America’s housing situation has no doubt been in a sort of downward spiral since Biden took office. Bidenomics itself is a disaster that will make future history readers shake their heads in disbelief at how this incompetent president propelled the country into turmoil.
A Forbes article gave a glimpse at the issues our country is still facing in the housing sector. They note that “A combination of still-high mortgage rates and home prices amid historically low housing stock” is making home buying and homeownership a venture unreachable for the middle class.
That’s why I’m so excited to have my new friend, fellow YouTuber, and sponsor Economic Ninja, on today to discuss how America can fix the housing market devastation of Bidenomics and regain financial safety and power through real estate mastery!
He gives us the expert, insider knowledge on how we can prepare and fight against skyrocketing inflation, company layoffs, and interest rates rise worse than what we saw in the early 2000s, as well as the banking crisis 2.0 that started just one year ago. And he’s offering an exclusive discount on his Economic Ninja courses only for our Turley Talks family at https://www.turleytalksrealestate.com/join-now
Highlights:
- “There are some very serious plans to destroy and steal the wealth of the middle class. The reason why is because once the middle class loses their money, they lose their power, their voice. And once that happens, we’re done.” - Economic Ninja
- “We have way more housing units today than we did back before the great financial crisis.” - Economic Ninja
- “The most important thing you can do for being a wealthy successful person is becoming your own bank, but go past that and become the bank for others.” - Economic Ninja
Timestamps:
[03:08] Are we on the verge of another financial crisis in America
[05:58] How Economic Ninja identifies the macro patterns in the economy
[10:44] On the narrative that we are in a housing shortage amid high mortgage rates and home prices
[14:11] How understanding and investing in real estate can help us succeed through another financial crash
[17:24] What we can learn from Economic Ninja courses
Resources:
*The content presented by our partners may contain affiliate links. When you click and shop the links, Turley Talks may receive a small commission.*
Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review.
Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks
Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! https://advertising.turleytalks.com/sponsorship
If you want to get lots of articles on conservative trends, sign up for the 'New Conservative Age Rising' Email Alerts: https://turleytalks.com/subscribe/.
Are we seeing the revitalization of conservative civilization? All over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. And it's just the beginning. I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink, and a new conservative age is rising. Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges, and together learn to live in the present in life of even better things to cover. This is Turley Talks. Hey gang, it's me, Dr. Steve, and as you know, America's housing situation has been in a downward spiral ever since Bumlin Biden took office. Last week, there was a Forbes article that gave a rather ominous glimpse of what's going on. They're seeing a combination of high mortgage rates and home prices amid historically low housing stocks, so a shortage of availability of homes. According to Forbes, that combination is making home buying and home ownership literally untenable for most of the middle class. Simply put, Bidenomics is a disaster. It'll make future history readers shake their heads in utter disbelief at how this incompetent president could propel this country into such turmoil. But as you know, we are all about taking action here on this channel. We are proactive patriots. So how do we not just survive during this time? How do we actually thrive? Well, I'm so excited to have here my new friend and fellow YouTuber and sponsor, the Economic Ninja, to discuss how America can fix the housing market devastation of Bidenomics and regain financial safety and power through real estate mastery. And the Economic Ninja has very graciously offered an exclusive and limited time discount on his courses only for our Charlie Talks family, which you can find out right now by clicking on the link in the description below. So Economic Ninja, great to see you again, my friend. Dr. Steve, thank you so much for having me on. I think the last time we saw each other was in Dallas, right? We were. We were a nice, warm Dallas. You have not aged a bit. I've gained a couple pounds, and then you're the opposite. You have the face that only a mother could love. Great to see you. We did. We had a great time. You were not just hanging out. Fellowshiping. Just having great chats on the patio there at the convention center. Yo, let me start off here. I'll give people even a little window into some of the things we talked about because you were just blowing my brain when we were in Dallas. You are the economic ninja. And I want to start off by asking you where you think we are as a nation right now. I mean, it seems as if, you know, we're on the verge of a pop housing pop of some kind, perhaps another financial crisis. What's your assessment? Yeah. So first off, this is much worse than the financial crisis that we observed from 2005 to 2010. And I give those special dates because most Americans in history, they look back on the financial crisis. They think 2008, but that's when the media finally told you we were in crisis. Interesting. And I'm glad that you used the term survive and thrive because that's my clarion call for the American people because what is happening is there is some very serious plans to destroy and steal the wealth of the middle class. The reason why is because once the middle class loses their money, they lose their power, their voice. And once it happens, we're done. And so we are in the grips of what I believe is almost Great Depression 2.0. I don't believe it will take as long as the Great Depression did back in the twenties and thirties. But where we are is akin to what we saw in the late seventies with inflation rising and spiking and seeing the Federal Reserve needing to raise rates. And what's really sad, but it's something that was done to our education system a long time ago was that certain information in economics, certain data, certain truths were pulled out of our education system. And the Federal Reserve knows this better than anyone. When you raise the cost of borrowing money and the nation is needing to borrow money because that's how our system is built. It's built off of debt. It slows economic activity. When you raise it really fast, really high in a short period of time, it happens exponentially. And that's what we've just witnessed. And the Federal Reserve does something called higher for longer. And if you look back on a chart of the Federal Reserve funds rate since just 1999, you'll see these little plateaus where the Fed raised rates, they held it. And then it drops. Then they raised rates, they held it and it dropped. And right before a recession is announced about one or two quarter before, that's when they start dropping because the Fed always wants to be reactive and not proactive because they do not want to be blamed. They want to be looked at as the savior, but that's not the savior. And as doom and gloom as this sounds, there's a lot of positive to this because when you see the train coming and you're staying on the train tracks, all you got to do if you're looking the right direction, step off. So this is a big deal. The left is causing it to be even worse. But ironically, this exact same scenario played out in 2005. Wow. Wow. So we've been here. What is it there and back again? Again, we were talking about this a little bit earlier before the interview. What I love is you give us these patterns. So we see these macro patterns to help us interpret these kind of the micro fluctuations that can be kind of, well, obviously very, very confusing. How do you identify those macro patterns? Yeah. Great question. So I get super fired up about this because these patterns are very identifiable. So just a second ago, we were talking about when the Fed raises rates, things get bad over time. And it usually takes a handful of quarters, maybe a year or two to have that data come back because companies have higher borrowing costs, which means prices go up. It flows through to the real economy, to us at either the grocery store, gasoline prices, energy prices, and then housing prices. And then what happens is the consumer starts to stall. Right now, specifically talking about the home industry, most Americans are paper millionaires. They have golden handcuffs, which means that if somebody wanted to sell their home anywhere in America and buy the next door home for the same price, they physically couldn't because we all know and we all think about home prices being high and the cost of homes being exorbitant right now because of interest rates. A lot of people don't realize how much taxes have gone up on that property. The insurance industry is an absolute crisis. Insurance costs are getting more. And there's so many other handling costs that go along with the home. Right now, we're starting to see banks get squeezed because of a commercial mortgage meltdown that is so much bigger than the mortgage-backed securities crisis of mid 2005 when Ben Bernanke famously came out on CNBC and says he doesn't believe there's going to be a housing crisis, death wrong, and now he's getting paid tons of money to go around selling his book, which I think is disgusting. And we're repeating those same patterns. And let me give an example. In 2005, the nation found themselves again in golden handcuffs because the Fed had started raising rates in mid 2003. By 2005, costs got too much. People could not leave their home if they wanted and bought the next door neighbor's home. And so what happened was volume or the velocity of transaction slowed very quickly. There was still a handful of people running around just like they are today freaking out, thinking if I don't buy now, I'm never going to be able to buy because they're listening to their mortgage person. They're listening to their real estate agent. Again, people that are committed to selling you something, they don't get paid. Right. And what happens is those few people get smaller and smaller and smaller. And inventory starts to slowly pick up like we're seeing right now. Well, now back in 2005, banks like Bank of America, where all of a sudden targeting Hispanics, African Americans and people with on average, lower education when it comes to finance, right? They started to go after these. And in my opinion, it was totally predatory and saying, you know what? Because of the color of your skin, we're going to give you a discount. We're going to make sure buying a home's easier. We're going to do an exact same thing right now. Another thing they're doing is Biden came out and says, you know what? We got to start changing the rules. If you have bad credit, we're not going to focus on charging you fees. We're going to make sure that banks don't charge you these exorbitant fees when it comes to getting a mortgage. As a matter of fact, we'll make sure that people that have good credit scores get the fees. Now, this is what's scary and this is what people need to understand. They are targeting you if you believe this is a good thing. As a matter of fact, California is going absolutely, well, no, they've already lost it. And they're making sure that, hey, if you are not a citizen, it's okay. We're going to give you an interest-free loan to buy a home. Come on in. The water's fine. Because what happens is these are placeholders for homes. And they know that if you buy your home just like in 2004, 2005, more than likely, you're going to pay about three payments on average and then stop paying. And a lot of people would say, why would the banks do this? Well, it's because they know they've got a placeholder and eventually, they're going to foreclose. And we're seeing that Dodd-Frank only pushed the truth off a bit, making it harder for banks to foreclose, but there's a foreclosure wave starting in June. And when I say June, I know this because of the longer period of time it takes. And once we see that sort of pop off that inventory pickup, and we're already seeing home prices decline in more expensive homes, but the media is lying because they're omitting the full truth. And they're saying that prices keep picking up. Those are the lowest price homes in the nation. Again, the small pool of people that are running around freaking out. Right. Right. Do you agree with that Forbes article assessment that we're seeing this deficiency in the number of homes available combined with an ordinarily high mortgage rates and home prices? Are those primary factors or is that just a symptom? Yeah. Yeah. So the narrative is we're in a housing shortage. We're in affordability shortage of housing shortage. That same narrative, if you Google housing shortage, 2005 and hit news articles and then go back on Google to page four or five, you're going to see all the exact same articles with the exact same titles as they are now, again, a repeatable pattern. What we're seeing is, first off, if you look at the Fed chart of housing starts from the year 2000 today, yes, it rose exponentially and then fell off and then it's slowly ticking up. But all those homes are still in America. We didn't have a flood wipe out the nation and Noah showed up and said, okay, we're starting over with the houses. But if you look at the amount of commercial housing projects, those are considered to be five units or more in the nation since the year 2010, they have absolutely exploded, which means we have way more housing units today than we did back before the great financial crisis. Here's the other thing. And this is where my plan to help take back the wealth of the nation comes into play. Since 2010, hedge funds have been buying up homes and they have been using our pension money to buy these homes and it's disgusting to me. However, I started stating a few years ago that Blackstone and BlackRock would fail. And I know this sounds crazy and a lot of people mocked me for it. But since then, BlackRock and Blackstone have been caught up in the commercial real estate collapse because they too are part of, they are subject to the ebbs and flows of the interest rate market. They do not own any of the property. Everyone looks at them like they're massive, but Blackstone ended up giving back their headquarters building in Manhattan about a year ago, they just gave it back to the bank. And so I believe there is a moment where there is going to be a breaking and it's already starting and it all has to do with the debt markets. And what I'm trying to get people to do is to wake up, understand these easily identifiable cycles, but nobody's teaching them online, once you understand that, how do you prepare today, right now take actionable steps and then move into that next phase? Because the scariest thing is when I come out on YouTube and I say, "Okay, it's time to buy." And when you want to buy is when interest rates are massively higher than they are now. The 1970s inflation going into 1980 when Paul Volcker was hailed as a hero, spiking rates when mortgages were 18 and a half, 19%, he wasn't a hero, he bankrupted a lot of homeowners in the nation because they were in adjustable rate mortgages. Well, we're in that exact same phase right now. There are a lot of people in the last two years that have decided to jump on to the adjustable rate mortgage. We're back into no income verification loans. We are repeating this cycle, but on a much greater scale. Wow. Wow. I just love listening to you, it's like drinking from a fire hydrant, it's like, "Wow, I got a marinade. I got to go back on the video on that a few times." I mean, it's a perfect segue into talking about your passion for investing. So how can understanding and investing in real estate give our Turley Talks audience here the tools and power they need to succeed through another looming financial crash? You know, I've been teaching people real estate for a handful of years now. I was the worst real estate agent in the world and I became a real estate agent only because I owned a real estate brokerage and I had to challenge the test because a massive $35 million project was falling apart, my escrow and I needed to save it. But before that, I was a real estate investor. I started investing in the year 2000, bought my first home after selling electric trains on eBay. Two years later, I had 14 homes. I sold all of them except for one in between 2005 and 2006 because I knew that crash was coming. I was a complete crazy person from 2006 to 2008. Nobody wanted to talk to me because everything I was saying was doom and gloom and it was the opposite of the news media. So now we're in the exact same boat. And where people can benefit is once you realize you're sitting on train tracks and you could sit all day long and see nothing, but when you turn your focus 180 degrees and you sit the other direction and all of a sudden you see a light out in the distance. You can't hear anything. You can't see all you see is a light and as it gets closer, you can start to feel the vibrations. You could start to hear the train and you realize then where you are, getting off of those tracks are so very vital. And right now, those tracks are debt. People trying to, they're trying to, I mean, think about how many people in America right now are just trying to impress people, they don't even respect. They're caught up in that rat race. When you turn your attention somewhere else and you see these identifiable patterns, you go, oh my gosh, this is going to be bad. You don't get scared. You get fired up and you go, how can I make money from this? During the Great Depression and the Great Recession, more people became millionaires than in other times around those time periods because there are opportunities, there's discounts, there's fear and instead of being part of that fear, you become part of the solution. The scary thing for me is, is right now because most people don't understand economic history, you know, the Roaring 20s came from the Depression of 1920, which started from a flu. And I really hope that people understand this because it is so important that Roaring 20s to the 29 crash leading into the depression of the 30s came from a flu. Look at where we are now and time is compressed because of technology. So what I do and what I wanted to offer your subscribers is just a piece, a chunk, a course that I give that I've thousands of people have taken and they've benefited from it. I mean, I've got a lot more options out there, but just a chunk and if they want to the whole package because they want to start now, then they can. But if they want just that piece, that piece turns you on the railroad tracks 180 degrees and you start to look down the barrel of an incredible opportunity, nothing to be afraid of, but it's to be taken serious and that is a real estate crash. Yeah. Give us a, if you don't mind, so say we click on that link below and we check out the economic ninja courses. I mean, give us a little bit of an aerial view of what we are going to learn, all these innovative strategies, resources and so on. So what I figured, it's a lot easier when you're just getting to know somebody to give them a piece of the pie rather than the entire fire hose, right? And so I have multiple courses that put out on this to prepare people and what I want to do is offer your viewers one of the courses, which is the how to prepare for the real estate crash course. That's $299. They'll be, you'll have the option of getting the other three courses plus any real estate courses I do in the future for free and the monthly group coaching calls, but just that course in and of itself, what I decided to do is I was mentoring and I was coaching a lot of people and doing a lot of consulting in real estate and for investors. A lot of what I found, everyone on YouTube, 99% of them bought their first home after the great recession in like 2010 and they're out there telling you that everything's great. Keep buying, keep buying, here, check out my affiliate link. Very few people, I had the opportunity, the opportunity of meeting the Kiyosakis and all those guys back in 2005 because I was really beating the street and investing, but I was also getting out in the middle of all of that. And so very few people understand that. So what I did is I said, look, I'm going to put together a course instead of consulting because my time has just worked right now. I built a course that's like a consulting deal, meaning that right now there's like 40 something videos on that course and I keep adding a video for free for everybody each month as times turn because it makes the course that much more valuable. And then there are a lot of people that decided, I want to go bigger. I want monthly coaching calls because there are people bringing me deals right now or they're saying, hey, I want to get into this greet, which is the scariest thing in the world. I mean, you look at these big promoters, look, I can't say someone online or they'll be suing us. There's a lot of trouble, these real estate investment trusts. This ain't a joke. And the Fed is in a position right now where it has to hold rates high. And this is what's exciting to me because we not only have an inflation problem in the nation, we've lost the dollar as the reserve currency. So we're now competing with the BRICS nations. So the Fed knows that if they don't keep rates at a sustainable level and give these other nations a reason to hold debt of ours for any reason, we're in trouble. Right. Yeah. Yeah. This is what's coming next. And so yeah, that's why I wanted to break it up. So I figured if they want to go big and they're ready to start in an LLC because I teach that, why would you ever buy rentals with your social security number? There are loan products out there and I go over this in the first course, like DSCR loans, where if you set up a legal entity, a corporation or an LLC, you apply with a bank under the EIN number, you go get your loan. And then if for some reason you plan for the worst and hope for the best, everything detonates, you keep your credit score. But see, that's not real sexy these days. It doesn't sell a lot of books. So these... That's old right there. That's awesome. Exactly. And that's... I mean, why wouldn't you learn about a DSCR loan? And actually, my goal is later this year and that would be included in the bigger package. Every course that I put out is going to be included, but one of them is really diving down into every different type of residential mortgage out there, including some commercial mortgages, because you want to talk an opportunity, let me give you another nugget. Most people aren't, and my course identifies this, what you should be looking for and preparing for. Why wouldn't people want mixed use properties on Main Street USA, meaning get one of those beautiful buildings downtown when this crash happens, where it has a commercial structure underneath, it has a couple of apartments above, you have the ability to gain income in multiple different ways and be able to rebuild this country. Yeah. That's the thing that people need to understand. When the next president comes in, I'm not joking, there is going to be a firestorm on the left. If the right gets Trump, which I believe is coming, honestly, and it is going to be a firestorm, and they will detonate the economy. Wow. And they'll detonate it knowing that they could pick it up for pennies on the dollar, and that's what most good, hard Americans understand. Why would they do it if they would do it to themselves? Right. He who has the most amount of money when everyone thinks crashing wins because they buy all the other people. Right. Exactly. Exactly. And that's what we want to stop. And that's where I've seen amazing success with people's just eyes opening up and they're like, oh my, and they're starting to divert their money. It sounds funny. The first part of the course, I started talking about why it's important to start paying off certain debts to prepare yourself for an investing lifestyle in real estate, because you want to clean up your personal balance sheet to build your company's balance sheet to start crushing it. Yeah. Yeah. Oh, I love it. I love it. Yeah. The whole logic, the whole, frankly, the theology of investment where life begins with gift and you sow a seed into it and then over time, yes, the profits or the measure of appreciation people have for the gift you originally sowed. It's just this beautiful reciprocity and I'm going to add something and just get me talking on tithing and I can't stop, but this is one part of this message to the American public right now and to people all over the world. The bad people have the money right now. They are controlling the purse strings. We have gold and silver, God's money, we got, and what's in the constitution and we have Satan money. This is how the world's working. They've got the printing press. Now the most important thing you can do as for being a wealthy, successful person is becoming your own bank, but go past that and become the bank for others. Think about this and I teach this. What if you start buying homes and you start a progression of how to pay those homes off and then what you do after the crash, it's going to start picking up because the Fed's going to dive rates down to nothing and on this one, I believe they're going to go negative. That's a handful of years off. They're going to go to negative rates. You start to sell homes that you own and you are carrying the paper. Now, I want you to understand the strength and the power of that. You have now become a bank and you are selling or you are renting your properties to good people and I used to do this. I used to provide financial education back in 2003 to all my tenants because my goal was them for them to go buy other homes and become successful. There's one thing to sow money and finances, then they're sowing knowledge and that's why some of us like yourself, Dr. Steve, your channel has grown so strong because your desire to help people, to wake them up, resonates. It becomes a part of people and that's we are growing by attracting similar mindset, similar spirits and that's where we're at right now. It's one thing, a lot of people, we've got to make sure that the right people get voted in. It's not just the present, it's our local politicians, our attorney generals, our judges. We need the right people but here's the thing, if the other people are going, "What do I do?" They're saying at time to just dig your head into the stand, go start a bunker and fill it full of food, the armor doesn't have a backplate on it for a reason because you're not supposed to run from the fight and getting our nation back to a wealthy status, our middle class and taking our poor and our lower middle class and bringing them up to middle class standards, that's my goal and anything that the current president's saying right now, they're human Roomba, I don't believe any of it and all he's doing is trying to build a bubble to pop even more. Yeah. Oh, wow. Wow. I'm with again, you got to click on that link below the amount of resources at the economic ninjas websites could absolutely blow your mind and he's giving you this wonderful discount just for our Charlie Talks family to start getting involved in becoming an investor. Do not become a debtor, become an investor, that's a gift giver and you bless more people than you can ever imagine starting with yourself and with your loved ones. Don't delay, click on the link below, check out the amazing resources at this very special website to check out this economic ninja resources. They're just absolutely amazing. Click on that link right now and you'll thank me later for it, but that's okay. You could just send me a little Valentine's card or something, I don't know. But economic ninja, you're amazing, man. Oh, by the way, where can people check you out to just in terms of your social media? I mean, you've got a huge following. Yeah. So I've got three channels now. I've got the economic ninja, the real estate ninja and now my new set. This will make you rich. So if you want to check those out on YouTube and then I'm pretty much everywhere else. Love it, gang. I love him. You're going to love him. So make sure to click on those links, get involved today. Remember, don't just survive thrive. That's the most important thing. Amen. Thank you so much brother. Great to have you. Let's have you back soon. Can't wait. Thanks so much for listening to this episode of the Turley Talks Podcast. Don't forget to subscribe, leave us a five star review and share this episode with your friends. Help us defeat the fake news media and rank us the number one news and commentary podcast all over the world. Come back again tomorrow for another episode celebrating the rise of a new conservative age. in the world. (upbeat music)
