4.8 • 7.8K Ratings
🗓️ 18 December 2022
⏱️ 9 minutes
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In this Cliff Notes MG the Mortgage Guy talks about how to shorten your mortgage payments and other mortgage hacks. #mgthemortgag
eguy #realestate #mortgage
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| 0:00.0 | It's a crazy time that we live in. Everybody knows obviously we're in the age of corona. |
| 0:05.6 | I remember texting you when the corona first hit, I'm like, you know, |
| 0:10.1 | Westwood and Stock Market was crashing. I'm like, it was real estate market about the crash. |
| 0:13.7 | And he was like, no, it's not. And I'm like, how? People losing their jobs, stock markets, |
| 0:19.5 | crashing. People can't go to work. All the writings on the wall for another 2008 to happen. |
| 0:25.7 | And he was like, no, commercial real estate might be in trouble, but residential real estate. |
| 0:30.4 | I'm like, all right, we'll see. And then to this day, it hasn't cracked. It's actually going up in most |
| 0:35.6 | places in America. The price, the home prices have actually gone up. It's a shortage of |
| 0:40.9 | inventory on the marketplace. So where are we at right now as far as the state of |
| 0:45.8 | real estate in the United States of America? The market is on fire for residential, |
| 0:51.4 | you know, and I told you this back in March, I said, no, bro, it's not going to happen because |
| 0:55.8 | when people and everybody was kind of saying the same thing, like, you know, 2008 is coming back, |
| 1:00.1 | wait, don't buy, don't buy, wait. And I said, 2008 was different. That was a credit crisis, |
| 1:05.2 | right? This is a health crisis. Credit crisis means that banks, |
| 1:10.4 | Wall Streeters, everybody homeowners, you know, investors, everybody was greedy, you know, |
| 1:16.7 | appraisers, everybody, right? So when the market crashed, the government was reluctant on trying to |
| 1:23.3 | save everybody. They didn't want to bail out everybody, but they had no choice but to bail out |
| 1:28.3 | the big names, right? So with this one, I said, now this is health. This has nothing to do with |
| 1:35.2 | nobody. This is nobody's fault. And if you think about it, if you look at the real estate market |
| 1:39.0 | going into 2020, it was already on fire. It was due for a correction at some point, |
| 1:44.3 | because what goes up must come down, right? But I said, no, this is not going to crash. There's |
| 1:50.8 | no way because the government is going to have to bail out everybody now, right? From the big |
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