"Americans CAN'T AFFORD To Buy A Home Today!" - The Case For RENTING Vs BUYING | Jaspreet Singh

[@MinorityMindset]

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[@morkmckerr]

Great shout out to Ramit Sethi!!!!! You should interview him!!!!

[@selfReferencinDox]

I thought that home prices were in slight decline this year. I wanted to stay out of the housing market in 2021 and 2022 when sellers refused to let me see them.

[@nancylpr]

I’ve always told my clients your home is your home NOT your retirement. Licensed Realtor since 1995. You might be lucky and sell for a profit but the market not only goes up, it can go drastically down. There’s another saying- you make your money the day you buy. RESIST FOMO!

[@tomdrummy4984]

Americans can’t afford to buy a lot of things……..but they buy them anyway. 🥴

[@JON-hb1mv]

​@@Goat1229 Your ego is making you broke and that's sad for you, but it's making everyone else richer

[@zoraster3749]

Which is part of the reason things are so expensive. People keep bidding up the price of everything with debt.

[@Peanut-sam-tha-nut]

Just waiting on the repos and foreclosures. Operating off of bad debt will come crashing down.

[@JON-hb1mv]

@@Peanut-sam-tha-nut Yes sir! When there's a sale in Walmart or Best Buy people line up in droves wanting to take advantage of low prices. When this happens in the investing world, people start panicking... IT'S ON SALE! 2008-2010 was great for me. I've seen foreclosures rising and I'm just waiting for the best deal right now

[@WhispersoftheWoods]

I can't tell you how many times I've been told by friends I should buy a house because renting is a waste of money. 🤦 I just don't care for being in debt to bankers either.

[@williammathis6044]

If you can buy a home and afford it you should. In time you will always come out ahead. If you rent and lose your job you get evicted in 30 days AND your credit is destroyed for years before you can think about buying again. If you have a mortgage and lose your job it takes a year or more before you get foreclosed on AND the bank usually work with you (forbearance, change the loan terms, amounts, etc). Yes your credit is still wrecked but at least you have a roof over your head while you try and get back on your feet.

[@michaelrobinson300]

People don't understand the power of ownership

[@timstadlmueller58]

​@@michaelrobinson300 The hard part is having enough capital to lay some kind of foundational safety net :/ I'm pretty lucky to be well enough off to get a good start in life, and I feel for people who didn't get this lucky. Anyone talking down to people trying to make it from scraps in this economy is a world-class asshole. It's hard out there, be nice to each other and do your best to take advantage of opportunities you are presented with.

[@yeahgirl11]

​@@timstadlmueller58 God bless you.

[@Californification]

The 25% rule is good advice except it doesn’t hold true in places like California and New York. More like 40% here and that’s a fact.

[@Peanut-sam-tha-nut]

The 25% does not apply at all anymore. Those days have long passed. Seems no matter how hard someone works if they are not top 10% of earners they cannot live the same lifestyle of their parents. Old people(investors) are only getting greedier and the wealth gap between young/old will persist

[@eddieguerrerorules]

i remember about 8 years ago i brought a house for the first time but i had no choice my parents were retiring and leaving to another country to take care of their parents, my advice is no matter how big the price difference seems do it now buy the house now prices will go up, i refinanced my mortgage a few years ago during the pandemic and im now paying 2.6 percent on my house for 15 years, dont say you cant do it im a warehouse worker and i brought my house when i was 29 and i was stressed out but everything else goes up the mortgage at a fixed rate doesnt go up.

[@williamcarter1270]

You're inspiring Jaspreet! Keep it going bro

[@baoxidiaoyu]

In my city, the total cost of 4 bedroom home ownership now is less than my 2 bedroom apartment years ago. Having a king bed, backyard and private garage everyday is paying much higher dividends than my bond-heavy retirement investments have been the past 2 years.

[@edshuman3137]

Thanks so much for sharing your experience and knowledge with us

[@Lavir391]

I bought a house in 2016 payment of 1380 a month. With 3.00 interest rate I rent out the 2 bedroom basement for 1,100 a month. Wouldn’t that be considered a investment? The average rent in my city is 1,200 for a studio.I’m single with no kids o everyone’s situation is different.

[@MrMetaylo]

Boss move

[@JON-hb1mv]

Your mortgage is 1380 and you're only collecting 1100 from tenants so you have depreciation, upkeep, interest and taxes to pay out of pocket? That's not an investment you're just reducing your cost of living

[@MrMetaylo]

@@JON-hb1mv such a ridiculous statement….depreciation. Would you say the homeowner or renter will be well off in 5…10…15…20…25…30yrs?

[@Lavir391]

@@JON-hb1mv how is it deprecation when I paid 220k for it in 2016 and at the height of the housing market I could of got 500k for it. Obviously dropped in value with interest rates going up in a year but not crazy amounts. I live in Utah we’re the market always fairs above other cities.

[@Bootyeater999]

@@Lavir391 way better of than most man. But in terms of definition it it because it is paying you something so not bad at all. And you increase your disposable income so I see it was a win.

[@seleciaa]

The main concern with renting is the high increases year after year. I think home ownership is better for that reason.

[@EroticOnion23]

Your home tax bill, insurance, maintenance, grounds keeping, utilities, ALL increase year after year too. Not to mention the cost of selling is going up too and difficulty selling depending on the market; renting you can basically just up and leave any time if you're month to month...Yea you might say that all those are included in the rent anyway, but you're paying a lower monthly cost on the space you don't need in a house...

[@ronpagala7496]

@@EroticOnion23 renting sucks these days.

[@babygirlasmr699]

Just bc you qualify for a loan doesn’t mean you can afford. Listen up young ppl… he’s right. The banks are not your friends.

[@JON-hb1mv]

A bank is literally in the business of making money and they are all for doing predatory loans, so if they won't lend to you then you're really in a bad situation😂

[@babygirlasmr699]

@@JON-hb1mv so true!!

[@xmistaxcashxcoll]

Oh God please preach

[@Jho_Sephine]

Found this out the hard way back 2005. Ended up foreclosing in 2010 and spent the next 6 years rebuilding credit.

[@babygirlasmr699]

@@Jho_Sephine Huge learning opportunity though. I bought a massive house in 2009 and was house poor for years. I barely enjoyed the home. I downsized to a tiny house with a 3rd of the property taxes.. utilities are low and I will never look back. The large home drained all of my resources. I look around at all of the huge houses being built on my area and seriously wonder if ppl know what kind of prison I mean house they are building for themselves.

[@nimo4335]

Great explanation as usual!

[@JaiShriKrishna009]

Very helpful, thanks for breaking it down.

[@billb945]

I bought a home as investment in my future. I am retired, it is paid off, so I only have RE taxes and maintenance as "rent". There's quite a range in home prices. What too many 'Americans' can't afford is a large home, especially smaller starter homes. Most of the builders today focus on the high profit Macmansions and will tear down a small/starter home to build a large one in its place. Putting a premium on small homes making it tough on people starting out with home ownership and seniors in the market for something smaller.

[@jameshill9594]

Excellent Video. Can I add one more thing? Historically, your yearly salary determines the price range one can afford when purchasing a home. Usually around 3.5 to 4 times your annual salary. EXAMPLE: If you earn $50,000 a year. You're able to afford a home UP TO $200,000. From what I've been reading, 4 out of 5 Americans earn less than $80,000 annually. Historically speaking, your maximum home one can afford is $320,000. That's the main reason why "Americans CAN'T AFFORD to buy a home TODAY!" That $400K or $500K home price? I'll let you figure that out...

[@TheFirstRealChewy]

Mortgage lenders want you to believe that your private residence is a great asset. So instead of investing for retirement, they want you to invest in your home. You end up reaching retirement with a million dollar home and $100K in other assets.

[@xo7454]

This!!!

[@PlannerMemaw]

Most people can afford a house as cheap as mine but they "NEED" a bigger, better house that they can't afford. My home IS an investment for my future. It is now paid off and what that means to me is that I won't be paying rent or a mortgage when I retire but am still able to live independently.

[@Antares_451]

Congratulations on the payoff. I'm working of paying off mine as well but have to pay off my truck (2019 1794 4x4 very light used) I got in 2020. Yes, my home and truck are both investments. The truck I wouldn't be able to afford today and my mortgage is 720 per month and I don't pay any property taxes. Investing aggressively thou.

[@rogeliobarraza1772]

How cheap is your home

[@Antares_451]

@@rogeliobarraza1772 Currently valued @ 290k. Purchase in 2013 for 100k. 3br 2bth double car garage on half acre in the cul-de-sac. Cash-out (40k) refi @ 2.65% in November 2019. Updated all the major stuff on the house (New roof, windows, hvac, hoodvent, deck, shed) Purchase my truck summer 2020.

[@rogeliobarraza1772]

@@Antares_451 Man. You’re living the dream!

[@Antares_451]

@@rogeliobarraza1772 Took a while but getting there.. Paying off a few credit cards then hopefully pay truck off by yrs end. I wanna be in the paid off home club.

[@GJ-ux8dj]

Wow! You are amazing. Thank you so much for today's lesson. We were in the process to look for a home to buy, but after viewing this video.....we aren't even close or ready. We fixed our credit, saved our down payment but have no emergency funds or moving funds and jobs that might layoff. I cannot begin to thank you so much for keeping it real. Sometimes the truth hurts, but gaining knowledge is unmeasurable.

[@MrMetaylo]

Rent for the next 10 years and you will regret it.

[@devonm5037]

What blows my mind is buddy got his home re appraised to get rid of PMI, which was 50 bucks. And sky rocketed his taxes pre maturely.

[@JoOrtiz09]

A home is not one of the “worst” tools to build generational wealth. With the rate of rent skyrocketing, owning a home is one of the best things you can do for you and your family. Not sure who’s paying you to push renting over buying on people, jaspreet. Right now in FL, many retirees are seeing their rent go up by over 40%. They can’t afford it. At 80 years old, having to move out of state because you can’t afford your rent. It’s nuts.

[@MrMetaylo]

Seniors had their time and wealth building. What about the millennials?

[@Bootyeater999]

Yeah and many retirees are getting priced out with property taxes and cost of insurance🤷‍♂️?

[@areallycoolguy5004]

Who is paying him to push renting? His tenants! He’s a landlord lol

[@jonathanchaney6140]

I found you through the Dave Ramsey show and I am so happy that I did! You are very good at making confusing deep topics easy to understand

[@morkmckerr]

You should check out the guy Jaspreet mentions like 20 minutes into the video..Ramit Sethi

[@F2397-m4c]

People don’t know how to budget, that’s the real problem.

[@amenlion88]

It's a shame that they make it so difficult to buy a home especially if you have a family with children.

[@MrMetaylo]

Who is they?

[@amenlion88]

@@MrMetaylo the demonic people that want to control the world.

[@RafaelCastro-wg2tk]

So many homes locked at 2.5 interest rate make it difficult for sellers to sell their homes to go into a 6 or higher interest and this creates scarcity on the market, resulting in low inventory and high demand the rona rate cuts are gonna hurt us for the long run. this was a terrible move by the FED this is why we will never have a 2008 house market crash again.

[@mikemats2858]

I think nice RV is the best option right now I do not see a point paying $467k for a house pay taxes, insurance, maintenance makes no sense....

[@mooneyes2833]

Look in the past...mortgage rates have been over 10% in the past...and yet...people still bought homes...if u want a home, save up 40grand...buy within ur budget.. homes around me are 220 or 250...I'm 1 hour away from 2 major cities less than 3 hours from the shore....smh

[@RomrotMechanikos]

Even if I lose equity in my house, I can still get something out of it after selling it. The money you give away for rent is gone for good. The only valid argument for renting is mobility, but even that argument doesn't hold much water because landlords can stick you with a 2 year lease and at that point, you might as well buy a house, the mortgage will be cheaper than rent payments.

[@daoneishere2]

Until you need to replace a roof that cost $30k to replace and the AC go out a few month later that cost $10K. I will stay renting until I get enough money to buy a house cash.

[@berenice072298]

Same I cannot afford home renovations so renting a cheap place that takes care of all maintenance helps me greatly save money

[@StockLoser]

Some people split a 3 bedroom with friends. The amount they pay in rent could be as much as the property tax YOU give away by owning a house

[@michaelrobinson300]

Use cash everywhere. Stop using banks

[@MrMetaylo]

Inflation kills your argument

[@michaelrobinson300]

@@MrMetaylo no it doesn't. You use cash as a way to buy assets to make more cash. I'm litteraly doing it and making a shit ton. And guess what. Because I dont put it in the bank there literally no one to report what I make to anyone.

[@MrMetaylo]

​@@michaelrobinson300 No way you are navigating through life (cash only) without some sort of money laundering or tax evasion.

[@michaelrobinson300]

@@MrMetaylo yes you can. It's only hard in the beginning

[@chrysiarose]

Renting a one bed apartment in my city was more expensive than owning a one bed condo - even with HOA fees and other things it still works out less.

[@CESAR-io6ob]

Excellent video Jaspreed! Great stuff!

[@tylerkolota]

You missed one of the main contributors to the issue… A lack of new supply

[@janicetone1624]

Explain more about Corporate, Gov't, Personal Debts please.

[@dravenq6928]

Thank you 🙏🏼

[@rubiaragagon7722]

Forgot to factor in closing cost with the down payment

[@Moonscentedhunter]

I didn’t but my house as an investment or to make memories. I did it to stop paying rent. My rent was $500 more than my mortgage.

[@godzeus9702]

Don’t forget you are responsible for your own repairs out of your own pocket to make repairs. Plus food costs currently are pricey. If you are keeping up with the rest of your friends trying to show off. The price of vehicles is also high plus payments. Whether you are wealthy or not that’s still a good amount of money you are paying.

[@CaedenV]

I kinda hate how these stats are used. My home loan started at 30 years at 6.5%, but by the end it will be a 25 year loan at 3.5% which I will have actually paid. As I got more established I was able to secure shorter terms at lower interest rates. Once you get in a home, you typically aren't going to be forced into raising your rate or lengthening your term. It should only get cheaper. Also, while the national average income increases some 2%, that isn't true for the individual. As an individual your income should start low, and rise steadily through your 20s-40s, then plateau, and then stop in retirement. The average has a slow march forward, but individually it should rise significantly and then drop. This is also over the 70 year period that you have a "household" compared to the 30 years of purchasing a home. Even though the rate of income growth averages to be slower, it is of a much larger amount than your yearly payment, and for a much longer time. This more than makes up for the rise in home prices. What makes housing unaffordable isn't the increase in home prices... It is everything else. My parents were not required to have healthcare, and didn't cover everyone in the family when we did have it. Now it is required for everyone, and increases at a much higher rate than housing prices. My parents were not expected to have working cell phones and computers and network plans... We didn't even have long distance calling growing up lol. But now all of this is nearly required and costs $500+ per person per year to maintain. There are just a lot more required bills than previous generations. And that is what makes the relatively small increase in housing prices impossible. Because once you get a home you are locked in at the price, and it should only go down. But getting that down payment when so many required expenses are put on young adults... It is impossible to get the down payment sorted.

[@talzumon101]

Who tf has 10k as takehome per month 😅

[@JaiShriKrishna009]

Many had, but those days are over :(

[@Peanut-sam-tha-nut]

PPP fraud, tech workers, SBO's, Social media BSers,😮 and Traditional high paid professionals (doctors, corporate lawyers, and ceos).

[@richardmanikowski5947]

Truck drivers. Most of us.

[@TruckerLerone]

A lot of us. Just not you 🤷🏾‍♂️. Who you think is paying these high rents

[@richardmanikowski5947]

Rent is high for me too bro. I was just saying that Tuck drivers often make $10K a month, not me even. It was response to this comment. Rent is high for everyone bro. We all got them checks, now we have high inflation.

[@summerjoy247]

Yup this is why we decided to sell our home and rent temporarily until we can find a single family home. It’s an exhausting process

[@dumpsterfire6351]

Utilize an RV

[@TK-ek5kp]

Money is 'printed' when people and businesses take a loan. Banks do not have the money they lend to us. They 'print' it, hand it to us, and charge us interest. The Fed collateralizes the loan by buying the loans with bank reserves. Since this newly printed money can only be used to buy assets (like homes) it drives the price of those assets up. It's like Kohls cash can only be used at Kohls. Homes are a major injection point for new money, but it's important to realize that banks print money and the fed later collateralizes it.

[@loganerb3952]

Thank you for covering this topic and it hits home hard for a lot of people! Everyone everywhere is always saying “buy real estate it’s an amazing investment that never goes down in value”…. “If you rent you’re paying 100% interest”… “if you can afford to buy a house you need to right away” I’ve heard these sayings numerous times a day it feels like… sometimes it’s not a good time to buy a house. Sometimes like in my case it makes sense to spend 600 dollars less a month renting so you can max out your Roth IRA for a year or two and watch my wage increase while hosing prices come down too! Or like in my case I’m a recent college grad and would like some more time at my job before locking into this area. They’re numerous reasons why it DOES NOT make sense to buy a house for a lot of people… but no one ever wants to talk about it because you’re not building equity

[@rhondahopkins4366]

Houses are overrated. These days people are paying too much money for wood and a cement slab and vinyl siding

[@JohnDoe12515]

Mann! $467k average house! You guys are lucky. Canada was sold off to the highest bidder and houses are insanely expensive

[@HabitsForHappiness]

Thank you jaspreet

[@Randyy111]

I just wanna see your first rental. Which you supposedly got before you were wealthy. And I wanna know your process in the beginning for finding good tenants. Maybe you didn't find good tenants the first go? And when or if you think homes will be as affordable as your first rental.

[@Prophezora]

Not just buying a home but the maintenance that comes with it...I stepped in a home depot yesterday...yikes!!

[@DSNCB919]

I feel like when i bought my home in 2020 i was lucky.... now just trying to upgrade since i have a wife and more kids now... but even with over 100k in equity its still a shock since rates doubled

[@BushcraftQuebec]

I did the impossible this year . I'm in dept to make money . On he edge of default until I start operating

[@TK-ek5kp]

Your primary residence should not be considered an investment.

[@MrMetaylo]

Save money and stop buying overpriced goods Americans!

[@josephmccarthy1801]

Mortgage is cheaper than rent where I live first last and security deposit could cover a good chunk of down payment

[@Lobogomez95]

I am currently building my house and so far it has been the best investment I have ever done. I've spent 60,000 in buying the land, and building the foundation walls and roof. I am still pending to invest on it 20k to finish it off. At the end I will have invested 80k for a home that will be valuated at 180k. So far I have spent 3 years building it and there has been times where i want to go rent but I never do. Why is no one talking about building instead of renting or building? In the long run you are better off staying with your parents and save up then get a mortgage.

[@pennyleonard3496]

TY FOR THE VIDEO 😊

[@harshsinghdeeplearning696]

Bahut bahut dhanvaad veerji thode efforts lyi 🙏🙏

[@e.t.theextraterristrial837]

Where I live, mortgages are 60 to 70% cheaper than rent prices and are FIXED while rent prices keep jumping 20% every year.

[@cbrcoder]

"Can't afford to buy a home today" - will be changed to "Can't afford to rent a home" in due course of time due to upcoming hyper inflation. Answer is to buy home; but buy from maximum cash available (least amount of mortgage).

[@Chu6um]

I recall a previous upload of yours, explaining how buying a house can be an investment. That involved the multi-family homes, where you can live in one unit, while renting out the other units. Get the tax breaks for the few years as a 'primary home', while the rest gets the depreciation write-offs. Rinse and repeat as one move into expanding one's real estate investments. There are still some market areas where it's still leaning toward a buyers market. Those fleeing from those 'progressive' cities, looking to get out of the growing 'unrest', are seeking those areas in the outer areas of the cities they're fleeing or still able to do remote-work. Even with the increase in rates, those fleeing the more expensive city real estate markets are still able to find buyers for their homes, but the market of available properties in the areas they're looking to put their sold funds into are not enough to meet the demands in key areas. There's even some market areas where a property hitting the market is pulling bidding wars.

[@baoxidiaoyu]

Yes, my wife does get upset with eating out costs and especially tipping

[@Bootyeater999]

Order to go are stop eating out. 😂

[@croswellianprincess3590]

This is nothing new. This has been happening all of my adult life. Adulting in the mid 70’s.

[@juschilln4904]

If you have kids then purchasing a home is absolutely an investment, you dont want to be at the mercy of a landlord who can force you to uproot everyone in your family's lives in 90 days or less

[@duckontherun932]

Actually if you have kids in most places a landlord is at your mercy. An eviction of a family with kids is so expensive and difficult. You can ask for a large "moving assistance fee" from them, they would pay you with tears of joy.

[@SaintlySaavy]

That would only happen if you don’t pay your rent. The bank and state could do the same if you don’t pay the house.

[@Heretoslayyy]

Definetly but even Just period kids or not, your lifestyle can’t be at the mercy of someone else .. AGREEEEEEEDDDDDD!!!!!!!

[@duckontherun932]

@@SaintlySaavy Yeah true, just saying as far as the Tenant, Bank and Gov, the landlord actually have the least power and leverage.

[@skinnypete3104]

@@SaintlySaavy nope. In my state landlord has every right not to resign your lease regardless if it’s a house or apartment and even if you were the perfect tenant. So in these states with kids it’s best to own

[@philmarsh7723]

Owning a home is NOT always a good fit. Regardless of one's income or savings. For instance, if you move frequently, I think it's not a good idea to own. Rather, invest in stocks. I suspect that the reason housing works to help people's finances is primarily because the mortgage is a forced savings program. Better to save voluntarily and invest if you can muster the self-discipline. Jaspreet also discusses the reason that growing house prices are harmful to me, an owner. I DO NOT benefit from my house's value increasing but rather the higher insurance rates just increase my costs and harm my overall cash flow. I own without a mortgage and I'm not ever planning to use the equity in my home.

[@jasbirdhanoa4315]

I need more information about usd home loan

[@armandoweckmann5699]

I need to get married for that dual income! $6k a month, net pay just isn't enough 😒

[@KC-lg8qf]

definitely never getting married either. Good luck with that "investment" when you have to split it in the divorce.

[@brianadams6204]

@@KC-lg8qf I Have been married 15yrs and together for 18yrs never had any problems and our combined income is just over $150k and goes up slightly every year dual income makes life a lot more affordable.

[@Chinunit22]

He didn't mention mortgage insurance

[@triox64]

And then there’s land exchangers and landlords seeking more money havens.

[@mattskord9178]

Should be legislation for a maximum number of owned rental properties

[@Rollpepper]

Large corporations should not be allowed to own single residence homes

[@TheRealKimJong-Il]

Then they would just make multiple corps to keep buying

[@Rollpepper]

@@markholtdorf56 yeah there legitimately should. at the current rate we are creating too many losers. A society cannot stay healthy and stable when home ownership becomes impossible for most. We want young people to be able to start families and form community, but if BlackRock is allowed to form a monopoly on the housing market they will become massively wealthy at the expense of the society.

[@jaybarr8098]

The banks lend money not friendship. By below your means and your house is an investment.

[@xo7454]

My rent is 5% of my take home pay. I've been a homeowner... 3 real estates, including an acreage. I'm choosing to rent as a lifestyle decision. Freedom and no responsibility.

[@TheLizardKing1967]

Mortgage rates and real estate deals are about to change big time as loan level price adjustments ( LLPA ). llpa changes take affect May 1st and will affect the mortgage fees you pay based on your FICO score and your down payment. This will drasticly change the housing market as higher risk borrowers will be able to pay less for a new home.

[@noneyabeeysnass8283]

Will it change for better or worse?

[@rnt45t1]

I bought a house last year. Cash deal. Fixing it up, going great!

[@darmou]

So I got my house for 150k at 2.73 % interest for 15 year loan, pretty happy with my purchase.😊

[@victorbaird8220]

😂

[@PrehistoricMagazine]

Thanks Robert kiyosaki

[@TheRealKimJong-Il]

No

[@jeran881]

All these factors just point out to me, only the rich can afford a middle class lifestyle. The rest of us should look for trailor parks if that.

[@brianadams6204]

Or you could budget better and increase your income.

[@jeran881]

@@brianadams6204Agree, one could eat ramen every day and catch a break with a better job or more than one job. And prices could still go up, still kicking you out of the market. The variables in the future are many, what we have now is what we have now. What we have now does not look good for most people.

[@briancollado9708]

Hey Jaspreet! I’m just stopping by to say thank you for sharing your knowledge of financial education with us. I have been following you for over a year and thanks to you I have been doing much better financially. Keep hustling for the extra guac!!🥑🙏💪🏼

[@HEC892]

So if I only put 3.5% down on a 300k home that’s about 11000 + closing another 10-15k , move in money furniture etc roughly another 10k , 6 months emergency savings 30k if you monthly bills are 5k a month. I would personally need 66k saved 😢😢😢

[@jeffreyschnedar8020]

Yeah that how it works. I bought my home in 2019 and had 40K saved thinking I would be putting 20% down to avoid PMI. After closing costs, inspection costs, etc I only put 5% down i could have put 10% but it made no impact on interest rate at the time and not enough for PMI. Buying a house has alot of upfront costs that people do not plan on until they are really far along into the process. Best save up more than you think you need or downsize your starter home.

[@dumpsterfire6351]

Buying a home IS 100% been an investment for us Blowing rent money out my ass will NEVER come back to me Maybe not a Cashflowing “investment” but always buy when you can.

[@Aventerra01]

I mean, if there’s no one having kids, it certainly because of this too.

[@Gwillis7]

Went with the fuzzy background today 🤔

[@millionairemccoy218]

What happen to the days where you could plant a flag and claim that land 😅

[@jayc4715]

Your home IS an investment ..especially if you buy it at a good price.. you can house hack it..or live in flip it every few years

[@calebkang5544]

home is better than investment!! buy a home when you can afford it.

[@getinthespace7715]

I'm not buying a house.. I'm building one. Thanks to my dad for showing me the ropes.

[@jbarkley4938653]

I don’t why people look at a home as an investment. It’s not an investment when it’s taking thousands of dollars out of your wallet every year. Taxes and insurance continue to rise without no ending insight.Maintenance costs are high. Who wants to be house poor?

[@Dell7788]

People only look at gains not losses. Like lottery and casino. If you buy a 500k house , you will pay almost double with interest. After 30 year mortgage you will pay 800k or more. Can you 15% in investment make you 300k or more to offset that? If not. Paying extra payments and pay that house off then invest. No financial person will tell you to pay a home off. Instead sell you a dream of spending money to hit the lottery

[@michaelrobinson300]

Whatever it cost to own it cost more to rent.

[@babygirlasmr699]

Absolutely… where are people supposed to go?

[@babygirlasmr699]

Some ppl will hv their kids with them forever with the housing and rental market the way it is.

[@michaelrobinson300]

@@babygirlasmr699 that's not a bad thing

[@babygirlasmr699]

@@michaelrobinson300 yes, for some… I’m 46 but mom doesn’t want me back😂

[@JON-hb1mv]

Renters don't pay hundreds of thousands worth in interest, taxes, maintenance

[@jayc4715]

If rent is more expensive than your home IS an investment..if your home doubled in value the last 2-3 years. It IS an investment

[@dianabraley8307]

So then we should just give up - correct? And then we become serfs for our entire lives and people like you can buy homes while you tell the rest of us not to buy?

[@seleciaa]

I definitely can't afford a home, then. Continuing to stay with my parents and pay off my debts 😂

[@patricksheridan3994]

I'm currently selling my 3 family for I bought in 2015. Im going to cash out and wait for when there's blood in the streets

[@RonKraftwerk]

Meanwhile this guy is building generational wealth talking to people making $40k a year and barely paying rent. The hustle is real. Just like the banks aren’t our friend, this goes for “finance gurus” on KZbin. Here’s one for you future billionaires. The worlds richest man is a guy who sells luxury items around the world. Bernard Arnault had become the worlds richest man selling poor people luxury goods. Rich people stay rich spending money on a small level, whereas poor people spend their last dollar o items that makes them feel and look rich. Here’s another one for you. Everyday I hear how the economy is taking a hit and how companies are going out of business and laying people off. I never hear anything about insurance companies having issues. Your thoughts?

[@swaep114]

Americans Trading Stocks for that Down'payment Funds.. AI stocks Top Gaining Sector in 2023.. * BBAI... Big Bear AI...* MRAI .. Marpai.... * BFRG... Bullfrog AI... investors Already Surged Prices of * GFAI... ... * AI.... and * CXAI in March / April.. Thumbs Up Video / Thanks.

[@Tapha_Bezos]

My home is not an investment. I KNOW THAT!!!! I still want my home 🏡. A Home means a lot more than an investment.

[@Threatlevelparty]

Who in the hell has 42 to 46k to put on a down payment! Also if you do send me a link to apply for that job 🤓😅

[@DanielMartinez-hc1nw]

401k let's you pull for home down payment.

[@em1ownerify]

Could I afford it? Sure maybe. Should I? Absolutely not. Fk giving the bank more money for lending me some

[@jameshunt4611]

Shout out to Ramit Sethi

[@saleryplnger5443]

The failure of SVB and everything happening has left the markets in shreds. I'm at a crossroads right now, deciding if to liquidate 200k portfolio down by 10%, and it's uneasy for me to not panic after my recent awful divorce. I just need investing ideas to afford my retirement

[@jeffreyalo152]

sorry for your divorce, there are actually ideas that could be put in place for solid gains during a crash, but such strategies are carried out by distinguished advisors

[@charlesadriel8610]

True, people downplay the role of advisors until being burnt by their emotions, I remember couple years back during covid lockdown, I needed a good boost to help my business stay afloat, thus researched for license advisors, That was the game changer, helped grow my reserve to nearly $1.5m after subsequent investments to date

[@dakolemoned3684]

@@charlesadriel8610 sometimes we fail to realize how resourceful an extra income can be until crisis.. at this point i'm looking for assistance with where to put my money during this financial recession, mind if i look up your advisor pls

[@charlesadriel8610]

@@dakolemoned3684 Her name is ‘’Amanda fuller kolbach’’ she’s well grounded with 22 years experienced in the financial market, and extensive knowledge of portfolio diversity. I recommend researching her credentials further on the internet

[@dakolemoned3684]

@@charlesadriel8610 great share, just copied and pasted her full name on my browser, thankfully her site appeared top search! she seems first-rate, her creds speak for itself

[@Yusuf_Esmer721]

I’d rather buy RlT25x, atom, polka and polygon!

[@blazeboyblazeboy4470]

That's why most women find a nerd and do fun time wirh him then take his house.