Its Going to be a Cool Summer | I Allegedly

Hey, it’s Dan. Welcome back. This is iAllegedly. And I’ve got a good one for you today because we’re going to discuss how it’s going to be a very cool summer. The economy is going to slow down quite a bit. So as usual, like the video, subscribe to the channel, comment, email me at hello at iAllegedly.com if you’d like to share a story or let me know that you like or dislike something. I’m all ears for that. Now let’s get right into this. Here is something 99.9% of the people in the world have never heard of. Bureau of Economic Analysis.

They just stepped forward and said, we are starting to see a cool down in the United States economy similar to what they’re seeing in other countries right now. And that is that people do not have money for anything extra. Inflation is ripping the soul out of this economy and it’s destroying families right now. And with that being said, people cannot afford anything extra. They cannot afford a meal out. They cannot afford to purchase anything. They’re trying to get rid of debt right now that they can. Things that cost them money, that are not making them money.

It’s a real problem, to say the least. So with that being said, you’re going to see the word staycation be brought up a thousand times between now and 4th of July and summer. You’re not going to see people travel like they used to. Now, will 4th of July be busy? It always is, guys. People travel. You know what? Let’s not hop on a plane, but let’s drive someplace. You’re going to see that more and more often. But as far as going someplace, you’re not going to see that. Now, I’m at the montage right now and it’s a nice day.

It’s overcast. There’s no one here right now. Nobody. Nobody, nobody, nobody. Absolutely dead right now. And it shouldn’t be. It’s the height of the season. School’s out. Family should be here. It should be packed right now. That’s not the case. You’re going to see this be a bigger problem moving forward in the future. And, you know, it’s taking a toll on everybody right now. And as soon as you realize that maybe we shouldn’t be spending money needlessly on things we just don’t need, you’re going to be much happier, to say the least. Now, think about this.

There is a growing problem that there are over a million, 1.7 million what they call zombie homes. These are homes that are owned by banks, have bank loans and are about to be foreclosed upon or have to settle their debt with the banks or they’re going to have to be called in. The notes are going to have to be called in. Now, you can sit there and say this is no big deal, but it’s one in 79 houses right now. Now, think about this. You know, in Southern California, in areas like Laguna Beach and Newport Beach, you have a lot of vacant homes.

You’ve got a rich people that own three, four and five houses and they’re here and they’re just going out and doing their thing. And oh, yeah, we’ll go to Laguna next weekend. Those people, I’m not counting those people. I’m talking about people that walked away from their mortgage right now and the banks have done everything they can to eliminate the possibility of a foreclosure. But again, you’re going to have to pay up right now. That’s what’s happening. Johnny Depp, the actor, that guy, which just floored me, he never seemed like a fiscally responsible guy. But he just had to borrow 10 million dollars to keep two of his properties out of foreclosure.

They were going to sell his two properties and again, private lenders that were fed up with story time from the actor. And he had to go out and get a private loan for 10 million dollars to make sure that he could maintain the properties. Isn’t that wild to think about, guys? It’s absolutely unbelievable. You’re going to see this more and more often. And because it’s Johnny Depp, the story’s below, so you can read all this. But these zombie homes and these zombie foreclosures, you’re going to see this more and more often. I’m at the bungalows end of this place.

It’s beautiful up here. It really is. Man, oh, man, you’re going to see problems with this. And the banks are fed up. The experts are now saying that you’re going to see housing prices start to drop in July. July is going to be this magical month for all of us where we’re going to see housing prices drop. Great article below from Fortune magazine and that this is going to be the next domino to fall in the economy. So do you think so? I think that people that think that they’re never going to see housing prices drop are kidding themselves.

There’s such there’s so much building going on. And you can sit there and say that there’s not enough people. I mean, there’s not enough houses for all the people is ridiculous because what’s going to happen with this poor economy is you’re going to see more and more families live together than ever before. You’re going to see four and five families live in one house. Mark my words. Mark my words on that. But do you think that July is the magic month? I personally think it’s going to be September. I really think that when school goes back in session fully, you know, you get kids that go to school in August and kids that go to school in September.

Once that happens, I think all bets are off, guys. I think that this problem with the real estate agent commissions, you know, that’s going to be a real problem. People don’t want to pay these people. There’s a lot of lawsuits still pending out there where people felt that they were forced to use an agent and the agents colluded together with the pricing. Oh, is that what it was? Yeah, people don’t want to sit there and they want to talk about how you’ve got to have your expertise. You got to have your this expert negotiate your real estate.

You really don’t. Not for the buyer’s agent. Find the house, guys. Why is why did realtor dot com drop the realtor leads? Why did they do that? Well, Zillow is about to do the same thing. And the reason for that is they’re tired of the litigation. They don’t want to be tied to this. And not everybody in that industry is a good person. Remember that. And there’s people that do shady things in the real estate industry every day of the week. So there will be a few people that will make a tremendous amount of money like they always do.

But you’re going to see people that will go out and have to get new jobs. There are so many people that are having to change careers right now because they just realize that the writing’s on the wall. Now, with that being said, with this slowdown in the economy, don’t you see it right now? I do. Every place I go to. I’m in Laguna Beach right now. And I could walk up to a restaurant where last year at this time there were lines of people. Pizza places, sandwich places, nice restaurants, everything. It’s not like that right now, guys.

There’s a real problem. And this economic slowdown is only going to get worse right now between now and Election Day. I, for one, believe that we haven’t seen anything yet. I believe when you see that the manufacturing numbers are off. When you see diesel fuel not getting purchased like it was in the past. And you see all of the problems with retail. And you can talk about retailers we hate. I’m not talking about that. I’m talking about people not spending money at the retailers and the convenience stores like the dollar store going out of business. Speaking of that, Dollar Tree just went to the bankruptcy court and bought 170 stores from out of bankruptcy.

And they’re going to open 170 more stores from the dollar store, the 99 cent store. So that’ll be interesting to see how that plays out. And do you care about that? Because again, the quality of these stores has really dropped down. And it’s not. It might as well be the five dollar store. And speaking of that, I was talking to a friend of mine today about a store called Five Below. Five Below, and I’m talking five years ago, was an amazing store. It was everything was five dollars or less, but you could buy clothes. You could buy pool equipment.

You could buy, you know, food. You could buy everything. It was just all this cool stuff for five dollars and less. Now you walk in there. And again, everything’s ten dollars. The quality is completely the opposite now. And it sucks. Okay? So share your thoughts on this stuff right now. Will there be an economic slowdown? Do you feel the frost? Is it going to be a cool summer? Do you think so? Let me know, guys. Let me know. But the other thing are these zombie foreclosures. You’re starting to see these banks. And I found an article how to find a zombie foreclosure.

So if you guys want to look that up, you can do that. But you’re starting to see problems with these banks. And you’re going to see houses that people borrowed this much, and the house is worth this much. That’s going to happen again. Next thing, which there’s an old tool that created problem that’s coming back. And that old tool is the nothing down mortgage. Now, a little bit of a twist on it right now. And what the zero down mortgage is, is like, you know, the average house is 300 grand. Again, where? In California, you couldn’t buy anything for 300 dollars.

You couldn’t buy a one bedroom condo in the war zone. You could go out high, bring your machine gun turret, and set it up. And, you know, you should be okay. Oh, you want to park a car. It’s not really smart to do in this neighborhood to have a car outside. Anyways, you know what I mean? You can buy nothing for 300 grand as I rattle this stuff off. Nothing down mortgages are back. But what they’re going to do, it’s got a little bit of a twist to it. So what’s going to happen is you, your nephew, your nieces, family members, your kids, neighbors are going to go out and buy a house with nothing down.

Now, this is how this is going to work. Let’s just say you’re going to buy a 500,000 dollar house and they’re going to let you walk in there with 3%. Okay? Insanity. Looneyville. They’re going to take that 15,000 dollar down payment and put it at the end of the loan. So, for the next 30 years, it’s going to be interest free. But when you have a action on the deed, a reconveyance, if you go out and refinance, you got to pay the 15,000 dollar. If you sell the house, you got to pay the house off.

Now, if you lose the house, here’s something that they’re not talking about because I called a bank and asked them this one today. Oh, you’d have to get a 1099 from us for that. So, if you buy the house and get this low down payment and take advantage of it, who cares if we lose the house? No, you’re going to get a 1099 for it for the 15,000 dollars as income, just like you did last time. And again, what about these people that are getting the student loan forgiveness? Are they getting the people that get 35,000 dollars? Do they get a 1099 for the 35,000 dollars like they’re supposed to? Or is it just a gift from God and us taxpayers that have to pay this money? Let me know this because it’s sickening at this point.

So, let me know what you think about this stuff so far. Just a quick video for you today. Final, final story. We’ve all walked out of a store and they said, can I see your receipt? Well, here in California, there’s a real huff about this right now. I don’t want to show you my receipt. There’s a great story below about how people are refusing this at this point and they’re saying, you can’t ask me for my receipt. Well, I do believe that this stops theft, guys. I do believe, you know, whether it’s legal or not, I think it’s a good practice to have just because it’s in your basket.

Here’s my receipt. Have a nice day. Oh, they’re violating my civil rights. Oh, really? Okay. That’s the complaint? Okay. Mike Mickelson said, you know what? Get a search warrant if you want to see what’s in my bag. The problem with it, Mike, is that you’re going to see more and more problems with theft. I mean, I’ve seen people steal from Walmart. I’ve seen everything. And it’s just crazy. These people go out and they do really crazy things. The last time I was in San Diego, I went to a Walmart because I needed a charger.

And I went to the back electronics area and the guy’s like, this is totally… How can I describe this individual? He partaked in illicit drugs. Okay, let’s put it that way. Because he was clearly high as a kite and on everything but a choo-choo train at that point. So Mr. Drug Addict was with me. He’s like, hey, man, you going to electronics? I’ll go with you. Get away from me, okay? Well, I get my car charger and he’s like, hey, man, when you have it open, hand me this and hand me this and, you know, and all of a sudden, I go to the employee after he shuts the door.

I go, that guy’s not with me. He goes, oh, no, okay, yeah, oh, yes. So that guy goes up and did something that was funny where he went out and tried to purchase something, stuck his money in, didn’t take it. He goes, hey, man, stop giving me my receipt. Oh, don’t worry about it. I’m like, don’t worry about it. This guy just stole that. So that’s why they do it, guys, okay? That’s why they do it. I could elaborate on that story sometime and I have with other people. Please do not forget to hit the like button, share the video, and if you want to get a hold of me, hello at iallegedly.com.

A bunch of cool stuff is happening this summer, okay? It may be cooling down, but it’s heating up at iallegedly, okay? I just thought of that, okay? Make good choices. I’ll see you guys soon, okay? Send me emails, okay? Love hearing from you. Beautiful day. Thank you. [tr:trw].

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