Which version of the program are you using and on what operating system? What processor is in your computer and how much RAM do you have?
What model of camcorder is your video coming from and what format and resolution is it?
Premiere Elements 13
Windows 8, I have 806 GB free space on my computer (I'm not sure if that is what RAM is, sorry!)
My camera is the Canon Rebel T5i and 1080 HD
Your camera saves its video in MOV format. In most cases, Premiere Elements 13 can automatically set up your project based on your project specs, but it can have problems with the MOV format. A mismatch between project and video can cause the lag you're seeing. This mismatch will be indicated in the Expert view workspace by a yellow orange line along the top of the timeline. Is there a yellow orange line along the top of the timeline above the clips you've added?
If so, first make sure you have the latest version of Quicktime on your computer, per the program's requirements.
Then go to Premiere Elements' Edit menu and open Project Settings. What are the video specs listed on the General page?
In expert mode, there is a yellow line, but I always thought this line was for my audio levels. It's in the middle of the clip for both the audio levels and the video levels.
In the settings, it says 1920 by 1080, 30 frames per second.
As I said above, the yellow-orange line will be along the top of the timeline in Expert view, ABOVE the clips you've added.
Are you not seeing one? Can you post a screen capture of your timeline to this forum so we can see if it's there?