Ep 165: Housing Collapse or Massive Implosion?

I have said on many occasions that no matter what the real estate and financial talking heads are saying, there is a housing market bubble, and it will be the worst we have ever seen. Another transfer of wealth from hardworking Americans to the morally corrupt political and financial institutions is imminent. 

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So what can we do about it? I have lived through three boom/bust housing markets, and the best way to avoid getting caught in the crash is to recognize the signs. Blindly following what the real estate and financial institutions are telling is a sure way to lose a lot of money in a hot market. I have learned never to chase a hot market, and sell when it is hot, not when it is not.

I have heard the same thing in all three hot markets I have lived through… “this one is different.” No, they are not, now, some of the circumstances causing the hot market and subsequent bust may be different, but the cycle is always the same… there are a whole bunch of losers and a very small amount of winners.

So how do you avoid this housing bubble trap? Well, Rob Kendall and I dig into the facts and let you know what your moves should be, and what to expect in the near future.

For those who don’t know, I have been in real estate for 25 years, so I just don’t spout about this as some controversial subject. I have been there; I have lost some, but won much more than the average Joe. I hope this educates people so they can avoid being fleeced by the corrupt financial institutions and housing market in general.

The second leg in The Three-Legged Stool of The Simple Life is Financial Freedom. The key to Financial Freedom is not following the herd to indentured servitude of lifelong debt. Today Rob Kendall and I discuss, the storm that is coming in the housing market and a future recession. We both firmly believe they are unavoidable, the debt is due and someone is going to have to pay for it!

The key is to make the right financial moves, and ignore most of the advice the financial institutions and federal government are telling us, as they do not have your best interests at heart.

Rob Kendall is the co-host of the Kendall and Casey Show heard 9:00 AM to 12:00 PM EST on 93.1 WIBC Radio, Indianapolis. Prior to joining WIBC, Rob served as an elected official for the Town of Brownsburg, where he proudly claims massive tax cuts and government reform as his greatest accomplishments.

Topics Discussed:

* Why, when the financial and real estate institutions tell you “this one is different” get ready to hold on to your wallet!

* How this “housing bubble” has been forming even prior to Covid.

* Why we are in a bubble that has far worse factors involved than the housing bubble of 2008/2009.

* Why you should never buy anything on credit based upon the monthly payment.

* Why the rental market is going to explode in the near future.

* Why and how Rob bought a home now in an overly inflated housing market.

* Why most Americans lose, and lose big in the housing market.

* How this shortage of supply in the housing market was artificially created.

* How property taxes really work, and trust me it is not in your favor.

* Why you should not even be thinking about buying into this current housing market at this time.

* How to buy a house right, and actually make money.

Episode Resources:

The Kendall and Casey Show: https://www.wibc.com/show/kendall-and-casey/

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Transcripts :

hey rob thanks for coming back on uh

your god you’re being a regular how did

i allow this to happen what did i do


but no you you i wanted to do this one

because i’ve been talking about this of

uh i’ve been in real estate for 25 years

so i have a decent experience i’ve owned

25 properties at least

been through this i’ve been through

three boom bus cycles and i keep hearing

in the media this one’s different i’ve

heard this before

and i’ve warned people i’ve done these

economic updates


we did one we recently did one but we

could only touch on the housing so i

wanted to do one dedicated

to understanding the housing bubble

because you’ve been talking about on

your show which uh about

uh property taxes and how they’re

they’re theft and i totally agree i’ve

been dealing with this i sold my last


uh pr for a couple reasons but one of

them was they tripled my property taxes

on me last year out of nowhere they

reassessed it wasn’t up for reassessment

they were reassessing everyone to try

and bilk everyone and they tripled mine

and i went you know they could only

raise it so much per year but the

problem is

i knew it was going to incrementally go

up to the maximum every single year

until they got to that point before they

ever thought about reducing it

so i want to dive into how

how they build these housing bubbles

because it’s kind of a similar pattern

every time

because these bubbles are built upon

they’re not built upon real supply and

demand they are and they aren’t it’s

artificial they they generate it

a bunch of people get rich off it it’s

not us we’re always the losers in these


and they generate them i want to prove

to people and walk them through how this

happened that they do this on purpose

yeah so it’s interesting this new one

the major driver of this most recent

housing bubble in my opinion and this is

based on multiple real estate people

that i’ve talked to about this and as we

talked about in a previous episode i

spent two years buying a house

is that there was so much money in the


and corporations were able to get their

hands on a whole bunch of it and most

importantly because of the federal

reserve working in cahoots with the

federal government they cut interest

rates to where they were so low the

corporations entered in a mass scale

into the


purchase game and so what i mean by that


uh a rich guy who’s got multiple

heirs children

he could leave the money to them and

then he pays risk paying an inheritance

tax minimum when he dies who’s in charge

etc or you take that money

and he could start a corporation and he

could put his kids on the board or his

nephews or sons-in-laws

daughters-in-laws whatever on this

corporation board

and they start buying real estate

and when they buy the real estate

that money that they spend on the on the

real estate is a tax write-off and the

only money that comes through that could

be taxed is the money that goes to

the profit the rent because now it

becomes a renter home versus an owner

home and that money then is passed along

to the kids and there’s ways you can do

that in a sense that would limit the tax

burden and so now you have massive

corporations competing against regular

people to buy homes and regular people

are almost always going to lose

and well what some people don’t know

either is that some of these

corporations are chinese corporations

china’s been buying real estate in the

us for a couple decades now and they’ve

they’ve highly kind of upped their their

purchase power now they’re buying farms

which everyone should be scared to death

that they’re buying farmland china is


hundreds of thousands of acres of

farmland in the u.s we need to be scared

now now so then the issue now as you

talk about the boom and bust is now the

interest rates are on the rise a lot of

these corporations have said we’ve

gobbled up a bunch of real estate it

only worked if we were paying you know

two percent interest and now that the

interest rate is five five and a half

going up they’re getting out so now

there’s all this you know all these

people who overpaid for these properties

if the value goes down because fewer

people want the properties the problem

you got now is there is there’s going to

be a rental crisis which we can get into

i’m sure in a minute yes but i remember

when i was in college my first job in


uh a summer job in college was i worked

for a masonry company that did uh

foundations for homes and that was 2003

which was when the last housing

boom was beginning right and i remember

the time we were building homes and i

would ask because we were doing like

three or four slabs a day

and i i i asked my foreman one time i

was like who is going to live in this

many homes and he goes they haven’t been

sold yet so why would you build a home

and not sell because they know they will

sell it i said that’s that’s insanity to

do that and so

it’s a different reason but again it

comes back to

in that case then the government forced

banks to give people favorable or they

viewed as favorable access into homes

the loans obviously ended up not being

favorable but in this case it was the

government again creating an interest


in which mega corporations could get

into the housing business

well and it it originally started

the last two booms the i was fairly

young when i went through the first boom

i was a teenager i think i was in was i

in college

no i was out of college but i was too

young i didn’t i hadn’t gotten into the

housing market yet because guess what

rob i know it’s gonna sound crazy

i couldn’t afford it

go figure that

i couldn’t afford to buy a house because

i didn’t have the income level to afford

a house yet

and with this one why this one is going

to be so devastating and i’ve warned


and that’s why i want to bring you on

because you recently bought a property

i’ve sold property i sold all my real

estate i had this i bought this prior to

covid so i did really well i built the

property during the biggest

manipulation of the real estate market

that i’ve been alive for and i did it

for pennies on the dollar compared to

what everyone’s paying i still was able

to do it it was more expensive than i

would have but

i’ve been through this before so i’m

trying to teach people

what to look out for and not to impulse

by it started this one started and i

warned people about the 15

an hour minimum wage i flat out said on

my podcast and interviews i did i said

this is not realistic

i went a living wage is not meant to be

minimum wage it never has been it never

will be when i grew up as a kid i was

able to be employed by small mom and

pops because i was affordable i was what

they could afford i had no skills i was

an idiot i was an idiot for many years

as a low income wage earner that’s what

it was right i never intended or never

expected to be able to buy a home

on anything close to minimum wage that’s


what they did this time is i noticed

what they did is they boosted the

minimum wage because i did the numbers

on it i talked about it that 40 hours a

week at 15 an hour is 31 200 a year if

now you have two people doing that

you’re in the 60 000

range a year with no skills no tangible

skills whatsoever you’re the bottom of

the barrel worker now you can afford to

get in the housing market they did this

on purpose i think they knew

this is how you start the next bubble

they started doing it and then from

there they hit the perfect storm because

then covet hit

now people looked at their houses and

went oh i really like my house a lot

because i’m in it 24 7.

then with the states with the really


of lockdowns and restrictions

pushed people who were freedom

like freedom and like living their life

pushed them into another real estate

pushed them out of that real estate

market pushed them into other real

estate markets now people started moving

then with kovid you had remote working

now that opened it up even more

so this whole progression of how this

thing kicked in and then we had interest

rates down to zero so all the financial

institutions even though they’re only

charging two and a half three percent

they’re getting their money for free

their money their loaning out is zero

money far as them it’s costing them

nothing just imagine if you could run

your business on borrowed money that was

free that you didn’t have to pay

interest on

imagine that

yeah and we talked about this in the

previous episode i would not have bought

this house if i didn’t have several and

we laid all them out about why i bought


yeah the the benefit that i had to do

that but i would have never bought a

home if all of those things hadn’t


uh right for me because there is



one the prices are still inflated and

two when you factor in the interest and

is it amazing gary that every time

there’s a crisis

big government

big business

always does well and the people always

do worse and how many times is it how

many times does it have to happen man

yeah i know and i said this at the

beginning of covet because i worked in

this industry i i used to work at the

high level with fda and hhs for years

and years as an investigator when it

busted out i knew how these drug

companies and these players work in the

government i know how these agencies

work i worked in them

i said you’re about to see the biggest

transfer of wealth you’ve ever seen i

went i know what they’re up to i know

what they’re thinking

at first i was worried and then i went

no this is this is because we’ve seen

enough red herrings on the the pandemic

uh threat help for the last 15 years

we’ve been told between the bird flu you

know the the pig the pig flu this flu

that flu everyone’s going to die

so they’ve been ramping us up for this

you know they’ve been working us to make

sure and it just happened to be a

perfect storm well one thing with this

housing crisis what they did too


they played it perfectly in a sense of

because you hear this once did this is

their the financial industry in the real

estate industry they keep saying this

one’s different because there’s way more


than there is houses and i go ah no no

no you manipulated that




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