Yes, all we have know for a few generations now, Property is Wealth. An interesting thought, has the wealth thats been created since the 60s been truly real or illusory? I'll wager only the release of financial constraints by breaking of the $ gold peg in 1971, coupled with the huge inflation pulse in the 70s and early 80s (wiping out debt levels for those who were able to hang on and trade up in property) coupled with the soaring government borrowings to fund big government and dramatically expand social programs, are largely responsible for much the wealth today.

This type of dynamics is what eventually ushers in socialism. Be very afraid of when all those people priced out of the housing market decide they wont take it anymore.

Amazing to see. I have been documenting this for clients. Anyone interested should go to the Federal Reserve website, FRED, and chart 3 things since the year 2000. Include the Shiller Home Price Index (any one you want), vs take-home income, vs the homeownership rate. You will easily see that these rapidly rising real estate prices are not being driven by people who are getting great jobs, making more money, and buying bigger and better houses. This recipe makes the distortion that we are watching right now worse than the Great Financial Crisis. Add to that the overvaluation of the stock markets, as measured by Shiller CAPE, or Tobin’s Q Ratio, and bond prices at their highest in human history, and you have a recipe for disaster, of Central Banks’ making. All of these are distortions created by ZIRP and NIRP. I’ll be ready when the pitchforks and torches come out. I’m just hoping that since I’m in the financial industry, it’s not MY head their coming for! Remember, they called WWI the Great War, and the war to end all wars - until they encountered WWII. Now we barely remember WWI...

"You can sell them as quick as you can bundle them." Where have I heard this before?

Great job and great insight! Loved it!

Interesting story!

Now we know why Warren Buffet is stockpiling his Cash...

commenting after watching first few minutes, I tried to know who are all these cash buy investors, now I am last to know finally after all stuff is over. Thank you!

What is most interesting about this video is what the contributor had to say about "MOST" Americans. "Most americans don't save enough".... that is the real problem across the American financial landscape. If you want to create real wealth you need to live below your means.... "Wealth Creation 101"

This all sounds like 21st century Feudalism to me.

Outstanding video! Thank you RV TV. It provided valuable, well thought out insights into the US single family housing market. It is refreshing to have a video series about housing--one of the largest classes of Alternative Assets. I hope that RV TV will continue to provide regular videos regarding the real estate investment markets, and single family housing markets in particular.

Very good. In Germany it is most unusual to buy your primary residence, the government is supposed to provide the security through the obligatory pension scheme everyone has to buy into (something Bismarck invented to get the uprising socialist party of his back). So only after I moved to the anglosaxon world I found that almost everyone I knew owned their apartment/house. Especially in today's world of monetary expansion, these (affluent middle class) friends of mine are more and more priced out of their own real estate by the market forces. https://www.theatlantic.com/business/archive/2014/10/how-retirement-was-invented/381802/

What was the mechanism through which the middle class accumulated wealth before the world war? Or there wasn't and there really wasn't much of a middle class?

Found this excellent but also pretty infuriating. Wall St. never changes.

Really interesting conversation, enjoyed it a lot! Looking forward to reading his book when it is finally available.

Ryan talks mostly about middle and upper middle class families. He failed to mention Wall Street buying up lower income properties including mobile homes and financing them in droves. John Oliver did a story in April 2019 in which he discussed mobile homes and high interest rate borrowing. Some of the top buyers of mobile homes: Carlyle Group, TPG Capital, Clayton Homes (owned by Berkshire), and Blackstone. John Oliver on mobile homes link: https://youtu.be/jCC8fPQOaxU Additional FT analysis on mobile homes: https://www.ft.com/content/7addf0c8-77d6-11e9-be7d-6d846537acab I don’t think this is just effecting middle and upper middle class families. Institutions are buying up properties across the income spectrum in the US. One of the effects of low interest rates and the search for yield. Thanks RV for putting this together!

Great Interview, a lot info on housing development since the 2008. You missed a big question the Price of houses in the mid to long term ?

Very thoughtful. Well done.