In 2023 over 62% of all Americans are living paycheck to paycheck and that totals over 200 million Americans that do not have 500$ saved up for an emergency.

These numbers are actually staggering when you dig deep into them as we have done during the year of 2023 from Mrlifeadvise.

The American dream has already died for the middle class Americans over the past two decades.

There are a few very important factors that we need to consider when talking about the middle class struggling in a way never ever seen before in the US.

Gasoline is a key cost for most Americans.

The cost of gas is something that all families struggle with these days and when you live in a state where public transportation is lacking and you need to drive a lot from and too your place of work you have to drive.

Having two adults working with two cars and both having to drive 30-90 minutes to get to work has a huge affect on the household income.

Groceries and the cost of groceries is a second big factor in most families life.

You have to buy food to survive and when the inflation has been what it has been in 2023 there is no way that you can not feel the pinch as working and middle class Americans are doing in these days.

Mortgage rates are the third big factor in many families lives and a big reason why people live paycheck to paycheck.

When we see mortgage rates hovering around 8% we know that there is goanna be very few sellers and buyers meeting each other on the real-estate market.

Because of the high mortgage rates the house prices have come down a bit in 2023 but there is still very little inventory out there on the market.

Why sell your home if you dont have too, when prices are down a bit.

And why buy a home when mortgage rates are at around 8%?.

The huge problem with the inflation that the Fed can not really master at the moment is that the purchasing power is disappearing from the market.

You are not goanna buy a new tv or a new phone when you live paycheck to paycheck.

You are not goanna go to expensive sporting events or even buy clothes when you are living paycheck to paycheck.

When most American working and middle class families have filled up their gas tanks and bought groceries and also paid the monthly mortgage and heating costs there is only a few hundred dollars left until they get paid again.

So the way they survive between paychecks is to put it all on the credit card.

And this is why the credit card debt has skyrocketed in 2023 all across America.

There is no real light at the end of the tunnel right now either.

We are goanna see a deep recession coming our way starting in the year 2024 and we are goanna see the peak of that it 2026 and around 2030 we are goanna come out of it!.

What is the answer for most families struggling?.

Pretty much what most families are already doing today, which is to work a second and third job and making sure that even the teenagers that can work picks up 25h+ our shifts each week.

So making sure that you maximize your income by working more hours and everybody chips in.

There is no room for spending on things you dont really need.

Sitting down with a financial planner is also a good idea for the families who dont know how to balance a budget and having some tough conversations with your teenagers where the stop playing PS5 and picks up a 25h McDonald’s job each week instead.

Also avoiding excess amounts of alcohol is a good idea, it does not really solve anything for you.

From Mrlifeadvise we do budget planning for families for a fair price so you can always reach out to us and we will help you balance your families budget.

You find our services at https://mrlifeadvise.com/shop/

And if you are trying to lose-weight we suggest that you check out one of our customers program at Amazon with the blueprint book for weight loss at https://www.amazon.co.uk/Loseweightcheap-Scandinavian-weight-formula-actually-ebook/dp/B07TP3LKHB

Take care guys.

Mrlifeadvise.

So as we see at the moment California is dying as a state and it is all happening very quickly.

Many of our business clients can not get renewed home insurance at a decent rate any longer.

A 1 million dollar house that had a 1500$ a year policy in he past, is now many times up to 4.000$ and if we speak about fire insurance it is a completely different story if you can get any insurance at all!.

Insurance companies are going under and moving out of California as we speak so selling houses will be even more difficult in 2024 than it has been in 2023.

If we look at different cities like San Francisco we see that stores are closing like the Whole food downtown flaggship store for instance.

But also hotels are forced to lower their summer rates for the first time in almost 100 years.

If a hotel room was 400$+ in 2019 for a single night during the summer it is now down to as low as 120$ a night.

But who wants to see homeless people shitting and pissing on the streets outside of your hotel?, nobody!.

So you do the math.

Violent crime is also ramping up in California and in LA even in Beverly hills people get robbed outside of nice restaurant’s these days.

Not to mention that home invasions are up a staggring 430% in 2022 and 2023 compared to 2020.

So it gets more and more difficult to afford a home in California and not to mention keeping yourself and your family safe in the process.

People are no longer being able to afford the California dream and that will start to show in home prices that will come down at least 30% in 2024-2025 all across California.

People are leaving towards Nevada and Las Vegas and to Florida,Texas and Nashville where you can still live on a 120.000$ a year household income.

Which is very difficult to do in California these days.

We dont see California bouncing back anytime soon, it will be at least a decade until we see things getting any better.

People with deep pockets will always be able to survive in California, but if you are working or middle class the best advice we could give you is to pack up your stuff and go elsewhere.

But always bring your pets with you, never leave them behind no matter how hard your circumstances are.

Take care guys.

Mrlifeadvise.

As always we are here to help your business grow and move forward you will find our services in our shop in the link here below.

https://mrlifeadvise.com/shop/

And if you are looking to lose weight, our client Loseweightcheap has you covered at this address.

https://lose-weightcheap.com/

The bank crash of the Silicon valley bank and Signature bank has to be an upset to all banking customers in the US.

These banks where run so poorly that a monkey would have done a better job than the managements of these two banks.

We are big believers in regional banks for farmers and small to medium size business owners, but avoid these type of WOKE banks.

A bank needs to focus on banking and not on side projects.

When we look at these two banks there are almost no banking being made, but a ton of woke workshops.

There is a truth to the slogan go woke go broke!.

And SVB and the Signature bank has put a real face on to this issue that once you go woke as a business you also go broke!.

We will never understand why the boards and regulators time after time lets these things get out of hand.

We understand that a lot of people are very corrupt, but at some point we need to find people with at least some type of morale to serve as board members and oversight.

There should be NO bailout of these two failed banks, deposits under 250.000$ should be protected the rest should be lost for over.

If there is a bailout from the government of these two banks nothing will ever change, bankers will take huge risks and reward themselves and if things go wrong they are standing hat in hand asking the taxpayers to bail them out, by pointing out the slogan to big to fail!

We need as taxpayers once and for all, say NO to bailing out banks in the US.

And we have to make sure that the oversight becomes much better than it is right now.

After looking at several of these banks own videos and online content, we dont know if these are bankers or retards that we are looking at!.

This is a huge shame that the regulatory is not working at all.

We know that Goldman Sachs already in November of 2022 warned about these banks.

And when you see the management pay themselves bonuses 1 week prior to going under it is impossible not to ask for criminal charges for all board members and the banks management.

Banking is a huge backbone in our society and should not be taken lightly.

Unfortunately people do not pay enough attention to their banking.

Our advise is always to use a smaller farm bank and get to know the management on these meet and greets and get a feel for what kind of people are managing your money.

You simply need to know who you are dealing with.

So moving forward these two banks has to be the last banks that are allowed to go woke and then broke.

We have always helped our clients at Mrlifeadvise with advice on how to deal with banks and bankers.

So we can always advise you on how asses banks and bankers.

You find our services in our shop in the link here below.

https://mrlifeadvise.com/shop/

Then if you are trying to lose-weight in 2023 we would recomend you to check out one of our customer lose-weightcheap they can help you with that.

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So we have warned our readers and clients since 2020 that this crisis is about to hit the market.

The feds pushing money into the system and creating inflation and the CDC taking the messures that saw millions of people living for Texas and Florida was not so easy to foresee.

But here we are in January 2023 and we warned you back in January of 2022 that this was goanna happen with higher interest rates and lower inventory.

We have seen already big drops in prices in San José, Los Angeles, New york, Phoenix, Austin and San Diego.

But the 25% drop in prices we have already seen in these markets will not be the floor this time around!.

We expect as much as 30-40% drop in prices of houses and a 20-28% drop in apartments in these areas.

With the tech job layoffs in these areas there wont be much of a buying pool left for this overpriced real-estate, that is currently out on MLS at this moment.

We still believe that Florida and Texas in general will do much better since people still want too move there from crime ridden democratic states like California and NYC.

The last numbers we have seen is a 4% price drop in Florida and then we have to take into consideration that the prices have gone up 41% on an average on smaller family homes in the past 2 year time.

With the interest rates being at 6-7% at the moment and we still see them going to an even 10% later this year, we can foresee a bigger crisis with homes not moving at all in certain areas.

The rents in NYC has gone up 32% in the last 9 months time and this has to do with several companies not allowing remote working any longer.

There is still a huge problem with unsold luxury projects across the city and the latest data shows 92.000 empty luxury apartments in all 5 burrows of the city.

When the interest rates have hiked up to 6-7% from as low as 3% a year ago, the buyer can only afford half the property they did a year ago.

This means that a lot of inventory does not come out onto the market and the inventory that comes out has to be sold at a much lower number than last year.

Also heating costs going up makes it even more difficult to sell homes who have expensive heating system’s that require heating oil or direct electricity.

We have said all along that we believe that if you are a cash buyer then your perfect time to buy a property will be between August and November of 2023 when we expect the FED to have raised the interest rate at least 1% more ,from todays levels.

This would mean that a 1.5 million dollar home will sell for 950.000 in many markets.

Is there any light at the end of the tunnel for home owners in 2024?, we do believe so.

The reason we believe that the home prices will stabilize in 2024 is that we expect the inflation to come down to under 5% in January of 2024.

And with the current lack of material like lumber, and a huge lack of skilled workers we believe that there will not be enough of new construction coming out on the market anytime soon!.

This does not mean that the interest rates will go back down to 3-4% again , we expect them to hoover around the 6% mark by March/May 2024 and stay there for the next decade or so.

This will be the new normal so to speak!.

The housing boom and frenzy is over for the next decade and will not see these huge increases or dips in the market any longer.

The bidding wars days are over and the housing crisis will slowly fade away with more new builds for a lower price point than we have seen in the past two decades.

The sad part of this housing default that we like to call it, is that many families will have to go true the foreclosure process in 2023 and in 2024.

The type of families we will see will be much more middle class compared to the subprime loan crisis of 2005-2008 that had some middle class buyers in the pool.

But where the big part was working-class and first time homebuyers.

These will be families where one or both parent work tech jobs or other jobs where there is massive layoffs coming in 2023.

So they will not be able to afford the monthly payments on a 2-3 million dollar home mortgage any-longer and that home will sell for as low as 50% of the original purchase price.

You have to remember that many new high paying jobs where created in 2020 and 2021 in tech, and the interest rates where 2.5.3-5% back then so if your household income was 300.000 dollars or so, you could afford a 2-3 million dollar home

So the best advice we can give you today, is to buckle down and try and survive the onslaughter of the real-estate market of 2023.

If you dont need to sell, dont do it!.

If you need to sell try and sell NOW!, when the rates are still at 6-7%.

Usually also the first or second offer are the best you are goanna get on a property, the longer you wait the more likely it is that the price goes down on your property true price cuts.

Take care everybody.

P.S. You find our consulting packages in our shop see the link here below, and if you do not find a package that is to your liking contact us and we will tailor make one for you.

https://mrlifeadvise.com/shop/

And if you are trying to lose-weight we would recommend one of our clients blueprint books that you will find at Amazon in the link here below.https://www.amazon.com/Loseweightcheap-Scandinavian-weight-formula-actually-ebook/dp/B07TP3LKHB

Merry Christmas and a happy new year to all readers and all clients.

It has been a really rough year in the crypto market and the stock market.

At least we are happy that we where able to send out the email on 6th of January 2022 warning all clients of the crypto market and the stock market.

And we also told all clients that buying a new home was not in the cards for 2022.

Due to the fact that we knew that the interest rates would go up a lot!.

We still expect the rates to go up to 10-11% during the 2023 (depression).

Stay safe and take care.

Mrlifeadvise.

https://mrlifeadvise.com/shop/

If you are trying to lose-weight we can recommend our clients company Lose-weigthcheap they do a great job in helping people world-wise.

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So here we are in November 2022 and we have yet again seen another crypto currency scam!.

This scam the FTX cryptocurrency exchange if up there with Enron and Bernie Madoff.

And it was expected that we where goanna see these types of scams in the crypto arena during 2022.

What surprised us and many others where that the times should have changed from the late 90s and early 2000s where IT companies where valuated 100x to a business that was doing positive cashflow and had offices around the world.

But yet again we see that many investors and now their children did not learn anything back then, and as we all now know crypto and NFT are all scams one way or another.

In the first week of January 2022 we sent out to all of our clients the following email and text.

(Dear clients, we are strongly advising you all to sell all of your crypto currency and all NFTs that you might have).

The bull ride is over and we are expecting the Bitcoin to go under 20K by the end of 2022.

And we also advise you to sell all of your stocks and stay liquid until at least the summer of 2023.

We got a lot of pushback and a lot of emails wondering why the hell we where advising our clients against owning NFTs, crypto and stock in 2022.

Where we idiots who did not understand this new market or what?.

For most of our readers and clients we have been warning about the housing bubble to burst in 2021.

It got delayed by a good 18 months since the federal reserve decided to start printing USD and it has caused large parts of the inflation we are living true right now!.

So we saw this crypto crash and stock crash not to mention the housing crash coming a mile away.

Fortunately most of our clients did listen and sold off over the spring and the summer there portfolios.

But getting back to FTX and the scammer Sam-Bankman Fried.

How very intelligent people and investors can handover clients money to a person that refuses to dress properly and who does not even know how many people are working in the company, is just plain and simple sad to see.

Mrlifeadvise meet several high Wall street guys in the late 90s in Moscow and we can say with all certainty that many of these hot shot investors are not very bright.

But they are great at playing the game and convincing others to hand over their hard earned money to be invested.

What SBF did so well was that he was donating to the democratic party and he was using well known celebrities to push his agenda.

So both Tom and Giesle are mention in the lawsuit and we expect them to have to pay back north of 25m$ each to the victims and that is about right, since they also had a stake in the company FTX.

Celebrities’ love money and they will sell you what ever crap they can if it means they can make money of it.

Kim Kardashian is a good example of a person willing to help Crypto scammers to get their hands on peoples hard earn money.

SBF was also using a lot of clients money for personal expenses and investments.

There is ONE GOLDEN RULE when you are in charge of clients funds, and that is that you never ever mix that money with your personal finances.

If you end up losing clients money on investments you should have very transparent books for any outside party to have a look at that you did everything by the rule book .

Then investors will accept a loss if the company did everything on the up and up!.

Rather than having it like we have it right now, that clients money are being stolen by the founders of many of crypto companies failing at the moment.

Basically the NFTs and the Crypto market is now dead as we know it!.

And there will be heavy regulations coming very soon!.

Regulations themselves does not always help a lot, just think about the subprime loan crisis in the housing market in 2008.

And the housing market was in 2008 one of the most regulated markets in the world at that time!.

But an almost completely unregulated market like the Crypto currency market is today, is a nightmare for all investors.

We believe that there is maybe a chance to get 10 cents on the dollar back for all the investors if they are lucky in this NFT debacle.

So the money is gone for good!.

Let this be a lesson to all investors out there, if something looks to be to good to be true, it usually is!.

The way you should invest is to buy blue-chip stocks in a down market and forget about them for 20+ years and then you should own your own home and buy that also in a down market.

It is very difficult to make money in day trading or in the crypto scene.

If you have cash over, then invest in a local business that you can be part of, or even better yet start your own business.

Money is usually very hard to make, but it is very easy to lose it quick if you make the wrong investment decisions.

We take no pleasure in telling people ( i told you so!).

But we did just that for a long-time.

And our hearts go out to all the investors in this scam and in every other crypto or nft scam.

In the next 5 years most of the crypto currencies will be obsolete.

Bitcoin and Etherium will be around but not a lot of others.

And nobody will invest in NFTs ever again!.

So here you go folks, stay away from giving away the control of your hard earn money to people that promise you great riches very fast.

We are here for you as always true our business consulting division of Mrlifeadvise.

You find our standard services in our shop in the link here below, and if you are looking for a tailor made service just email us and we will sort that out for you also.

If you are looking to lose weight we would strongly recommend one of our clients blueprints to help you on your journey you find their book at amazon in the link here below.

https://www.amazon.com/Loseweightcheap-Scandinavian-weight-formula-actually-ebook/dp/B07TP3LKHB

https://mrlifeadvise.com/shop/

So guys the recession globally is here right now.

It is a so called perfect storm!.

And based of most of the conversations we are having with our US clients the situation in America is very dire, even with the low unemployment numbers.

The amount of both personal and business bankruptcy filings in August and September of 2022 are true the roof!.

And we have seen nothing yet.

The worst is yet to come and it will stay with us for a few years at least.

Many younger people born between 1992 and 2002 have never seen this type of recession ever.

And we have to be honest as always and say that neither have we, even if we remember the 70s,80s,90s and 2008 crashes well!.

This is a super recession on steroids, that we are seeing right now.

We have the energy crisis of the 70s, the financial crisis of the the 90s and the real-estate crisis of the 2008.

This comes with a combination of America being more divided than ever and a raging war in Ukraine.

To top it all off we have a Chinese banking and real-estate crisis of a size we never seen in our lifetime before.

Our clients keeps asking the same questions every week?, what is happening and what will happen?.

No one can be sure of what will happen in detail.

But what can be said is that we know already now what will happen in the upcoming 12 months time when we talk about prices and finances.

Here is a check list on what will happen in the next 12 months time in the US as an example.

No1: All overpriced homes will drop between 20-50% in price, and all overpriced rentals will drop 30-50%.

People will start to leave blue states due to the high crime rates, which will also bring down real-estate prices across the board.

No2: Grocery prices will continue to rise, but more slowly and will stabilize in November of 2022.

But food cost will be a huge issues working and middle income families, and elderly people on a fixed income.

No3: The crime rates will continue up everywhere, across the nation, but mainly in the blue states.

No4: We will start to see a tsunami of foreclosures all over America and that will keep going on for a longer period of time.

No5: We are are already seeing huge amounts of cars being repoed on a daily basis.

No6: Companies will stop hiring and start firing in December of 2022.

We will see a lot of companies that survived the Covid-19 pandemic true loans, close their doors for good in 2022 and in 2023.

No7: Small to medium sized businesses will have issues with getting funding from banks and this will allow the corporate raiders to come in and swoop up shares in many companies for a lower price than the estimated market value.

No8: Poverty!, this will bring the divorce rate way above the todays 53%, maybe as high as 63% and money usually is a big thing when we talk about the reasons behind a divorce.

So broken families will be seen everywhere across the nation

No9: Wall street and your 401K will drop another 20% easily, so be prepared to work an extra 5-7 years from when you planned to actually retire for real!.

No10: Energy prices like gas and heating will stay high until the US goes back to Trumps energy policies again.

What can you do?

If you can avoid a few of these issues like foreclosure, bankruptcy that would be good for you.

The biggest thing you can do for yourself and your family is to make sure you keep your regular job and see if you can find a second and third job as a side hustle.

Another thing you can do is to stop using your credit cards and pay everything cash to avoid the 20+ interest rates.

The third thing you can do if you have a few rooms to many in your house is to find a relative or a friend who can rent 1 or 2 of those to help out with your mortgage.

So regardless if you are a business owner or an employee, buckle up it will be a very bumpy ride for the next 2 years time at least.

If you want to see the inflation chart you find it here.

https://www.bls.gov/cpi/

And if you need strong advisors for your business, you can always reach out to us for a quote or choose one of our ready made packages.

You find them here.

https://mrlifeadvise.com/shop/

Take care guys.

Mrlifeadvise.

So as many of you know we are first and foremost a small to medium sized business advisory company with global clients.

Most of our clients have an annual turnover between $500K to $8M.

Then we also help some employed managers in companies true our business consulting targeted towards hired managers.

So we have been very busy helping clients with supply chain management and sourcing components from factories world wide.

We will be a bit more active on the blog when we feel we have some good pointers to share with you the reader.

Take care guys.

Mrlifeadvise.

So here we are in August 2022 and the real-estate crash is here.

We have been warning about this for over 2 years time, we did not count on the fed to start printing money they way the did in 2020 and in 2021.

But for our clients and readers this is no surprise, what so ever.

We knew this day was coming and here it is!.

The interest rates in August 2022 is now at a 5.5% level, we believe they will end up closer to 9% by the end of 2023.

The last time we had this kind of superinflation was under Jimmy Carter and the rates where as high as 17%.

That will not happen this time around.

But for a home owner with a mortgage that will increase to 9% from maybe 4.5% in 2020 that is a big deal!.

The foreclosure rates where 700% higher in July 2022 than they where in July 2021.

And we think that the housing crash of 2007-2009 was nothing to write home about, compare that we will see in 2023.

This will go fast and it will kick off for real in October of 2022.

We call it the perfect storm because everything is going to hell in a bucket and it is going so fast and so wide.

We warned our clients and readers about the crypto and NFT crash already in January of 2022, it was the right read of the market.

Usually when you grandmother is buying crypto you should sell, because the edge is gone.

And this is exactly what happened, to many suckers bought the bitcoin at 60K$ and it dropped down to 20K$.

The second big issue is that salaries have gone up around 3% and the inflation is closer to 15%.

It is not 9%, look at energy and gas, not to mention food and shipping , so the 15% is closer to the reality.

What also worries a lot is that in July of 2022 we have started to see a lot of layoffs in better paying companies.

This will then trickle down to not so well paying companies in September when the middle class will no longer use a lot of services.

In 2023 and in 2024 you will have the opportunity of a lifetime to buy your dream home for 40-55% off the current market listing price.

You will see 900.000 dollar homes drop to 450.000 dollars in many areas when there will be 30% foreclosures in one area.

You have to also understand that many properties have gone up 40% in price in the past 5 years time.

So this is a market correction that is coming, and if you are some what liquid and can afford to put down 30% and negotiate a mortgage rate of 6%, you are good as gold.

But you need a strong credit score if you are goanna pull this off.

Pay off your credit cards and build your credit score even more than ever during 2022 and 2023, there will be a lot of good deals out there in 2023 and in 2024 for those who have access to cash or loans!.

We have seen several watch brokers offer 40% off on watches in July of 2022 compare to April 2022.

And this goes hand in hand with the crypto and Nft:s crash not to mention stock market taking a nose dive in 2022.

There is no lose money in peoples pockets anymore after all these market corrections that came about in 2022.

For our small business owners we have told them from the beginning of this year to stay as liquid as possible.

Small business owners will get trouble getting business loans starting now in August 2022.

And making sure you dont offer to much credit to your customers is a good rule of thumb at the moment.

You will se companies that you believe is liquid today go under in 2023.

There are way to many companies that are living on cheap credit and getting investors to offer more cheap cash to stay afloat.

KLARNA is a good example of a company who has lost 80% of its valuation in less than one year!.

And they are offering a (cheap) credit option for people wanting to to buy products on invoice(credit) even if your credit score is not so high to begin with.

So even big companies will face the music this year.

Our advise to you looking to buy a home right now is to wait a year and then see how much you can save by holding off for one year.

If you have already bought a home make sure you can pay your mortgage, let your cars go and everything-else but hang on to your home.

Even if you have to get your mother in law to live with you and your cousin who rents somewhere at the moment, he can now rent a room or two from you.

Privacy is a luxury you can not afford if your mortgage doubles in 1 years time.

A lot of our clients are contacting us asking what to do both with their business and with their personal finances.

Our advice is to stay as liquid as possible, count that the stock market will go down 20% more this year.

Count with several of your customers defaulting on their invoices and several others paying very late.

Make no large investments into your business this year or the next.

Unless you have a lot of cash at hand, then you can make some really good deals by buying up troubled companies and turning them around.

And most of all , keep your cool!, we will get true this perfect storm also, but unfortunately many people will lose everything in the process, and those storys are always really sad.

There will be as always personal tragedy’s in these market corrections.

We personally feel that many billionaires like Mark Cuban and Elon Musk has pumped crypto and NFTs way to freely towards first time investors during the past 3 years time.

And many first time investors are now wiped out.

We are always here for you as small to medium sizes business owners, and we have a global network that we can assist you with many different things.

You find some of our packages in our shop in the link here below.

https://mrlifeadvise.com/shop/

If you are struggling with weight-loss, we can recommend one of our clients blueprint weight-loss programs.

You find them in the link here below.

https://lose-weightcheap.com/shop/

Take care.

Mrlifeadvise.

Housing crash of 2022!.

Okay guys we are now reliving some what the housing crash of 2008.

The difference is that in 2008 there where a lot of subprime loans that should never have been issued in the first place, but where anyway.

In 2022 the situation is quite different.

We have been warning for over 18 months time that we will see a big market correction coming when it comes to real-estate in many places around North-America.

What we saw during the pandemic was that people where buying homes unseen for record prices not doing proper due diligence on the property itself, or on the area they where buying in!.

The pandemic made it very scary for a lot people to live in the city and a lot of folks where moving out to the suburbs or to a different state altogether.

Normally when you buy a home you really think it true and most buyers are taking their time looking at different areas and many different types of homes in their price range.

Also comparing comps in the area you are looking to buy in, is usually done by almost everybody.

During 2020-2021 what happen was a feeding frenzy into home ownership and many real-estate agents used urgency into their advantage against homebuyers, and a lot of first time home buyers are now under water with their mortgages.

Many homes where put on the market for 400.000$ and sold for over 600.000$ that in it self is a huge problem.

The home was worth 400.000$ but with many buyers you had bidding wars on almost every property listed under 1 million dollars.

Also that large property investment groups where buying up hundreds of properties in one area at the time to fix them up and rent them out did not make the prices any better for first time home buyers.

With the inflation being as high as it is today in June 2022, and FED raising the rate to start with by 0.75% , will see new construction going down even more.

And with the lumber prices and part shortages we wont see as many new construction as we normally would see in the upcoming 36 months time!.

And with the mortgage rates between 6-8% in the upcoming 12 months period we are seeing a lot of difficulties’ coming the home owners way.

If you bought a house in 2019 for 400.000$ you would pay 484.000 over your 30 year mortgage with a 3% interest, now with 7% you will pay over 800.000$ for the same home.

So we are seeing the real inflation chaos hitting the market right now.

Not to mention the heating and cooling costs with the high prices of energy these days, there is very little you can do as a home owner in 2022.

How much will the houses drop in price?, we have said up to 40% in certain areas and for certain home types.

If your home is expensive to heat and expensive to buy, the market will not be there over next few years time.

Two types of real-estate will always sell and that is very high end, all cash buyers and then lower prices properties under 200K.

But most properties are not of this type.

We will see a foreclosure rate that we have not seen since 2008-2009.

But this time it will be normal families with good incomes and a good credit score, who will suffer the most.

The perfect storm is here with gas prices, heating prices, food prices, and an inflation of 10%´+.

Not to mention a lot of layoffs in the IT and better paying trades, so a lot of highly skilled workers will soon be unemployed.

And then they will not be able to pay the mortgage and two car payments.

The 2008 housing crash was fueled by the subprime (scam) where many first time home buyers was lured into buying homes with very little down, and then the interest payments ballooned after the first 18-24 months time.

Now what is the solution for all the good people who have bought a house in 2020-2022 and are now being considered house poor?.

We can as consultants do certain things online, but we always suggest that you go and see a local financial adviser to see if a chapter 7 or a chapter 11 bankruptcy is a must for you.

Because when you default on a mortgage and the property gets sold for less than it is worth you will still be sued for the rest balance.

Many people around the world, thinks that you just leave the keys with the bank and you are done with the property, nothing could be further from the truth!.

And your credit score will go down the drain very quickly.

Which will make it difficult to even rent a home in this current market.

The other way out under from a mortgage is to sell the home at a loss and then eat that cost over time.

The third option is to sit still and do a few moves, but basically you make that decision to live house poor for maybe a decade.

This means no vacation’s, you pick up that extra job and if possible rent out 1-2 rooms if you have the space.

The credit card debt is going up every single day and it feels like credit cards are the only way many people can make ends meet in June 2022.

If you bought a house for 800.000$ in 2020-2021 and it is worth 500.000$ right now, as long as you dont have to sell it right now, you have not lost any money yet.

So if you can keep up with the mortgage payments by all means do so, that is the best solution for most homeowners.

You will most likely never make money on your property but you might be able to recoup your initial investment.

And right now is not the time to buy a home, and no matter how much rent goes up, keep renting until the mortgage rates are down to 4% again.

We are always here for you as small to medium sized business owner or if you are employed and are just looking for consultants to help you move your life forward.

All of you who are looking to buy a home, but have yet to do so, read our pdf-file on everything you need to know as a first time homebuyer.

See the link here below.

Buying a house,Everything you need to know as a first time home buyer.

If you are looking to lose-weight we can strongly suggest one of our clients programs.

You find it in the link here below.

https://lose-weightcheap.com/shop/

Take care guys.

Mrlifeadvise.