The number of mortgage applications dropped by nearly 24% in June compared to the year before as potential homebuyers have been scared away from purchases due to long delays in building, and high prices for homes. CNBC's Diana Olick reports: “The single family market in particular desperately needs more new homes, especially on the lower end where first-time home buyers need some price relief and more supply choices, but we also know that it is getting more and more difficult to deliver from a builder perspective at the wanted price points,” said Peter Boockvar, chief investment officer at … [Read more...]

You know that when it comes to making money, my number one investment is YOU. You’re the one who’s saving money, doing less with more, and taking care of your family. You’re the one doing what it takes. But somewhere along the line, your success makes doing what you do just a little bit more difficult. Sure, you know how to make money. But now what? What you need to figure out is how to keep it, and get a little growth to keep pace with inflation. I know. Easier said than done. In my conversations with you, you’re telling me about the business environment in your neck of the woods. … [Read more...]

You read yesterday about the shortages of food facing summer camps, forcing them to close down. And inflation is something every American is worried about right now, as Bidenomics takes a toll on Americans' savings. Now, inflation is hammering summer vacation for mom and dad too. Higher prices for seafood have forced a local Rhode Island seafood landmark, Flo's Clam Shack, to stop serving its famous fried clams. They just cost too much. Newport Daily News reports: Shellfish are the backbone ingredient for many of New England’s most iconic dishes, but prices for some of the more popular … [Read more...]

At what turned into a disastrous CNN Townhall for Joe Biden last night, he was asked by a restaurant owner how his administration is incentivizing people to get back to work. The obvious implication was, with all the extra unemployment benefits and stimulus being handed out like candy by the Treasury, why would anyone go back to productive employment? Rather than even attempt to explain efforts by the administration to put people back to work, Biden arrogantly blamed the restaurant owner for not paying enough. As though there's an unlimited pot of money owners can tap into to pay whatever … [Read more...]

OK, stocks go down, as witnessed by yesterday’s 700-point drop in the Dow. Does that mean it’s time to panic? Well, that depends on how you’re invested. If you’re with me, as I hope you are, you know that stock market drops are a blessing in disguise to Your Survival Guy. Because when prices are lower, I smile at the better prices I’m getting with reinvested dividends. It’s like real estate. Imagine you’re a landlord like Your Survival Guy was in his early- to mid-twenties. My multi-family in Marlborough, MA, was a cash-generating machine. Rents would come in every month. I’d pay down the … [Read more...]

You have been watching the roller-coaster ride lumber prices have been on here, here, and here. But logs and lumber aren't the only commodities that have been taking a wild ride on inflation. Prices for everything from copper, brass, and tin to PVC pipe have been unpredictable since the COVID-19 housing boom began in "Zoom towns." The chaos of 2020 exposed the madness of living in big cities, and now Americans are looking for their own paradise in the country, which means building houses and using lots of commodities to do it. Add to the press for more building materials a Fed and … [Read more...]

Your Survival Guy’s best money advice in times like these is to get out of debt. I know, I know, how boring, especially when you’re reading about how everyone’s borrowing on margin to juice returns. But here’s the deal. Take a step back for a second and consider how valuable each and every dollar you save really is. Because when interest rates are a half of one percent, you need $200 to make a buck in interest. If you’re carrying debt then get out of it. Plain and simple. Your cash money is just too important to risk losing it. This is not a time to lever up. This is a time to escape DEBTORS’ … [Read more...]

You need a magnifying glass to see how low interest rates are today. I save you time with my chart series here. When everyone's saying, "the Fed isn't raising rates until late 2022 or early 2023," don't you think that's already baked into today's cake? Of course, it is. When inflation is already an issue, the Fed doesn't want to rock the boat and increase the cost for payments on our nation's debt. The Fed is hoping for a good outcome just like any other human. And that's the problem with human nature: hubris. Instead of having a set of instructions and rules to follow in setting rates, … [Read more...]

With two-thirds of Miami condos thirty years or older, it's time for the city to put a focus on remodeling. The disastrous collapse of the Champlain Towers South building has put a spotlight on the city's construction. The Wall Street Journal reports: Engineers say it can take just 30 years for condominium buildings to reach a point when owners can no longer delay making critical repairs. In the Miami region, two out of every three condo buildings are more than 30 years old, according to data compiled by real-estate data firm Zillow for The Wall Street Journal. In at least seven other … [Read more...]