1868: Staggering Year-Over-Year Inflation Destroying the Middle Class: Skyrocketing Rents, Travel & Auto Loan Troubles
There have been staggering price increases around the country in the last year in many sectors. Jason Hartman gives you the latest year over year numbers on rents, hotels and auto loans. The increases are staggering! In just one American city, rents have increased 40.8% in just one year! It's truly shocking to see rents go up that quickly, but if you take a quick look around the world, it\u2019s even worse. When a housing market correction eventually happens, it will put upward pressure on rents. That's the beauty of income property. Other asset classes such as the stock market, don't have the great multi dimensional characteristics we have with income property.
As economic times change, the middle class is continuing to be hollowed out and things that were considered normal will soon be luxuries for many people. The destruction of the middle class has been underway for decades and it's coming to a real inflection point. Traveling, buying your own house and having your own car will be a thing of the past for many.\xa0 So, what's the moral of the story for today?\xa0
If there's a big economic recession, you\u2019ve got to have financial self defense. As you\u2019ve heard Jason and others say before: don't wait to buy real estate, buy real estate and then wait. Income property is the most historically proven asset class in the world. Mortgages are still below the rate of official inflation and dramatically below the rate of real inflation. You're getting paid to borrow money and you're automatically getting inflation induced debt destruction. Go to JasonHartman.com and let Jason and his team assist you in your investing journey!
Key Takeaways:
0:00 Welcome to The Creating Wealth Show Episode 1868\xa0
1:00 Those who do not learn from history are doomed to repeat it
2:51 Massive government deficits\xa0
5:01 Reagan, the debt ceiling and inflation
7:56 The Federal Reserve was created when no one was paying attention
8:55 Increase your credit lines at www.jasonhartman.com/fund and protect your assets at www.jasonhartman.com/protect
10:38 Take advantage of inflation induced debt destruction
11:31 Rents are high now, but will go higher
15:31 Rents are much more expensive around the world
19:38 Inflation is worse around the world
21:55 Subprime crisis in the auto loan industry
23:29 Other asset classes don't have the multi dimensional characteristics of income property
25:11 The government wants to push us into mass transit or into electric cars
28:48 If there is a recession, you\u2019ve got to have financial self defense
30:42 As economic times change, the middle class is being hollowed out
34:44 Don't wait to buy real estate, buy real estate and then wait\xa0
35:20 Learn more at www.jasonhartman.com
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