That’s not true. It’s close to 10 million mortgages that are past due right now. Two sectors. People that recently purchased that cannot afford the home that they buy. Now think about this. In 2019, you could buy a $400,000 house and have a $1,700 a month payment. Okay, seems good. Cheaper than ranch. You know, and if you could get that same $400,000 house, most likely it’s going to be $500,000 right now at least. And the payment is going to be closer to $4,000 a month. The cheapest was $1,600 more a month.

Hello, guys, think about this. It’s doubled in price for these people to pay for these houses. So the people that are having the most difficult time right now are the people that are new buyers and people with low credit scores. People that squeezed into the house maybe didn’t put much money down. You know, here’s the thing about FHA. And that’s what he talked about was these FHA loans and everybody says, oh, it’s 3% down. Well, if the neighborhood takes a hiccup, you take a hiccup. So millions of houses that are between 31 days and 89 days past due on their mortgage.

Now, what’s the significance of that is these figures do not include an NOD, notice of default. Once you have the notice of default, the foreclosure proceedings start. And one thing that happened during the last administration was banks were encouraged not to give this information out. Now, what we’ve seen lately is, again, revised numbers, the amount of money that people owe. We were told in December of 2024 that the amount of money that people borrowed actually went down for the first time in a long time. No, that’s not true. Not only did it not go down, it won up significantly by over $5 billion that people used on personal money.

Now, credit cards, yes. Student loans, yes. Car loans, yes. And don’t sit there and tell me, oh, car loans, that’s great. That means that people are moving the economy along. No, what this means is that people are borrowing more than they ever have right now. That’s the problem with that. The figures are staggering right now. But the banks are not messing around right now where they would give you a break and they would sit there and say, listen, we’re not going to foreclose. Let’s work something out. Let’s put payments on the back end.

Days are done, guys. Those days are done. So the problem that you’re seeing is that the Consumer Financial Projection Bureau, you know, you’ve heard about this because it’s been firings and there’s been, you know, doge claims and all these different things. These guys are supposed to be the watchdogs for finance. One thing I found that was very cool was they have a site that will give you the ability to see who’s behind on mortgages. Check it out. It’s below. You can click and you can look at the whole country. You can look at everything and not you can sit there and say, listen, this is not like 2008, 2009, 2010 numbers.

No, it’s not. But what it is is it’s very serious, guys, because people are behind right now. And the other thing is people that do reverse mortgages. A big telling sign is that when people pass, dad passes and he had a reverse mortgage in the house to make ends meet, kids can’t take over the house. Kids can’t buy it. So they’re having a huge influx of foreclosures in that area. They’re not wild, sad, guys. Absolutely tragic to think about. So, you know, the jobs report just showed us that there is a massive slowdown when it comes to business right now.

You’re going to see everything from layoffs, more layoffs, and people working with less right now. I have been fascinated. I have a friend of mine, Mike, who’s really been a big advocate of AI in his business. And I’m telling you, think about this one. There’s a woman that started an AI dating group. Now, not that, you know, we’re all looking to date, but it’s based on your musical choice called Vineland. And it’s not a sponsor or anything like that. Just a news story, because what they do is you put in your Spotify playlist or your iPod playlist from your iPhone, your Android device.

And from that, you can hook up with people that are like minded, but they use AI to do this. Now, think about this. From a startup, and this is what Mike and I discussed today. Think about this. You have a startup that’s trying to raise money in the Parkinson’s area. And I’m telling you, you would have rashes of things. When you see people try to raise money, all of a sudden you’ll have eight Parkinson’s problems. You’ll have diabetes, you’ll have heart disease, you’ll have hernia problems. And they, for some reason, it would just come in clumps.

You’d have multiple companies doing that. Imagine if you could take AI, artificial intelligence, and determine who the best person to go to. You would not make hundreds of presentations. You’d make three, okay? You guys think this is a good idea? You don’t move on. It’s that simple, guys. I mean, it’s crazy. But to date somebody that has the same musical choice, there you go. I mean, I think it’s great, but what about interest? What about religion? What about sports? What about fitness? What about nutrition? If you were into that, you’d be able to determine somebody that was like minded like you without having to go through it.

Then you could sit there and see what Jennifer looks like. You know what I mean? It’s very cool when you think about this. But that’s the beginning, guys. SEO for companies will be done. There will be no search engine optimization done in probably 90 days. You’re going to be able to have AI take care of all of this for you. I mean, it’s fascinating, guys. It really, truly, truly is. So, you know, one thing that happened lately is I was blown away by this. You know, the cyber truck, when it came out, you could basically lease the cyber truck for $1,000 a month.

Well, they just lowered it to $775, which I’m still thinking, wow, let’s go get a $775 on my car payment. Here is the thing about this. You can rent that large golf cart and drive it around. The only problem with it is that it may not have the mileage package. You know, Alejandro let me drive his, you know, in March. And it was very cool. You know, it was interesting to drive the thing. It was different. I would never own one. But the lease gives people 10,000 miles a year, not a thousand miles a month.

You know, and I was thinking about this last week, driving back and forth to Vegas twice. Hey, we want to meet you. Can you meet? Can’t meet. Yes, I can meet. Okay. Well, yeah. Okay. I mean, imagine just using up your miles for the month in five days. So, yeah, it’s ridiculous. And people are doing it. So, you know, the electric grid is at risk. You’re seeing major problems with the electrical grid and the fact that it’s not going to be able to sustain all the electric vehicles. So many people have gone out and purchased solar on their homes.

And now they’re finding out that it’s not what it’s cracked up to be. So many cities right now are cracking down and saying, Hey, you’ve got an off-grid fee. And even though, you know, 99% of all solar that is installed is connected to the grid of your power company. Why is that? So they can bill you so they can see what you’re doing. And remember, when your meter is going to spin it to them, it hasn’t worked out that way well for a lot of people. So I mean, it’s fascinating stuff, guys.

Video game players, you’ll like this one. The PlayStation has an online app. So all these nerds that live with their parents’ house are sitting there and they are playing PlayStation and they got locked out this week. They don’t know. Was it a cyber attack or was it just a glitch that shut the thing down? Who knows? But all their personal data is on that. You’ve got your credit card. You’ve got your name. You’ve got your email. You’ve got everything that a hacker would want to get. So let me know, guys. Let me know what you think about that.

Because again, you know, I had a guy write me who says, I’m getting a lot of slack because I live with my parents and I’m in my mid 20s, but I went to college and they let me live here for free. Well, I’m not giving that guy a hard time and you shouldn’t give that guy a hard time. This guy’s trying to move his life forward and save money and not be a debt hound. What’s wrong with that? I can’t think of anything wrong with that. So again, if you’re sitting there not working, not contributing, if you’re being a headache and just living off mom, then that’s not right.

I don’t think that’s fair. But if you’re contributing to the household and you’re moving your life forward, good luck, man. Good luck. So crazy. Okay. Just a quick video this morning, you know, the jumping delinquencies, you know, we’re seeing a historic decline in real estate prices also. You guys, I’m telling you this right now. This is the beginning of the end. This guy telling me that all these banks have a lot more loans that are in trouble that they’re not telling about. What about private mortgages? Well, what’s a private mortgage? A private mortgage is when you go to the bank and they make a separate loan and the foreclosure amount.

Think about this. When you foreclose on a loan, that’s not FHA, an FHA loan. Basically you’re right. You’re regulated on what you can charge to post that house and sell that house and do all that stuff. And as I’m looking for houses, he’s like, Hey, look at these two houses right here. You know, these would be great. And both of these people owe a tremendous amount of money for their neighborhood, but you could buy it at basically $150, $200,000 discount. And I was like, wow, man, this is just, it’s crazy what people carry as far as debt right now.

Florida, absolutely Florida. So here’s, here’s the final thing for you. You know, the congestion tax, think about this, New York city food distributors, people that, you know, frozen food, canned foods, dry foods, chips, they’re paying an average of $300,000 more a year to deliver to New York city. Who’s going to pay for that guys? Who’s going to pay for it? I’ll tell you, you and I are going to pay for this. So I haven’t seen anything yet guys. These delinquencies and these mortgages are only going to grow. And the banks, you know, again, the economy is fantastic.

Everything’s great. You’re going to see a lot of problems that are going to happen over the course of the next six months. And as we see one thing that you won’t hear anymore is revised numbers. The revised numbers from the last administration, that’s the end of it, because now they’re going to be truthful and they’re going to make it look like this guy’s a bad guy. And oh my gosh, it’s so much worse than we thought it would be. Whatever. Okay. Because I’d rather have a truthful number and know exactly where it’s at than have, you know, people tell us that everything is great.

Don’t forget to hit the like button. Don’t forget to subscribe to the channel. Just a quick video this morning for you guys. And you want to get ahold of me? Hello at iallegedly.com. I’m so happy to hear from people that have gotten their gifts already. Send some videos, guys. Let us know, okay? And share it with the rest of the group, okay? I will see you guys very soon, onward and upward. And again, the email address is hello at iallegedly.com. [tr:trw].

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