The Brutal Reality Of Buying A Home

[@Notorious.Mongolian.Gerbil]

To all the non-home owners hopelessly watching this, you need to understand that by simply watching content like Javier's - you're ahead of most people. Being educated & patient is a superpower that not all humans possess. You will be a homeowner someday.

[@kathleenepugh9495]

Knowledge is POWER! The more you know, the better the decisions you make.....hopefully!😬

[@claireh.7605]

His content is almost useless. Just says nothing and repeats same thing over and over. Basically a word salad. His comment about Doom Bros like Peter Shiff was good though.

[@calvinc.2333]

Dude you literally just helped lower my stress from me reading that comment

[@steveh5307]

I make $180k base salary and around $30-35k bonus. Houses are $600k for 80 yo shoebox houses and $750k for a newer average home. I have $200k down payment sitting in high yield savings. I contribute 10% to 401k. Mortgage on a $750k house with tax and insurance would be basically an entire paycheck. I currently pay $1,800 for an apartment. Going from $1,800 to $4,400 is a scary thought. So I'm still sitting on the sidelines.

[@ryanmccluan7467]

My goal is to look back on this and say “he was right”

[@BoldFollower]

Here is the deal. Our rent was about half the paycheck. The house we bought's mortage was about half our paycheck. What we gain for in "building equity" we lose in repairs. There are ZERO options for us to rent cheaper unless we want to be in a super dangerous area or live super far from work (which my job requires us to live a certain distance from the office, so thats not even an option). People who don't have money, simply don't have choices. I'd LOVE to find a location that works for 1/4th the paycheck... but thats simply not the reality.

[@DaTruth683]

I was almost in this situation a little over a month ago. I was 3 days from closing, I got the closing disclosure and the mortgage, insurance and taxes were 50% of my take home pay. I just couldn't proceed, so I terminated the purchase. The seller kept the earnest and that's a drop of the bucket compared to the fact that I will be literally house poor

[@johnnieboy66]

If you don't mind, could you share the numbers you were looking at and what it would've been for you? I feel like I MAY be in that situation too, and I'm thinking of backing out.

[@jamain12]

​@@johnnieboy66 do you still need help? I can send you a spreadsheet so you can plug in your numbers and determine

[@johnnieboy66]

@jamain12 Absolutely, that would be great.

[@thejakelegion]

This woman brings home 2400 a month, and they are paying $2,600 a month for child care. This woman needs to stay home with her children.

[@9xx19mm8]

The woman should have never had children. Period.

[@uneyedentified2017]

5400 for a mortage when you make 120k a year is insanity

[@Tunechi65]

I'm scared to spend that much and I make 240

[@yepdontcarebud]

Me and my wife make 110k, and I'm scared to have a payment over 2500

[@mariog7682]

@@yepdontcarebudwe make the same, but payment is $1900. We are doing great every month.

[@uneyedentified2017]

@@Tunechi65 im in the same boat. I take home around 8k a month

[@travelwithedz]

agree! I even don’t want to spend over 3k. We have other bills too.

[@ReanuKeaves1]

I commented on this post when it was just live and deleted my comment. I’m paying more than 50% of my take home pay and while I’m playing a risky game, I have been able to save enough money on the side. Additionally, I’ve been able to pay additional principal payments, cutting about 5 years worth in 1.5 years. I’m on pace to pay off my home in 12 more years. Am I crazy? Yes. How am I doing it? Being frugal and responsible with the pressure I put on myself that my family is depending on me and that spirit will not make me give up ever. I will never give up as long as I have my family. I know I’m in the minority but it is doable.

[@Drew-l3r]

💯 you can do it! We did it in 2010. We live frugally and when you pay your house off you will have changed your spending habits and live on half your take home. You will be a millionaire before you know it. Very smart to pay off early. Most of your money will be made in your 50’sand your house will be paid off 😊

[@ReanuKeaves1]

@@Drew-l3r Thank you for your positive comment. I’m glad to hear similar stories and while I know my lifestyle isn’t for everyone, I know it’s doable because I’m living in my shoes doing it.

[@MrJlnightshade]

I think it depends on what your income is. Depending on different factors such as family size, medical bills, and other cost of living factors, if the remaining portion of your take home is $3000 - $4000, or more, you should be fine. If it's $1000, I would not recommend it. 50% or even more means something very different for someone who makes 250 k vs Someone who makes 80 k . For the average wage earner, the video holds very true.

[@ReanuKeaves1]

@@MrJlnightshade Income in $107,000 for a family of 5 (and a 6th on the way).

[@Kimberly3736]

I recently sold my house that was over 50% of my take home pay and I’m SO happy. I honestly don’t see myself buying another home for a long time and I’m perfectly fine with that. I liked the freedom of renting. Selling my house was a nightmare of stress.

[@TimothyWilliams31]

In my opinion, housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[@kelinicole-r5t]

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn't king at all in this time!

[@JuanRodrigo-mj8be]

You are right! I've diversified my portfolio across various markets with the aid of a financial adviser, I have been able to generate a little bit above $450k in net profit across high dividend yield stocks, ETF and bonds.

[@SuperDevon1994]

I have been thinking about how to grow my reserve by at least 40% or more within months. I will be grateful if you can give tips or anything on how to make good market picks and how I can get my portfolio diversified and balanced in order to meet up my target.

[@JuanRodrigo-mj8be]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've been stuck with *KAREN* *MARIE* *GENDRON* for about five years now, and her performance has been consistently impressive.

[@SuperDevon1994]

Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.

[@christyp4264]

I bought a home in a similar situation and ended up selling a few months after at a huge loss and was planning on a possible short sale. Being under that much financial pressure is never worth it, every day i was stressed about money. Stress like that can even cause illness. I would buy again but buy way below my means, there are all types of unexpected expenses that come up with a new home. Life is too a short to live for a house, if you can do it at less than 30% ok, if you cant do that then dont buy

[@johnnyb33good21]

I don't understand. You were pre-approved to buy a lender who looked at your income, credit and assets verify you could afford a home and then bought the home and then You sold for a loss for tens of thousands of dollars after a couple of months instead of paying a couple a hundred dollars extra per month for your own home? As a renter it is guaranteed your rent is going to go up over the years and you miss out on all the homeownership benefits such as you building equity in your property going up in value and your mortgage getting paid down to where you won't have a mortgage and there's tax benefits for owning a property You were stressed out affording your mortgage payment. You could have taken on a couple of extra shifts or got a second job.

[@86Framer]

⁠@@johnnyb33good21I’m confused by the “couple months later” part too. It just seems like budgeting by slowly furnishing the house with second hand stuff and so on, combined with picking up a side gig. A way preferable to losing at least ten grand and then moving into an apartment. How did they have the cash for a deposit and first and maybe last month rent?

[@sammn6186]

Take extra job job to be able to pay the bank while your physical and mental health deteriorate? Wow!

[@johnnyb33good21]

@sammn6186 I have bought and currently own multiple properties. I know what goes into the buying process. You do the math before you buy to know what you can afford, so it's not a surprise and plus lenders won't lend you money if you can't afford the payments. I'm just wondering why the original poster gave up so early and sold his home at a loss which more than likely he had to come to the escrow closing and pay to get out of his house tens of thousands of dollars to get from under his house Yes life is stressful and owning a property can be stressful but it is definitely worth it. The equity in my properties have made me a multi-millionaire. there's a lot of ways to make your dollars go further by paying off or getting rid of car payments, credit cards, reducing eating out, taking on more hours at work, or getting a second job. I just feel bad for him because he was very fortunate to buy a property. Not many people can get to owning a property. Homeownership is the biggest wealth generator for the average American. with that being said, homeownership isn't for everybody.

[@86Framer]

@@sammn6186 If the extra couple hundred bucks for a mortgage is the problem causing the physical and mental problems. Why not remove the cause of the problems by budgeting and working a side gig? By getting a better job? By pursuing a raise at your current job? Why do want to infantilize grown ass adults ?

[@gemini022]

Thankful we didn’t overspend in 2019. It’s so tempting to spend more on a house because the competition is brutal. It’s not easy at all.

[@Palantir_Daily]

You’d sure have a ton more equity if you over spent in 2019.

[@TheSterlingArcher16]

lol if you bought in 2019 you have things in easy mode. You could have put 50% of income towards a mortgage then but since you’d refinance in 2020/2021 and probably get a 25% raise due to inflation you’d be sitting real pretty today.

[@BREEZYM6015]

I was paying 50% of my take home pay on rent anyway so why not buy a home and have a lower monthly payment? I decided to buy a townhome in September of 2023. I make 60k, have a net of $3,600 a month, and have a mortgage of $1,550. I have no car payment, credit card debt, or student loans so my monthly expenses aren't that high. It's going well so far plus I have an emergency fund. We'll see if I made the right decision as time goes on.

[@tears2040]

Congratulations

[@IvanOrrala-nl9jf]

is that including taxes and other fees every month?

[@richardbarrow7498]

How much was the cost

[@0529mpb]

In the Phoenix area where Javier works, renting a house is typically $2250 and mortgage is typically $3100.

[@Rosiebudgets1]

Thank you so much for this. This is the the exact situation I’m in now. My payment would be a little more but I feel like if I don’t have too much debt outside of this then I’m okay.

[@JacobPaul-n6p]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[@Agatha.wayne0]

It's likely going to grow worse. Housing that is affordable will soon become unaffordable. Consequently, I will encourage everyone who wants to take action to take it now, as today's prices will appear to be lower than they are tomorrow. I believe that we will witness hysteria as a result of unchecked inflation until the Fed takes additional action. The band-aid cannot be torn off halfway.

[@Dave_East]

The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.

[@Lewistonwilliams-f5i]

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@Dave_East]

'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@DhanaPayar]

I find this informative, curiously explored Jessica on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated

[@martingonzalez1332]

Putting in a Sonic Theme at the intro is such a Millennial thing to do and I’m here for it😎

[@xavierrowland157]

Glad I wasn't the only one who caught that.

[@AlvroNX]

You beat me to it too 😂

[@richardsalaverria9363]

The Majora's mask on the wall and N64 games on the shelf were also a major tell of the millennial culture, lol.

[@loisthelibrarian]

Better than 65% going towards rent, which is fast becoming the new normal.

[@boot-strapper]

renting is way cheaper right now. like half a equiv mortgage

[@MBV180]

@@boot-strappertechnically true, however all depends on the market and where you are.

[@BREEZYM6015]

​@@boot-strapperDepends on where you live. Buying was cheaper for me as opposed to renting in Las Vegas.

[@eldybellacetin8167]

The first two years you build no equity. You better hold that house like your life depends on it while were going into recession. Now is a shit time to buy rent and save

[@IL_Bgentyl]

Large part is Americans have gotten comfortable being gluttonous consumers. People are having kids much later in life. You can save most of your income by living with family, friends, or co ops. But people are obsessed with having my car, my home, my, my, my

[@annemariemiguel2541]

I've been so TEMPTED to take on a loan of 50-70% of my real money take home pay. Thanks for the real talk.

[@Samuelsoft]

Please address this. As a nurse you tend to make the most money in California, Bay Area(San Jose/San Francisco) which would be yearly income of about $200k a year max and take home pay of roughly 10-12K per month. But the least home price out here is 1 million dollars at least and average mortgage is about $7,000 and above . Is the idea of home owner still worth it? I considered home ownership but it looks like i'm just going to be house poor and barely scraping by. Moving to other parts of California is not really an option cause it would require taking a huge pay cut down to about $100k yearly.

[@harveylin3548]

I have a friend who actually pays a mortgage in LA, he is a nurse. He took the same salary and moved his family to Houston, even through technically he can afford his payment in CA. Moving even with the same pay just opens up a lot more disposable income for his kids.

[@d3r3kyasmar]

I am a nurse in the Bay Area too. I earn $275K. But i will not buy a home here. I am in a very good situation with my apartment.. i got it during covid so it is lower compared to current market rate. I pay only $2450/month for a 2 bedroom 2 bathroom apartment. Its only 15mins drive away from my work and it also has access to public transportation that i even use going to work everyday for free. If i will buy a home, the place i can afford is 2 hours drive away one way. And there is no way i am paying it $2450/month mortgage. It makes more sense for me to stay in my place. I have been here in my apartment for 3 years and my landlord hasn’t raised the rent at all. I am happy and thankful.

[@joseCalderon1976]

I would never have a mortgage that takes 50% of my gross pay or take home pay for that matter. I make around $100k with OT at my job, my wife works part time, so she takes home about $20k (both gross). We got into a modest home and mortgage of $1200 per month and we have no car payments (we drive good reliable used vehicles). With Inflation, even a $1200 per month mortgage doesn't feel that cheap anymore. I can't even imagine having a $2000 plus per month mortgage with the houses being so expensive and the interest rates at 6 plus percent. We are humble an very lucky to be in the housing situation that we are in. Our rate is 3.5%, we have about $170k in equity and we have about $95k to go. Another great thing is that we have good stable jobs. We are very lucky. We have two kids. Here in San Antonio TX. We moved from California to Texas in 2011, for us to be in the situation that we are in. We are humble and lucky. I only hope that one day houses lose at least 30% in price so that others can afford what we currently can with our salary.

[@liliumz]

My spouse and I live in a very HCOL area and have been house hunting for a couple months but recently decided to wait. We don’t want to take on 45-50% mortgage payments and rush into buying a mediocre home for a jacked up price just because of FOMO.

[@timozuna]

I just don't see how people live without stretching themselves prices are way too high and pay is way too low. You must either be rich or share a home with roommates or family.

[@CrystalCormier]

Facts!!! Home ownership is alot different than it was 20-30 years ago. You cant just look at it from point of long as i pay my mortgage im good. What about maintenance cost. Even if you buy brand new house eventually at some point your gonna have to start replacing things and that cost.

[@oeolson1]

Javy, thank you so much for these videos. I've been watching for years as my partner and I have been saving up for a place, and it's been so helpful. Just recently, a very aggressive realtor and lender tried to convince us to buy a condo at the very top of our price range. We got so close to making a decision that would make our lives so stressful, but I remembered all the red flags you taught me ("it's fine, buy now and we'll refinance later!") and stuck to my guns. I'm so relieved to be going into this next year feeling financially secure. Thank you!

[@FeliPeltier]

Short sales have already begun in my area and it’s already tanking comps. Some sellers are delisting, others are reducing prices.

[@stefaniemarsland626]

Thank you for being one of the only realtors I've found that is being honest.

[@jacobstrouble6631]

Owning a house is so overrated today and you can't purchase without being broke until you sell it. It's too bad people can't find anything worth buying under 200k.

[@latsnojokelee6434]

Yes, too many people have just let their houses go to crap and then they put them on the market and then the buyer gets all sorts of nasty surprises to fix. And some people get amazing inspectors, and then the rest of us get guys who are just sucking up to the realtors and missing some of the most obvious things and when you call them out on it, they excuses that whatever they didn’t find must have “occurred after the inspection”.

[@evelynvargas147]

I bought my first home, after binging tons of your videos. Aside from feeling semi-prepared, there were so many curve balls thrown my way, supplemental taxes, increase in monthly mortgage pmt, increase in home insurance, escrow shortage, etc. I am thankful for listening to your advice of buying within my means. Despite all the additional expenses, I was able to continue paying my monthly pmt with no issue. I have a friend whose monthly pmt went up by almost 1k, she was stressing badly. For those of you thinking about buying with the monthly pmt taking half of your income, do not do it. Stick to what is feasible and affordable, with enough money left to pay for unexpected expenses.

[@thomaskelly3880]

Not the house you want ...but the house you can afford !

[@tears2040]

50% is great for a mortgage when people spending that for RENT. My only regret is not buying a home sooner, thank life and buy soon as possible

[@Oskar-sr3lq]

mortgage should not be more than 30% of your salary. PERIOD

[@harveylin3548]

This is why I moved to Phoenix metro once I got a new job and took it remote. Now I really do only spend less than 33% of my monthly take home income on housing. I get to live the lifestyle of my own place, two cars, and a lot of disposable income. Now that dream might be over due to housing cost going up a lot in the PHX metro area.

[@GenChanger]

Great practical content Javier! Thanks for always educating people and being very real in your advice. I am a Foreclosure Defense attorney and regularly see the negative consequences of taking on a mortgage that becomes a shackle. Keep letting people know how to plan ahead.

[@jrspookjdm8849]

I’m currently spending 66% of my net income on a mortgage. I had about 100k saved before jumping into it. Used FHA with 3.5% minimum down. I’m single with no kids and $0 debt besides mortgage and monthly living expenses ( no car payment) . After closing, moving in, and doing some minor upgrades to the home I’m down to 70k. I contribute to my companies matched retirement plan and max out my Roth IRA every month ($580). Is it tight? Absolutely. but I’m in healthcare and really have no fear of being without a job. Knowing I have that 70k in the bank gives me peace of mind.

[@gadflyofhumanity_6847]

Just wait until the H1-B gets expanded and you'll soon be out on your butt.

[@IvanOrrala-nl9jf]

how much was the home if you done mine me asking?

[@citystarproductions6703]

I had this idea to have a cushion of money too. But i also realized that the rate at which you save would slow down drastically once you are paying a mortgage, so a cushion is good but im afraid of it slowly dwindling down Especially if i have to do maintenance on the home.

[@jrspookjdm8849]

@@IvanOrrala-nl9jf The home was just under 430k in central Cal in a very desirable area and fast growing city that is much cheaper than most CA areas. Loan rate was 6.25%. I’m comfortable with the payment rn and plan to refinance into a conventional until rates go down to the 5.5% range.

[@jrspookjdm8849]

@@citystarproductions6703 The rate at which you can save will definitely dramatically decrease. A healthy cushion of cash 25-30k should cover almost any major home emergency. If you live a simple life and don’t drop thousands unnecessary stuff that cushion will last you a few years for regular home maintenance depending how big/old the home is.

[@boot-strapper]

you are missing a major factor here, mortgage interest is tax deductible. That can knock you down into the lowest tax bracket

[@gmoney0987]

That’s A LOT of mortgage interest. You’d have to pay like 28k of interest for it to even matter if you’re married, filing joint

[@boot-strapper]

@@gmoney0987 almost all of the mortgage payment is interest in the beginning. A modest home is like 5k/mo almost purely interest.

[@rickyal946]

All I can say, is I was well prepared to buy my home bc of so much information I got from your videos. So far so good. I closed last May, I thought I was gonna be broke. However, I'm good and ai buy it alone. BTW, in Broward County Florida I see a lot of house in the Market. Thanks for all

[@AndrewFord-tg3jx]

This is why he’s the only agent I trust. He just gives facts and tells people to do their homework.

[@ThatCarGuyEddie]

I can’t begin to thank you enough for this video and of course the phone call today. Finally the voice of reason. I almost sunk myself into 51% dti today. Saint Javi!

[@carloshuerta5173]

I know every market is different but in my case, I live in a VHCOL area and rents have been going 5% up every year, I made the calculations and in 5 years rent would catch up to current mortgage payments. It's risky but with high interest rates it's very possible that we would be able to refinance in the short term once rates go down and house prices will go up further more.

[@mhodge0890]

He said he makes 11k after taxes and asking if he can afford a home?

[@BREEZYM6015]

I make $3,600 after taxes and bought a townhome.

[@artoriasoftheabyss1575]

I feel like these types of posts are just trolls

[@sandravictorio557]

Thank you for your valuable content! I am not a homeowner yet….

[@csnoremac1]

Thank you for the video. I am worried that i will be waiting forever and this feeling really sucks.

[@juanrestrepo1017]

$11k per month income after tax is crazy!

[@investingVS]

It's never about how much $ you make per month it's about how you spend / invest that $. Seen friends who make 30k a month go broke on stupid decisions in the early 2000s, 2008 and I'm sure the next phase is incoming.

[@User122-qi6md]

Javier, you and Kristina Smallhorn are my favorite truly honest real estate professionals I like to listen to! Keep up the good work!

[@ivanrojasmorales420]

I've been at 40%of my take home since 21. Buying my home back then was the best decision that i have ever made.

[@Captaine_Crunche]

You should really put disclaimers about these scam investing bots getting traction in KZbin comments and preying upon the desperate.

[@maisapinheiro4358]

I absolutely love your videos. Thanks for being here :)

[@christianf.1584]

I live in california. I've been trying to look for a decent home for a while now but the prices are outrageous. I can't imagine finding a decent home for 30% of my budget. My wife and I have a combined two fifty... everything needs tones of work.

[@Filmstarindamaking]

My mortgage is 100% of my monthly income. Thank goodness my wife works too so we can eat and pay other bills.

[@hungp.8191]

It's a bit depressing. For a decent home in Sacramento CA, my monthly payment is going to be around 60% of my net income :/

[@ozzayyyy]

How much is your home ?

[@Harkie760]

Important to remember, I think the percentage matters less the higher your income is. Having a 6k mortgage but your take home is 12k is not that big a deal. 6k left over at the end of the month is plenty

[@MewKiyoko]

I was in Phoenix for work last weekend and I'm sorry

[@connorbourgeois]

My wife and I are waiting for exactly what you said towards the 10-11min mark of the video. Short sellers and/or forclosures. This will be our soonest opportunity to own a home for what we deem to be a more "fair market" price. The insurance rates are what they are, can't really change that (without spending a scam-level amount of money to buy down a ton of points...) and so we are waiting (anticipating) a partial housing correction through people coming up short month to month, and having to sell the house. We live in the Phoenix area like you Javier, and honestly, if in person you seem as genuine and leveled headed as you are on KZbin, we'd love to work with you. It seems you have most of your clients best interest in mind.

[@IL_Bgentyl]

The biggest advantage I’ve had in life is not having to buy. When plan ahead and make choices for the future you tend to be alright. Because when companies are hurting they give VERY advantageous deals to move product may that be a car or even a house.

[@sjoncb]

*28% Rule* It’s generally recommended that no more than 28% of your gross monthly income should go towards your mortgage payment, including taxes and insurance. Anything over that is living la vida loco.

[@BitsOfInterest]

Try not to go over 25% of gross or 33% of net pay including taxes and insurance. In Texas property taxes are insane and going up all the time and with natural disasters you're lucky if you can get home insurance at all. It's $4k for us just because we already were a customer for car insurance, nobody else was taking new customers...

[@CaptainCooter]

I’m 23. Me and my Fiance combined make a little more than this calculation. Regardless, I did the math in the same way. She wanted a $550,000 house, I laid out the numbers, we bought a $380,000 house. I just sent her this video to reinforce it, ha. Thanks!

[@kjc2786]

You gotta get out of debt first. The hope prices are a problem, but we gotta chill with buying everything we want. That guy on Reddit should not buy a house until he’s out of debt.

[@bobbysifuentes]

Do you have any videos on assumable loans? I had to allow someone to take over my loan because we ran in to some hard times. It was either this or foreclosure.

[@Islandasian_]

I live in Hawaii where homes in Oahu are on average 1,140,000. Idk how people can buy VHCOL without it being 40%+ of their take home pay.

[@Frescobar170]

Singing a different tune from 2021 You’d watch this and think Javier from 2021 is an evil twin brother. This dude was NOT talking this in 2021 and I am shocked he’s acting like cares in 2024!. Go look at a video from 2021. You’ll see how he contributed to the madness that has led us into today’s depression in the housing market. But to hear him in this post. Where was this energy in 2021?.

[@nicolasbenson009]

Great video! For 2024, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@Michaelparker12]

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[@BridgetMiller-]

You are right! I’ve diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@berniceburgos-]

Do you mind sharing info on the adviser who assisted you?

[@BridgetMiller-]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@msjohns128]

Ohhhhhh yes I know someone, been in the house 12 months n paid for 7 months n did a remodification on the loan in hopes it would go down 1k a month, but did get nearly $200 off a month

[@phykios]

Can you do a video of renting and investing the difference vs. buying a home

[@Mozgarage]

I make 120k and I can’t even afford to live in my hometown. With a VA loan and interest at 6.67% my payment on a 380k home would be like 2.7k including escrow. I’m terrified. I feel like I’ll have to move to a cheap state or the desert 🌵 or a shitty state like New Mexico or southern Colorado’s

[@berto8232]

$300 car payment. Yeah, maybe 5 years go. ☠️☠️☠️

[@FeliPeltier]

That’s like the insurance alone now. Kind of exaggerating, but also not really.

[@desiv1170]

If you are looking to stretch to buy a house, you better not have a new car with it's new car payment. If you have a car payment, it's for a nicer used car, and hopefully you still put some money down. If you have a $700 or more car payment and want to stretch for a house, start by selling that car and getting something with none to a low monthly payment.

[@jesterj8526]

I think there are some dealerships that can do that with some newer cars and that’s in California but I need to look at the promotions just to be sure but yeah insurance and then put money aside for maintenance

[@rugerclausen]

Great distinction lenders are their to qualify you not to determine if you can afford it

[@DeanTCG]

Dude in the example has approx. 4.4k left for the month. Also the mortgage would be around 40% of take home pay

[@JonathanZuniga-cd6oq]

People are getting into owning a home Hoping and praying rates come down in the future so they could refi

[@greylindjames1786]

Can you do videos for first time home owners who are single? Most of videos and examples are of people who have dual income households.

[@Robwelds]

I just watch cause I can’t believe people sign up for mortgages that high. Yes I was luck bought my second house in 2018

[@trashpacker4500]

“Right now, people need to chill.”

[@Virtues162]

I think you made an error !! FHA max is 57% !!

[@joncena168]

Hey brother if you have not can you do a video on $0 down mortgage options now? I saw it on Dave Ramsey. What’s your take please. Thank. You as always Javier

[@lilsabin]

Name of yhe sound playing in the background please .

[@mthreezo]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@MaryWilliamson-h2o]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@JamesFreedon]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@devontorres6449]

Is that the SONIC theme song in the background 😮in the beginning of the video 😅

[@RebeccaDLouis]

Great video 💯

[@T8rB]

Oh boy another video!! Love this guy, idk what he’s yapping about but I just love that he looks like he’s wearing permanent Groucho Marx glasses 🤩

[@DoubleOhSilver]

Groucho Marx?

[@sloppysk8r13]

You got me in the first half! I couldn’t care less for real estate , but it is funny to see him yapping while unironically wearing Grucho glasses

[@kcalderon03]

When will rates hit 5.87%? Also, what would be the max percentage of income to use on a house payment? In your humble opinion 😊

[@BrightKidsWhoLookLikeUs]

Do a buy down it will take your interest rates down by 2 percent

[@Casual_Collector]

Do you not ever do videos including VA loans?

[@jasonfazio8212]

Permanent Groucho glasses got me dying 😂😂 idk if I can ever look at Javier the same

[@latte1648]

My rent is 7% of my net monthly salary. I'm staying put!

[@iroyaliflush]

$9800 mortgage takes 54% of my net - feelsgood.

[@ngb802]

If his wife is making 2400 a month and day care is 2100 she should be trying to make much more

[@lesliesusana1373]

She should just be a stay at home mom

[@BlazeBullet]

I came for the option 3. Just gotta oil up now 👍🏽

[@manhalfamazing00]

I really appreciate this channel man. Rumor has it, September may bring a few surprises and recommendations or is it just another hyped up situation?

[@cxerphax1]

Bro that’s life. If you want a nice house it’s going to cost about 50% of your monthly salary. Find yourself a spouse and rock that dual income to make up for it. A tale as old as time unless your mega wealthy

[@uknonwusernumber5555]

Is this video remixing the music from sonic ... ?

[@Meerkat17]

I bought my first home last summer. My mortgage is 20% of my take-home income. Include my student loan repayment to that, it goes up to 35%. I guess I'm thankful that I'm living within my means and saving/investing the rest of my income. I'm still waiting for rates to go down so I can refinance. I bought mine at 6.125%.

[@cathyzhang2769]

Nothing is cheap nowadays.

[@dabronxguru1824]

Too much over thinking ! I have owned and sold two homes during my time and made nice profits. Just buy something you can live in for five years then sell it.

[@economicdevelopmentplannin8715]

This ❤ Just buy assets

[@executivelifetv]

Conscious home buying 🏆👏🏼👏🏼

[@jayman5692]

I make 230 and I’m still nervous about my 1600 mortgage

[@cliftonixs]

Thumbs up for perma mustache glasses and downtempo Sonic the Hedgehog beats.

[@ivy5554]

Yeah it just seems out of touch to say 'never spend 50% of paycheck on housing'. Inflation is out of control and some people dont have the option to live with friends/family and we still have to live somewhere. If I have the downpayment, no pets and no kids (and no plans for any), I'd rather own my own home than pay the same or more to rent from a scummy landlord or apartment company. There are also other factors that can make up the difference like not having a car payment and working almost exclusively from home. People always like to say 'but keeping up a house is so expensive when it's on you and not the landlord' but that's not always true. You get a home inspection so you can get an accurate overview of the state of the house before you buy so you can make an informed decision and plan ahead if there will likely be issues in the future. If you take the proper steps to maintain a house the costs should be spread out over time, and you pay for insurance to take care of any larger unexpected issues. Insurance typically has a deductible but the point is there are options, and spending 50% of income on housing doesn't mean the homeowner doesnt have the means to put money in savings too. You have to do what's right for you and your situation and happiness.

[@timothytiu1333]

Summary: gross income is so millenial. Net income is the future of calculation

[@JavyVidana]

Lmao

[@bigd2256]

That guy is a dope for even considering that

[@8moreno6]

I've commented before... I really wish you spoke withe the same mind frame of when you bought your first home. And there you go again with your bubble explosion tin hat from 2019/2020

[@MrFresh87]

Sonic music 👏

[@sabthdog2468]

I live the sonic music.

[@IntuneGames]

Like the sonic the hedgehog music in the background.

[@Ganon64-s4k]

I gave up 😢 the future is unclear and gloomy.

[@HayleyPond]

How do you not afford anything making $13 000?!