shane here i'm shocked and surprised by the mental interest and level of comments from you
guys on a recent video i did i'm surprised by the details and the comments that have come back to me
it has allowed me to even open my eyes even further to this issue and connect more dots i
didn't think i'd be making a second video on this topic but because of all you guys comments on it
it has really kind of opened my eyes and i want to put out another video on this because i feel
that it is going to affect the middle class more than anyone else and it is effectively an attack
on the middle class in the last video on this topic i did poke fun at the conspiracy nature
of the overall topic and that i was wearing a tin foil hat but it's not a conspiracy it's out there
in black and white it is part of a published document put out by the world economic forum
called the great reset to prove that it's not a conspiracy theory i guarantee you youtube
have already put a link down below this video because i think if you mentioned the great reset
in any video they put a link to it no need to click on it just yet you can check it out after
this video there's loads of amazing videos out on youtube explaining the great reset so i'm not
going to spend a huge amount of time going through it i'll only touch on the basic details of it
because i really want to link it back to property and i also want to link it back to concerns on
growing generational wealth so quickly what does the world economic forum say about itself and
what is it so the world economic forum basically brands itself as an international organization
for public and private cooperation the forum engages in the foremost political
business cultural uh and other leaders of society to shape global regional and industrial agendas
the members of the economic forum include state leaders they also include the top 1000 companies
in the world ranging from banks tech oil companies car companies including google hence why youtube
have a link to it down here in 2020 the world economic forum published its agenda on how
the world should advance after covert nothing major concerning about this but the concerns
lay in some of the headlines that were there these headlines were you will own nothing and
be happy this stemmed other predictions which was the state would control the majority of housing
by 2030 in most major cities the great reset was branded in such a way that it was to deal with the
fallout of covert and how the world could move forward however the document was published so
quickly after covert was discovered that this led to a majority of the conspiracy theories because
it's hard to believe that an organization like the world economic forum that has thousands of members
and thousands of different business interests could all come together so quickly and publish
a document that had this agenda that you would own nothing and be happy about it and i think
that's where the conspiracy theories lie because it happened so quickly large companies and states
have been buying up housing and buying up housing within the private market for years now blackrock
have been doing it for a number of years so it's not a new strategy and blackrock have been doing
it all over the world and blackrock are one of the members of the world economic forum so therefore
it's not surprising that they both share similar strategies and it's not surprising that companies
like blackrock want more and more people to be renting but what surprised me the most was the
amount of comments dms and emails i got from you guys explaining the exact same situation
that i had outlined in ireland that states were buying and renting vast amount of residential
property throughout the countries and these emails and dms were coming in from la california new york
brussels belgium luxembourg all over the world that i was getting messages to say that the exact
same thing is happening in their country that the state is buying up residential property left
right and center coupled with private companies doing the same thing but when i dug into a little
bit more and reviewed some of these comments it seems quite obvious that states around the world
are only promoting the building of social housing public housing or bill to rent and that seems to
be common tread all around the world and what is actually happening is the middle class are
getting squeezed and squeezed out of it because there's not enough private housing being built for
the middle class which is causing housing housing prices around the world to increase dramatically
if you think this is happening in your country and house prices are skyrocketing please let
us know in the comments below if you feel that that is because there's less and less supply for
middle-class properties and they're being squeezed out by the state to provide social and affordable
homes so what are the goals of these companies that are involved in the world economic forum
if this plays out as they say over the next 10 years and what are the consequences
for us as individuals if we own nothing will we actually be happy well i suppose the goals
for the companies that are involved in this or driving this or even the states that are driving
this is more profit more control and probably less risk if they control more of the property assets
and from a state point of view it probably helps states deal with their debt burden a little bit
better if they control more assets but why are these big companies moving into the residential
sector originally back in 2008 or so big banks etc were quite happy just to control the debt
however when the crash actually happened probably a lot of these black banks and hedge funds realize
how risky debt might have been and a safer bet might have been on the residential side
companies like blackstone traditionally would have invested in commercial real estate however
commercial real estate has been probably one of the worst performing assets over the last 10 years
and they're probably seeing residential uh apartment blocks as a better and safer long-term
bet but what are the long-term issues for the average person if we do all end up renting and
we are in a society of renting i think we are kind of being conditioned to that form or that model as
we speak we're definitely into the subscription model we've got netflix you can now in america
you can go and get your hair cut unlimited amount of times for 70 a month obviously some people will
take advantage of that others don't but it's all subscription based even getting your car washed
again you can do it on a subscription model so why wouldn't property be any different and the
world economic forum believes that people will actually be happier in themselves if they don't
own property and are in a rental accommodation renting is very common in some countries take
germany for instance cities like berlin have 70 80 percent of their inhabitants that are actually in
rented accommodation and the system works there obviously there has been some issues in recent
years in terms of price or rental increases but generally speaking that is probably the model that
the world economic forum wants everyone to move to or wants every major city to move to it's probably
not the worst outcome if there is proper tenancy rights and there is protections there for family
but what do you think do you think that it's a good thing would you be happy to rent for the rest
of your life would you be happy if your family's renting for the rest of their lives please put
your comments below and let me know what you think i can tell you for one thing it's not something i
particularly want to happen but i would love to know what your comments are in terms of
long-term renting generally speaking if we look at history property rights or ownership rights have
been quite important in terms of your standing within a community looking back at the english
parliament you had to be an english lord to be to be a member of parliament also if you look at
the u.s when it was originally set up you have to be a land owner to have a right to vote ownership
has always deemed to be important from a status point of view but also from a wealth generation
point of view it has allowed families to generate inter-generational wealth true ownership of real
estate so is this something you want to give up all that easily i'm not sure i want to just yet
unless we find alternative ways to create wealth for families wrongly or rightly within ireland
owning property or owning your own family home was an incredibly important way to create wealth
and store wealth within a family and also pass it on to your kids and this is my major concern if
this trend does go to a rental only model how will families create intergenerational wealth and how
will they pass wealth on to their kids and i feel that this is where it is going to be a major issue
for middle class families to create wealth if they don't own their own property even for families
that do own their own family home within ireland inheritance taxes make it incredibly difficult for
the next generation to actually hold on to that family home because the tax burden is so high
that most families are forced to actually sell the property sinn fein came out there recently
with their proposed tax plan going forward and they were increasing the percentage even higher
so the outlook for inheritance tax only looks like it's going to get even higher and higher
the original inheritance tax on family homes came in when the irish government wanted to
tax english landlords off their land make it incredibly difficult for the next generation
to hold on to that family estate hence why there are so many abandoned large family homes or large
estates and castles around ireland because the next generation weren't able to keep up with the
upkeep of maintaining those properties because the tax bills were so high however this tax bill that
was originally created to tax english landlords after land is now impacting middle-class families
all over ireland because the next generation can't afford the tax bill unless they sell
off the family home the crazy thing about this is from comments that i've seen particularly from la
was that the next generation are already thinking along the lines of the great reset because
many of them don't want to buy a family home or they don't want to buy a car because they see it
as too expensive and they don't want to get into that level of debt so perhaps the mindset of the
great reset is already embedded into the next generation if the goal is globally for the next
generation to be renting i think the middle class really need to think about how they grow wealth
for themselves and for their families and create intergenerational wealth particularly because
i can see tax bills or inheritance tax on family homes getting higher and higher and that will make
it even harder for families to hold on to family homes and they're going to have to think about
ways to create intergenerational wealth i would love to know what you guys think is the best way
to create intergenerational wealth or the safest way to create intergenerational wealth obviously
there's lots of things out there in terms of bitcoin etc but in terms of generating long-term
intergenerational wealth other than real estate or the family home what do you think is the best
options for the middle class to start pursuing i'm going to work on a new commercial and residential
market outlook and update video so make sure you subscribe to channel that will be out in the next
week also if you want to check out the first video i did on this topic it will be up here somewhere