Real Talk About the Housing Market

[@iseepandas1]

When you finally make six figures, but can only afford a home in states you don’t want to live in..

[@stevegolacks8731]

When the states that most people do want to live in , are also the lower cost states now....AKA the South. Total reversal from 100 years ago when the South was being fled for the north for the jobs, and now the states rapidly declining are the northern states. Michigan, Illinois, New York, Pennsylvania slowly dying.

[@aj_mcnamara]

You don't have to move states. Moving outside the big cities in any state will be drastically cheaper.

[@commonsense-og1gz]

buy one and rent it out.

[@wufflerdance9481]

​@@commonsense-og1gzdont so that...rwnter will likely destroy it..yoy shouldnt buy a rental unless yoy can pay for it fully up front anyway. . and if people could afford a home thwy wouldnt be buying it for someone else to rent while they rent..thats stupid

[@user-ey4ut9uc8w]

@@aj_mcnamaradepends though. If you’re not living near the coast in California, what’s the point? Might as well leave and escape the terrible politics at that point.

[@ricksanchezsflask8794]

Think it's hard getting a house as a couple? Try it as a single person.

[@KiLLED5639]

I've resorted to getting a condo - which is also needlessly expensive

[@random-nz7dy]

​@@KiLLED5639 however in plenty of markets even condos now are costing nearly as much as single-family homes unless you want to move into a dump. So that's not even really a viable option anymore because even those prices have skyrocketed. It used to be there was a significant goal but even that's gone

[@montymython754]

Well, you could get married

[@q6_zilla]

@@random-nz7dy yup, 2bed 2bath townhouses near me are 400k. As a single guy that makes decent money there's no way without a dual income.

[@eddie3500]

Its possible i just did it , only 25 mins out of the city of buffalo ny not in the middle of nowhere, not a complete dump, 2 bed room im single and 29

[@danwiffle]

You guys are way out of touch with today’s market. I am very thankful that we bought in 2021 with a 3.25% rate, but now our 7 year house is the only thing we could possibly afford. And my taxes keep going up, my insurance keeps going up, so my mortgage is getting higher each year.

[@Dividendsmattertoo]

I would wana buy a house in few years I’m going for the house with the lowest property taxes

[@autumnjerene]

You're right. A lady who sold all her furniture, slept on an air mattress, worked multiple jobs, and lived with roommates while being married all to get out of debt and achieve her dreams IS WAY out of touch with current society. People today are too entitled to sacrifice like Jade did to reach financial peace. They'd rather whine and blame the government or the wealthy or older generations for the things they want but don't have.

[@karimbennett5651]

@@autumnjerene, something has changed, though. The housing market has be broken by the intrusive elements of corporate and wealthy foreign investors. This is not a normal situation.

[@theflightsimulationexperie6894]

Well you get to enjoy all that new equity right? Well you’re also going to enjoy all those tax price hikes and insurance and it’s only getting started in my opinion. I’m not sorry for you homeowners. You can’t have it both ways.

[@15KHPCLUB]

@@autumnjerene You have a serious misfire if refusing to live in poverty is considered “entitlement” to you. Also I’m sure you’d be pissed off too if you’ve done everything you were told would give you a better life than your ancestors yet still have nothing to show for it. Be careful how you treat others who are struggling, that hunter called “life” will shoot you off your high horse and you’ll end up in the gutter “whining” louder than them.

[@akpimpjuice]

This is helping absolutely no one

[@GravityBar231]

It helped me and many who have been trying to save for a home. I was thankful to hear him acknowledge the housing situation now, and just acknowledging it is helpful and encouraging for us.

[@Twitz88]

The problem with waiting to save for a larger down payment is that you cant out pace the rise in cost of housing. Not to mention interest rates. Dave Ramsey and his people have good concepts overall but their math is no longer applicable in today's economy when it comes to buying a home. For people to say move to a cheaper state, well guess what, those states that are cheaper pay less than the places most people live. So you're still in the same situation. Interest rates in 1971 were over 7% and got as high as 18% in the 1980s. We didnt see rates go below 8% until 1993! Not bringing this up to stress anyone, but we need to use good discernment. The Ramsey way is not a one size fits all solution

[@yanibonnie3]

Thanks for this!! I needed to hear this. All I ever wanted for my two babies and I was a nice, safe, and loving home to call our own. I have been SO impatient and frustrated and it has caused me a lot of stress and anxiety… But!! I will be patient and stay the course. God-willing it will eventually happen. I’m counting on it! 🙏🏾

[@Cyber_Diva]

When single family homes are being warehoused by Wall Street there are systemic abuses. This ought to be illegal. It’s more important than ever to call out systemic abuses. This is our collective responsibility. This is well beyond she ability of individual responsibility.

[@faerydae29]

Exactly. This isn’t normal and it should not be pushed to become the new normal. We need to ban/limit investment companies from doing this. And even mom&pop investors, there’s hundreds of them on social media bragging about owning 50+ homes. It’s so wrong.

[@LAZERZ-OP]

I'm in the same boat as other first time home buyers. I think the biggest problem for me is needing to delay life because everything is going up faster than I can make. I'm 26 and I would LOVE to be in the position my parents were in at my age. They had a new house and could start a family. I can only dream of doing that now

[@BLdontM]

And if you follow the Ramsey advice on homebuying, you wont buy a house until you are 46 at best. Possibly never.

[@PookysMom6]

You can have a family in a rental... Just sayin' 😉 (Half of our children have grown up and moved out, and we're in a rental. Maybe one day we'll own) 🤷🏻‍♀️ ETA: I do understand where you're coming from. It's hard for everyone right now. We have been debt free for 10+ years. We have moved every 2-3 years (military, so not completely by choice) for the last 25 years. Now we're ready to settle down, but the housing market is a little crazy!

[@faerydae29]

I’m 33, I was about to buy a house at 28/29 was getting ready for it then Covid hit and destroyed my life. Lucky you that you’re 26, I’ve had my life delayed at this age and it’s even worse. I’ve had so many mental breakdowns. I hate wall street with a passion.

[@doutheo8399]

I truely think middle class family should have only one child and use the resources for a 2nd child to help themselves and their one child debt free from college. End the cycle. Dave would not address this as a Christian but I have noticed that many of the callers are kids poor.

[@daveblackman816]

There’s hope if you just get a 15 year mortgage and 20% down payment. And still pretend it’s 1998.

[@vicepresidentmikepence889]

Pay cash for a house...good investment Take out a mortgage and have tenants..good investment 15 year mortgage, no tenants. Tepid investment 30 year mortgage, no tenants. Horrific investment

[@johndone8045]

Hahhaha i take it as sarcasm 15 years fix is not even possible, these ramsey people are stupid and delusional

[@dr_pinna543]

​@@johndone8045says the guy still interacting on their channel 😅

[@recabitejehonadab2654]

Then you pray you stay employed.

[@aolvaar8792]

@@vicepresidentmikepence889 ????? Unmarketable Fannie Mae foreclosure in 2011, $50K>> 30 year @ 3%>> $214/mo>>good investment ~$500K, today

[@raymond_sycamore]

Bought my house in 2022 for $29,000 cash. I have spent that last 16 months renovating it myself, spending about $32,000 and doing most of the work myself. I've hired out the electrical and I'm about to pay a crew about $13,000 to put a roof on the house. All in, I'm going to be about $75-$80,000 into this property. No debt. I'm 35. You can do this, it's possible.

[@jayc4715]

Most people don't want to put in ANY work on a home..they just want to finance everything and for everything to be brand new and perfect

[@KevinNordstrom]

​@@jayc4715and then shit goes wrong 2 years into the house they already bought at or above their budget. Always buy the cheapest house you can find without sacrificing safety or health and then remodel over time. I refuse to buy move in ready or new construction.

[@EuroEnthusiast1990]

Where do i find a home for 29k ill buy right now

[@spinz8]

At 29 living in California I thought I could never afford my own house. At 31, I finally landed a 6 figure job and bought a 165k home in las Vegas. At 35, I paid off that mortgage. At 39, I have had raises that increase my salary by 50k since buying my first house. I would not dare to try buying a 2nd home right now. Everything is just too damn expensive.

[@RGE_Music]

what about land and building a house with labor?

[@unelectedleader6494]

How about Dave takes the first step toward fixing it and sells all of the rental properties. Put them up for sale at a reasonable price. He says the stock market makes 10% so put the money into the stock market then if you believe that

[@katiejon17]

Because Dave Ramsey owning rentals isn’t the problem. Blackrock, Vanguard, and democrats are.

[@michael589m]

@@katiejon17team Dave Ramsey is the best investment firm of our time

[@recabitejehonadab2654]

Market doesn’t make 10%. , a thing of the past.

[@whothou]

pretty sure it's just republicans and chinese buying up all the property@@katiejon17

[@KenH-gn6vl]

What I learned from this video: Jade's house is "extraordinary". Good for you, Jade. In 2022, we fought hard for a "you're just lucky it's a house" type of home, and personally I think the door is closing more each year because the country is on fire.

[@aaronmays4355]

Don't plan more than you pray. Stay strong and support each other peeps.

[@Ostro1980]

The problem is that existimg home owner's equity blew up in the past couple year and turned them all into businessman now. It's that simple. It's now a business of how do they flip the equity.

[@TylerofSc004]

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

[@greekmom]

Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.

[@greekmom]

Jessica Annabelle Rupp is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment

[@oopsyung]

Moving to Bay Area for a high paid work was the worst decision I have ever made. The house in Bay Area is not for layman like me.

[@proudliberal24-sv1wo]

Unless you are making like 300k a year, I think a single family home in the Bay Area is a pipe dream. I would just rent what you can afford. Home ownership is way overrated. I own two single family homes near Washington, DC (one residence and one rental). You have to account for property tax, insurance, repairs, maintenance, added utility cost over renting, and any HOA fees in addition to mortgage. My property tax alone for 2 homes is about 16k. Repairs are 5k-6k for two homes.

[@RGE_Music]

I live here too. Its so damn expensive here. I would look outside the bay

[@Tex_Strong]

Houses in Portland, Or are stupid high for the SQFT, $600-900k for 1200sqft with HOA and no yard. Outrages prices

[@fuzzy3440]

For those that are willing to move, be strategic about location. Look at areas such as San Antonio that have booming job markets, and a median home price of $290k. My area in Bexar County has a median home price of $330k. There are markets with reasonable home prices and a good economy.

[@Raegoul]

We live in a duplex and the attached neighbours were renters. WHen the owner wanted to sell, the renters wanted to buy the place. But they couldnt qualify for the mortgage. They moved across the street and rented there and a few days later a brand new SUV showed up on their driveway. Will they ever qualify for a mortgage now? People want their "forever home" too quickly. I bought a apartment condo, lived there for 9 years, married my wife, sold the condo because it was too small, upgraded to a duplex. If We had the desire and need to we would upgrade to a starter house. We're happy with the smaller footprint. People immediately want to buy a house and overextend themselves.

[@shirleyshirley4188]

To me it's makes no sense to postpone buying a house in some situations. If your rent keeps you from saving you might as well put that money into a mortgage if you have the down payment. The trick is not to get yourself in a situation you cant live with. Also in my case i was 51, out of a divorce and had I not had a mortgage never would have had a house. Im 67 and just paid it off. Sonetimes waiting is not the answer.

[@amireallythatgrumpy6508]

In that situation you just find a bridge or a tent to live in.

[@arianathetechie]

Jade is a FANTASTIC host! Quoting scripture and bringing that truth. Amazing.

[@tonyjones629]

By time someone saves up the prive of a house will 600 to 700k for starter home....

[@jasonsharpbucks]

not if you are saving now, you'll be in good shape, buy when it crashes

[@abarbar06]

If you live where I live, they already are.

[@barnabusdoyle4930]

Don’t rent for 7 years saving up 20% for a home. Go into a house with 5% down. Saving $100k to just buy a house is getting unrealistic

[@EricAndradeMusic]

It's also just a bad idea. Blowing 100k like that. Keep it and buy Bitcoin that's a hat I did.

[@loft27ss]

Realistic, we both worked 5 years in UAE ( tax free wages) and managed to buy house in Full when we went back home

[@DABK2024]

​@@loft27ss thats not possible, Americans pay at least the US income taxes no matter where they live. The only way to not pay is to live in a country with a higher income tax rate than the US. If you didnt pay income taxes overseas then you commited tax fraud.

[@loft27ss]

@@DABK2024 I am not American. All you need to do is use your brain

[@effiepatricia3610]

Houses here in Munich, Germany cost at least 900.000 €. Me and many others have accepted to rent forever and/or move to a much more affordable, smaller town after retirement....because the best job opportunities are in Munich....

[@nickk05281982]

Best thing to do is buy a cheap house. Learn to work on it. Sell it once it’s super nice or maybe just keep living in your cheap house. The house sizes have gotten so much bigger

[@Averagedude-mi3fl]

I know we are about to enter the process of buying a home and even in the small town we are in people wanting $160k or higher for an older 2 bedroom home. This is in the Midwest though so keep that in mind. But even that trying to be somewhat frugal just because we don’t want to be house poor.

[@DirtTrailGuy]

Vehicles cost 75-100k. Yes homes are up there in certain areas but there are very nice places, with good jobs where you can buy a nice home for 350k. Like your show has said numerous times… don’t get into debt buying things that are wants not needs. Not everyone is going to get their “dream home” right off the bat and that’s the problem.

[@zimmyp]

Covid was how I was able to afford a house with those under 3% interest rates. I'm so glad I made it and feel for those that are frankly screwed

[@Chet_24]

Im happy i gor my house in Jan 22 (new construction) for 2.8%. Now, if the local govt (city and county) could f off and stop expanding, I'd be over the moon. Property taxes should be illegal/outlawed

[@benjaminhough8804]

Which is why a 30 year mortage is ok. Is it ideal? Nope, but it sure seems like an ok compromise.

[@eggman9713]

I keep saving money for a down payment and the houses in my area keep going up so fast that it outpaces my ability to save. I've just about given up trying. Why have a bunch of money set aside for the down payment when I'm soon going to need that to do other life things and stop chasing the impossible. Maybe someday I'll inherit my mother's small house. But until that day comes, I'm screwed. Also, these people really need to re-examine their advice to go with 15-year mortgage. That just isn't feasible for most people anymore. The payments have to be affordable and a 30-year is the only way to do that for many to even have a chance now.

[@Elizabeth_lowkeyluxuries]

I went 30 year. Debt free. Paying like a 15. Bought a couple of years ago. 25% of monthly income.

[@GravityBar231]

"I keep saving money for a down payment and the houses in my area keep going up so fast that it outpaces my ability to save." So true!

[@markg999]

Affordable homes exist but you gotta be a solid hour or two away from the city at minimum.

[@Royalewithcheesee]

It’s not like that anymore.

[@markg999]

@Royalewithcheesee Yea it is...I guess depends on definition of affordable is.

[@KevinNordstrom]

For me it's around 30 minutes drive from a major city for affordable housing. I prefer to be out of the city anyway. Leas traffic less BS. Less people. Sure it's 30-45 min drive to work but is worth it to have peace of mind financially.

[@plasmaarmelund]

I make 450K a year (base + stocks + benefits + bonus). I STILL barely have anything left after paying my bills and mortgage payment each month. How do people live in this day and age???

[@mustangkurt]

What percentage of your mortgage bills is your take home?

[@karimbennett5651]

There needs to be MILLIONS of new housing units built.

[@trustnun_staylow]

I’m one of the ones that needed to hear this life feels impossible sometimes but I’ll never give up 🎯

[@RSPerformance-RS3EVO]

This housing advice from Ramsey is delusional..... I bought my house in 2020 for 240k at like 2.7%, f I would have waited for the 10-20% down and for the payment to be at 25% I would be buying looking to spend 500k+ nowadays. It's delusional advice because the house prices climbed much high than I could of saved by that time.

[@amireallythatgrumpy6508]

It's delusional to believe home ownership is possible if you don't already own one

[@theflightsimulationexperie6894]

Sounds about right.

[@user77654]

Now it is hard to save anything when rent is SOO high!

[@HisLilyPrincess]

Needed this encouragement.

[@CatsSayMeow89]

A nice home is a completely unrealistic and unachievable dream now. Saved for 10 years, no debt, make well into the six figures and it’s still out of reach because the market went crazy. Stuck in our starter home forever.

[@wasafiassi]

You are a true example of a wise person and a house is not an investment. Be proud of yourself as a successful individual Those with fake wealth have miserable lives, buried in debt and never feel as owners of anything

[@vitamind_forme3850]

In the processing of buying a home. It is so bad out there. A 300,000 home is like a $200000 home 2 years ago. And you would be extremely lucky if it is ready to move in. Majority of them have issues. Meanwhile a 500,000 home is out of reach.

[@GravityBar231]

Well said!!!

[@mikecampbell6672]

A $400k house with $180k downpayment, you're still looking at $1,900/month which is insane. I live in NH.

[@Elizabeth_lowkeyluxuries]

Single woman, bought a home 2 months before the pandemic. Had a seriously unstable neighbor and needed to get out immediately. The home was in great condition, no repairs needed, 25% of income. I was debt free with $1000 for a down payment. Interest rate 4%. Had I waited to save 20% down to eliminate PMI, I would not have been able to buy my home now without working 2 jobs. We're talking $28 a month for PMI, when the apartments I was living in are now what is half my income (they were 25% before). The problem is you keep saving but the prices keep increasing. I could never compete with the bidding wars going on now without 100% cash or family members pooling $ together. Not all of us live in the big city pulling $300k like it's nothing.

[@jimmymcgill6778]

So what was their point?

[@titolovely8237]

They didn’t really have one. It was mostly older people who’ve already made it telling the rest of us that we need to be ok waiting until we’re 45 to own a home.

[@g-ratstickler3107]

At this point the 0 down on a house is looking more and more worth it

[@benascg-ll7sq]

I've been renting my whole life (am 62) it has been giving me a freedom of move to catch and realize professional and business opportunities I would never have had otherwise. Wayyyy easier to rightsize when you rent. Just need personal discipline to set pile of cash aside to support my freedom. My friends nicknamed me the Ralph Lauren hobo😅

[@smart127]

You can still get new builds - single family homes - in the Houston area for the low $200Ks. Builders have rate buy downs and DPA (Down Payment Assistance) programs that make it hard for existing home sellers to compete. Also, when you have a good Realtor representing you - even (if not ESPECIALLY) when you’re buying from a builder - you get the best deal.

[@rastaman7140]

But it’s far from everything

[@obsidianscale5380]

I love that advice, "just take the next right step".

[@DC-jt9py]

My family makes around $200k and we can barely afford to buy a home outside of the hood in my area. Entry price to a good home in a safe area is $600k

[@jonathanclark2160]

If home prices continue to increase then future home ownership won't be possible for 99% of people. Right now if you follow Dave's strict 15% mortgage rule you need to be making at least $150k-$200k to afford a home. In 20 years that'll be closer to $1 million a year. What we should do is not allow banks to give out loans to people buying investment properties. Maybe banks that do loan to real estate investors lose their FDIC coverage. That would stop this upward trend faster than anything else. Anyway, Dave's team; run the numbers on your 15% rule. You will quickly find that unless someone is paying around $200k for a home (good luck finding one of those) they have to be making at least $150k. Maybe you should do some research and see if you can find a good $200k home.

[@MikeTyson-pj1el]

You guys are really well intentioned but I just don't feel like you are helping anyone with your advice. We are heading into a period of stagflation. This always happens when you have governments that won't stop deficit spending and printing money. I can say with almost certainty that the prices of houses will continue to go up because raw material costs will continue to go up in this environment. What's really happening is the dollar is going down. If you save money in an environment where the currency is constantly being devalued, you will not win. It's sad that this is the case because people should be able to save their money and get rewarded for it. Unfortunately, that's not the reality we live in. By the time you save 50k, houses will be up 100k, and by the time you save 100k houses will be up 200k. That's if you make a lot of money. People need to have their money in a physical assets now more than ever. If you can't get approved for a house, at least put your money in a mix of commodities, gold, silver, oil, etc.. Otherwise, you will wake up in 10 years and be in an even worse position. The best thing you can do for yourself is to understand why this situation happened so you can at least take advantage of it as best as possible.

[@sagerice4569]

😩…So glad you guys touched on this! Real talk for sure!

[@wreckingopossum]

I love how positive the Ramsey show is. This level of optimistic realism is what I need in my life.

[@jasonleatherwood2172]

Trailers cost 200000$ now what a joke

[@441bocaj]

33, debt free, housing in our area is x5 our household income. We are able to save 30% gross monthly income. Because of the high interest rates our goal is to save 40-50% down payment. This is going to take 5 years. We are currently on year 2. The way I stay positive is that every month we save towards a bigger down payment it saves 5 months of house payments if we go in at 20% down payment with 7% interest rate. My goal is to have our home paid off by the time I am 48.

[@theflightsimulationexperie6894]

The market in 5 years will be possibly 35% more. Good luck on your savings plan. I did exactly what you did and still am renting.

[@Cardinal15]

We owe two homes one in Texas and one in Virginia, even though homes in Texas are cheaper home taxes are outrageous! 4k for a 300k home last year.

[@ashleyharper584]

Love Jade and John.

[@tbjr1127]

I’m 35 and starting over again after a divorce. I took a job out of state and I’m moving in with family to pay off debt and get back on my feet. Having a family and a house at this point feels impossible. Thank you for the hope

[@harrymajarian9680]

The higher interest rates haven’t taken their toll yet. There’s a lot of speculators and gamblers that think rates are dropping soon to bail them out. But if they don’t they are in trouble and gonna be left holding the bag

[@WSB732]

I got so lucky with my first home

[@Gheuns3251]

Live in SoCal, only gave 5% during pandemic. If I would waited to save 10% would have bought. This is the only baby step I personally modified but I understand Dave’s rational behind it and agree. However my specific geographic area it wouldn’t have been possible. My home now has 200k equity and mortgage is almost similar to rents .

[@ChoiceConcepts-c5z]

3% down ,15 years, stay in the 150-250 range. Who are you impressing ? Pay a double payment every 3rd month. Live in it or rent it out. Either way, rent rates will cover the expenses. Refi in 5-7 years. Your welcome

[@Chad-qe6yv]

As someone that is involved in the construction industry it kinda seems like it's all by design. These big developers if they wanted to could flood the market and stop the skyrocketing prices. But why would they when they can keep the steady supply and just keep reaping the high sale prices?

[@stephanied.k.3589]

Double up and don't participate in this corrupt market The same with autos.

[@jeffreybeck1928]

Psychologist and a young girl talk about the house and Market and feelings, great! Bring on someone with real estate experience.

[@Անի-ո3մ]

They’re a little delusional and out of touch. It’s one thing to be hopeful and another to take a look around and nothing is making sense and not worth the $ amount set on housing market. Let’s be real lol

[@amberz2321]

Sounds like they are reaching at straws now to justify their show. They know they can’t give good advice on this because there is none! And they need a job. Just being honest. They are out of touch with reality.

[@amireallythatgrumpy6508]

All Americans are out of touch with reality. Reality laughs at America.

[@LFOD1776]

Next time some politician says we need to let millions of people into this country- remember this video.

[@sbh3216]

I’m so thankful I bought my house in 2005!! I’m Gen X and I’m extremely sad for the younger generations. I couldn’t imagine buying a house now. My house has tripled in value. I will never sell my home. My goal in retirement is to buy a sprinter van and travel my country.

[@theflightsimulationexperie6894]

I hear you on that. For me, it’s either live in a van or move out of the country to a more affordable country like south east Asia.

[@KevinNordstrom]

I bought in 2013 and my house has doubled. Also paid off. I'm not ever selling. I will however be putting it in my will for my daughter to have.

[@treasurethetime2463]

When a nurse practitioner can't buy a house, things are waaay out of hand. Reminds me of a physician couple in Canada who couldn't afford a house. If two medical doctors can't buy a house together, the market is phucked.

[@tkordik]

It's stupid to buy right now. Stay out of debt STACK UP CASH Keep your housing costs as low as humanly possible. This market cannot last much longer.

[@Rashaadthegr8]

Make sure you guve your kids the house you have when u pass. And it anything else get your 401K started today.

[@jimmymcgill6778]

Jade had a house. So why is she saying that she rented?

[@obsessorforever6617]

Honestly the now doesn't worry me as much as where we'll be in 20-30 years. It seems to be going in one direction.

[@jamespalmer7247]

People have $60,000+ in student loans and every job they're qualified for only pays $15 or less an hour. Starter homes are $300,000+. They're paying monthly rent higher than what their monthly mortgage would be but can't get a home loan. People feel hopeless because things are hopeless. They'll have more money when corporations pay them more money and landlords charge them less rent.

[@reyon33]

Buying no longer makes sense anymore. The median house price is 5x-10x of median income depending on where you live. Factoring into all costs of owning a home. It no longer makes sense at all. If you bought your house before 2019, lucky you. For the rest of the people, I am sorry the boat is long gone.

[@sakuragrl08]

Time is gonna pass meaning people will have to lose in order for other to gain??

[@martyhen]

Yep, real estate is expensive. That's why it's so important to utilize good credit and debt to start buying.

[@amireallythatgrumpy6508]

Credit, by defition, is bad.

[@pi37]

18 years ago I purchased my home for 70,000 at 7.8%.Do the math, same scenario as now. My income to ratio did not allow me to refinance my home. Because I paid my house on time 😅 and was not behind on any payment's through all the crazy things that have happened in last 18 years. I couldn't qualify for any programs offered by the government 😂 or the bank. The one time I qualified my banker went on vacation for 2 months and I had 😅 a car emergency and like a dummy purchased a car caused my refinance to deny. Because he was gone for to long and had to rerun my credit. I was upset for long time stopped paying extra on the principal. 2 years ago I said enough and started paying 1000.00,1500.00,2000.00 and 2500.00 towards principal. I paid off my house this month sent them 20000.00😅 it can be done.If you keep having an excuse my interest is low I will pay the minimum amount look at the interest you are paying and what the actual principal has been paid.

[@davidbrayshaw3529]

Can someone tell me why Americans seem to be adverse to buying apartments? They are really popular with first home buyers in Australia. They're not without their pitfalls, but over here, you can buy an apartment for not much more than it costs in rent and strata fees. I just don't see it in the US, though. Why is that?

[@Elizabeth_lowkeyluxuries]

In my city, apartments are rentals only. You cannot buy them.

[@davidbrayshaw3529]

@@Elizabeth_lowkeyluxuries Thanks for the reply. Apartments are usually rentals in Australia, too. It used to be the case that approximately 2/3 were sold to investors who then let them out. That trend has changed a bit in the last couple of years. Higher interest rates and tax changes are driving investors from the market. Owner occupiers that can no longer afford to buy a free standing house are taking their place.

[@amireallythatgrumpy6508]

Somebody owns them. Somebody bought them. @@Elizabeth_lowkeyluxuries

[@markekins4769]

I needed to hear this today. Real talk.

[@GravityBar231]

I agree! I appreciate that they talked about this.

[@TheVosack]

10 years ago I was making 26K with no real hope. Now I have a great job making 6 times that and a decent nest egg.

[@TstarHey-yx2li]

Hmmm.. I dont quite follow them..

[@brett4932]

Gonna be hard to hear this, but this is the new normal. The monetary policy decisions over the last 15 years that were put on steroids in the last 5 years have pushed the toothpaste out of the tube. Elevated housing prices are here to stay because we nearly doubled the money supply in just the last five years and the FED is not willing to excessively tighten in fear of deep recession, depression and because we are in an election year. The same people who are waiting for a crash or waiting for some outward "sign" that there is a RIGHT time to buy a house will be waiting on the sidelines, still, this time five years from now having done nothing because there ever-shifting correct timing narrative never actually got to where they felt safe. Additionally, those same people will be the ones who are too scared to act DURING a crash. "Well what if we haven't hit bottom", "what if we never recover" etc. etc. Our FIAT system is naturally inflationary. Assets will, over time, inflate in value as a symptom of the system. If you can afford to buy a house and it checks the right boxes - buy the house. Even now. Five years from now you don't want to be regretting that you didn't take action five-years ago, again. And for the love of six-pound eight ounce sweet tuxedo T-shirt wearing baby Jesus, don't take Ramsey home buying principles as the end-all of financing a home purchase. You can absolutely do something like get a 30-year mortgage instead of a 15-year and simply make extra principal payments along the way to pay down the balance faster and pay less in interest if that's in the cards for your cash flow situation. But in the event you have a 15-year mortgage and a spouse loses a job or you have a large expense, you can't just not pay the higher mortgage payment without defaulting. Give yourself some breathing room.

[@roadrunner9622]

"Is there any hope?" No real hope offered. "Renting? Save for 7-10 years."

[@MrRussian2023]

In my area where i live you can still get a house for 369k 4beds 2.5bath

[@boringluke]

$70k saved for a down payment with $70k annual income and no debt at 25. I have zero hobbies/fun. I save/invest as much as I possibly can. I get laughed at when I inquire about junky starter homes. I'm so exhausted.

[@theflightsimulationexperie6894]

You got 10 years in front of you. Stop looking at houses. You’re way too young considering your income you mentioned. I’m 40 and been saving for over a decade and now I’m able to buy. You got a long road bud.

[@boringluke]

@@theflightsimulationexperie6894 I hear you... it's just super discouraging when I work my tail off to save money and it feels like it's instantly "lost" to inflation, ie rising home prices.

[@theflightsimulationexperie6894]

@@boringluke totally hear you 💯 % on that. I felt the same way. Home prices were rising just as fast as I was saving. So it came to the point do I want to lock myself down to a payment for 30 years (possibly 20 years if I pay off early) or say screw it and invest that money into passive income investment ETFs that pay dividends. If I chose passive income, then I can technically live anywhere in the world for the most part as long as my interest and dividends are paying more than my living expenses. I chose to invest in passive income and even though I rent, I can move and live anywhere. If I don’t like a place because it has changed, bye bye,. Best decision my wife and I ever made was to forgo homeownership and invest in passive income. But, maybe if things actually come back to reality I’ll enter the market again. Home ownership is far overrated. Your costs are not fixed with a mortgage and buying a home is not an investment. The home itself is a depreciating asset just like a car. It’s just the land it sits on is what increases in value. So in order to sell a home down the line for a profit, you need to make sure your home is up to date. Homes take money from you every month opposed to investments that pay you each month.

[@boringluke]

@@theflightsimulationexperie6894 I really appreciate the insight, I think I'm in a similar boat as you were previously. I will likely be signing a new lease agreement in a couple of weeks and am really toiling with the decision of keeping my down payment money more liquid (high-yield savings or CD) or just saying forget this home ownership pipe dream and moving it to a brokerage account. The houses I've looked at recently are definitely closer to the project category than the move-in-ready category, and that's not really what I'm looking for.

[@iddddaduncan]

It's ok Dave, you can admit you were wrong about both Real Estate and Gold.

[@wadelevan1787]

😂😂 please explain. Gold is up today, long term is sucks sss.

[@michael589m]

Your watching the best investing team on wall st of our generation! Experts in finance.

[@wadelevan1787]

@@michael589m now now just hang on dude. Let’s hear what the OC has to say about gold!!!!!

[@amireallythatgrumpy6508]

He's certainly correct about gold.

[@PK-hz6kg]

I love this lady insight

[@kellellebelle]

When Dave isn’t there, Jade and John are the dream team!

[@survivingthetimes]

Oh, bull. I'm looking for a house in Florida and there's $300,000 and under homes all over the place. There's just too many idiots who want to live in the big cities, so the prices are going up in those places.

[@LRF49]

Owning a home is a liability, especially now. You would have to be a fool to buy a home and pay all those costs to maintain it and the taxes and probably sacrificing your retirement just to have something so you can flex equity. Something went terribly wrong and housing policy in this country. By now, most millennials should be owning a decent size house comfortable enough where they can see the light at the end of the tunnel. Instead, millennial homeowners or those who are renting. See no light at the end of the tunnel. Something's got to change.

[@rd24life]

No, there is no hope

[@BrianaBudgets]

I’m on year 4 of trying to get a house. I’m completely debt free, I have my full emergency fund saved up and I’m saving $800-$1,000 per month for my future house. I’m sticking the course.

[@whothou]

Stay on it! I'm doing the same!

[@annetawney2408]

Good luck!!

[@andyholstein237]

Either the market crashes, or Wall Street buys up all the homes and we become a nation of renters. We shouldn't allow Wall Street to do this.

[@Savedandfreed]

Keep it up you got this!

[@15KHPCLUB]

Gonna take longer so long as you’re a feminazi.

[@TCR2025]

No offense but this entire video was zero substance and nothing of value

[@blashokowski8794]

The John Balogna special

[@dr_pinna543]

Someone wasn't listening.

[@Jooooowesh2028]

Thank you, glad I’m not the only one who thought that lol.

[@NateDieckman]

What do you expect someone to say whose "got theirs"? Them nor any boomer is gonna admit that the boomer generation killed the American dream

[@deelindsey]

Agreed

[@brantley2171]

This was not helpful in the least. Thanks for nothing.

[@DJRiyzen]

$3k rent average near me, and $1.6 million for a crackhouse.

[@ambitious_iv]

Where is this?

[@DJRiyzen]

​@@ambitious_iv Canada

[@stevegolacks8731]

Time to move then.

[@DJRiyzen]

@@stevegolacks8731 don't need to, I inherited my house. Sucks for others that aren't so lucky though.

[@15KHPCLUB]

“BuT oUr hEaLtHcArE iS sO muCh beTteR!”

[@matthewirish5755]

Sincerely - someone make the math make sense. Under John’s scenario and Ramseys recommendation a max home $$ purchase - a $500k home, 20% down, $400k mortgage, conservative 7% interest rate at 15yr fixed, that is a $3,595 per month, roughly 25% of your income after taxes that requires a monthly take home pay of $14,380, then add ~25% in addition to your salary for taxes and insurance, your family’s base salary would have to be ~$230,000 a year to afford that. According to US statistics less than 12% of American families make over $200k. So, no, just saving for 10 years for 20% down is not a plausible outcome.

[@stevegolacks8731]

If you are willing to buy a 500k home, and dont make that amount of money you mentioned, you deserve the misery you are signing up for. Now, do your numbers for a 200k home....the math will make better sense. What? You said that your city you live in doesnt have 200k homes?.....oh ok, well looks like you shouldnt be house shopping, you should be U-Haul shopping because its time to move.

[@matthewirish5755]

@@stevegolacks8731 Nope. The average home cost across America is $417k. And the jobs surrounding housing in the $200k range offer commensurate salaries. The math *still* doesn’t work.

[@whothou]

200k homes haven't existed in about 20+ years when boomers were comin out in the world. So your point makes no sense. Median income used to be able to afford median homes now only high income people can afford median homes.@@stevegolacks8731

[@denver_mansfield]

@@stevegolacks8731but the thing is is no matter where you go in the US there are no homes for 200k anymore. They are all at MINIMUM 300-350k and anything less is a major fixer upper or in a horrible location. Again that’s if you’re lucky to even find something for that price

[@matthewirish5755]

@@denver_mansfield Exactly - for example, in Dave’s state of TN, I found a city (Waynesboro, TN) with homes for a median home listing of $150k. With 20% down, 15y fixed at 7%, in their plan that would require a household income of $70k - here’s the problem, their household income went down during the last census to $27,700, less than half of what is needed to buy a home. It doesn’t matter the location.

[@PrincessAngelaXOXO]

There’s hope if you just get a 15 year mortgage and 20% down payment. And still pretend it’s 1998

[@superblump87]

Clinton 2024.

[@csx6910]

@@superblump87 whaaaaaaa? lol

[@V31lCl0ud]

Cry me a river. No one cares. Work harder.

[@superblump87]

@@csx6910 Clinton's policies created one of the best economies in the country's history in 1998.

[@penguin12902]

@@csx6910 Yeah. William Jefferson Clinton...not his crazy wife. Bill Clinton was the last president to run a budget SURPLUS.

[@BillyeFuson2]

The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate, I've seen so much difference.

[@JerryLuca-nm9ru55]

I have been making a lot profit through real estate which has been the main source of my income.

[@LarryAnthony-ut8ok44]

I’m interested I want to move to real estate investment can you help me ?.

[@JerryLuca-nm9ru55]

STEPHINE KOPP MEEKS she is whom i work with look her

[@gvue4396]

Are you a financial adviser?

[@muzzz9514]

Are we ignoring the part that people financed houses at 2% interest rates and don’t want to sell and move into a 7% interest rate causing the inventory concerns?

[@TexasMade903]

Exactly.

[@billmelater6470]

Well, to be honest no one is going go sell for the purpose of getting a higher rate. But, I get what you're saying. These artificially low interest rates cause HUGE distortions in the market and need to stop.