These are people that made an offer and the offer was accepted and they are in escrow and they are in the process of completing the home purchase contract. We saw the largest number ever, ever, ever, ever get canceled in the month of March. These are the latest numbers that we have. And April looks to be much worse. So think about this. You had 53,000 homes that were canceled during the escrow phase. 53,000 across the country. This equates to 13.4%, which is huge. It’s just a huge, huge number. Now, the thing that’s happening on a weekly basis is you’re having real estate agents that are horrible that are leaving and they are dropping out like flies because they cannot make a living doing this.

And you know, you got to advertise, you got to have results. You know, you get a guy like Dan, hey, you’re gonna sell my house. You better move it. What are you gonna do to advertise it? I would never choose an agent that was brand new. I’m gonna give you a couple of examples. I happen to live in an area that houses seem to move. Okay. And there are some agents there that do really, really well. They’re community oriented. They know the community. They live in the community that they’re selling and they know what things should be priced at and they go with the ebbs and flows.

Now, this is not a time where you see things go, you know, $100,000 over asking price. It does happen, but not it’s much rarer now. There’s two agents that are basically kind of prominent in my neighborhood and they both had a house listing. I’m like, oh, this is gonna be good. Well, these people had something great where they got together and bet each other who’s gonna close escrow first, which house is gonna move for something. Oh, that’s pretty cool. And they were both priced good. Little different houses. One was nicer than the other.

I thought one of them had a huge lot. I mean, you could build a pickleball court. You could build a pool back there. I mean, you could have a horse back there in this one property because it was so big, but it just needed a little bit more work to it. So both houses, as I’m walking my dog last night, they’re both tempted right now and I’m like, oh my gosh, both of these houses are in escrow. That’s super cool right now. So it’ll be interesting to see which one closes first, but the big lie that things don’t move and that things are getting canceled is just that.

If you are a buyer of anything right now, and I’m gonna give you the real estate example right now, get yourself a deal. Get what you want because it takes this one thing. It takes investigation. It takes research to find out the neighborhood, find out the schools, find out crime, find out what the house is like when it rains. Now, sometimes you can’t do that until it happens, but you can look at things like the floodplain, your insurance, the neighbors. You can talk to the neighbors. Go knock on the neighbor’s door.

Hi, I’m thinking about buying the house next door. What kind of neighborhood is this? And you’re gonna find out what kind of neighbor you’re gonna have too immediately. Oh, hey, my name’s Ted. This is my wife. You’re gonna immediately have that because either they’re gonna be jerks and you’re gonna say, maybe I shouldn’t buy this house, or you’re gonna get somebody who’s gonna welcome you into the neighborhood. I had a house that I looked at and my girlfriend at the time, I loved it. They did this flip and I thought, okay, I’m gonna be able to torture this guy because he’s getting desperate on the price.

And my girlfriend at the time and my daughter hated the house. I think you’re gonna be miserable here, dad. It looks like they did a real cheap job in the flip. Blah, blah, blah. I was dead set to get the house. And then one thing I did, I did my research, drove up there on trash day and the old man neighbor, I’m like, hey, how are you? Oh, I’m great. Thinking about buying this house. Have you lived here a while? I’ve lived here 43 years, a young man said to me. Oh, that’s nice.

What do you think about your house and your former neighbors? Well, it was great. You know, once they fixed the slab and the slab crack, I think you’ve got a good house over there. Huh? What are you talking about? So I went to the real estate agent and said, hey, you didn’t tell me about the slab crack. I want to know the extent of it. Send me over all the paperwork and the repairs. How’d you hear about that? You know, we have a lifetime warranty on that. Bye. Goodbye. Okay. Well, the slab had cracked and they had to pump the slab up and bring it up.

Okay. Well, you go live there. Okay. So anyways, you’re starting to see problems with this because there are 600,000 more houses for sale than there are buyers right now. Okay. Remember the big lie. There’s a housing shortage. We have to build more. You have to rip down shopping centers and office buildings to build places to live. No, you don’t. You absolutely do not have to do this. That’s the big lie. Go buy a house. Go rent a place right now. Oh, wait a second. You want affordable house and you want a free house.

Okay. Well, let me see if there’s going to be a free house. No, there’s not. They are destroying communities with the rental market, with ripping places down to go out and build places. But again, what is affordable right now when it comes to rent? What is affordable? Well, I want to I want an apartment one bedroom place down for 1200 bucks in hell, you know, Missouri. Okay. Oh, you know, I could think about living in hell down as I don’t have a job. No kidding. Okay. My favorite is these people that moved to the middle of nowhere and then they drive 45, 50 minutes to go to the grocery store.

Oh, did you, did you get the butter? Okay. I’ll see you in two hours. You know what I mean? It’s crazy stupidity. Now the advantage to living in my neighborhood is that I could walk to the grocery stores, you’ve got the parks, you got everything around you. That’s just beautiful and open spaced and you can enjoy yourself. Now there’s only one way to put this and that is this is a buyer’s market. This is what it looks like. Well, I thought a buyer’s market down would be my $800,000 house for 200,000.

Now that’s a depression. That’s the end of days. That is the end of the world. Real estate has gone up an absolute ton since 2020 and I don’t care where you live. There’s a lot of people that have seen markets go up. Now, Las Vegas, Nevada, I looked extensively there. I have a lot of agents there that were trying to get me there. Think about this. There are condos in the high rises on the strip. Beautiful, beautiful. Three-bedroom place, renting for $1,300, $1,500. The HOA fees almost $1,000. They’re just trying to get people in these places to, you know, get some money and some revenue.

That’s insane right now. San Antonio, Texas has the highest rate of cancellations. That is 18.7%. Here in California, the next county over, Riverside County, you’ve got 18% cancellations. Once again, working class neighborhood, out of control. They, you know, you want to sit in the freeway for an hour and a half. My brother just sent me, he lives there, he’s lived there for almost 35 years, sent me something about the traffic. Hey, listen, we all need to work together to solve this traffic problem that we have. No, we don’t. No, we don’t.

This is the municipalities problem to solve a traffic problem. We want you to pay more in taxes because you guys have handled things so responsibly so far. And we want you to consider taking your bike more and taking a mass transit. And I’m like, hey, with all the gang members, I told them, why don’t you let your wife take the bus? Do it. Go ahead. Go ahead. Be first. You know, we’re building hiking trails to help you get through. Now, I don’t know about y’all. I know of no living soul. None that has ever said, you know what? I’m gonna go to the store and take the hiking trail.

How about Home Depot? Let’s take the hiking trail to Home Depot. Doesn’t happen. It does not happen. So, starting to see big problems. The areas of success are the smaller communities. People moving out of the big communities. The big communities and the places that turned a lot of real estate before. Those are the ones having the biggest cancellations because they have the the highest price increase. Now, this affects home improvements. It affects construction. It affects everything right now. Look at the Home Depot. Walk into Home Depot and buy, you know, when you buy a screwdriver next time or a pint of paint because you don’t buy a half gallon, go and ask them.

You know, hey, are people spending money like they used to? They’re gonna tell you, no, they’re not. And it doesn’t matter where you live. You’re gonna have hot areas, yes. But in general, things are in decline. Major, major, major decline. And it’s interesting to say the least because, you know, as you look at areas like Sacramento, 13.8%, San Diego, 15% in San Diego, you know, San Diego was one of the largest test markets in the country. It had the most amount of middle-of-the-ground people, middle of the road people, middle class people.

So you test food, you test products, you test services in San Diego County. That would happen a lot. Now, when you start to see these areas, the national average stays at 13.4%. The Fed is not going to lower interest rates. This is going to be Jerome Powell’s swan song as a, you know, you’ve heard of FAFO. This is an FO, you know, because he’s gonna sit there and say it to the end, okay? And it’s not to find out, it’s the other one. Let’s just drop, let’s drop interest rates. Okay, you don’t have a job, you don’t have a way of eating, food prices have gone up 43% and you’re going to sit there and go buy a house.

I am telling you this, go buy a house. I love my house. I love living where I live. I’m just telling you, you’ve got to go out and you got to be able to afford it right now. The problem with it is that these people that cancel, which is a real big sign, people are canceling because they cannot swing it. They put pen to paper. They don’t sit there and lay out a notebook and say, how much is insurance? How much is the water bill? And again, don’t get, hey, don’t ask the old owner.

You’ve got a family of four and you’ve got the old owner that was a single guy like me that takes, you know, a couple showers a day and puts water in his dog bowl. I’m the last guy you want to ask. You want to go to the city and you want to get, you know, see how much energy is, you want to see how much it costs for gas, heating oil, whatever your thing is, you have to ask that and nobody does that. It’s like when they buy a car, how much is it to register this car? Living in an area where people have to look cool.

You get a lot of real estate agents here that cannot make money. I had a friend of mine who had a company and this was five, six years, six years ago and they said, listen, we’re going to close our division. We’re going to offer you guys a buyout. We’re going to give you a year salary, this, this, and this and insurance for a year. And my friend said, I’m going to become a real estate agent and I invented this and I’m going to, he had a name for himself and all this stuff and I said, please, go shadow a successful real estate agent, tell him you’ll work for minimum wage, got the money, just don’t go spend on advertising.

No, he had to print notepads and calendars and things that don’t sell homes and couldn’t get one person, couldn’t get family members to list their house with him and he was so offended by this. My girlfriend bought a house and went to a childhood friend that she had known for 30 years, his father who literally came out of retirement to find her her house. Her house, she found for $60,000 under market because it was a pocket listing for somebody and they don’t want to be a rental anymore and they’ve done a bunch of remodeling too, but you know what, I just don’t want the headache of dealing with this.

You know of a buyer, somebody that can flip this place quick, that’s what you need, you need that. Oh my gosh Dan, that sounds like work, it is work, everything is work. You want a free home, there’s no such thing. You want, you know, my favorite is, you know what, I am gonna drive over to that shopping center right now and show you something. I’m gonna show you where they’re ripping down a shopping center right now and they’re gonna build hundreds of condos and apartments and they’re gonna have four, four, four, four affordable housing units.

What in the heck is that? By the way, I have a private channel, I Allegedly Lie, where I, you know, speak my mind, speak freely and I love doing it and that’s where you’d have, you know, free content, free love, if you know what I mean. Let me know what you think so far and I’ll end it with the, I’ll drive by that complex, you can see what hell looks like. So this is the shopping center called the Enderly Center that was purchased by a developer. They just ripped down and shut down the gas station, they tore out all the gas tanks there and they’re gonna build apartments here.

Mommy, I smell oil exactly. They’re gonna put up an apartment over this whole area. This was El Torito, closed. They’re ripping it out. I could go through the backside and show you this. You’ve got Zoves Bistro, one of their original locations, closing. 17th Street Bar and Grill, closing. They’re gonna build apartments here, isn’t that great? In this shopping center. The Enderly family should be ashamed of themselves for selling. This place is made millions of dollars a year, but when your dad dies and you have no talent and you’re just a badass and you want to leach off a dad, you sell the property.

So that’s what they did. Think of the hundreds of jobs. One of my friends, her best friend, was the bartender at Zoves. Not anymore. Crab Cooker over there, I’ve talked about them extensively. They’re going to be done. It’s pathetic. It’s sad. But again, more affordable housing. Remember, there’s 600,000 more housing units for sale than there are buyers right now, but there’s a housing shortage. That’s the lie that you’re being told. Please don’t forget to hit the like button, subscribe to the channel, and then you get these ass clowns that back into their parking spots.

Okay? Share your thoughts. Let me know what you think about this. But this place is done. Isn’t this amazing? Sad. It’s sad. Okay? Let me know what you think. You want to get ahold of me? It’s Hello at iAllegedly.com. [tr:trw].

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