Should I Try to Outbid Someone For a House?

[@TheRamseyShow]

Work with a trusted real estate agent who will coach you during the entire buying process: bit.ly/3sZJYtb

[@lkj0822g]

Sometimes, the best deal is the one you walk away from.....

[@alexandersmith9628]

I will mostly suggest giving Forex Trading a try

[@alexandersmith9628]

Most people are scared because of the chance of loss incurred while trading

[@justintrudge3311]

I would love to recommend Professional Theresa

[@charliechang9575]

Her stories are everywhere

[@charliechang9575]

My first investment with Theresa earned me profit of over $25,640 ever since then she has never failed me

[@DeltaSleepy]

Sounds like this caller doesn’t know the difference between a Roth IRA and a mutual fund

[@basednwhitepilld]

Right and he's got a fair chunk. No excuse for this ignorance when you've got that much in there

[@hirambright9357]

@@basednwhitepilld isn't America great? Anyone can accumulate wealth even if they are not financial experts.

[@basednwhitepilld]

@@hirambright9357 the two things are not mutually exclusive (no pun intended lol)

[@JohnDoe-gc1kt]

@@basednwhitepilld ok genius this stuff is nothing but tax code. It doesn't make him stupid.

[@AdamWatt00]

He literally has no idea what his investments are…..

[@PatriceM14]

Given the fact that houses these days are selling far above their worth and sometimes without inspections, I would just wait and stack my money.

[@stevenporter863]

If you want to do it like Dave said: Rent for a couple years, pay off debt and save as much for down payment (in that order) and don't get into a bidding war.

[@RussellD11]

After wall streets owns 80% of ALL the houses, we will ALL be renters eventually.... Capitalism will destroy us soon....

[@sortathesame8701]

@@RussellD11 If Capitalism is your problem, YOU are doing it wrong! Apparently you haven't got a clue what it costs to live in other countries! We own half of a New Zealand owned company and for a house the same size as our retirement home, even including the jump that the rise in lumber is costing us, you will pay at LEAST three times what we pay in the states. They almost have California or NYC prices! Unless you are on the beach, then it is far more! In most countries you cannot even buy a house the size of US houses, so if you have a few kids, you just cram them in!

[@RussellD11]

@@sortathesame8701 New Zealand is controlled by the same dictator as the USA and their currency is much less then ours so of coarse things are more over there! Greed will destroy us, and the USA is creating it and will take the World down with them... Im talking about Capitalism corruption, CIA drug cartels, WAR Crimes by the USA, Healthcare that is KILLING us for profit, which includes Food and Drugs....Profit is KING in the USA, and fueled by GREED and rouge Capitalism... No one CARES about another human being except themselves! BIG PICTURE BRO.... Im not talking about real estate, Im talking about being slaves, and a debt currency that is worthless.. There is NO Democracy, No Freedom, Its all going away! Unchecked Capitalism Always turns into Communism as history shows, and we are pretty much already there.... New Zealand is awesome btw, I love to snowboard there on the South Island, Its sad they are so influenced by the states, they are pretty much a state of the USA now.....Thats why so many of our rich are buying up land there like crazy!

[@hastycontemplation]

@@RussellD11 this is not capitalism it is fascism

[@blackworldtraveler3711]

@@RussellD11 You have to speak for yourself. I’m apolitical and chose a different route focusing more on myself and wealth taking advantage of opportunities many in the U.S. ignore. Doing fine. Primary and beach home paid for. Zero debt. Even 2020 was a great year for me and able to retire at 50. Heck I own two rentals I paid cash for and rental REITs in my Roth 401k and Roth IRA portfolio getting monthly/quarterly reinvested tax free dividends.

[@joeplem5329]

People paying literally DOUBLE of what these houses are worth in insane...smh

[@samuel.andermatt]

Based on what are these houses only worth half as much?

[@blackworldtraveler3711]

Most are not.

[@OfficialSureFirePlan]

If people are paying it, the house is worth it.

[@neilsmith9066]

people who buy now will be making $$$ in 10 years

[@Corkfish1]

I bought my house during the 1980s real estate bubble and 13 years later it was still worth less than I paid.

[@MsLucky443]

I’ve had buyers remorse. Not worth it for me.

[@mammothorbust]

It’s nuts in Utah. A few months ago I bid $50k above asking price for a duplex listed at $400k, and got outbid by a cash offer. That’s when I decided I was going to sit on the sidelines and wait.

[@HardcoreGamer101508]

I'm in Utah as well. Actively looking out for something, anything. The prices are already inflated as they are. It's insane that there are still bidding wars going on. Lunacy..

[@PatriceM14]

That's probably better for you. Unfortunately, some folks who are outbidding are already regretting their decision.

[@brandonmc01]

Good play

[@american5564]

@@PatriceM14 nah, they just re-list for $50k more than what they paid.

[@tommatthews9341]

Try Magna, or West Ogden! 😉

[@genxx2724]

This is not the time to buy a house.

[@blackworldtraveler3711]

It is where I live regardless of what the media says.

[@MaciasOfficial]

@Austin Duke this gave me anxiety 😟

[@NadyaPena-01]

It is if you are swimming in cash haha 😂

[@harrys5925]

@Austin Duke people are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@nkyryry]

It’s so hilarious how many “listeners” clearly don’t know what he preaches lol

[@nickm9102]

Then there are people like me that know the plan and want to follow it. In my case my bad excuse for not doing it is that I can't figure out how to get my Accounting major wife on board. "Dave Ramsey" became a curse word because of how much I tried to get her involved the first two years.

[@Gregarious3]

@@nickm9102 took the death of our son for my wife to get on board. Life could have been much easier while he was alive.

[@blackworldtraveler3711]

I watch for entertainment. Don’t need financial help.

[@Dagrizzb]

@@Gregarious3 my condolences. Here's to wishing you and yours prosperity in the future. Hope all is well and better.

[@LaCrux]

It’s also hilarious how many people don’t know what they are investing in. How do you not know what is a retirement account and what’s not when your money is in it????????? That tells me you are just putting money in stuff without educating yourself. 🤦‍♂️

[@zacharybohlman4069]

Dude is having the conversation backwards. Trying to pretend he's flush with cash when he's in debt on a truck and trying to use his emergency fund as a house down payment 🤦🏼‍♂️

[@juantorres8401]

I mean they set him out straight and he's still in a pretty good position

[@supermodelatlanta1354]

I know right. Got his socks knocked off 🙃

[@wanefelicia8779]

Story of your avg joe👀

[@Germanicus_Daimetor]

He still has a lot of cash saved up

[@spencerwilson9955]

100% the caller is talking about withdrawing his principle penalty free from his Roth IRA. He is not talking about a non retirement brokerage account. Completely legal. I wonder what Dave would think. Probably a no.

[@saul1629]

I agree. I don’t think the caller was understanding the question. Big no for sure.

[@elizabethblane201]

He would say no.

[@blackworldtraveler3711]

I’ve seen the difference between many that withdrew and borrowed money from their 401k compared to someone like myself that did not withdraw/borrow and allowed to grow through continuous biweekly contributing, dividend/interest compounding,etc. for over 25 years. As a 401k millionaire by 45 and retired debt free at 50 I would say no.

[@elizabethblane201]

@@blackworldtraveler3711 I agree; bad idea to raid the retirement account.

[@jaketyler7088]

When you take out Roth IRA contributions then they are no longer working for you. It's going in the wrong direction for retirement. I'm sure Dave would say this is not what should be done. It's like taking out a second mortgage to pull our home equity that you already put it...it's going in the wrong direction.

[@n1k01k0]

Generally, when buying a house, you can be in a situation where interest rates are low and prices high like now or interest rates higher and prices lower. Of the two, I prefer low pricing and higher interest rate combo because I have more control. If you overpay on a house it takes a while to pay that down assuming you are not sitting on a pile of money. If you are dealing with a higher rate instead, you can put more towards the house whenever possible and have some control over what you pay in interest. Mine is a 30 year mortgage to be paid off in under 10.

[@sunny8254]

Agree. We bought our house in 2012 for $80k with 3.4% interest rate, 30 year loan. We paid it off in 2019. Today it is worth $440k 🙄. Knowing what I paid for it and what I would have to pay to move up in house around here...I can't even fathom life right now.

[@karimbennett5651]

You can also refinance for a lower rate when rates go down again.

[@timetowakeup6302]

@@sunny8254 Whereabouts do you live if you don't mind me asking?

[@sunny8254]

@@timetowakeup6302 Idaho

[@ernestogalvan143]

Generally when buying a house, it’s the current situation and not a situation you want. Interest rates are low and prices are high. Maybe 10 years, prices will be down and rates up. It’s never exactly what you want. People want to know what do now, not what to do when it’s ideal.

[@Ratkill9000]

Not unless you can come up with the difference if the house is valued less by the appraiser.

[@igobybenny]

I see what you’re saying, but even still why over pay just because you can

[@Ratkill9000]

Only pay what you feel it's worth. Don't let emotions guide you.

[@marietaylor5174]

The increase in property taxes this year will be insane.

[@chrisfamos]

Someone’s gotta pay for all the ‘free stuff’

[@sergiopabon1387]

There are maximum caps

[@bradleymaravalli2851]

Yup! But town will say it’s not enough. Ugh 🤦‍♂️

[@swavekbu4959]

Is now a good time to sell a house and buy a new one? My house is probably worth 400k, but it would probably cost me 400k to get into a new one, so what's the point? I'd love to profit on my house though, but the only way I could do it is scaling down into a new house.

[@VGreggUndercover]

She’s my favorite personally! So easy to listen and relate too

[@gcf5434]

I agree .. she's my favourite as well - seems very down-to-earth and friendly.

[@RussellD11]

someone literally just paid $750k for a $500k house on my street...and all the other houses are n the $500k range lol ~ Unless it was cash, I have no clue how it appraised and got a bank loan for that...

[@hall0341]

They don't have to pay cash for the entire thing. They need a down payment large enough to cover the difference of appraisal and sale price.

[@NadyaPena-01]

The inflated prices caused the comps used for appraisal to balloon as well. Comps will be based on the actual price paid for a house so as scary as it sounds, it may very well have appraised for that. For example, if you were to list your own home now, that $750k house will now be used as a comparable for appraising your house. If other homes recently sold for similar values in your area, then they pull your home value into that range as well. Crazy, but that’s how it works.

[@harrys5925]

People are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@MR3DDev]

Why people have so much money saved and still dont pay their car?

[@mxerb5912]

Cuz he making more on the investments than what he pays in interest.

[@MichaelAnderson-wk1no]

@@mxerb5912 He would be able to put even more in those investments if he didn't have a car payment each month.

[@mxerb5912]

@@MichaelAnderson-wk1no I guess you’re forgetting about the time portion of investing

[@LG123ABC]

@@mxerb5912 And you're forgetting about adjusting for RISK. Paying off a debt is a GUARANTEED return.

[@LittleMopeHead]

The people that are buying houses now because "oh it's the right time" are likely the biggest reasons why houses are overpriced!

[@moewilson4605]

Unfortunately, when you desire to be a owner because you have rented for years it is hard to talk someone out of waiting. Combine that with low inventory and low interest rates and boom you have a recipe for overpriced homes.

[@dexterm1285]

The low interest rate is a big part of why prices are going up..cheap money

[@blackworldtraveler3711]

They aren’t overpriced everywhere. That’s an individual thing as well. What’s overpriced to one isn’t overpriced to another especially if it’s with cash and the home they want to just live in and enjoy for years instead of investment.

[@jldude84]

It's gonna be interesting when the stupidity eventually dwarfs the available money and it all collapses.

[@MillionaireMindsetClub]

My friend tried to outbid someone by $50K, he still got outbid by someone else. That's how crazy it is in Texas these days 😅

[@JustAName-it5qp]

I made an offer in San Antonio, over 30k thinking real confident. Found out I was beaten 50k lol

[@labornurse]

@Jonathan nothing is worth that to me, unless it's sitting on a beach in paradise. Move to middle America, and you can buy a castle with that.

[@jordanfoslett4112]

Here In Ontario. Everything is going 100-150k over asking. See a “cheap” 200k house. Goes for almost 400k

[@mmaybee4379]

@Jonathan that’s absolute crazy man, no idea what the younger generation will do for homes. Glad I wasn’t born in Toronto!

[@tiktoktim]

Crazy

[@linuxsurfer2002]

Take it slow - agree with this 100%.

[@andrewde78]

3:40 is when the question starts getting answered…

[@gammayin3245]

Is it true that many of the bidders pumping up real estate prices are investment corporations who are paying cash for the properties?

[@sarahgbadebo9415]

That’s what I have heard

[@dexterm1285]

The rental rates would be way higher than a mortgage...as long as people dont have a down payment but decent income there is money for firms to gobble up homes to rent I guess.

[@rebaparker3714]

It happens but no. Only 25% of homes in America are bought with cash lately

[@harrisonwintergreen1147]

Hi Dave, I'm in a competition with my friends for stupid decisions, and they overpaid for a house so I want to do it too

[@harrys5925]

eople are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@LG123ABC]

@@harrys5925 Why are you spamming the same comment over and over again?

[@kevinhook6000]

If you buy a house without a home inspection, your in crazy buying mode. Paint can and does fool most of us.

[@CycleCruza]

This past summer I won the bidding war on a property with a CASH offer which was significantly less than the other offers. I only paid $3800 over list price!

[@ryanthepianoman27]

Your rich!!

[@mistiinseattle]

When I sold my condo in 2017 I had three offers - I chose the middle one because it was for cash and I wanted it over and done.

[@blackworldtraveler3711]

In 2008 there was a $560k short sale fully remodeled gulf/marina/beach view for $240k on Marco Island. I slammed down cash with additional $30k and knocked everyone out of my way.

[@willjean1614]

I was looking to buy an house this year, I got overbid so many times I decided to seat in the sideline and see what happen

[@TheRYChannel]

Bought my first house in December for $240k. Now it’s worth $260k on all the websites and an NFL team is opening their practice facility within 10 mins of my house in 2023. I didn’t wait for having all the Ramsey boxes checked off, but I think buying a home as soon as I could will make me multiple times my salary in just a few years at which point I will sell and downsize.

[@Aljleanoz]

where are your financial videos?

[@ripwins]

GET OUT OF DEBT🦌🐆🐅🐆🐅

[@RussellD11]

Or NOT..... time will tell ~ but good luck!

[@plascencia248]

You made about $2k once you pay all the seller fees if you were to sell lol. Don’t let the. 20k appreciation fool you

[@TheRYChannel]

@@charliesanders6930 my fridge literally just crapped out and I'm blaming it on you hahaha

[@senecak3558]

Anyone purchasing property right now needs their head examined. Patience is key

[@bass3do]

It's only going to go up

[@senecak3558]

@@bass3do that's what they want you to think. Short term maybe but in a year or so prices will begin to drop

[@ykciR]

I know people who where going to buy a house 2-5 years and waited for them to come down. And look at prices now

[@bass3do]

@@ykciR like I said only going to keep climbing. At least untill inventory gets to normal levels.

[@ykciR]

@@bass3do I’m a small time builder I can only build 3-4 houses a year. IMO. I don’t think inventory will catch up with demand. We don’t have enough construction laborers to catch up. especially in the fields that are super back breaking (framers, roofers, concrete guys)

[@chrisstevens3567]

This ‘cool off’ won’t happen. We don’t have enough housing to constitute a correction. Even if they go into overdrive building - the shortage won’t subside for another 7-10 years.

[@davidheinzmann4403]

I OWN a house in the town I grew up in. my graduation class had 585 people. 40 years later the graduation class has 160 people. Who will be buying the houses 10 years from now?

[@dexterm1285]

Sounds like a pretty dead area.

[@The1JBanks]

Mexicans

[@mriphone1000]

Probably no one, because they won't have the money. Wages haven't changed in decades.

[@greenearthblueskies8556]

@@The1JBanks racist

[@The1JBanks]

@@greenearthblueskies8556 how is that racist? 🤡

[@elizabethblane201]

Like this caller, so many people don't know the difference between the tax status of their money (IRA, Roth, after tax, etc) and their investment vehicles (mutual funds, real estate, annuities, etc.)

[@jaynawilliams6060]

I am seeing houses that sold for $75000 a couple years ago now selling for $135000. It's ridiculous. I am NOT going to buy a $75000 house for $120000 hoping it will got to $130000. I am going to buy a $120000 house for $90000 hoping it will go to $130000.

[@ykciR]

And what makes you think houses are going back down that much?

[@eddietrue421]

Where are these 130k houses? Asking for a "friend" from California 😂😂

[@D.E..]

@@ykciR Because it's a bubble.

[@nonubusiness]

It may be a bubble but shadowstats is showing an actual inflation rate of 10-15%.

[@blackworldtraveler3711]

@@eddietrue421 They are everywhere.

[@Lilbit2215]

Finally a answer I've been waiting for..

[@keithrichardson9127]

Me too

[@harrys5925]

eople are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@bradleymaravalli2851]

Southern Maine. Got outbid after putting an offer that was $55K over asking.

[@JustAName-it5qp]

I'm going through the same in San Antonio. They're raising the already high rent on me when lease is up. I'm definitely looking to buy and use my 100% VA disability to exempt property tax.

[@Llama_vet]

@john Smith he doesn’t need a down payment.

[@TuyetNguyen-pp2ew]

@@Llama_vet VA loans have other fees and not the lowest in interest either. Better to have lower payment with at least 20% down payment. Been there.

[@wanefelicia8779]

🤢 bad move

[@mriphone1000]

They have programs for veterans with no money down.

[@TuyetNguyen-pp2ew]

@@mriphone1000They do but interest can be higher and payment is higher. It's like a trap for people not ready to buy.

[@jacobshaw2991]

DONT BUY A HOME RIGHT NOW

[@TheHoriginal]

Ok 👍. When?

[@harrys5925]

People are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@ScooterCat64]

@@harrys5925 The "bubble" is still here

[@stephencullum8255]

I look at what the property would rent for and run a cash flow analysis. Compare that to what that money could generate in cash if invested conservatively . You can look at historic rent to house values too. Those parameters should keep you out of stupid land.

[@Trumblocity]

I've been outbid more times than I can count in a small town. Gave up and got something in the city before everything went too insane. Now my place has "gone up" in value by 25% in six months. 😄 🤪 It's not a coincidence that the game of Monopoly is based on Real Estate.

[@harrys5925]

eople are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@uberboiz]

@@harrys5925 Not sure what you meant by "the new normal", but if the price increase is mainly driven by external factors like low interest rate and FOMO, it is likely disconnected from the intrinsic value of the house (i.e. overpriced). Just because the bubble hasn't burst yet, doesn't mean there's no bubble.

[@boardguy4075]

His 50k is his contributions to the Roth which he has already paid taxes on and won't be penalized or taxed on... The only penalty is the future value of the 50k and its growth. NEVER TAP INTO ROTH CONTRIBUTIONS OR THE EARNINGS UNTIL RETIRMENT!!!

[@MrDwaynePoff]

My situation would probably blow Ramseys mind... in a bad way🥺

[@bigkieppo]

Call up I wanna hear

[@NeilLemons]

I'm sure he has heard worse.

[@greenearthblueskies8556]

@@bigkieppo or post it 😮

[@cavelleardiel]

Would it also not depend how long you plan on being in the home?

[@alladreamwedreamed]

Caller has no idea what to expect for closing costs, or that he needs some extra to cover a modest appraisal gap. I had saved 60k for down payment and 10k for closing. My actual costs all in at closing was 87k. Oh and then you need another 10K or so in a house repair fund lol.

[@monicaelwood3043]

Yup, closing costs are no joke.

[@cortezandthekillers]

No.

[@miamielite7773]

lets be honest, caller is NOT going to pay off the truck. People do not like to lose the security blanket having savings brings to the mind.

[@fredflinstone9774]

Buying a house is tricky. You need to work with your real state person and your budget!

[@ColdPotato]

Man, we found some land we loved and made an offer around 80% over recent comparative sales. We were shocked with someone came blazing in at 120% over. Had to let that one go away. We could afford it, but were not in the mood for a bidding war.

[@BC-hc5dq]

If you buy a house now you are over paying.

[@Andrew-ro6cr]

No you aren't. It prices only climb.

[@MlgxLegitxSniper]

@@Andrew-ro6cr lol^

[@GYX2021]

@@Andrew-ro6cr I totally agree with you. If you look at other countries with big inflations in the past, The house prices would go double or even triple in 5-10 years. This is just the beginning, But of course a lot of people are in denial.

[@markg999]

Homes only go up in value...sure you can try and time it and there will be some periods prices go down but overall prices only go higher.

[@harrys5925]

People are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@sseraj2898]

And now it just got even crazier !

[@randy944]

at some point there will be a good amount of foreclosures available which will pop the housing bubble. i would wait.

[@jessa9877]

Waiting for it

[@ScooterCat64]

Still happening?

[@Gregarious3]

Bid up my house 20% paid $960k. Has gone up $100k each year we have owned it. I could see the inflation in San Jose, CA coming. Money too cheap and people want to live here.

[@deb9806]

My son wouldn't get in bidding war, his bid was his bid. He did fluctuate few thousand with one owner but ended up letting it go. He finally found one and should close next month. Lost a few not refusing inspections or having cash but you should never say "no inspection". I've heard too many horror stories over the years.

[@kartboarder22g17]

You can pull your Roth contributions at any time penalty free.

[@dabd8175]

If you have to ask.....

[@MsLucky443]

Selling a house is no fun.

[@countrymusic30]

Saw the title and thought, Is this guy for real?, Does he know who he is calling?

[@rls151]

I get the impression he thinks he can withdrawal the non interest portion of his Roth? Or maybe he really does have 50k in non retirement mutual funds

[@theshawnpalmer1326]

The truck part😂😂😂

[@yellowtrain3161]

The problem is nothing is reasonable!!

[@unkownuser5809]

Were already at the top of a huge housing bubble, and you are going to get into a bidding war for a money pit house? This wont end well for you. It always seems people buy houses with their hearts and not their brains.

[@dexterm1285]

Depends on the area...California housing is likely first to pop.

[@harrys5925]

People are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@unkownuser5809]

@@harrys5925 average home cost in Canada and Australia is 520k, and for UK it's 275k, clearly you didn't look self invented stat up before posting.

[@endcronycapitalism1616]

Dave says inflation isn't something to be concerned about LOL!

[@travonius]

I’m curious why it would be good to pay off a car now after the loan structure is signed. He wouldn’t be saving any interest and would only be putting more money into lenders hands since it’s paid now vs future. Am I wrong?

[@bradleyharris9022]

Is big money driving up the price of housing?

[@jonathanshaffer6757]

send a listing price offer along with a love letter, the idiots will sell it to you. Won’t work every time, but it’s better to put down 20-30 offers and get the one sucker, than spend way over trying to outbid blackrock

[@gebhardt2]

Hilarious video. The guy didn't know what money could or should do what.

[@Santaheckler]

And this is why they are called “baby” steps…please follow them IN ORDER and things will work out better.

[@Santaheckler]

@john Smith can’t wait to read your book!

[@sanangelo7926]

If people ever brag about how much extra they are paying then you know its time to not buy it.

[@yellowtrain3161]

Ugh this real estate game is SICKENING!! Keep your money bro, homeownership is no longer the American dream it’s more like a fantasy.

[@kevinromero9223]

I'm convinced some people just call a random number and start talking about finances.

[@gregj1232]

At the beginning, caller mentioned a "previous segment about looking advice", Can anyone tell me what segment that was?

[@gayres3264]

We think housing prices are nationalizing. Similar houses will now bring similar prices regardless of city or state located. This may be due to refugees relocating from cities or blue states. In areas traditionally having "low" prices, the price adjustments may be dramatic. We expect the pricing of California housing to become the national standard.

[@FreedomWealthTV]

Question Dave, you state that this caller must pay off his Truck no matter what. How about if he is paying 1.9% interest or lower? Why hurry up and pay a very low interest debt before buying a house? Doesn't make sense to me.

[@oldtwinsna8347]

Bad advice constantly given on this show. There was a prior episode where a caller casually mentioned a 0% loan and Dave admonished the caller as it was the stupidest thing he ever done in his life.

[@LG123ABC]

@@oldtwinsna8347 Dave's against debt. Why don't you start your own channel?

[@greenearthblueskies8556]

@@LG123ABC He doesn’t have to, hence the comment section...

[@Venezuela305]

Dave preaches that Kids do what Feels Good, but the bottom line answer is basically saying to determine value by Feeling. It's such a contradiction. This is one of those episodes where Dave is giving dangerous advise, because not everyone will understand to read between the lines.

[@justinlawson3493]

2 years later and housing is still insane 😮😳😳

[@MsLucky443]

Discern if I can afford? Also think about the way out.

[@AH-up8zh]

78k down there's no way he can afford to buy a house by Dave's plan of a 15 year mortgage...

[@livingunashamed4869]

In Texas? Thats plenty enough.

[@AH-up8zh]

@@livingunashamed4869 then you don't buy a house... You move to a less expensive state to live in... Just because you can't afford it doesn't mean you get a pass on math!

[@livingunashamed4869]

@@AH-up8zh He can afford it lol. Easily. He makes good money and the mortgage on a 15 won't be that bad with that great downpayment.

[@AH-up8zh]

@@livingunashamed4869 I must have missed how much he makes???

[@AH-up8zh]

@@saulgoodman2018 you're an idiot... I have moved many times

[@AH-up8zh]

5:30 easy answer... No more than $190/ sq ft without a garage and no more than $210/ sq ft with a garage... Also the best way to gage it is no more than 4x your take home income...

[@cynthialeech2507]

Good luck with that easy answer in California!

[@jldude84]

Lol my first home in 2016 I paid ~$65/sqft, and it sold for just over twice that this summer. I can't imagine paying over $125/sqft.

[@AH-up8zh]

@@jldude84 what year state and town???

[@jldude84]

@@AH-up8zh Florida panhandle 20 minutes from the beach, and I already said the year.

[@FJF119]

Zack has the misfortune of not being capable of putting a sentence together .........................

[@annajones9701]

Did Jim rogers call onetime?

[@TheRamseyShow]

Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/3g11A2V

[@reesercliff]

my plan is to rent until my parents pass away then move into their house. Gotta play the long game

[@Corkfish1]

Buy at the top!

[@JoeAyala528]

Sounds like Blackrock!!!

[@bluetexastrucking5232]

I’m NOT buying… wait people 😎

[@harrys5925]

People are saying it’s a “bubble” but this will probably be the new normal. Cause look at places like Canada, uk, Australia.... their average home is around 800k. American has just been behind for a while

[@joshuaharwell3685]

Being debt free, what percentage of my net income is the maximum I should put towards a mortgage?

[@GodHatesXbox]

Dave says 1/4 of your monthly income. I’ve heard 2.5x your yearly salary

[@ozzycelik3120]

I want to call your show how can I do that

[@Elizabeth-yg2mg]

Read the instructions.

[@ayoub_ockk1655]

I outbid 31k over asking and I still got overbid

[@GEAUXFRUGAL]

Renting is going to be a better deal than buying in the bubble it's going to bust and when it does houses are going to be dirt cheap.

[@Eaglejake]

Except with house prices going up, then property taxes, homeowners insurance, etc.......um, you don't think rent is going to skyrocket? Landlords are not in the business of losing money.

[@blackworldtraveler3711]

Maybe a better deal for you. If it’s a home I really want a price increase won’t stop me. Will pay cash as well like before.

[@emmanuelgomez1973]

It won't crash as soon as it does there are many people and companies on the sideline that will scoop them up.

[@GEAUXFRUGAL]

@@emmanuelgomez1973 Always borrow money from a pessimist they never expect to get it back.

[@gregj1232]

"I am looking for advice, solicited, great segment BTW." Can someone mention the segment the caller is referring too. speaking about? Thanks.

[@supermodelatlanta1354]

Did the caller get his call answered? 🤔

[@Elizabeth-yg2mg]

Sort of.

[@travelnurseadventures3225]

Don’t outbid someone, you wouldn’t want someone trying to outbid you with a home-just not ethical-bad karma

[@Waltaere]

Lols that kind’ve advice is what puts families in homeless shelters 😅😂😂😢

[@russlea6383]

If you're buying a house, you might want a 12-month emergency fund to cover structural skeletons in the closet, basement, and attic.

[@Stantep]

Dave’s incorrect about the penalty when it comes to retirement. Currently you can take out money from your retirement fund without penalty as long as it’s towards your home purchase. Cares act

[@elizabethblane201]

Is there a cap on that?

[@TheHoriginal]

Penalties waived but regular income taxes aren’t . They may be deferred but you still have to pay them eventually

[@jldude84]

Well that's interesting...

[@Stantep]

@@TheHoriginal That is correct.

[@betitos11]

I've bought and sold a few houses in the land of stupid and crazy and it made me almost $300k. If inwould have followed thos advise i would have missed out. To each their own 😎

[@SingingBeeize]

Called in to flex 😑

[@bcnkng]

I just bought a house at 19

[@marktheshark2569]

R u serious?

[@jaytee2642]

I hate you. j/k😉 Curious how you acquired the money and where you bought...asking for my younger self.

[@reesercliff]

i just bought my second house and im only 12

[@freshnnewproducts6113]

Where I’m from , you gotta bid for the house, otherwise you won’t get anything.

[@mbyrd6713]

It seems like it would make more sense to rent and wait.

[@freshnnewproducts6113]

Kia828 average rent is over 2k a month it’s nuts

[@toothybj]

This guy seems absolutely clueless about the difference between retirement & non-retirement accounts.

[@demri123]

9:00 idk man, seems like some hyper inflation to me