well ladies and gentlemen the stimulus
bill is officially signed myself
you everyone's aunts uncles brothers
dogs sisters nephew
is getting 600 in the mail now my fellow
youtubers literally like
all of them have been posting content
the last two days on what this means
how this is going to affect you in the
details of this new signed stimulus bill
but
here's the question that nobody is
asking yes
it happened yes we're celebrating but
what does this mean for our economy and
more specifically
our real estate market
hey what's going on guys this is daniel
one half of the quack but there's a yes
as you read in the title and every other
title and every single youtube video out
there the stimulus
has been signed and bernie sanders is
somewhere in china
wearing his winter coat asking once
again for your financial support so that
he too
become a millionaire or a billionaire
uh either way there's a lot of money
being printed and this new stimulus
is indeed signed so on this video we're
going to be talking about how this new
stimulus
does indeed affect the economy and how
it specifically affects the real estate
market
now there is an immense cost to the
stimulus and there is a
giant immense point that nobody has
brought up which i will mention here in
a second but stick around to the end of
the video
because we are actually announcing one
of the three winners of our december
giveaway
now there are two more winners left to
be picked and also announced so if you
want to know how to enter the contest
we are giving away really cool stuff
stick around to the end of the video and
i'll share with you
how to do that exactly now when it comes
to the stimulus let me first start off
by saying that i believe there is no
such thing as a free lunch with all this
money that we're printing out and giving
away
eventually somebody's going to have to
pay for it i'm paying your money please
um it's trash well i believe the people
that are gonna be paying for it
have not been born yet we're most likely
just gonna continue to kick the can down
the road
like we've been doing for decades now
but let's talk about the point that i
mentioned earlier in terms of the
immense aspect that no one is talking
about
now guys this may seem a little bit
obvious to some of you and for some of
you it may be a complete game changer
and it also might be a little
controversial but my personal belief
is that well i believe that these
stimulus programs are going to
accelerate and eventually completely
deplete
the social security fund that's right
i've said it
oh my god i haven't even looked yet i
feel for you
now guys let's look at some of the facts
that have already been existing
before this whole pandemic happened when
it comes to the social security fund
let's consider number one that since
2001 which is
19 years ago by the way i was like seven
years old i think i don't know
but since then the government has been
in a spending deficit a federal deficit
every year since 2001 matter of fact
between 1998 and 2001 are the only years
since 1970 that our government has not
been
in a spending deficit and now you add
the pandemic on top of that
it makes the situation significantly
worse well consider this fact as well
where does social security come from
hard-working americans who spend
countless hours working for a paycheck
and when we look at that paycheck when
we receive it we see that parts of it
does go indeed
to social security now the part that
scares me the most is well remember when
we all received twelve hundred dollars
earlier this year we were all happy it
was the first wave of stimulus
well a lot of people at wharton school
of business and also the committee of
the federal budget
actually indicated these researchers
have actually said
that that first wave of stimulus
actually allowed and caused
the date in which the social security
trust fund will dry up
it actually moved it to 2031
and well with continued stimulus and
these continued programs that are
continuing to come in
a lot of researchers at these
institutions indicate that 2031 can
actually come a lot sooner
than normal meaning that if somebody is
65 years old right now
with the way things are currently
without any additional stimulus any more
checks coming in the mail
that 2031 number could easily be
2026 or 2029 imagine being 65 years old
right now
and by the time you're 70 the social
security trust fund already dries up
oh geez oh i don't think this
is working now how does this affect the
real estate market now in this bill we
saw
two very very obvious components number
one
is that 25 billion dollars will be
allocated towards rental assistance now
my brother sam already made a video
about this yesterday
so i encourage you guys to go ahead and
watch it in terms of rental assistance
and how that's going to be allocated
number two is that the eviction
moratorium is now being extended to
january 31st
as opposed to december 31st now for me
this brings on two questions
number one how will renters and property
owners receive
assistance and number two who is
qualified to receive this i took the
liberty of getting on the official
government website in terms of
where we need to go to receive this
assistance for both renters and property
owners
and also who is qualified so guys i'm
reading it right off the article here
so renters would apply for assistance in
terms of how would renters and property
owners
apply and receive assistance renters
would apply for assistance with entities
that state and local guarantees select
to administer the program once a renter
qualifies for assistance the
administrative entity will
send the payment directly to the
landlord if a landlord declines to
receive
the assistance from the administrating
entity a renter may
instead receive a direct payment from
the administrating entity
to make rental payments to the landlord
themselves
property owners could also assist
renters to apply for rental assistance
under the program or apply on behalf of
the tenant
but it will be required to notify the
renter that assistance is being provided
on their behalf and obtain their consent
in the application now who would be
eligible well there's
three main points that this article here
outlines point number one is that
individuals who have a household income
of no more than 80 percent of an
area median income aka the ami so it's
all in relation to where you live and
well do you have an income of more than
80 percent of where you live
number two have one or more household
members who can demonstrate
a risk of experiencing homelessness or
housing
instability now i don't know what that
necessarily means there's a lot of legal
terms in there that
is very vague and very general uh and
number three
have one or more household members who
qualify for unemployment benefits or
experience
financial hardship due to directly or
indirectly
pandemic related reasons now it pretty
much just goes on to say the same things
but i think you guys get the point now
guys
after reading that and after reading
those two obvious points that is in the
bill
in terms of the 25 billion dollars in
rental assistance and also the eviction
moratorium being extended
to 30 days here are my initial thoughts
now guys obviously everything has not
been said yet
but my initial thoughts are the fact
that this is a mere
band-aid right imagine you trying to
lose weight right imagine somebody who's
overweight they're looking to be a
little bit more healthy is the solution
to change your diet for only
one week now guys there may be some good
that comes out of it right if you're
used to
drinking milkshakes and eating
hamburgers and eating pizza and eating
the oh so delicious
in and out burger right if that's your
lifestyle and for
one week you choose to live like gordon
ramsay and eat broccolis and peppers and
tomatoes and all these fruits and
vegetables
you may drop a couple pounds for one
week of doing that
but it's not until you establish a
healthier lifestyle and working out
and cardio and better diet and you know
better sleep
it's not until you do that until your
body actually begins to
change and well when i look at stuff
like this like this new stimulus build
that got passed i'm glad it got passed
don't get me wrong
it helps a lot of people but it's a mere
band-aid to what's
really been going on this entire time
now having said that
it doesn't solve anything long term if
anything i think it does
more damage long term than it does short
term
because well let's see what we have on
the menu we still have
uh unemployment is still an issue uh the
wealth gap is still an issue
uh the affordable housing crisis is
still an issue
and there are a lot of people right now
who let's be real can't afford to get
off unemployment
now what do i mean by that well these
are the individuals who they're
receiving
more from unemployment than actually
working i recently had a conversation
with a property manager friend of mine
and literally he's seeing half his
tenants who are actually receiving more
in unemployment compared to what they're
making at their jobs
and he's like man this is crazy a lot of
our tenants are literally
walking around not able to pay rent but
they're walking around in louis vuitton
bags
in coach in michael kors and all these
big designer brands
that they usually would not be able to
afford if they were working their
regular job
but now they can because of all the
unemployment benefits that are coming in
and these are the same people that
again are not paying the rent it's
partial payment or they're behind
it is what it is right people have the
discretion to use their own money based
on what they seem fit i guess
right now guys there might be those
individuals who say but daniel right
what about the delinquencies what about
the displacements what about all these
things
that are going on what is gonna happen
with those now having said that guys i
have a lot of thoughts
towards those things but there's a lot
of things that we have yet to see this
is really
only the tip of the iceberg right we
have to see how things react to the
eviction moratorium
we also have to see how this new two
thousand dollar per citizen stimulus
this new thing that they're talking
about
is going to impact and whether or not
it's really going to go through
but i do have some data points that are
very well relevant and i'll let you guys
be the judge right you guys decide where
we think we're going to head based on
what i'm about to say
according to business insider as of
december of 2020
up to 20 million americans are
officially behind on rent
and may be in danger of evictions an
estimated 12 million americans are
behind
at least by an average of 6 000 on their
back rent and while the total amount of
back brand that americans now owe
went from seven billion dollars roughly
from earlier this year it's now over
70 billion dollars to where we are at in
december
of 2020. now having said that it is 25
billion
enough again you be the judge now what
worries me is that joe biden
our supposed president-elect we still
have to see what's happening over there
has stated multiple times that he will
use executive orders to continue the
eviction moratorium as
need be now as need be can be defined as
anything you want from a landlord to a
renter to wolf according to the renters
it's forever right it's infinite in
terms of the eviction moratorium
now what the part that scares me even
more is that joe biden actually
again has said on multiple cases that
he's willing to go as far as to
institute
complete rent forgiveness now guys let
me know in the comment section below
is that fair because personally i don't
think that's fair right if you signed
the lease if you signed the contract and
you signed your name
on a dotted line saying to the
individual that you will pay a certain
amount in every single month
i do believe there is an aspect or at
least to some degree
where you are responsible right have we
completely lost all responsibility in
today's day and age
i hope we didn't right but let me know
what you guys think is that fair
is rent forgiveness just let me know
what you think whether you're a renter
landlord i don't care who you are
let me know your thoughts now obviously
i still have a lot more thoughts on how
the real estate market could be affected
based on what gets passed but of course
we have to see in time we'll have to
tell now having said that if you guys
want continual updates
on how the real estate market's gonna
get affected how the housing market's
gonna get affected
and also new stimulus things that are
being passed go ahead and subscribe to
our youtube channel click like on this
video and also click on that
notification bell
if you want more information hey
congrats on making it to the end of the
video now as some of you may know my
brother and i have been doing a little
bit of a giveaway here in december and
we've been giving away
three copies of our book zero to 75
rental units in one year how my brother
and i went from literally zero to 75
rental units
in one year the title is very
self-explanatory but we're looking to
give away
three signed copies with a little gift
inside may or may not be a gift card
now i'm very happy to say that we
already have our first winner which is
mr
aaron lewis so congratulations my
brother uh you will be receiving
a signed copy of our book zero to 75
rental units in one year along with the
gift inside the first page now if you
guys want to enter so you guys get your
chance to win the other two
feel free to email us at info
thequackbrothers.com
with the subject line zero to 75 contest
and if you want to get fancy put in the
body of the email what your goals and
initiatives are for the year 2021
and we will be announcing two more
winners in our videos to come
so again don't forget to like and
subscribe and i'll see you guys in the
next one