Should you buy real estate? Why is it so unaffordable to buy a home

[@Jess-whl]

I never knew that part of south Seattle existed. It is beautiful! Thank you for taking us on a tour of the neighborhood.

[@GeminiWalkandTalk]

It really is one of the finest yet no one knows it exists

[@MarkoKacanski]

Great videos and topics. Keep up and best of luck!

[@GeminiWalkandTalk]

Thank you! Lots more coming

[@Mkeon]

I love how you use history to make your points. “Those who do not remember the past are condemned to repeat it.”

[@GeminiWalkandTalk]

It's so easy to lose perspective nowadays

[@bakerstreet101]

I don't know the situation in Seattle, but in the tri-state area of NY, NJ and CT, annual property taxes can be 2-3% of the assessed value. That, insurance costs and maintenance will bleed away your equity if prices don't go up. With interest rates near 5%, cash is a pretty attractive place to put your money as opposed to real estate.

[@GeminiWalkandTalk]

What is the average rent inflation over the last 30 years?

[@ec188]

I am single and invest all my money in the stock market. In long run, it is much better investment than housing. I could get over 20% gain per year in long run but many housing can’t gain that much.

[@GeminiWalkandTalk]

Life is very easy when you're single

[@thecyberseer]

yeah, I agree. You don't want to pay crazy rent when you're old

[@GeminiWalkandTalk]

Can you imagine how much it will cost in 30 years?

[@cultofhercules]

Seattle looks amazing. Do you travel to Vancouver sometimes?

[@GeminiWalkandTalk]

Yes often

[@sazji]

Seattle has its problems - it is a city after all - but it’s mostly a beautiful place. Not the hellhole that certain media would have you believe.

[@rsg7221]

I think the countryside is a saver place for children. House prices are lower and there is more nature to enjoy. And if you live in a country where the infrastructure is great, you can also keep your corporate job and build a great career. I never understood why the USA does not invest in great public transport.

[@GeminiWalkandTalk]

The problem is in the American countryside you can’t walk anywhere

[@IRGhost0]

you're right that to really be thinking wealthy, it's a generational thing. people need to think of generational improvement, since your kids are you. do your best for your kids, secure as much wealth and property for them as you can, then they're able to have a much better starting point. they can then work as much as they can for their kids, and the pattern continues. after just 2 or 3 generations, your bloodline suddenly finds itself extremely well-off, where originally you may have been quite poor.

[@GeminiWalkandTalk]

Yes, lots of people have lost grip of this timeless truth lately!

[@covariant5749]

what if the next generations screw things up and waste your wealth and property?

[@IRGhost0]

@@covariant5749 that often happens. that's part of being human, sometimes you make those stupid mistakes. and then if they have kids, those kids will have to start over and rebuild from scratch.

[@albertkeller9084]

Social class is real. You can move one level up it is already really good.

[@iamdrone]

so shitty roads around expensive houses

[@GeminiWalkandTalk]

Classic

[@taterrhead]

uhhh it's kind of bad advice to pressure people into buying an 'asset' at its historically highest price (and relative low value). You also aren't thinking about the increasing budget deficits that City, State, and Federal governments face in America ala they will come after asset owners via taxes ala property taxes and look at Florida ... HUGE property tax and property insurance (and mortage insurance) increases the past 3 years in a row. You don't own anything in America.

[@GeminiWalkandTalk]

I did say now is not the right time

[@JerseywoodSAG]

70 % of working americans will not be able to pay off their house in their lifetime. That is a fact based on the current standards.

[@GeminiWalkandTalk]

What if multiple generation pay it off like always in history?

[@NoahGlusenkamp]

But I was told Seattle is dying derp derp

[@GeminiWalkandTalk]

I will make a video about that

[@yugiohfanatic1964]

he says lots of lies, the USA are the best, and young people must pay all their money to fund Trump and Musk, they are the GOAT, I hope all young people give all their money to rich people because it's the best solution

[@GeminiWalkandTalk]

🙄