Valuetainment - ＂Americans Are STUCK!＂ - WSJ Report REVEALS Why Families AREN'T Moving Or Switching Jobs

00:00:00.000 Americans are moving to new homes and cities at the lowest rate on record with only 7.8 percent

00:00:06.120 Americans relocating 2023 down from 9.8 in 2019 20 percent in 19 wow in the 50s and 60s 20 percent

00:00:14.460 of Americans were relocating to different areas okay driven by high high housing cost and stagnant

00:00:21.880 job market the frozen housing market prevents grown families like Brandon and Catherine who

00:00:26.980 bought an 1100 square foot home in Summit New Jersey from upbringing upgrading due to scarce

00:00:32.440 large homes and double mortgage payments at current rates with Brandon stating the plan was to stay

00:00:38.480 five to seven years and then we'd upgrade to our family grew economist including Chang Thai Singh

00:00:44.520 uh man I totally butchered that but from the University of Chicago note that this immobility

00:00:50.900 linked to expensive housing weighs on U.S. gross domestic product as it limits job opportunities

00:00:56.100 and earnings the job market has slowed with hiring quits and layoffs activity in white collar

00:01:01.240 industries dropping to the lowest level since 2009 and the probability of workers switching employers

00:01:06.820 falling from 2.8 percent monthly in 1990 to 2.3 percent 2020s according to Philadelphia Fed data

00:01:13.180 this is pretty wild so Massachusetts due to insufficient relocation assistant high cost living stating

00:01:18.180 this is an engineering grad from University of Penn moving to Massachusetts with almost no money is very

00:01:25.540 difficult and instead found a job in Fort Worth Texas Tom what's going on here what's going on is

00:01:31.160 there's a couple things uh first of all we need to be building more we need to be building more

00:01:36.580 houses but we need to be building them around areas where we get jobs where jobs well how about Arizona

00:01:41.760 rebuild a giant semiconductor factory and so that's what we need we need this this is the hangover

00:01:48.900 from the Biden administration's four years where nothing started this is just a terrible hangover from

00:01:57.360 that and what you have here and when they were telling us that there were there were jobs being

00:02:01.780 made but Vinny remember that they were recounting all the restaurant and amusement park and all the

00:02:06.400 hospitality workers that went back to to uh work after COVID and they said oh look I created all these

00:02:12.640 jobs oh and then we found out all the jobs numbers were suspect and then Trump fired the head of the

00:02:17.640 head of the the uh the fake job numbers okay so what we have right now is we have an economy

00:02:24.240 where people are looking for jobs and they're looking for uh places to buy which really interesting

00:02:30.980 right now if you take 100 people that bought homes take a wild guess what percent of those you think is

00:02:38.000 a first-time buyer say one more time 100 people buy a home okay how many are a first-time buyer oh no

00:02:44.240 90 percent no it's 24 it's 24 i was like oh no 24 percent

00:02:52.760 no no no no 24 why do you do this every time hey Vinny one plus one yes why did you do this

00:03:03.360 go out Kentucky no but it was 30 go wildcats it was 38 percent you go back to the late 90s it was

00:03:11.040 38 percent now it's only 24 24 versus 38 so and there's four things the late 90s was 38 percent to

00:03:18.000 now 24 percent correct damn so here's the four factors number one the cost of the house and interest

00:03:25.760 rates going lower helps people be more affordable but number two if the house is more um expensive

00:03:32.140 you have to check that that leads to um higher property taxes and higher insurance and insurance

00:03:41.120 is being adjusted up because they're changing risk in places like coastal florida like sorry your

00:03:47.400 homeowner's insurance gonna be a little bit higher because of the hurricanes if you take a look at it

00:03:51.460 ready for this in florida they collected 50 percent more uh property taxes um than four years ago and

00:04:01.900 in dallas just in dallas they collected 33 percent more property taxes now the headlines will say they

00:04:07.820 raised property taxes no they didn't the houses became more expensive and then when you buy a house

00:04:12.740 you pay the property tax based on the price you paid for the house so what does america need right now

00:04:18.160 bill pulty is right we need interest rates to go low and it looks like we're going to get 3.25 rates

00:04:25.160 uh cuts in a row starting on the 16th 17th of september then the next fed next fed so get three

00:04:31.880 quarters of a point two now in the end that's good but we also need job creation like factories coming

00:04:37.940 back to america which is exactly what trump's trying to get and then we need homes affordable

00:04:43.820 starter homes to be built in those areas so we need supply so we need supply and we need a job

00:04:51.560 growth and both of those things trump can't do overnight but he's putting things in in place and

00:04:57.200 he's pushing really hard but until then it's a tough job market it's tough for people to find starter homes

00:05:03.040 adam guys go buy a home it's expensive interest rates are high you'll pay taxes you know mortgage rates

00:05:12.460 your maintenance your hoa who cares you also don't have any money for a down payment go buy a home it's

00:05:18.140 the best investment you'll ever make i sense go do that i don't know maybe you're hearing some sarcasm

00:05:23.160 from the guy who's been yelling from the rooftops don't buy a home if you don't have a family or

00:05:30.320 you're not permanently living in a city it is at this point the worst investment you can possibly make

00:05:36.300 and again i'm sure i'll hear it from the realtor crowd there was a book that i read back in the day

00:05:41.460 it was called who moved my cheese you guys ever read this yes what was the basic premise of the

00:05:46.520 book tell us success goes to those who adapt you're ready for it adapt or die you don't have money for

00:05:53.940 a home buddy you don't have a job that pays you enough for a home the one constant in life is change

00:05:59.460 what the world is telling you is maybe it's not my time to buy a house wait till interest rates drop

00:06:05.420 wait till you have a better job move to a different city stay flexible if you have the money go for it

00:06:11.560 if you're just trying to figure it out like vinny it is save that money and rent okay so again to the

00:06:19.100 community that's uh 46 years old drives an uber and is single doesn't want kids is just kind of

00:06:25.720 chill and relax parties in miami 45 years old i just want to let you know phenomenal advice no

00:06:32.420 but also if you're 26 if you're 26 it's also great advice and if you're 36 i don't know about that i

00:06:38.660 don't know if this applies to 100 of people who went back when did i ever say 100 but when we say 36

00:06:44.720 it doesn't apply to everybody because to me i've never lost money on a house i bought never but i made

00:06:51.740 way more money taking my money and putting into my business thank you not even close but the average

00:06:56.440 person isn't that the average person doesn't have uh you know half a million dollars to put into a

00:07:01.720 business and 13 years later the average person doesn't have any money right now the average person

00:07:06.680 doesn't have any money right now but there are people that are working that have a wife have kids

00:07:12.420 and they would like to own a home to those to those who are in that position and your trajectory

00:07:20.260 isn't one that's going to go from a 63 000 your job to a 200 000 your job your 63 000 in 10 years could

00:07:29.700 be 92 i'll let you say in 10 years it could be you know 101 and then 10 years later it's going to be

00:07:36.380 173 in 20 years let's say that's the trajectory you're going to be better off going to a community

00:07:43.460 that's an up-and-coming community that is going to be lower price place for you to buy that's what

00:07:50.160 it's really going to come down to you have two choices have a smaller family or if you want to

00:07:54.340 have a bigger family go to an area where cost of living is less that's really the choices you got

00:07:58.960 a lot of people in in dallas rob can you type in average value of home in frisco in 1995

00:08:06.120 average value of home in frisco 1995 248 000 no i think it's going to be lower in 1995 it's going

00:08:14.820 to be probably 85 000 okay there you go median home 1990 114 000 okay how much is it today what

00:08:22.140 is the average what is the average same exact question except in 2025 in frisco in frisco

00:08:27.780 so i don't think it's 700 but i think it's going to be 375 i'm going 20 25 um so it's going to be

00:08:36.520 six seven two in frisco exactly yes so by the way check this out if you would have bought a house

00:08:44.340 in frisco in 95 30 years later you have 560 000 of equity that's where this argument loses no

00:08:52.340 because i'll tell you where if you would have put that into your stock market or 401k you'd have

00:08:56.960 over a million dollars no you would not so let me let me let me finish with the statement yes sir

00:09:01.340 you're you're using it purely at a 12 percent the part with this house argument and i'm not a realtor

00:09:07.680 i can't believe i'm defending realtors you are because of your ludicrous argument that you're

00:09:11.540 making no i'm a sound judgment i'm a finance guy what i'm trying to tell you is notice that even

00:09:17.640 the arrogant uh financial guru here that the 114 in frisco is going to be 320 000 his reaction to

00:09:26.820 what it is today 672 so now let's do the math what do you think is going to be in 30 years

00:09:31.500 in frisco you think it's going to have the same kind of growth that it had last 30 years no it's

00:09:35.220 not so i'm not telling you move to frisco what i'm saying to you is what is the next frisco what is

00:09:41.140 the next city that's being built they can go in because your value today and the income you make

00:09:47.140 doesn't allow you to go buy a house this big look at fort lauderdale five years ago 2019 you know what

00:09:54.980 the median sale price of a home was in fort lauderdale uh uh five years ago go to 2019 pull up the same

00:10:00.700 exact uh argument rob if you could five years ago 2019 in 2019 it was uh uh uh three uh that's uh

00:10:11.320 medium that's not right yeah that's what it was in 2019 it was 365 today it's what today it's going to

00:10:20.280 be 700 000 let me see what the numbers if you pull it up for today today it's going to be 682 000

00:10:25.700 so it's doubled in six years if something doubles in six years you're getting 12 rate of return are

00:10:33.040 you going to get that every six years in fort lauderdale you're not okay but in florida the

00:10:38.340 challenge with florida is the fact that people are moving here from blue states like new york and

00:10:43.100 illinois you can be strategic about it that's all i'm saying to you right now so if you're somebody

00:10:48.260 that has the ability to buy be strategic about it don't be reckless about it but if you're somebody

00:10:55.320 that 90 of your savings is going to go into a down payment of a house and that's it you're going

00:10:59.960 to be stressed out do not do it don't do it it's not for everybody don't take your entire down payment

00:11:06.060 to buy anything if it's the savings that you have in a bank so there is a part of the argument that for

00:11:11.980 a 26 year old or a 45 year old who is an uber guy no wife no kids relax chilling enjoying fun

00:11:20.960 very minimalistic mindset yeah that also makes sense but if you're planning on having wife and kids

00:11:26.900 and you want to find a way to increase your net worth the next 5 10 15 years there no one philosophy

00:11:32.420 applies to everybody just be a little bit more strategic about it what percentage what no well thank

00:11:37.180 you for the personal um uh reveals however what percentage reveals and the world knows the

00:11:43.680 okay good well thank you for reminding that go ahead i appreciate that uh you know you're married

00:11:48.080 i'm trying to help you i'm trying to help you you want to be my realtor you want to be my realtor

00:11:53.180 is that what you're saying i would never i will hire you as my realtor adam i've had i know you're

00:11:57.820 part of the realtor association with pat 48 minutes later if you're adam's realtor holy shit you

00:12:05.180 gotta have a therapist with you but go ahead don't ever ask a follow-up question in a meeting with pat

00:12:09.240 because the five minutes goes to 45 minutes and you're labeled an overtalker what percentage of

00:12:14.120 people well you wear it well what percentage of people tom uh should follow my advice versus your

00:12:22.040 advice at this point i'm saying for the average person yeah do not buy houses are it's not your advice

00:12:28.100 adam this is an advice that i've been given for 20 years that if you're an entrepreneur

00:12:32.320 and you have something that can have a higher rate of return than a house don't buy a house i've

00:12:38.660 been saying this for 25 years and i've lived it okay so my idea is i've lived that life i agree right

00:12:45.380 okay but for the person that is not and they're in their career that you may be moving don't lock

00:12:53.140 yourself into something for five to seven years because you may move if you move you buy a house

00:12:57.720 you're locked in to that area okay but for everybody else if your resources allows you

00:13:04.000 ought to entertain it not for everybody percentage of people though i don't think this as a guy that's

00:13:08.660 done and has sold 750 000 life insurance policies in the last 20 something years and has had tens of

00:13:17.520 thousands of clients that we've sat down with no two cases are the same it varies age of kids

00:13:23.720 the the temperament of the marriage are the husband and wife pretty good together do they think they're

00:13:29.180 going to be together is it constant chaos the last two years if it is and you both know that this is

00:13:33.900 not going to be working out you may not want to buy anything together right and try to work on your

00:13:37.620 marriage is she getting demoted is her job going away does she have a job that is there is there is

00:13:43.720 no black and white answer to this it's such a complicated answer the only thing i'm telling you is

00:13:48.820 there is no 100 black and white answer to complicated case like that i agree with you i've never said

00:13:54.760 that it's black and white or 100 what percentage of single people you're not married you don't have

00:13:59.540 kids different lenses i totally get that what percentage of single people should go out there

00:14:05.000 and buy a house today what do they do for a living they make 80 grand a year how much cash do they have

00:14:11.860 in place 38 grand in the bank yeah i'm not buying anything okay i agree yeah i'm not why not

00:14:17.500 because 38 you know if you buy anything with the average price is 500 000 you need to put

00:14:24.380 20 percent down let's just say you put 10 you don't even you can't even afford to buy a house

00:14:28.360 now what percentage of americans do you think fall into that category for the young single you're 30

00:14:33.580 you make 80 grand and you have 50 grand to your name you're asking a question of like this vinnie

00:14:39.780 if you're 47 years old handsome you take care of your body you're funny should you marry an 87 year

00:14:48.660 old who's single i mean what does she do for a living that's how adam's asking this question

00:14:53.140 that's so unfair palm beach is where we're going so should vinnie buy a place right now

00:15:00.100 i'm not doing 20 minutes on the story if it's no print up i'll go all i'm telling you is no two

00:15:06.680 stories is pat who said that yeah let's move on saying that there's a lot of things that's going

00:15:13.300 on right now in the marketplace tomorrow night the 19th tuesday night the 19th at 6 p.m free webinar

00:15:20.040 20 threats 20 business threats you cannot ignore in 2025 we do this every year and it's a new one every

00:15:27.780 single year that we go through i highly highly recommend if you're somebody that runs a small

00:15:33.080 business you're an executive with a company or somebody that's an entrepreneur you're running

00:15:37.200 you're running a business you're planning on doing something for yourself whatever you do do not miss

00:15:41.720 tomorrow night's webinar at 6 p.m august 19th again 6 p.m everybody at the end gets the white paper

00:15:48.300 of the 20 threats everybody gets the white paper of the 20 threats and a couple other items that we'll be

00:15:54.340 discussing on that rob the link for this vt webinar.com go to vt webinar.com to register for the

00:16:01.700 webinar again vt webinar.com if you enjoy this video you want to watch more videos like this

00:16:08.100 click here and if you want to watch the entire podcast click here

Valuetainment - August 18, 2025

＂Americans Are STUCK!＂ - WSJ Report REVEALS Why Families AREN'T Moving Or Switching Jobs

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