The 2021 Housing CRISIS IS HERE! | Housing CRASH Bailout EXPLAINED

realistically this you know half inch cdx five ply should sell for around twenty dollars a sheet right now it's being sold for fifty eight dollars a sheet the feds are saying they plan to keep rates low for two to three years up until 2024. when they say that they're gonna do something it's all to get the markets to react to those words you're printing they said i think 20 of the entire us dollar in just 2020. and are people running to gold running to bitcoin are they trying to hedge against this i don't look at it as something that i want to have go up in value because if it's going up in value that means you have a deterioration of the system is there going to be a housing crash it's going to be hard to see a crash when everybody sees a comment crashes come when they're least expected what's going on everybody i hope you're all having a great day today in this video i have a very special guest with me known as uneducated economist but in my opinion he's very educated and in this video we're talking about the hot topics that everybody is wondering about the housing crisis is there going to be a housing crash interest rates gold and silver in bitcoin and on top of all that are we seeing inflation deflation what is going on so in this video we got simon with me where everybody's been telling me to collab with him make a video with him because they're loving his content and guys we got him with us right now welcome simon aka uneducated economist how are you doing today doing excellent thanks for having me on today brother that is awesome so before we jump right into i got two things that i'm going to ask for everybody who's watching number one hit the like button what that's gonna do is push this video to people who like this content like you and number two i officially launched my discord we talk real estate money and business in there every single day link is in my description you can jump in and most importantly let's see if uneducated economist jumps in and he joins our discord but with that being said simon i want you to tell me 30 seconds to a minute who are you what do you do and how did you get on youtube explode your channel and make the successes you have now and the following that you got man well my name is simon i call myself the uneducated economist about three years ago november of 2017. i started my youtube channel now a few years before that i had uh been working in the construction industry uh tried buying a house back in 07 and when everything started turning and going down i lost everything i had and went out there to try and figure out what was going on so i fired up google started punching in mortgage-backed securities credit default swaps and just never stopped asking questions and when i um when i talk to people about economics and kind of what's going on they find that uh i can really interpret things that are very complicated and bring up to them in a very understandable way so that everybody can have a conversation on it and people really love my uh analysis that i do for uh for different current events that are taking place i've been working in the uh lumber supply building supply industry for pretty much my entire life i got a job when i was uh 18 years old working at a hardware store and outside of doing a few years of construction this is what i've done my whole life is have my fingers on the pulse of the building supply industry bringing that kind of knowledge to the macro economics people really enjoy the perspectives that i have so that's awesome so so right now you're basically in the industry that everything revolves around in the housing market especially for new construction so you're actually seeing firsthand the prices that are happening and the shifts that are happening so that's that's huge value because i'm a real estate agent i'm going to i'm going to deals where i'm closing with clients on new construction yet we're getting new construction that was one six hundred thousand dollars now becoming 700 750 just because the lumber cost just because they're brick back order just because they have such high demand that they can just do that so that's something that we're dealing with right now so we're diving right into it i appreciate you giving me the intro my question to you that starts off is what do you see happening to new construction development in the short term and long term in regards to the lumber cost regards to materials and stuff what's going on on the back end yeah well it's really difficult to try and foresee what's going to happen here into the future because you know the answer to high prices is high prices and man do we have some high prices right now and uh people are really having a lot of sticker shock right now they come in and really it's two two items that i really track two by four eight standard and better and half inch cdx plywood these are like the two most common pieces of building supply material that you would ever find on a job site so keeping your eye on these two particular items is really going to be telling of where the industry is headed to and to kind of give you an idea i used to sell two by four eight standard and better like i mean back in the day i used to sound really cheap but even just recently like within the last couple of years i remember selling two by fours for around two dollars and fifty cents 86 cents would be kind of typical you know two to two and a half to three dollars right now we have we're selling lumber or two by four eight lumber at eight dollars and fifty five cents it's just far exceeding anything that we had ever imagined we would ever sell a two by four four and then half inch cdx it's just as crazy like i remember selling cdx at the low like i remember selling it down around 16 but really realistically this you know half inch cdx five should sell for around twenty dollars a sheet right now it's being sold for fifty eight dollars a sheet it's just like it's so extremely out of whack that you know the idea that people are building right now is just mind-blowing that they would be willing to put that kind of money forward to frame a house with prices at the elevation that they are you're so you're saying cdx right can you explain what that is two by four yeah yeah cdx so like okay so when you're framing a house you have like the two by fours two by sixes this is like the skeleton of your house then you have the skin that goes on the outside that's referred to as the sheathing this is before all the doors windows siding stuff like that goes on so it's a very critical component to the framing aspect of things and you know you could look at a million houses out there they'll have different windows different sidings different roofings but the framing is all the same it's the same two by fours it's the same half inch cdx or 7 16 osb a lot of uh a lot of builders use which is a similar product to uh to half inch cdx just that it's made more of like a composite material with a bunch of chips but anyway those are like the two critical components to framing or building a a structure after that it's all like different types you know different types of siding different types of windows but those are the critical components now here's the thing now you have you have new builders who are coming into the industry and also old builders developers coming in they're making orders for the lumber they're making order for this material and what's happening is they're building 50 homes 100 homes even a thousand homes at this cost of material let's say it's going to take them a year two years to develop that community what happens when lumber prices go back to normal or dip they're going to be now competing with people who are building across the street from them at a lot cheaper rates because they got the lumber at a cheaper rate are you seeing that to be an actual factor or do we not have to are we not seeing that to be something that's going to happen not yet now yeah we haven't seen the prices drop yet now drop are those builders in trouble because they want the premium price because they paid a premium that's right you know so that's what that's where you're going to be stuck now you can imagine that you have purchased your framing package to frame you know your house up at 58 to sheet cdx but now you're competing with somebody who's buying it at 25 i mean think about how much more that they can drop the margin on that house you know considering how much cheaper that they were able to you know buy that material for got it okay i don't know exactly how because i mean it would depend on how quickly the material dropped i mean if it goes from 58 dollars a sheet down to 55 that's not going to be a really big deal but if it goes from 58 a sheet back to normal where it's like at 20 a sheet that's going to be very devastating and i i just don't see something like that quite taking place we're rolling into the building season there's going to be a high demand for it you know inventory levels are still low on the houses so people are you know demanding the the projects to be done what concerns me the most about it is that i look more at the retail end of things right because you know sure the builders are out there you know buying the material but there's a lot more to that to the building materials than just the builders you know there's retail end of things people are building you know little sheds or shelves or you know building the tree fort for the kids or a chicken coop although these are tiny small projects you got to think that there's thousands and thousands and thousands of projects like these out in every single town that are no longer demanding that material because it's just so expensive so there's a huge drop in demand on this material so how fast it can move who knows i mean there's a lot of things getting you know coming into play as far as where that demand is going to be for this material going into the future but ultimately the question that you're asking are the builders in trouble from buying at this price yes they could be if the price drops dramatically yeah okay that makes that makes sense 100 because we're seeing right now i went to a new build meeting about last week and the builders are now having the buyers bidding on the property the land and the new build and what they're saying is we're not putting a price tag just tell us what you want to pay highest and best by friday and we'll develop for that one person so it's it's become ridiculous especially in markets like dallas fort worth where land is not really there there's not much land and in good areas it's already already developed so it's a lot different and what's happening with the lumber cost is causing a lot of that now we're seeing right now the market explode from two reasons number one supply is very very low which in basic economics like you as an economist right you would call yourself an educated economist but an economy if you got low supply high demand you ultimately have prices go higher so right now we have low supply and housing and then on top of that we have very low interest rates which are causing people to go crazy wanting to lock in that rate do you see interest rates pivoting within the next couple of years one percent two percent higher do you see them staying flat line like they are now do you see them going lower what's your take on that it's hard to say i personally think that we're going to start seeing interest rates going on um you know one of the major concerns and i know that the uh it's it's hard it's hard to try and imagine what the federal reserve is going to do because nobody knows nobody can predict you know some of the ideas and games and tools and stuff like that that these guys come up with but a lot of people like especially on my channel i hear it a lot is it's like you know the fed is going to destroy the dollar we're going to go you know they're going to take interest rates to zero go negative print into oblivion whatever i personally don't think that a private central banking institution is going to purposely destroy themselves like you know i just don't see that they would make decisions that would do that now they have so many people that can show them where things would head if they were to do that so i doubt that they would know the negativity and still do it exactly and so i just try and imagine it's like okay so the federal reserve is not going to destroy things on purpose i would just assume now they also need and they've mentioned this many times that they need a functioning housing mortgage market in order to have an operating monetary policy so keeping the housing market functioning is absolutely critical to the monetary policy as well so now you don't really hear them talking about it but i've heard them state this before so they definitely don't want to see a crash in the housing market but they also don't want to see a blow off top which is what we're experiencing and what canada is going to go through here in any time now so in my opinion the federal reserve is going to do their best to try and allow interest rates on mortgages to continue to go up like if they allow the 10-year like because everything facts the 10-year so if the tenure can go up then that'll drag mortgages you know mortgage interest rates up and hopefully start cooling off the market but at this time it doesn't seem like anything's cooling off it just seems to be getting hotter so that makes sense 100 i know that they the feds are saying they plan to keep rates low for two to three years up until 2024 um is that just talk and you think they can just show up the next day and say never mind change of mind or is that something they would need to stick by to be honest with you everything the federal reserve says is a credible threat to get the markets to react to their words and this is something that i've said in you know past videos before is that it really comes back down to a ben bernanke speech from geez i want to say it was like 2001. and he was talking about how when the federal reserve hits the lower bound when they hit the lower interest rates zero and they're no longer able to drop interest rates to stimulate the economy but he said that that was going to be okay and that they would have other tools they can use one of the tools that they can use is uh jawboning or their words or something like that and the way he related it down to was that a guy invents a gold machine with this gold machine he can produce as much gold at will with very little energy or cost the moment that this information gets out to the markets the price of gold would plummet even before the guy produces a single ounce of gold just the credible threat alone that this guy has this machine would change the market's perception that's the credible threats that's what the federal reserve uses on a regular basis now and that's their main tool so when they say that they're going to do something it's all to get the markets to react to those words that's crazy and i'm with that 100 percent that's i mean i see that happening we see that many aspects in in in the industries in many industries now for those that might not know i want you to give a just a quick example why do interest rates go low and why do interest rates go high what's the reason in a certain economy why do they just decide let's make it lower and another economy they say hey let's make it higher well i mean i guess that would adjust on how much spending and debt was being taken out is if the you know if if people are are out there spending they're out there you know they're working they're getting an income they're out there you know buying cars buying houses doing whatever well then everything's running fine in fact if it happens too much then they have to start raising the interest rates to cool that down to keep things from just getting too too fast things always are going you know start heating up to the point where you get like the housing market and things start getting too hot and you know the sudden you know you have 350 000 homes selling for 500 000 you know things that just don't make sense anymore well that's because the interest rates are so low and when you when you recognize that then you raise the interest rates to kind of stifle that kind of you know that kind of attitude towards things it's hard to understand it in a macro view when you got this whole giant economy and you got so many people hurting needing help and then you got this other group of people who are doing extremely well and you think okay well if we try and deal with the people who are doing extremely well that's really going to damage the people who are doing really bad but they're not really you know in a condition in which that interest rates are going to affect them that bad it's just the amount of help that they get from the people who are doing really well diminishes so you're going to have to take care of the people who do really well so they can take care of the people who don't and that's and that turns turning into a whole political you know thing okay that makes sense and i love how you said it that was real simple of why it goes low why goes high the low rates to stimulate the economy higher rates to balance off and cool the economy and simple so i like how you said that what's your take on on people saying that we had over five trillion dollars printed in 2020 2021 with all these stimulus packages now i know and i'm not a genius on this i'm just a real estate agent who does investments and that's all i know but i know basic says if you're printing five trillion dollars there has to be some type of reaction to that negative you know a negative reaction to that because you you're printing they said i think 20 of the entire us dollar in just 2020. so are you are we seeing deflation inflation are people running to gold running to bitcoin are they trying to hedge against this what's your take on all of that yeah that's the big argument everybody looks at the quantitative easings and they say man that's going to be some inflationary pressure definitely going to have inflation coming into the future on account of all this money printing but it's it's difficult to kind of wrap your head around why this would actually be a deflationary event considering that there's mass amounts of money being printed and it's the reason is is again it's the interest rates it's the reason it's they're so low and kind of the easiest way to for me to understand it and the way i kind of explain it to people is if you could imagine higher interest rates back in the early 80s let's just say for some reason you win the lottery or you inherit or whatever you come across a million dollars you have a million dollars you live in the early 80s you take that million dollars you buy 10-year treasuries with it and you would have a pretty decent return for the rest of your life considering you get like 150 grand a year right you can go and spend that into the economy go on vacation buy houses cars hang out well now you inherit a million dollars you go and put it in 10-year treasuries and you're going to get like a thousand dollars a year you know i mean that's like you know you know i can you know you're not going to go off and spend and have fun and enjoy life you know that's going to be like nothing in fact you might as well not even try so so you can understand like how higher interest rates actually was better for the economy when you had like return on your capital by just that simple kind of understanding taking a million dollars and putting it towards 10 years treasuries now everybody was really excited as the interest rates were dropping because if you were invested in bonds then the bonds were gaining value as interest rates drop you could sell your bonds for a profit so bond market was just like this awesome thing for the last 40 years but now we're here at zero and things are really difficult what ends up happening is that the federal reserve when they create this money and they inject it into the system they don't just inject it into the system like here here's a bunch of cash for everybody to go play with they have to buy things into the system and most of that is loaning it through like mortgage-backed securities and the purchases of treasuries and stuff like that so this lending into the system is not really just like throwing money out there for everybody to just go play with that money has to come back to the federal reserve plus an interest rate so when you consider that the return on capital is so low the money velocity that is moving right now is very sluggish so the that velocity not picking up and being so sluggish on account of the way that the federal reserve has printed up this money and injected it in really isn't going to cause the inflation that people would anticipate they would see on account of all the money printing because the velocity is so low makes sense i got you that makes sense it doesn't i don't know i mean sometimes i think i battle too much you know no no it makes sense like i got you 100 now what's up with gold i mean we're seeing that gold prices i mean ever since the pandemic they've skyrocketed now we're seeing them kind of taking some dips here and there but ultimately people are like i got five mil in the bank we think that inflation is going to happen with the five mil might as well go either by real estate with us so the asset can appreciate might as well buy gold with it others are saying let's pick up some bitcoin because it might be the online gold but all that's for a different discussion what's your take on on the money that you have in the bank and what you should do with it rather than just staring at it should it be invested because inflation might come you know i guess probably the easiest way for me to understand the gold market or precious metals is i don't think about like inflation on whether or not it's going to come inflation is already here like the the definition of inflation is the expansion of money and credit this has already happened i mean to argue on whether or not there's there's inflation that's not an argument anymore i mean it's like the inflation's already here so i guess like i'm sorry i kind of lost what was your question again you're basically saying that it's already a fact that that you're saying that already inflation is right on how to deal with it right and so like like you know by like a lot of people look at like okay so we have this inflation you go and buy gold as a hedge against inflation because as this money pours into the system then it will cause like you know the gold price to go up the idea behind that is like you're going to sell it to the greater fool you know i mean that's the same way i feel about bitcoin as well and a lot of people get mad when i say that but that's ultimately what it is i mean it doesn't have a return on it it doesn't pay rent it doesn't have a dividend it's just it's just an item that you go and buy but the idea that it is like limited in an amount so like there's only a finite amount of it and when they print up as much money and get that into the system and you compare it to how much you have there's really just not that much out there okay so what i look at it is is an insurance policy i don't look at it as something that i want to have go up in value because if it's going up in value that means you have a deterioration of the system so if you really want gold and silver to do really well that means you want the rest of the world to be in crisis which you know what good is that so really it's an insurance policy what i look at silver and gold as is like if the banking system collapses if you know all of a sudden like i don't have access to a job or income or something like that then i have this box of metal like i've used it to buy a car when i didn't have a car i opened it up pulled out a few tubes the guy signed the title over to me i thought holy moly that is so cool you know so i don't look at it as like my inflation hedge i just look at it as like just an insurance policy kind of thing because really if you look at it as like an insurance edge or i mean an insurance hedge against inflation then we should have had this happen like 12 years ago i mean the fed has been printing up like money like crazy and to think that you know all of a sudden now that it's going to make a difference i i don't see where that's going to take place but to find that there's going to be like a collapse of the banking system at some point well yeah that's definitely possible i mean that's happened many times throughout history but the box of silver will always remain and it's always the same that makes sense 100 now we got that one taken care of but here is here is really the the most important thing that we're really dealing with right now at least for me in my industry which relates to your industry is a housing crisis where prices are just it's honestly ridiculous and the easiest way for me to say it is it's very stupid i'm meeting with a client the house is for 350k we offer 400k we waive appraisals we waive inspections we waive anything that has to do with the seller to be worried paying 50k over the price yet we're still losing because somebody else is coming in doing higher than that now is there going to be a housing crash are we in a housing bubble are prices just going to keep skyrocketing will they cool down some people say a crash like 08 50 60 some people say me personally the way i see it is a crash is not necessarily that much but you can say a 10 20 decline can put many home buyers underwater already because they've overpaid so much so what's your take on the housing market do you could you see a crash happening or do you just see a retrace in values and it just cooling down if the rates went up if supply started to go up it's going to be hard to see a crash when everybody sees it coming you know if everybody says that there's a crash coming then there won't there won't be one you know um it's just because people would you know crashes come when they're at least expected yeah and so you know i i thought about the moratorium endings you know because they got a lot of moratorium stuff um i think you did a recent video an excellent video i thought on it too where you really broke down all the different ones and uh you know i think about that and if everybody anticipates that coming then they're gonna deal with it as it comes and it's really going to be more of a shocker to the system that's going to cause a housing market crash in my opinion and so like i just recently kind of did a video just making a suggestion a lot of my videos are really questions out there for people to answer um like a lot of times sometimes i even kind of get into the realms of outlandish but really the comments that i get from it are real well worth it because i get this kind of collective view going but uh one of the things i kind of thought about just recently as far as like what could cause a market crash and that is that that credible threat coming from the federal reserve if they were to change that that thought that like you know that perception that they have put out there for for the investors to to feed on then it can really change what can happen out there in the mortgage markets in the housing industry and one of the things that i'm seeing right now maybe you know a little bit more about this being in the industry yourself is the amount of mortgage-backed securities that are being issued or being created right now and i can only assume with the drop in sales of homes because there's just simply not enough of them out there the inventory and then the drop in refinancing it would lead me to believe that there must be a drop in the available mortgage backed securities out there as well now this is going to do something very interesting to the federal reserve because they are set at 40 billion a month so yeah so the federal reserve they're kind of sitting in a situation where they have to purchase these 40 billion dollars a month to mortgage backed securities but at the same time if you think about it with the lack of sales and then the lack of refinancing that's demand that should be diminishing the amount of mortgage-backed securities out there but yet the federal reserve is still buying in at 40 billion dollars a month well they're already sitting on like a third of all mortgage-backed securities now if this kind of event takes place and continues they would probably end up sitting on a lot more of these mortgage-backed securities this is a problem because if they are the buyer of these mortgage-backed securities what they're doing is they're creating value for it that shouldn't be there because they are a printing press they're not the actual market and when they have a value for that that causes the interest rates to come down that's why everybody is out there able to buy these you know super expensive homes and pay an exorbitant amount for it because those interest rates are low on a on the account of the federal reserve's purchases of those mortgage-backed securities so now the federal reserve is sitting here thinking in my opinion i don't know if this is what they're doing but i would assume that they are thinking this was like okay great now we have even more that we are purchasing out of the mortgage-backed security markets because of the lack of available you know mortgages out there being you know securitized they they're going to have to back out and once they do that once they say okay guys we're going to change it from 40 billion a month to say 20 billion a month the whole market's going to go oh my gosh the federal reserve is changing stance we got to get out yeah right that's going to cause people to like i don't want these mortgage-backed securities and it's going to have the exact opposite effect and the price of those mortgage-backed securities will go down the interest rates will go up and then everybody's going to be like well i guess i can't buy your expensive home anymore yeah you know what i see is um i love how you said that what i see is that we're having this eviction moratorium i mean two days before it was supposed to be just the deadline hit they go and extend it then you have the foreclosure moratoriums then you have the mortgage forbearance in the clear words this says that they're just trying to delay the reaction that they assume that they're going to be getting i mean they say that there's over 10 million people be ha behind on their mortgage payments over 12 million renters who haven't made their rent payments over 20 million that are in potential default that have a threat to being evicted landlords not collecting their rent for over a year the mom and pops landlords that are not getting the stimulus package help and ultimately they're they're probably like screw this once this tenant gets out i'm selling the house i'm not going to deal with renting anymore and you know me personally on the properties that i own the leases that i'm doing is three month leases i'm not even doing a one year term anymore and the reason for that is what if they don't pay by law at least have a three month lease where they legally have to be out rather than me having to evict them because they're not paying rent so the shift that's happening in the market is you know it's sketchy in my opinion on what's happening i see a lot of delays happening i personally believe that there's going to be a catalyst i don't know what that's going to cost something to cause the markets to come down i don't know if it's going to be from the housing market in specific but we've heard a long time ago that student loans are going to cause a crash so i'm assuming not that but i'm assuming a catalyst something around the lines that's very big could cause a crash could cause at least a retrace which a retrace might look like a crash to people because if if the market goes down 20 30 percent that's the true value of the home but for others they're going to think it's a crash that's happening the true values is 300k but you guys paid 400k and and that's why when it goes down 20 30 back to its 300k i feel people will assume a crash is happening so that's kind of how i see things um from from your perspective on on the markets in general because what we're going to do right now is wrap up our convo your your perspective on the markets and whole how do you see things playing out not just in the housing market but in general we're still on the pandemic there are shots being given out do you see things going back to normal in six months in a year do you see a reaction that's hefty that can cause some danger what are you foreseeing just this is not saying that you're guaranteeing it but what do you feel a prediction coming from you yeah i feel that you're probably going to continue to see like you know the stock market do do well um the housing market is very questionable especially you know considering you know a lot of the things that we have talked about so if the housing market changes that's going to start dragging the rest of the markets around with it as well so it's going to be difficult to understand you know what's going to be taking place now as far as i can see what's going to take place i i don't think that we're going to have this wave of foreclosures and you know evictions and stuff like that what i think is going to take place is that we're probably going to end up having a government transition to some sort of like ubi kind of kind of helicopter money thing taking place and like already you can kind of see it take like you know come what is it june or july you have this extended uh child tax credit and so people are going to be getting checks in the mail here and it's going to be over the course of a few months you know a lot of people don't even know they're getting that yeah and it's going to be like you know these pennies from heaven coming in for these people and they're going to get used to this that perception is going to end up being the norm and they're going to have to do something as far as like the government's injection of money to the system in order to keep the velocity going that's if we continue on with like you know the game plan that the way it's headed like if you want to keep the housing market going you want to keep the stock market going you want to go do all these things that's what's going to have to take place there's going to have to be continuous injection of money into the system in order to keep things going now if they really want to work it and make it right then you have to have the crash you have to burn out all the bad debt you have to get rid of all the malinvestments and stuff out there and that pain is so dramatic to people that they will not tolerate it they will not vote for people to do it they will blame every single politician and banker out there and so to think that that's what's going to happen it's it's a far off dream you know what they're going to do is they're going to try and alleviate as much of that pain as possible and that's how they're most likely going to do it is with monthly injections now how far down the road that goes i don't know how far along they can keep doing is what you mean you know me personally in 2020 after the pandemic within a couple of months i was a heavy shorter in the stock market and i don't know i mean if you come to me and talk to me stocks i don't know much about it it's not my game it's not my industry but if i have some money on the side i'll toss it in so i was shorting a lot of the stocks because it made no sense how a stock can file for q1 q2 q3 negative in the billion such as the airlines yet somehow they go up in value or go up in price so i was shorting a lot of these stocks and i was losing every time i was shorting them because you'd wake up one day and it's up now five ten bucks on the stock and you're like how the hell is that happening so long term i was shorting i was shorting a lot of the stuff even the spy index i was shorting those as well and it's at 400 it just passed i think yesterday and when i was jumping in it was at like 320 350 maybe 360. and then it just started to fluctuate so i don't know the markets are weird i feel like it's very tough if you're trying to predict what's going to happen i feel what we try to do is grab facts grab stats share what we know and what we see and you know even though your name is saying uneducated economist you're actually educating the hell out of the viewers that you have because you're giving them so much value and you're not just speaking what you think you're speaking stats lumber prices are going up period you just shared with me numbers you shared with me how they tripled quadrupled that's value that's knowledge that you have so you know coming from me personally i appreciate you being on the channel taking your time and you're amazing on what you do and like i said the dice is in your car that's like your symbol so maybe i send you some nicer dices and i get those on there as well i know your viewers love that what we had today was you know between me and you and then we're going to also publicize this as an amazing chat i got so much value i learned so much and i wanted to bring you on the channel not just to hear your perspective i wanted to learn from you because you're in a different industry and also you have interest into economy interest into that type of stuff that i don't have enough time to read on because i'm doing the real estate world you you like that you enjoy it you dig deep into it so i appreciate that we're going to get a lot of comments of people liking you commenting about you you're going to get those negative people as well you know you're going to get some people who talk about whatever but ultimately this brought value to the channel and i appreciate you for swinging by spending your time and and doing what you do do you have any last words for everybody who's watching yeah i thank you very much and you know i just uh i just really enjoy talking economics with people i uh want to just bring the uh attention out there for people to understand and it's not as complicated as a lot of people have taken it to to believe you know we can we can break this stuff down we can talk about it so that is awesome guys if you're watching this video right now and you stuck through to all of this make sure you hit the like button make sure that you go to uneducated economist aka simon's channel it's going to be linked in the description click the subscribe button stay up to date with him he gives different perspectives different point of views of things that you it's not you should know it's you need to know because that's what's happening in the world if you know what's happening in the world you'll get your money right your mind right and you'll make more money if you don't you're going to get slapped and you're going to get off guard and you're going to lose money you don't want that subscribe to his channel and most importantly guys if you're on my channel and you haven't subscribed yet i mean i don't know what to tell you guys just click that button and most importantly come on the discord it's in the link below in the description join us chat with us and thank you all so much for watching we'll see you all later thank you so much simon you're awesome man and we'll be in touch on part two thank you guys take it easy and we're out bye

Channel: Karam Khalil

Views: 31,811

Keywords: jason walter, jeb smith, ken mcelroy, minority mindset, epic economist, kristina smallhorn, javier vidana, dan frio, randy patrick, epic real estate investing, j bravo, george gammon, thisisjohnwilliams, uneducated economist, jerry pinkas, stimulus checks, housing crisis, housing crash, housing collapse, real estate update, real estate crash, 2021 housing crash, 2021 housing crisis, foreclosure crisis, mortgage forbearance, eviction crisis, karam khalil, lumber prices

Id: cAcE6XP2u3g

Length: 35min 53sec (2153 seconds)

Published: Thu Apr 08 2021