Please Do NOT Buy A Pandemic House

By Brother Bryan

Transcript

Please do not buy a pandemic house

“What are you talking about?”

Well, what I’m talking about is during the pandemic 2021, especially was The Big Year for it; 2020, late 2020 going through 2021. A lot of people panic bought a house they had to move they wanted to get away from where they were at get out into the countryside and whatever and there was a lot of price gouging.

You heard stories of people paying tens of thousands of dollars over the asking price, which you’d never do in
real estate, always offer less; that’s another story. But people were paying because of fear of missing out

They call it “fomo”: f-o-m-o fear of missing out.

and people were panicking we have to get
a house and there’s other people that
are bidding and whatever and there’s
also big financial institutions like
Black Rock and things that we’re buying
up a lot of housing
to drive the prices up Zillow was also
caught inflating prices they were buying
houses and turning around and trying to
sell them flipping them in other words
and charging huge prices again price
gouging
and they knew that there was fear they
knew that there were people that were
afraid of living in an area where they
could be affected by the pandemic more
more so because of higher density of
population
well
now what’s happening is a lot of these
people that bought in the height of that
housing market bubble
now they’re starting to realize I can’t
make my payments anymore especially if
they have an adjustable rate mortgage
and it’s very important for me to talk
about this stuff so please bear with me
and these people that Panic bought now
are coming out and they’re saying
we have to get rid of our place very
soon very quickly but we can’t make the
payments anymore with interest rates are
now uh this last one here in July the
interest rates are now at a 22-year high
all right they’ve
it’s so it’s very expensive to be making
mortgage payments which you shouldn’t
even be in in the first place
mortgages are a very bad idea mortgage
you become a mortgage-backed security
and basically the bank looks at you as a
financial instrument you’re basically a
slave to that mortgage you’ve taken a
death pledge that’s what mortgage means
whole other issue but the point is
a lot of those people that bought at the
height of the housing market bubble
during the pandemic
they are now trying desperately to get
rid of their place and they’re coming
out with these ridiculous prices that
I’m seeing the price is reflective of
what they need to pay off their mortgage
but also what they need to be able to
have some money to be able to move or do
whatever else
and then you know what you do
this is extremely important please
listen to me and take my advice
when you look at a house be it on Redfin
or Zillow or whatever look at the tax
history look at the sale history
um
and the tax history will show you what
the tax assessed value for the house is
and you’ll be shocked at how much more
than the tax assessed value people are
trying to ask for their homes
all right and just to make it clear this
property that I’m walking on right now
is Our Land we bought this for less than
the tax assessed value in 2017. our
office in town that we have we bought
four less than the tax tax assessed
value in 2020. so right about the time
that the whole pandemic thing was
happening we we settled for our house in
town we settled for that in July
actually that my birthday
July 7 2020 is when we settled for it so
the pandemic thing was going on at that
point in time and we bought it for less
than the tax assessed value so don’t
have somebody come along and say oh you
can’t get places for tax assessed value
has to be a lot more than that well not
necessarily it depends on a lot of
different things how’s the market in
that area and whatever else
but I say this for a very important
reason because if you overpay for a
house you put yourself into a really bad
situation
if you’re paying for a house debt free
you have the money to be able to buy a
house and you overpay well you just
wasted a bunch of money
okay but if you’re going with a mortgage
which like I said you should not be
doing but if you go with a mortgage and
you get into a house
because you just can’t wait
um
then you’ve paid too much and you’re
eventually going to be upside down in
your mortgage in other words what you
owe on your house to the bank is
actually far more than the house is
currently worth
and then you have a real problem because
now if you want to sell
um you’re going to be taking a major
loss and so you have basically two
options when you get into that point and
this is where we’re at right now in the
housing market
and that is number one you can sell the
house because you can’t make your
payments you can sell the house and get
less than what you owe the bank now you
have to come up with some other way to
pay off that mortgage
you have to be able to pay off the
mortgage in order to get the title deed
and everything to sell to somebody else
unless the bank is willing to move debt
over to the other person or some other
way there’s all kinds of scheming that
they can do
so but you end up probably with a debt
to pay and yet no house to show for it
you know some level of that because you
had to sell it for cheaper
the second option is to declare
bankruptcy
you declare bankruptcy your credit score
is completely destroyed and you won’t be
able to get another house now you might
have to do that to get out of a bad
situation
and probably just go rent for a while or
move in with relatives or something like
that
um
but it’s a bad option for a lot of
people because most people live on
credit and the idea of
having your credit history completely
wiped out
is not a good thing for most people
so what are we facing here in America
I’ve I keep track of the housing market
because we’re looking
um for a property I’ve talked about that
in other videos just seeing what’s out
there I could have bought places already
and I’m not doing it because I look at
tax assessed value and I look at things
like that
but I’m seeing an awful lot of places
coming up for sale
and purchase history you know you look
at purchase history and it says
purchased in 2021
and you see and it’ll show a lot of
times they don’t always show it but if
you look at it and if you’re interested
in a place certainly request this
information
but look and say okay when did they buy
it
and if they bought it in 2021 what did
they pay for it
see and that’s what you look at and you
look at that and you say wait a second
here they bought this place in 2021 they
paid 175 000 for it just to come up with
the number what’s the tax assessed
amount
the tax assessed amount is eighty
thousand dollars
so they paid more than twice what the
place is even assessed at what it’s even
worth
what are they asking for oh they’re
asking 195 000 for it
well did they do twenty thousand dollars
worth of repairs to it or you know
whatever
um no they just lived in it for the last
two years or something oh well
how does that work let’s solve this
really neat caterpillar over here
show this
little furry little guy
let’s go from a caterpillar to Luther
I had to change my battery there
so I’m back
um
but anyhow getting back to what I was
saying
um
this whole issue of the housing
um
so we basically we’re seeing this thing
now of these people and they’re trying
to get rid of houses that they paid too
much for
do not buy a place like that unless you
can offer them a very low price and they
can somehow take it
you say but I really need a house Ryan I
really have to have a house well just
wait be patient you have to understand
that the financial world it’s all
cyclical it goes up it goes down bull
markets go up bear markets come down
think of the the horns on a bull they go
up and a bear he claws down think of it
that way it’s what I heard years ago and
I thought that was a good way to say it
understand that the markets go up they
go down
when everybody’s buying there’s a huge
demand and low Supply the prices go up
when the supply exceeds the market
demand the prices come down
people don’t want it anymore they are
they’re unable to buy it anymore and
whatever else well that’s what we’re
going into right now
the supply
of housing is starting to go up and the
demand is starting to go down because
most people don’t qualify for mortgages
anymore
because now the the best
level I think is seven and a quarter
percent or something like that and
that’s a lot well if you’re subprime
it’s going to be more like 10 or so
interest rate well that’s a lot of money
to be spending and especially if you
don’t have a big down payment or
whatever else for a house which again
I’m not recommending mortgages for one
second you should stay away from
mortgages especially if you’re saved
uh learn to wait learn to save your
money
and be debt free debt is slavery I mean
that’s the very definition of slavery is
you’re in debt essentially you’ve been
bought you’re owned by somebody else
well if you have a mortgage you are
owned by the bank
that’s the way it is I mean you’ve made
a death pledge that’s literally what
mortgage means like I said earlier
please understand that God does not want
you in bondage to lost people
very important to stay out of bondage
um
so what’s going to happen
well what I believe is going to happen
is
as the American dollar is crashing right
now in the brics currencies coming and
and whatever else people say oh the
dollar is strong yet the dollar is not
strong the stock market is being propped
up by the artificial intelligence stuff
right now
again documented fact and uh
you know there’s all kinds of
trading going on back and forth and
whatever and we’ll just let the robots
do that for us because that could never
go wrong
you’re kind of like a autonomous
vehicles could never crash because we
can rely completely on GPS
no not really
but um
so what’s going to happen
well I think that what we’re going to
see is
this Panic increases
Jerome Powell the head of the Federal
Reserve he came out and said that there
will be no interest rate drops you know
in the near future probably for another
year and a half probably not till 2025.
so everybody’s hoping for that all when
interest rates come down then we’ll be
okay and whatever they’re not coming
down anytime soon
and according to the head of the Federal
Reserve so if that’s what your hope is
well I’ll just wait till interest rates
come down and they’re not coming down
for a while so
the American people
um
America is being destroyed right now and
the Judgment of God is going to bring
this nation down
and what’s going to happen is more and
more people
will find that their home that they
purchased out of fear is no longer an
option
so they’re either going to have to sell
it for very cheap
and take a major loss and end up still
they’ll have no house but yet debt from
the mortgage
that’s an option or they’ll just have to
declare bankruptcy which I think was is
what most people will do
which is going to put a lot of Americans
into a very bad situation
because people are losing jobs there’s
thousands of job losses and
um
so you’re going to have a lot of
homeless people I think the number right
now is something like one in 500
Americans is homeless
which is crazy it’s only going to
increase why because the Bible says you
reap what you sow
and this nation went atheistic a long
time ago
and all these idiot atheists out there
coming out oh there’s no God there’s
let’s get rid of the Bible and it’s
old-fashioned outdated you know morality
standards of morality and whatever else
oh you’re going to see the the fruit of
that
uh you planted those seeds of
foolish atheism and you’re going to be
reaping a good crop of crime and
violence and War and death
but hey that stuff’s good think about
that in atheism atheistic Evolution
teaches that the survival of the fittest
the strong survive and whatever and so
hey War crime death suffering and things
those are all what helps the species to
evolve so right on the schedule there
atheism good job
you have a bad times you have a nation
falling apart thank an atheist for that
because they’re the ones who are at
fault
you reject God you say there is no God
well
than a nation that forgets God goes to
hell
so enjoy it it’s coming
but um what we’re going to see here in
America is we’re going to see
massive
amounts of people defaulting on their
debt saying I can’t pay it
massive bankruptcies which lead to
massive foreclosures
which makes serious liquidity problems
for the banks the banks don’t have
Financial assets that they can borrow or
lend out to people anymore that’s what
liquidity means it’s just that they need
to have lots of money cash flow so that
they can go and get more people into
debt
real good
but uh
they’re going to have massive liquidity
problems and a lot more banks are going
to collapse because now they don’t have
their little slaves out there making
their monthly payments making their
death pledge payments
and so massive Financial turmoil
as the dollar you know they raise the
debt ceiling printed four trillion
dollars they’ve already spent over two
trillion of it
you know what two months or something
maybe not even two months
um
got a woodpecker up here in the tree
if I can get around here to show you
probably can hear that let me see if I
can get him on video
stay there
there he is
can’t tell what he is right now there he
goes
always something to see out here
but uh
it’s not that I get distracted easily or
anything it’s just that uh
I like to Showcase God’s creation so
but um
just to finish up
if you were in the market for a house if
you were looking for a place do not buy
right now unless you can find a really
good deal that’s near tax assessed value
do your homework do not
fall for the Realtors saying never been
a better time to buy
no it’s not well it’s a matter of uh
inventory that’s why prices are high no
it’s not low inventory that is not true
at least not entirely there is there are
people that are still sitting on their
homes and and you know I’ve made the
mistake of saying that well it’s because
people that have their homes and they’re
not willing to sell right now it’s
because they have low interest rates you
know three percent or lower and so if
they sell then they’ll have to go out to
get a newer get another mortgage which
will be a higher interest rate and
whatever
um
uh no that’s actually not true I saw
that the number somewhere
right around uh 30 I think lower than 30
percent of Americans have real low
interest rate mortgages so that’s not
true either
I think of that number there’s some
people that actually have their place
paid off so it would actually take the
number down to below 20 of the American
people have real low interest rates so
and another thing that they’ll say I’ve
heard
Realtors say this and they’ll say
um
that you can get a mortgage now and then
refinance later get it with a high
interest rate and then you can refinance
later the problem with that is Jerome
Powell said probably not till 2025. they
won’t be lowering interest interest
rates for the foreseeable future
so um
the high payments all we can make them
for a while uh
you’re really taking a chance
um
I wouldn’t do it
but there’s a lot of different things
that will affect the economy
I have to get one of these
wild red raspberry
so
um a lot of things will affect the
economy
and
you have to think about that
and don’t go out and get yourself in all
kinds of debt just because you can’t
wait
and learn to be patient
and um
you know again the actions of people
will affect the market
so if you get a bunch of people
continuing to buy into an over-inflated
housing market well then
those same people
are keeping it afloat
whereas if people just say no
I’m going to be smart with the money
that that God has given me
I’m not buying right now I’ll wait to
the prices come down
oh that’s what you do
uh in closing I’ll just tell a little
Story I Heard
that um
back before the Great Depression there
was a guy as a farmer
and all the other farmers
in his area were getting themselves into
all kinds of debt because the
the media was saying that the economy’s
never been better
and this farmer said uh I’m looking at
some other signs and I’m seeing some
troubling things and
and uh I’m not going to get into debt
I’m going to save my money and I’m going
to deal with having
not as good of a farm or not as good of
a vehicle or whatever else and um
and he you know held to his standards
and the stock market crashed
a little while later 1929
and um all of his neighbors had had debt
large amounts of debt they lost
everything
and he was able to actually buy up a lot
of what they had that they were bragging
about
um
the Bible does talk about prospering
and that God will give you Prosperity
there’s nothing wrong with that
especially if you’re married and you
have children and things
um you should Prosper you should be
doing right and God can give you the
wisdom to no one to buy
no one to sell
so
please take my advice
please take heed to what I’m saying do
not
buy right now in this inflated Market
very bad time to buy
as you can see the beautiful Fireweed
here behind me
and some golden rod that’s starting to
come out here as well
both very good medicinal teas
that you can
grow
or well not grow but you can Harvest and
and turn into into tea
um and you say why do you bring that up
you know again well because you can save
money
learn to save money learn to be
uh
excited about the things that God has
made
um there’s a lot of things out here that
you can
study and whatever
this tree right here I don’t know if you
can see the little berries hanging on it
that’s a choke choke cherry tree
you can make juice out of the choke
cherries you can also dry them and get
the the seed of the choke cherry and you
can grind it up and turn it into flour
it’s Native Americans did that
which we have done and uh there’s ways
that you can save money ways that you
can
continue to build up wealth and then
when you want to buy a house or land or
whatever else
um
you can invest in that and do it debt
free without having to go to the bank
and sign your life away
um
you know and fall for it because you
have to have what you want right away
that’s covetousness Brethren and the
Bible condemns covetousness
it actually calls it idolatry
and so when you get yourself into a lot
of debt
and you go out there and you you know
you have this big mortgage to pay off
it becomes an idol because it’s all you
think about it’s everything
you know I can’t do this and I can’t do
that because I have a mortgage to pay
off
I have this big debt you know that I
need to pay this big mortgage
what can I do you know and everything
can’t lay up Treasures in Heaven because
I have the mortgage to pay off
and you know just to understand this too
I know I said I was going to close but
I’ll rant on one more point and that is
basically if you want to make it very
simple
when you get a mortgage you’re basically
paying three times the original purchase
price
if you go with a 30-year mortgage four
times the original purchase price if you
go with a 40-year mortgage that they
have now which is insane
the interest that you’re paying on it so
if you buy a hundred thousand though the
house is a hundred thousand dollars that
you bought
until you’re paid off with all the
interest that you’re paying back to the
bank you’re basically paying
three hundred thousand dollars and that
of course will fluctuate it depending on
the interest rate I get it
but that’s a pretty terrible investment
and you say but yeah but but in 30 years
the house will be worth a lot more uh
you mean the dollar will be devalued a
lot more
uh think about it
you can be debt free you can live debt
free and you can do it on one income
which we have done for ever since my
wife and I got married back in 2012.
so
the 11 years of marriage and she’s never
worked outside the home
and yet we have
land and a house
and we have been able to save up money
and and you know be able to buy a place
in the future
you can do it
so
don’t fall for the fear of missing out
don’t fall for the lies of the people
trying to get you to buy a house right
now do not buy a house right now if
you’re looking at a place check out tax
assessed value and price history if
somebody bought it during the pandemic
2020 to 2022 in that range
uh you don’t want to buy it
don’t pay off their mortgage so that is
going to be it
please say key to my advice and thank
you for watching