How To Get Cheap Housing When Real Estate Is Unaffordable

[@steadywatching2888]

I'm loving these everyday videos, even if you talk about different things, I think we are all here for the commentary. Hope this continues!

[@joemurchie]

I'm really enjoying the singing!

[@poisonousnut]

bought my house in 2016. worth nearly triple today. probably the only smart investment i’ve ever made. 3.75%.

[@fillg]

My advice for young people just getting started is don't expect to immediately get a house like your parents have, and when you do get a house, don't spend everything the bank says you can afford, do what you think you can afford without stretching yourself too tight. The bank will hose you every chance they get. I don't know how or where to find cheap houses but they're available and there are people who can tell you how to find them. There's a channel on youtube called Homemade Home that's all about fixing up cheap houses and I think he's got a book about how to find them.

[@Handledgovernment]

At this point even my parents generation can’t afford houses sadly

[@mrussell8054]

I rented a shop with utilities. Lived in a tent in the back of it for two years while I started my own business in the shop. Came out of there with a pretty good nest egg.

[@esme8casta]

What kind of business was it?

[@jenniesgarage]

That's what I'm talking about.

[@mrussell8054]

@@esme8casta Auto Repair

[@seth9871]

I moved from Norcal and I lived the past 5 years renting a 5th Wheel at an RV park south of Wilcox 10 minutes from Douglas AZ for $500 a month. Then I bought 40 acres nearby with a well, septic and 2005 mobile home in good shape for $40,000. So much more cheaper than Norcall. I work online so I can live anywhere

[@jenniesgarage]

Thats the way to do it. Maybe build a house on the land eventually and get some major equity.

[@michaelhathcock7941]

I popped trunk and let my 5th wheel hang

[@schwuzi]

Holy crap I'm watching from Europe and that deal is crazy. So much land for that price is really good. There are places where that's possible here, though the problem is you're in a completely different country where you have to learn a whole new language.

[@joemurchie]

Love this advice! I think mobility is the most important thing for being able to live cheaply. I can't do the trailer thing but all over the midwest are cities with low housing costs. If you want a cheap house move to Indy, Detroit, or Cincy... all over you can find livable, functional houses in safe areas for $100k.

[@jenniesgarage]

Thanks for the comment. We've never traveled to those areas. Good information.

[@fierceflyer5]

I’ve lived my life by the “law” that you get what you think about. If you think you can’t then you won’t. If you think you can, then no one else can stop you and you will. I’ve also stopped listening or watching any “news” it is ALL propaganda. Also I have never paid interest on a credit card, if I can’t afford to buy something I don’t, kind of living a “cash in the pocket” life. I live my life trying to never judge anyone else, being kind to everyone, and not caring what other’s think or say about me. I know what I am and who I am.

[@95TurboSol]

Those are great suggestions. For those REALLY poor, like just out of high school or collage you might consider renting someones bedroom/ basement/loft, utilities are always included and rent is cheaper than pretty much anywhere, plus you can often rent in nicer areas of town that are lower in crime than apartments. Stay there a few years and save all your money for a down payment to buy a home when interest rates drop in the next couple of years (the Feds rate cutting cycle has already started).

[@jonoj7666]

I've been watching your videos for years, your a smart bloke. You have practical smarts, and skills. back yourself 👍 thank you for sharing your experience with us strangers on a screen 😅👍 God bless you and your family 🙏😇👍

[@dfgyuhdd]

Pretty simple: commute really far. Buy a house in a depressed market area and drive to a strong job market area.

[@mustangrt8866]

yeah, there are warzones but they'll turn around and become expensive areas, buy one or more houses and wait

[@plumpii7177]

That doesn't work in the uk, high fuel costs, high tax, high vehicle running costs and now the threat of pay per mile road tax and insurance.. people commute, but its rare they go far..

[@benl4707]

​@@plumpii7177what is this pay per mile tax

[@lithostheory]

commuting kills the soul

[@jonnenne]

My time is too precious to me to sit in a car. But then again, I don't live in US so I don't even need a car to begin with.

[@jjhopscotch7646]

Great video!!!! I love to hear your thoughts and ideas.

[@crichard]

I can only speak to my experience, but we’ve looked at a lot of houses recently. There are many that were purchased within the last year and are now for sale for double what they were just bought for. Sometimes they’ve had some painting done, maybe some vinyl flooring, and maybe a new water heater. Sometimes literally nothing has been done. Just lots of greedy people out there.

[@jenniesgarage]

It is rough. I have seen the same. But I have mixed feelings about the notion of the sellers being greedy. It seems absurd to see that kind of increase in price, but I can't blame them for trying to sell for what the market will bear. Unless it is just a wham bam poor quality flip. Then they are scoundrels.

[@JB-iw7sx]

Lafayette Louisiana. Go work offshore in the oil field, on the rigs. Great way to get ahead.

[@prdoohan]

I absolutely appreciate the nuts and bolts explanation of expectations and sacrificing now, to build a financial foundation for later. The people that make me shake my head are those who want the flash lifestyle, with fancy cars on finance. But they are not willing to make the sacrifices for future financial freedom. I don't live in the USA. But I'm 35, have kids, we are a single income household and will be mortgage free in 2 weeks. I don't finance anything apart from the mortgage, which we have paid off in ten years. Stay out of debt, learn how to fix stuff and build a skill set.

[@jenniesgarage]

Being debt free is such a great freedom. It is a shame so many people are taught and tempted into financing things. Congratulations on paying off the house!!

[@prdoohan]

@@jenniesgarage Absolutely, debt free is awesome! Time to go cash buy an adventure bike! Tenere700 here I come!

[@UnCivilEngineerIRL]

​@prdoohan hmmmm, I seem to recognise you from another channel, congrats on getting free from the clutches of the banks 🫡

[@leodanryan966]

I live in Texas. I own my home. I only ever bought one house and I paid it off 5 years early. I'm not interested in moving and I raised a family here. I'm happy.

[@jenniesgarage]

You're in a good spot.

[@dunemaster3179]

I think another idea for cheap housing would be trying to buy a piece of land somewhere with electrical and water hookup and placing a nice RV there and building your own house or maybe buying a land possibly with foundation and placing a manufactured home there. I've seen pre made houses sold on Amazon! I don't own a house, so take these ideas with a grain of salt, but those are some of the ideas I had about my future housing.

[@jenniesgarage]

That is a great idea! I almost mentioned it in the video, but the only reason I didn't was that I wanted to focus on the cheapest options for someone just getting started. Land with hookups would be the next step after saving money for a couple years. Maybe have a long term plan to build a house there, and in the meantime, park the trailer there, build a nice deck around it and have your own rent-free paradise.

[@fratermus5502]

I live in a campervan. Doing so helped me pay off all my debt, load up pre-tax retirement accounts, and retire early. No regrets.

[@peterhallbus1114]

I got my first house like one hours commute from any major city, but it was in a small community close to a lake and a nice forest, the house was cheap coz it was in a small community and the inside was not painted for 30 years but had a solid exterior, so I stayed there for 3 years and did some renovations myself for very little money and sold if for 20% more then I got if for, the now extra money was a downpayment for a house 4 times the price. But I agree that you need to make a small nestegg somehow and a longer commute might be an option to a trailer home.

[@youtubeisfullofspam7068]

I 100% agree. Live cheap as possible & pay cash for what you want or lay down big down-payments on stuff you want to buy

[@FreightHustler_]

I’m also in CA we moved from sac 4 years ago to buy a house in our price range house is now worth about 150,000 more hopefully it keeps climbing to get the house we really want. Interest is under 4% we commute to work is the only drawback and the fuel cost 🤦‍♂️ but the area is cozy. I had a 5 day work week now it’s 4 so that helps wife works 3 days. Commute is now 40 minutes was 20 but with traffic going home was an hour plus stop and go.

[@jenniesgarage]

You bought at a great time. Close to all time low rates, and reasonable prices. I'd never have guessed prices would skyrocket like they did from that point. I am in a similar situation with regard to being far away from things. It is a drag, epecially when we have to go to t9wn multipletimes per day,, but we enjoy the peace and open space.

[@geoffreyjones2000]

I lived in group homes until I purchased my house, an antique fixer upper

[@halftrack4199]

Thanks for the video. I appreciate the good advice.

[@PanteraDeNoche]

Some of the people that work in the industry I work in do this with campers. Powerlines are built all over the country and they just tramp around doing it for a few years.

[@brantmcfarland517]

Good advice good job thanks for sharing and I thought it was going to be about chickens tonight?

[@arenotdiy]

Hint: the last frontier. Just get used to the. Cold, and become invested in a good career

[@voodoodrug]

I bought half the house I could afford in a quite blue collar neighborhood, got my family and two intravert ladies roomates plus wife..that pay all the bills even food and they do the laundry. Built a shed for my two gorgious bikes… Don’t care what people think

[@myweigh7089]

I am 40 never owned a house been living in a family members house for 10 years i almost got about 4000 saved i just spent 2 fixing my truck. So i got 4000 right now but im trying to get 10 k cash to buy a house. That is about what u need is 10k cash. For a 100,000 dollar home

[@jenniesgarage]

It is great that you are saving money. Hopefully by the time you save the 10000 prices will be more reasonable.

[@Deckie1969]

Hello! Housing prices are out of control here in Washington state.

[@MainelyMoto207]

After watching your videos and having a better understanding of your lifestyle, I can't understand why you keep returning/staying in California.

[@SuicidalRiot]

I wish I had this kinda team relationship with the woman I adore brother.

[@bandiras2]

I bought my apartment before the inflation. My loan contract is with fixed rate, and time. Right now I inflating my loan. It is doable, but need some luck.

[@ktmcc4360]

Its compromise. My kid is 26 still working on his paramedic degree, does seasonal jobs that come with housing, sometimes even food is covered. He just found a room in a house with some people he knows and works with. Its in the town he is currently working in, saving him time gas and wear and tear on his vehicle. No its not his own place, its communal living, you need to be able to deal with room mate crap but its all small stuff. The deal is he is living in a beach town in a nice house close to work. He can save his cash and bank up to eventually resettle with a fire dept in the north west. He will have options because he built capitol. He could buy in a better mkt after rates drop. Or he will have enough to rent a house and add roommates to get him back to building capitol, then he can buy and build equity. Its about the best way to go if your single.

[@jenniesgarage]

I think he has the right mindset. Live cheap and build the cash up so when opportunity comes he's ready.

[@cody5495]

If you can't afford to buy a house maybe consider getting into the trades. I have six open positions for electrical apprentice with no applicants all year. Our journeyman electricians currently make $53/hr witg guaranteed 40 hours per week, profit share bonus, 401K match, and overtime and prevailing wage starting at 70/hr during summer. Yet we can't find any young people wanting to get into the trades.

[@dunemaster3179]

Thank you Jake!

[@Ebacherville]

thats how us Gen Xers did it , first home was a mobile home in a park, then bought the cheapest land we could buy with a 100+ year old pile of crap on it, Live d in it for years just getting by , then tore it down and replaced it with a new home, were now 25 years into that home and were in remodel and replace phase.. appliances generally last that long now they are in need of replacement and while were at updating... tastes change.. We made decisions on if the roof goes its replaced with metal, so we will never need to replace it again, yeah it costs more but we literally will be dead when it needs to be replaced unless some magic medical breakthrough occurs. Live within your means with a long term outlook.

[@chrisprobert6]

A long time ago. In a galaxy far away.... We had "payday loans" . At over 1000% annual percentage rate. !! I still get a small tremor from those days....🥴

[@richbowie76]

We need a chicken video !

[@rogerthat.9105]

Chicken videos for a bunch of turkeys 😂

[@coconutcreampie3795]

@@rogerthat.9105 😂😂😂😂

[@bolambert6457]

That's good advice....your rite... location is everything

[@twocvbloke]

Housing is a mess over here too in the UK, house prices in a lot of areas are past the rate of being over 10 times the average income, unless it's in a really run-down area that nobody wants to live (except those of us who have no choice, of course), and the income versus expenditure has gone from being like a crack in the pavement to a vast chasm, the world's in a big mess thanks to money, and it's only going to get worse unless we start to reject the concept of money, but that won't happen in our lifetimes...

[@markfrase6]

I like mobile home idea but I'd do truck with camper so I could drive into town for work and get dirt bikes around lol

[@patrickpaez3354]

Deming NM is my home town, thanks for the shout out🎉

[@jenniesgarage]

Sure thing! We liked the museum.

[@hunterkeel7068]

Vote for the right person!!!

[@Tall_blue_grass]

Speak truth!!!🙌

[@pd8559]

Interest rates for 30 year home loans in 1981 was at 16.63%. Interest rates for 30 year home loans in 1990 was at 10.56% Interest rates today are making buying a home unattainable?

[@wobblysauce]

But the Home repayment as a % of the wage.

[@prdoohan]

What's important is the ratio of loan to income. Interest rates were 22% in the 80's where I live. Lots of people went bankrupt. Home loans were approx 4x a person's annual income back then. Where I live now, a combined family income might be $80-160k. The interest rates are coming down from 8% but the cost of an average home is around $750k-$1m.

[@pd8559]

@@wobblysauce I understand what you are saying but in 1981, a typical home loan payment could take up to 55% of a median household income, making homeownership significantly less affordable compared to today's standards; this means a large portion of a person's income would be dedicated to their mortgage payment. Having lived through that time, my parents could only afford a treat once a month and take us out for pizza to eat at the local pizza restaurant. Everything was home made food, brown bag lunches and no money for school trips for us kids. Today's new home buyer, as a small sample of those I work with have extremely expensive trucks and motorcycles on the largest loan repayment rates I have seen, and they have the latest phones as soon as they get released and spend a large percentage of their income on these toys. We have 30 minute breaks for lunch and they order door dash and other services like uber to go buy them fast food and deliver it to work at $35 or more for their meals. There is a spending and saving disconnect in a lot of today's new home buyer demographic.

[@jenniesgarage]

What matters to buyers is the total payment as a percentage of income. I agree interest rates are low compared to the past, but prices are so high, many borrowers would need near 0% to make it affordable. So the increase of rates from 3% to 7% does make tip homes into the realm of unattainable for some. Many people also only want to, or can only put 1-5% down. With so much money financed, every change in rates has a big effect.

[@jenniesgarage]

I do agree that people waste a lot of their money on flashy things and maybe some people who claim they can't afford a home actually could if they tightened up their spending.

[@harnesshouse]

So that's a little creepy. I live in Tennessee and just sold a somewhat dilapidated home that my mom used to live in.

[@tylerhunt891]

Way to go on the daily uploads! Is it cathartic posting these videos?

[@bayhunter6]

Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow♻️

[@AudricEnriquez]

Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.

[@thesearethefables]

​@@AudricEnriquezexactly that's why I always seek Mr J Clark's guidance in all I do 😊

[@korkyket]

I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?

[@RobsonSilva-cs2he]

Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.

[@thefirm25]

From $37K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

[@lbertlopez83]

lol I’m staying in Deming Nm now, your right about the wind 😂

[@carfxr123]

you could also buy dirt cheap iraqi dinar or ripples xrp , both are about to explode in my opinion, thats where my $ is, soon ill buy properties.

[@volvogt21]

Not from the us but don't they give them away in Milwaukee and other places? Will the new government fix this?

[@TheDude111]

Has anyone said you kind of look like Jeff Emig?

[@jordanmarturano3033]

It's not impossible to prove they literally say you will own nothing and be happy

[@yota87truck]

Take a step forward every day, week or month.

[@markosaarela3537]

This is quite scary. I mean i live in 15000 miles away from you, but the very same principals still apply. Im at youre age and im about to sell my house and move to RV/camper. No more water, electricity, mortage and taxes bills. The cost of living is crazy. Specially food prize has increased 30-40% since russia attacked to ukraine. It was just an excuse for companies to double the prizes. Electricity costs 16c/kwh 😢 I can buy few ecres land forest and live there. I can work remotely, so as long as i have mobile data working im good. In few years i will own my own land and after that i can retire or work 3 days a week.

[@jenniesgarage]

@markosaarela3537 it is interesting that the same financial dynamics are happening all over the world. Similar to what you describe, food prices are up, and the portions smaller. I think you will enjoy the RV life. We do!

[@connorwaits6575]

I was the 38th person to like this video, 10 minutes after it posted :)

[@brantmcfarland517]

I was #1. Lol

[@454Burban]

I truly appreciate you guys taking the time to offer these suggestions, and God bless you for trying to be helpful. However, I don't find them realistic, not for everyone anyway. Unfortunately, all these tips presuppose that a person has excess funds. Nothing you suggested could be accomplished for less than 10 G's. Far too many of us simply don't enjoy that luxury, and are therefore trapped in a location or situation they don't want to be in. Myself, I work for a living, and have a VERY meager lifestyle. I've never been able to own a home. I would love to have a modest property where I could have a workshop and a garden, but that's impossible here in Commiefornia. People say, "So why don't you LEAVE Commiefornistan?" Would if I could! But, duh, moving costs money. Forget about finding and purchasing property somewhere else, just the cost of GAS to get somewhere else makes relocation impossible. If I bought a $5,000 RV, I'd then be Broke, and couldn't afford to put gas in it. So as much as I hate my living situation, there just isn't a "low cost" way out of it.

[@e.avegarage]

Shout out NM!

[@Iseekoutthetruth]

I Bought My House On 1 Acre Off A Government Auction 15 Years Ago, It Was A Fixer Upper.

[@Tall_blue_grass]

Just look at the House's camera girl you know what's up...

[@alchik1]

Are you really Christopher Walken’s son?

[@JDeWittDIY]

You must be in the Northern and not the Southern part of California because you've got your head on straight. 👍 hahaha

[@bigfoot-id8bv]

No. 1 get the hell out of California!

[@localsonly-ju6fc]

Tents are only 20 bucks woohoo

[@Francois_Dupont]

funny THEY made it illegal to live in a tent.

[@timflemming4christ]

Nice thumbnail😮

[@phillippearce9680]

👍

[@kr8219]

Tell me you're from California without telling me you're from California. 🤔

[@James-sir]

The materials to fix a house is double the price

[@jenniesgarage]

I disagree. If you do the work yourself you can fix up a place really reasonable. Where we live anyway.

[@nyetloki]

But the system is against us

[@thebikegeekandmore2448]

My I ask you how many viewer you have outside US and above from non English speaking countries?

[@Mattswe6]

🥰👍👍👍

[@MemeRider]

The Gospel Jesus Christ loves you and died, rose from the dead, and ascended to heaven to pay for your sin! Repent and turn to Him and you will walk in light and be saved. Read the book of John and Luke to see God's love for you!

[@carfxr123]

a housing crash is starting now!! have a little down and know what you want and be ready because your about to get a 50% to 70% discount just by waiting a few months.

[@jenniesgarage]

If it happens that would be nice for a lot of people. We'll see.

[@tommygreist9560]

I did something different at self checkout,I used the scan gun,scanned quick then toss all into bag. The lady's look😮

[@ShaneVonD71]

This Channel Is Going Downhill Fast.

[@bigfoot-id8bv]

I really love these guys, not sure what they’re doing with this format, I miss projects.

[@joemurchie]

Strongly disagree... this has been my favorite channel for years now. This format is great in my opinion. They are sharing projects and small glimpses into their lives.

[@jenniesgarage]

Sorry you aren't liking it

[@patarmstrong3582]

One opinion out of thousands... I appreciate you guys! Thanks for making more videos!

[@slvrktman7824]

House prices tend to parallel good job availability. A remote employment job, would be a path to “cheap housing”. Being mechanically inclined, would be helpful owning/maintaining a “cheap vehicle” to commute to a job, out of “normal” commuting range, where lower priced houses are located.

[@jenniesgarage]

I have always been an advocate of driving a cheap, paid for car. I think historically what you say is true about the correlation of wages and house prices. I've heard the theory that the increase in remote work may be increasing home prices in areas where the local wages are low. But that may also mean that house prices could eventually come down in high priced markets because of the exodus of remote workers. That's something I just thought of right now though so who knows. Thanks for the comment!

[@SnowyPe]

Ill live anywhere, without dogs 🚫🦮