144,000 Evictions The Economic Crisis Nobody Sees Coming

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• 2:41Speaker 04

  Let's get right to it.

• 2:43Speaker 05

  What do you want to talk about first? 144 evictions in Atlanta? 144,000 evictions in Atlanta?

• 2:50Speaker 04

  Yeah.

• 2:52Speaker 04

  This is scary. I'm not gonna say this reminds me of 2007, but it's adjacent. The cities that I looked at in 07, 08 were Atlanta, Las Vegas, Miami to see how the economy was doing.

• 3:09Speaker 04

  Part of a few people in Atlanta, I'm like, how's the economy doing? It's kinda dry, I'm not gonna lie. And even in Miami, I was having some conversations about how things have been flowing over the last few years and I'm starting to get slightly concerned about the economy. And I think Atlanta is a canary in a coal mine that we have to keep our eyes on. But when you saw this number come out, what was your first thought?

• 3:33Speaker 05

  The first thought, so... And MG had a good video. He kinda gave a little bit more context to it. The first thought was I just didn't think that it was right. Cuz they were saying like 500,000 people live in Atlanta. And like 144,000 victims, it's like 20% of the population. So I just didn't actually think that that was an accurate number. But when MG broke it down and made a little bit more sense, where he was like, you can file for eviction for the same person four times, five times. So...

• 4:06Speaker 04

  Gotcha, okay.

• 4:07Speaker 05

  The real number is, but it's still a little higher number. But instead of like 25%, it might be like 12%, right? Or 10% because it's like, you have a tenant. You, like I said, you can actually...

• 4:21Speaker 05

  Three eviction filings can happen for one person. So, but on paper, that looks like it's just three filings. So it looks like most people would say, oh, well, that's three different people.

• 4:34Speaker 05

  But regardless, regardless of anything, he also brought up good points as far as...

• 4:41Speaker 05

  What is, this says a few things. As landlord, your goal is not to evict anybody.

• 4:47Speaker 04

  For sure.

• 4:48Speaker 05

  Cuz it's not, it's not helpful, it's not beneficial. You lose money, it's not like, you don't want to evict somebody as a landlord, that's your last resort. So you have to select people better as a landlord, right? This goes into the selection process. This also goes into the rents that you're charging. The rent that you're charging might be potentially too high.

• 5:09Speaker 04

  Yes.

• 5:10Speaker 05

  And that needs, and it potentially maybe needs to be adjusted. When you see a weakening in the economy, as far as people losing their jobs, the money, money is not, may not be flowing as, and, and this is happening nationwide, but obviously, this probably, it's, it's more glaring in Atlanta.

• 5:30Speaker 04

  Yes.

• 5:30Speaker 05

  I think it speaks to the, no, we've been saying this for a while, though.

• 5:35Speaker 04

  Yeah, at least a year and a half.

• 5:38Speaker 05

  It's definitely spooky hours out here. And like I said, I mean, you know, I hate to keep saying the same thing over and over again, but

• 5:48Speaker 05

  you can't get a job right now. It's hard to get a job.

• 5:51Speaker 04

  Yes, yeah, damn near impossible.

• 5:52Speaker 05

  College graduates are struggling for employment.

• 5:58Speaker 05

  Rent is up. It's almost impossible for the average person to buy a home because home prices have gone up so much.

• 6:05Speaker 05

  When you look at inflation, we was just in LA seeing $8 gas, $8 a gallon for gas.

• 6:12Speaker 05

  Artificial intelligence has only taken a small amount of jobs. And so this is just starting.

• 6:18Speaker 04

  Yeah.

• 6:18Speaker 05

  Imagine when it really goes that scale, how many people are gonna be losing their job from artificial intelligence? Low-level labor, but high labor as well, high-level labor as well. So I think it speaks more to what's to come. This is a, um, an early indicator

• 6:38Speaker 04

  Yeah.

• 6:38Speaker 05

  of, of economic hardship. And when you have record-level debt, it doesn't seem like there's a, there's a quick solution out of this.

• 6:50Speaker 04

  Yeah, and there's no governance on how to even work out of it. We'll talk about some of the crazy stuff Trump had said later. But it says one in four renters in Fulton, DeKalb, Cobb, Clayton, and Gwinnett Counties receiving eviction filing during the last 12 months. Even if, let's say, they double filed or triple filed, the renters still relate. And then also, the rise of the cost, like you said, of rent is too exorbitant. There are almost no normal rent levels anymore. Even for some places here in Houston, like someplace at 2,500, 3,000 a month. When Houston used to be an affordable place to live.

• 7:32Speaker 04

  So when you have that, that's GDP, we have a private credit risk crisis on our hands. Oracle's default swaps are through the roof because of the value of the company. It's a lot of stuff going on, and I don't hear anyone giving any solution on how to fix it. And government isn't trying to fix it cuz they're just trying to get through the midterms. They know if they get the midterms, they don't need to fix anything.

• 7:59Speaker 04

  And that's the scary part, and I was telling Stock Club, we're gonna see what the real effects are of this around May to June of next year. When everyone keeps asking like, when is the crash gonna happen? The, the stock market may not feel it, but the economy overall, late spring, early summer, I think we'll see what the real tale is. So stack your coins. Listen, they just left LA, I'm going to LA. I'm sure they're going somewhere next week. When you see us getting back in touch, I told my mom yesterday, hey, it's election season for me, too. Gotta go talk to California delegates tomorrow. It is time for you to put your foot on the gas. If you're not, um, you're seeing the greatest entrepreneurs on earth.

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  This message is a paid partnership with Apple Card. One thing I've learned over the years is that building wealth starts with being intentional. And one of the things we talk about all the time on Earn Your Leisure is that it's not just about how much you make. It's about how you manage the money you already have. That applies to everyday spending, too. The more aware you are of where your money is going, the better decisions you can make. That's one reason I appreciate Apple Card. You can earn daily cash back on every purchase you make with Apple Card, and you earn that daily cash back every day. I also like that Apple Card keeps things simple. There are no annual, late, or over the limit fees. No fees, ever.

• 10:07Speaker 03

  And you can choose to grow your daily cash by opening a high-yield savings account through Apple Card. At the end of the day, building wealth is about developing better habits and making intentional decisions with your money. Apply for Apple Card in the Wallet app on your iPhone today. Subject to credit approval. Variable APRs for Apple Card range from 17.74% to 27.99% based on credit worthiness. Rates as of October 1st, 2026. Existing customers can view their variable APR in the Wallet app or at card.apple.com. Savings is available to Apple Card owners subject to eligibility. Savings in Apple Card are by Goldman Sachs Bank USA, Salt Lake City Branch, Member FDIC. Terms and more at applecard.com.

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• 13:28Speaker 04

  Doing more, and I've been belaboring this point, even Trump is working at a pace he's never worked at before.

• 13:37Speaker 04

  Elon, the Superintelligence Council, all of them are working at a higher clip, and I keep saying it. Jensen is looking more presidential than ever, and making sure those relationships are intact to keep his company solvent. When everyone keeps telling me, well, Nvidia is the new Bear Stearns, I'm like, how? He's literally flying around the world, like back to your billionaires don't sleep point. He's traveling around the world with China and Trump, and Singapore, to make sure that his deals are in place. Three years ago, he wouldn't have to do that. These are the concessions you're gonna have to make when the economy is limited.

• 14:21Speaker 05

  Yeah, 100%. You're right. Um, yeah. So, so, yeah. So prayers, prayers first and foremost to anybody that's getting evicted, but for sure, the city of Atlanta, it seems like there's a lot of evictions that's happening. Like I said, nobody wins in that situation. It's not like landlords, that's what people need to understand as well. Are there some bad landlords out there that try to take advantage of their tenants? Yes. But a lot of landlords are not bad people. They don't get enjoyment for evicting people, but they also have a responsibility for their family as well. And if you have a tenant that's not paying, well, you're paying, right? Like, you're paying the mortgage. So I know landlords don't really get sympathy a lot, right?

• 15:03Speaker 04

  No.

• 15:04Speaker 05

  But it's like, you know, when landlord, put yourself in their situation. They purchased a building, they purchased a home, they purchased a multifamily home, right? And their, their way of actually keeping things afloat is actually providing housing for somebody else. Now, if somebody is living in said house, and just stops paying rent, well, they're getting all the benefits of living in a house. They're getting the heat, they're getting the gas, they're getting the water, they're getting showers, and you're paying for that. They're not paying for it because they stopped now. I get it. They're like, look, I can't

• 15:41Speaker 05

  pay. I understand completely. But at a certain point in time, that's not the person's responsibility. It's not, it's not, it's not the landlord's responsibility. So I just want people to understand that too, cuz it's not like, I don't think people have sympathy for landlords. And a lot of landlords have gone under, filed bankruptcy.

• 16:03Speaker 04

  For sure.

• 16:04Speaker 05

  And that's what we talked about with Ish, there's a lot of risk, there's a lot of risk that comes with being a landlord, right? So, um, and that's why people do Section 8 housing, guaranteed from the government. But also, what's new, and I think we might gotta do an episode on this for on your leisure, is the sober living facilities. I've been hearing about the sober living thing. They said that they're making a lot of money on that sober living side, but.

• 16:25Speaker 04

  Yeah, that, and that medical side, shot to tie. Tie and drug treatment facilities.

• 16:32Speaker 05

  Yeah, well, that's what I'm saying. Yeah, that's the sober living. It's like a rehab center. The rehab center, they were saying like, you could rent those out, and it's almost another Section 8, but it's even better because the tenants are, they're short-term tenants. They stay for like three months, two months at a time. And insurance companies actually pay.

• 16:48Speaker 04

  Cover, and it's a premium on it.

• 16:50Speaker 05

  Yep, for sure. And it's, so it's a guaranteed bill as well. So that, like, I met a few people, even in LA, that was telling me how much money they was making from sober, sober living.

• 17:01Speaker 04

  Facilities.

• 17:02Speaker 05

  Facilities and anything. So like, that's the real thing that's bringing in a lot of money right now. But if you're a landlord, you wanna kinda mitigate risk as much as possible. So like I said, look to see what tenant you're renting to.

• 17:19Speaker 04

  Yes.

• 17:20Speaker 05

  If you buy a hospital, try to, try to, you know, cuz those jobs are stable. Look at the jobs that's actually stable, right?

• 17:25Speaker 04

  Yes.

• 17:26Speaker 05

  Nurses.

• 17:27Speaker 04

  Nurses, anesthesiologists, doctors, yes.

• 17:30Speaker 05

  Stuff like that. Um.

• 17:32Speaker 04

  Military.

• 17:33Speaker 05

  Yeah.

• 17:33Speaker 04

  At certain levels, yep.

• 17:35Speaker 05

  School.

• 17:35Speaker 04

  Yes.

• 17:36Speaker 05

  Colleges, for the time being. Like, you know, if you got off, off-campus housing,

• 17:43Speaker 05

  the colleges, the colleges, don't put yourself in a situation where you're going to have to evict somebody.

• 17:53Speaker 04

  Yeah.

• 17:54Speaker 05

  It's not, it's gonna be.

• 17:55Speaker 04

  It's not, I know even for Ish, cuz he's talked about this publicly, he had a few tenants that owed him four or five months, and he didn't put them out. That's like, that's tough. Like, cuz you're still having to carry the mortgage and all the expenses. And then his thought was like, okay, if I put them out, it's gonna be on their record. And then I know they're not gonna be able to go anywhere else and then show a year's worth of statements to be able to cover it. Like, I don't think enough landlords get enough credit for the grace they show, when they don't immediately file, and then you're, you're taking those costs. So be careful, but the economy is, is tight.

• 18:36Speaker 05

  And, and as a, as a tenant, you gotta be responsible. Never, ne-

• 18:43Speaker 04

  Yeah, don't be in your stories popping bottles, talking about, I can't cover, cuz some of them do that.

• 18:48Speaker 05

  Yeah, and don't put yourself in a situation that you know you can't afford. That happens as well. Sometimes people, they'll forceify documents, they'll get somebody to write them a letter saying that they make this amount of money. Like, a lot of times, you you put yourself in a situation where you, you just one paycheck away, and things fall apart.

• 19:04Speaker 04

  From disaster, yeah.

• 19:05Speaker 05

  Look, sometimes, like I said, even the roommate thing, right? That's becoming big. Like, look, sometimes we, we in a difficult economy, sometimes you gotta make difficult decisions. Hey, instead of moving in here, I'm gonna move down, I'm gonna move in this. One, one bedroom apartment instead of two bedroom. Or, I'm gonna have a roommate, I'm gonna live with a roommate. Look.

• 19:23Speaker 04

  But it's uncomfortable, though.

• 19:25Speaker 05

  It's better than, it's better than being evicted.

• 19:27Speaker 03

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