"Rent & Save" - Smart STRATEGIES for Home Buyers Facing 7% Mortgage Rates

Mortgage rates have hit a 14-year high, reaching levels not seen since 2008. Patrick and Tom discuss effective strategies for first-time home buyers to navigate the housing market.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

[@droplix4950]

5 mins of market info and 5 mins of minnect advertisement. Really, its getting out of hand folks. Take it easy on the advertisements

[@gergc4871]

I'm thankful it comes at the end.

[@aezyt]

💯

[@djelite07]

Am I the only one who thinks Minnect is stupid name to call your brand?

[@neoneherefrom5836]

You sound poor

[@williamboyle3268]

What did you expect from a salesman ??? 🤣🤣🤣. You ever see that $20 mill house of his ?? 🤣🤣.

[@25Patman]

Remember they said you will own nothing and like it....seems like their making that actually happen.

[@fishinnewengland4807]

Bingo

[@JordanConley808]

Rent and save? It used to be you buy a home to build wealth. Now it is only for the already wealthy.

[@estebancampos2914]

how can people rent and save if rent in moderate areas is $1,300 and that's low balling it. my home was $500 but went up $200 this year which brings it to $700 which is still half of what some people pay for rent. also this year my car was paid off but now it's value went back up to the sticker price that i paid for it which doubled my car inspection back up to what it was when it was brand new which was $245 for the taxes and inspection. fuc$ biden and his corporate friends for ruining everything.

[@Mac-qi5nz]

Rent is 65% of people's wages at the moment, at a time when people are carrying record amounts of debt. These guys are so out of touch is insulting in the extreme

[@JordanConley808]

@@Mac-qi5nz right. They love some capitalism but are great at showing how it screws us all. So outta touch.

[@xZoogiiee]

PBD lives in the same neighborhood as Messi. Dude is out of touch with the average person

[@HITthegymwithjkhman]

Rent and save😅 that’s an oxymoron in 2024

[@targetegrat]

That 7% rate is for people with excellent credit. So for most people its really about 8.5% or more.

[@Mac-qi5nz]

Rent is 65% of people's wages at the moment, at a time when people are carrying record amounts of debt. These guys are so out of touch is insulting in the extreme

[@miketheyunggod2534]

Still at historic lows.

[@ThomasGLee]

The ONLY reason I would sell now is to get the equity out of my home. Rent is more than my mortgage.

[@Mac-qi5nz]

Rent is 65% of people's wages at the moment, at a time when people are carrying record amounts of debt. These guys are so out of touch is insulting in the extreme

[@ThomasGLee]

@@Mac-qi5nz they live in their bubbles.

[@Qwr345]

@@Mac-qi5nzyes they are out of touch with reality. Nothing but click bait

[@LinoRoberto]

@@Mac-qi5nzthis sounds like a personal problem. Almost nobody is at 65% of their income to pay rent. You need to move out of the luxury apartment. The us average is around 46%

[@joshgolo]

I have never seen where rent is less than a mortgage unless it's government housing

[@TerriMelzer]

We no longer have a mortgage, my husband is retired and wants to travel to Thailand. We don’t splurge, but inflation has hit hard, and I want to relocate while DCA-ing into his TTSA, which is less than $400k. I'm cautious with rising costs and have discouraged the idea due to current insecurities.

[@Kelvin-200]

Roughly how much do you have in the RRSP? A financial advisor can help grow and budget your money for travel. My spouse and I always delegate our excesses.

[@MikeSmith21121]

Hiring a financial advisor means getting help with cash flow, investments, risk management, estate planning, and legacy.

[@VictoriaAllen-ml8kx]

An advisor can help you visualize how your RRSP fits into your overall plan and determine the best investment strategy.

[@TerriMelzer]

The ones I find are young and charge 1%, which I’m not comfortable with.

[@Kelvin-200]

Our FA emphasizes creating "worth-living assets" like memories, pursuing interests, and family trips, while growing finances.

[@word123456789100]

We don't have a shortage of homes. Airbnb and investors have just gobbled them up. Why would you buy now? Home prices are unsustainable. Once commercial real estate pops, then homes will follow.

[@synergygaming65]

The younger viewers should live at home with your parents banking all of your money into safe investments with compound interest that grow exponentially. You pay a small amount of rent, you save the majority of your dollars. If you can never afford a home, at least your retirement account will be jacked to the tits; you can still inherit your parents' property down the road, or that of a relative. Or you can rent and be broke as fuck but at least you'll be 'independent' working until death.

[@HITthegymwithjkhman]

😅 good point

[@wagnersouza4463]

Rent is really bad advice. When you rent, you probably wont save money enough, because if housing prices are high, the rent prices are too. This housing crise,is everywhere. Here in Brazil is the same, but one reason to crisis here, is just because we're copying the american model of urbanism, that is bad. You guys are face a problem that get decades to happen, because your economy growth when this sprawl housing was created. But here, with a weak economy, all the housing changes that you had, are happening in 1 decade. Sprawl neighboorhoods, bangalot housing, and so on, is hapening fast. I saw that one try you have done is two houses per land... well. This is old in Brazil, we call this "puxadinho", families have 2, or 3 houses in land and the sons live in this houses when married ( stay with aprents after 18 here is cultural )...doesn't work. Because the real problem that I see some talking, is buy houses as financial investment, this f*ck the supply.

[@storms4063]

Younger viewers are shamed in America for even suggesting that they live at home with your parents. Stark Emersonian Individualism is the American way. “I did it so why can’t you”. Plus, paying rent to your family with nothing to leverage financially is a huge waste of your money. So, at 46 yrs old & my parents 75 yrs old, I just wait until they die…( my life too will be paying for my family and getting nothing in return except my parents death) Also, how many people want to be with someone who lives with their parents? Come on! Younger viewers ought to learn a trade, because higher education isn’t worth anything…another waste of money. This is what we get when an entire generation is told to go to college or you will be a loser in society. Those doing the best are those who went to work early and worked manual labor jobs. I owned my own business at 20 yrs old. We aren’t building these sensitive generations to do anything that will actually make their lives easier. I’m certain of one thing. My grown children and perhaps their children will benefit from my suffering relationship with my family regarding housing. I love my parents…yet they have no clue how impossible this country has become.

[@richardgibson2158]

"Millennials and Gen z never got it together because they never left the house. Back in my day I paid off my 5b4b house that was $50,000 after three years of being a disposable razor repair man."

[@Mac-qi5nz]

Yeah never start your life. Great advice 👍

[@YautjaTNT]

You people do realize renting doesn't save people money anymore? If you want to save money nowadays you have to live with family who either don't change rent or charge greatly reduced rent.

[@janelleg597]

It does. Get some people together

[@nauxsi]

Renting is helpful when you're young. But as you're close to retirement especially if you were low earner then it can cause problems.

[@lolzorz3]

Now selling luxury card board boxes to live in for those on a budget ;)

[@talyahr3302]

Not sure if this is really advice. With homes & rates being so unaffordable, there is no alternative other than to rent. Thats the problem, not the advised solution.

[@PatrickWilliamShaw]

I agree, but I think their point is to not overextend yourself now.

[@hermesmcclintok]

He's a multi level marketing scammer, he'll probably start offering loans or related products. Viewers are money to this guy.

[@brandonhallam51]

Not their problem though. Your monthly expense is their equity

[@Daniel-po8eb]

@@hermesmcclintok EXACTLY. A snake oil salesman. Always peddling some nonsense to make HIM money. Networking with entities that you don't know and will NEVER be IN FRONT of is ignorant, in an economy where interest rates are UNAFFORDABLE, the dollar has lost 35 % of its value and NO ONE is spending money. More smoke and mirrors, from the 1%. There is zero added value in ANYTHING PBD is peddling.

[@AgentNomikos]

@@hermesmcclintokShow proof if you’re going to make claims like this.. other than that it’s just smoke from a hater

[@PatamaGomutbutra]

Happy renter. Renting a good location apartment help us save considerable money for transportation, maintanance and do debt free asset allocation. It also give valuable peace of mind that we know exact how much to spend and focus on career building. If we buy a house - it will be no matter much about market situation. It will be the first and the last because we have settle down and really afford it.

[@DSNCB919]

I bought today at 6.4% i sold my old home with 145k equity to my next home as well.. was scary as hell but im satisfied 3300 sqft 1.10 acres

[@Jbs6187]

Congrats!

[@Daniel-po8eb]

You can also refi once OBIDUMB loses or dies. OUR business man President will fix most if not all of these issues.

[@DSNCB919]

@@Daniel-po8eb hope so the house i sold was at 3.75% but my family grew by 3 people and it just wasnt cutting it space wise

[@Daniel-po8eb]

@@DSNCB919 It would have made much more sense to add SQ. Footage to your existing home! Once you consider closing costs, ins. property taxes , capital gains, you lost any advantage you worked so diligently for !

[@Richard-qd8tz]

What state are you in?

[@patriot1182]

Money makes money, if you have no money your chances of making money are slim to none! FACT!

[@HITthegymwithjkhman]

🫵🏽 are right

[@meredithdarling]

No choice but to rent here 🤷‍♀️

[@Delta2-4Gaming]

Yeah let’s save and rent. But not eat, drive anywhere, wear clothes or do anything else.

[@asnmdnss]

hopefully everyone is still wearing clothes 😂

[@Mac-qi5nz]

Rent is 65% of people's wages at the moment, at a time when people are carrying record amounts of debt. These guys are so out of touch is insulting in the extreme

[@Mort64562]

Buy a van. Put mattress in the van

[@richardgibson2158]

Yes. Let me rent a 2b2b apartment that went from $750 a month to $3100 a month in my rural small town. Definitely would save more. 😭

[@undefeatedaj]

Only thing I have left to save are my tears and even those will dry up

[@Mac-qi5nz]

Rent is 65% of people's wages at the moment, at a time when people are carrying record amounts of debt. These guys are so out of touch is insulting in the extreme

[@LeileeBaker805]

Save?

[@Jp421JP]

You can’t rent and save. Rent is through the roof.

[@tonyfernandez4189]

How many houses were bought by Black Rock & Vanguard? Methinks there's more going on than meets the eye. It's interesting how covid affected so much of our economy.

[@Swift_Arrow_]

You’re getting engagement through this comment, but screw off with the 5 minute adds extending the video to the all important 10 minute mark. It’s wasting our time.

[@EXQUISITEMAD]

7% intrest rates, 38% real inflation, wages are stagnant for the 9-5 workers. Now put that together with the cost of HOA, Insurance, Taxes, repairs, maintenance, plus car notes, credit cards (the highest credit card debt in history and the highest interest rates ever recorded) 34k average income for women and 45k average income for men living outside of california and the northeast us. Where exactly is it better to buy a single family home?

[@SWAGKINGSBD]

overseas cause America isn’t it anymore

[@adammarshall4576]

Unemployment is up 4.1%!! It’s a lagging indicator! It’s higher

[@jadl3278]

The data they are publishing is false most likely. The lying doesn't stop. Crazy how our country got to this state.

[@Daniel-po8eb]

Cooking the books as usual with this economy. The rates do not and haven't since OBIDUMB came into office, took into consideration the MILLIONS of people that just STOPPED looking for jobs, They ONLY count those on unemployment, yet imbeciles are easy to lead around by their noses.

[@mikecouch2060]

It's only lagging because it hasn't been adjusted yet.

[@XSquidbeatsX]

Even the unemployment stat is a lie. It only shows people who are looking for work.

[@AnAverageFan]

Half of this video is an advertisement

[@TheSurfrer1]

Give me a cave with a campfire!

[@ajanon476]

Earn your own cave, you anti-social socialist 😂😂😂 jk

[@jasonbeasley9774]

Rent is way more than a house payment

[@Daniel-po8eb]

WRONG , Rents dont include maintenance, HO insurance, property taxes , repairs or ANY of the expenses associated with ownership. By the way, it's THAN.

[@jasonleatherwood2172]

Wrong most homes in my area cost about 2500-3000$ a month on a 30 year 3 bed apt is 1700$ with 0 expenses for upkeep and repairs how you figure lol

[@richnubbz4910]

mortgage payment, taxes, hoa fees, maintenance cost ,upgrades and upkeep, capital gains. you should have a large emergency fund, something put away for retirement, and building passive income streams on top of your 9-5+ job. before you even consider purchasing a house never buy with less than 15% down, and plan on living under your cost of living after you acquire and budget for the acquisition and annual cost of ownership. 2007-2015 should have taught anyone over 28yo that things can go south ridiculously fast.

[@PatamaGomutbutra]

It have to compare fairly.For my area -Seattle Two people indeed can live comfortly in 1 bedroom apartment with good facilities in range 1800-2000s USD - there are plenty competed apartments - meanwhile 3500-4000 minthly spending for broken house.

[@jasonbeasley9774]

@@Daniel-po8eb Move somewhere affordable and become skilled at fixing things. Thank you

[@dannypope1860]

Renting is for fools… It’s just throwing money in the garbage.

[@assaultwave86]

I built my 1st home when I was 23, and built 4 in total over 30 years. Today I rent, and I really don't mind. One big reason is that my wife can't spend money on upgrading or replacing expensive items that don't need replacing. I miss ownership, but I also don't. In today's market, I wouldn't buy anything as the values will crash, and then maybe I might jump back in, but I'm still not sure.

[@hersdera]

In my opinion, a 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.

[@SandraDave.]

That’s actually an incentive for them to just stay where they are as long as they can make the payments. They’re stuck of they’re upside down.

[@RaymondKeen.]

You are right! I have 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.

[@HectorWhitney]

[@RaymondKeen.]

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.

[@EddyAgnes-vy4kp]

I just looked up Melissa online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.

[@AntiDecepticonCampaign]

Everyone getting suckered into the Rent game

[@andrewmedlin434]

Rent and Save lmao 😂 good luck

[@gmx5051]

Cali here, rent is even higher then a mortgage, not possible to save.

[@clearviewproducts]

We have a rental. 2 years back potential renters were saying why would i pay that much in rent when i can buy. Now, we as the owners are saying why buy when we can save 2k per month by renting and put that in savings?

[@irenez7439]

Rent in my neighborhood is at over $4,000. How could I save money paying that much money.

[@jpguerra4748]

anybody know where i can buy the polo that pat is wearing?

[@richnubbz4910]

PBD is a vet and will understand this plan..... Retired army, military pension and gi bill starting next year ... Paid off my debt, building a large cash or interest bearing equivalent position, liquidating everything I can, sold everything that depreciates and had a payment, cutting every expense I can.. Going to school in Nevada for welding. I'm buying a small used RV(low int rate, payment and mechanic by training) using BLM land for camping and the College is RV overnight friendly since its rural and students have to travel a lot to get to class. Just building a nice keg of dry powder $$$ for when the Bottom falls out of this bubble .....Plan is to DCA into the markets to a race to the bottom as soon as unemployment tops 4.8, the fed is cutting rates, commercial loan defaults go parabolic, and the markets overall are down 6-12% in a very rapid order. i'll also add in definitly wait out all of these "unrealised losses" becoming realized and "shadow banking / BNPL " entities start popping left and right... You cant take a look around and see how everyone is overleveraged, prices on everything have increased too fast, and the middle and lower classes in this country are being squeezed harder than ever before. something is going to break ..

[@richnubbz4910]

also forgot to add in carefully watching the yield curve inversion and watching it un-invert slowly .... there are a confluence of factors kind of looking to align sometime after august and the new year ..I think all of the elections this year around the world are going to factor into the timing and length of but not the severity of the downturn. its going to be 2020 v shaped, lost decade scenario or more in between (2007-2012)... just too many trusted leading indicators are screaming bad things coming .... along with geopolitical and geofinancial instability once again somethings going to break

[@Daniel-po8eb]

Very cognizant and well thought out. Unfortunately, you are an outlier, MOST of us don't have the base that you had to begin with. I worked my entire career for myself and the last 30 years trying to compete with illegal construction workers who have taught the customer base that the only thing that matters is CHEAP, not quality or longevity has NEVER allowed extra to invest, in anything. Construction wages have NEVER kept up with inflation or rising costs. I did my job for the LOVE of the trade. It paid my bills, I managed to pay cash for my home, cash for a new truck in 21 and I have NO outstanding debts, I owe NOTHING aside from daily living expenses. My minor SS allotment pays all of my expenses and my health ins. and all of my medical needs, which Blessedly are NONE, even at my age, so I am heads and tails better off than most and am thankful for what the Creator has seen fit to bless me with.

[@richnubbz4910]

@@Daniel-po8eb I understand your point of view.. but also like I said PBD is a Veteran and this comment was meant to be a plan of action other veterans can emulate if they are in the right positions... As of September 2023, the U.S. had an estimated 17.9 million veterans, which is about 6.8% of the population age 18 and older. us census data .... so yeah just trying to inspire a pretty beat up and neglected segment of the American population...

[@Daniel-po8eb]

@@richnubbz4910 Excellent point and well taken Sir. My dad and Mom passed away before I turned 16. My Pops was a Korean vet, had two Purple Hearts, and one Silver Star, My uncles on his side were ALL vets, gramps, a WW2 vet. Most of my family served. I had the opportunity through a Congressman friend of my Dad's to attend WP, but when he died My entire life went to shitz in a handbasket. My need to take care of my younger brother outweighed my desire to attend WP. I could NOT change my lot in life but would have made a good soldier. The flag flies high and proud on my piece of ground as it always has, held in unwavering esteem of the sacrifice of ALL of our honored warriors. I believe the Creator has turned his face from this Country over what we have become, and this Country deserves to wither and die for the wrongs we ALLOW to poison us, these days. Men, so much better than I, did the unthinkable and the unimaginable to keep freedom as our creed, to have us turn our backs on them to pander to invaders with NO loyalty to us and people who don't know the difference between men and women and which restroom to use, or which team to join. Perhaps it's not too late for us. We shall see in November if a man who gave up his salary for 4 years can overcome a criminal lifelong politician who gave up our souls for HIS financial gains.

[@MasonArredondo-t4e]

Thats the house on the rod wave album cover

[@Watdamarin]

Short term renting is good BUT long term owning is the way to go IDC what anyone says

[@nateh3441]

I absolutely agree.

[@ericprieto4348]

facts

[@gergc4871]

Rent adds up. I've spent 270k on rent where I live now.

[@Watdamarin]

@@gergc4871 that’s nuts

[@Daniel-po8eb]

@@gergc4871 Compared to what , would you have spent on ownership , with ALL of its expenses?

[@clearmind3022]

See, this is the problem with people in finance. They're always so optimistic because the market. Whether it does good or not directly impacts their financial portfolio, so of course, they're going to be optimistic, not realistic. In reality, markets will not improve. They will continue to inflate until they pop. This is the end of an era. We had a good run while it lasted. But people become spoiled and selfish when things become too easy. I may take their blessings for granted. Unfortunately, you don't realize that until it's ripped from your hand. Make sure you don't hang on too tight. Otherwise, it may take some fingers with it.😊😊

[@jaredsparks5834]

I messed up moved one too many times now i gotta hussle my butt of to catch back up.

[@taraallen6671]

My 800 sq ft apt cost is the same that my brother pays for his 3800sq ft home. It boggles my mind that I can get an apt but not a home

[@Foldylokx]

What's up PBD? Good to see you. Real stuff.

[@dodadeb8954]

When I bought my first house in Dallas metroplex, I locked in fixed at 10% it went up to 12% and the real estate crisis began. 1979

[@jeffwilliams6389]

Its amazing people that bought homes 10+ years ago are in a completely different financial situation than people currently renting or looking to buy. The former have no idea how stressful it is to be the later(me)

[@GetRichEducation]

Mortgages rates are not at record highs. They’re actually lower than their long-term average of 7.7%, per Freddie Mac.

[@Miamimcc]

Only way you’re saving money by renting rn is if you stack multiple people in a rental home. Not to mention landlords almost always figure out how to keep a decent % of your deposit. I would have loved to see y’all add actual numbers to this argument from homes values and rental prices in a similar area.

[@Hendricks777]

I’m currently closing on my first home with my wife, it’s not perfect and needs some work but it’s in a desirable neighborhood. I agree with PBD a lot on this one. Our price was okay and we got a lower interest rate than normal with the VA, we’re just tired of apartments and want our kids to grow up in a home.

[@ElChicoTico]

We need more supply!

[@haydar378]

I am

[@janelleg597]

Yes

[@JC.LC.]

You can't refinance if you buy now, and then prices drop. I don't recommend people to buy right now (unless it is a great deal way below market proce)

[@ryangiese1260]

This all is great but it’s also assuming that rates go down and inventory in the market doesn’t change, that people won’t begin to sell their homes. What will drive the price down is a down tick in rates and uptick in inventory. Rents I imagine are also at an all time high. Grab 5 or 6 roommates in a 2 bedroom apartment in the middle of Nebraska and you can then probably save enough money to buy at some point.

[@keshauncamon580]

So when can we expect the rates and prices to go down? Are we in a bubble waiting to burst?

[@chrissmith-jh8xw]

Always buy when possible because you can refinance and have the write offs. I tested the market and put my home on market, got $1.2M first showing but the rents for comparable home was $6500/month and current mortgage is $2300, decided to pull home off market. Homeownership has too much upside to ignore. Also market is shifting because of the rate drops were not as promised so it will soon be more favorable fo buyers.

[@Maxpierrejr.creative]

Rent and save is hilarious with all these rent prices matching with mortgage payments and some

[@Jacobey22]

5min video and 5min ad 💀

[@sergetinc1344]

If you can buy, BUY! If you have to rent then rent but look for a place where you can afford to save money so you can buy. Home prices are not going to be affordable for a long long time.

[@AbsoluteJ-uu2tz]

I understand everyone’s situation is different but it’s still best to buy. When you rent you “may” get your deposit back but when you buy at least you build equity. Most people have little savings and when you buy you are basically paying yourself for something you will have to pay for regardless.

[@EC-ol8nz]

Easy Fix: If you are a corporate entity you cannot write ✍️ off a non-Homsteaded single or multi family Homes property! 😂😂😂😂😂😂 Watch how many properties hit the the market and the Government can scoop up all the tax sales money 💰 😂

[@emjiel]

i live by myself in an RV and pay 850 a month in California and will buy a house in Mountain House Los Gatos

[@Essentialoils4ujess-weagle]

People need to understand if they refi the clock on the mortgage starts over again. If you refinance keep paying what you’ve been paying otherwise you’ll be paying off your house FOREVER.

[@warrenmccowan5117]

Rent has doubled where I live. I thank God I own my bear up ol house I bought a couple years ago for 25k. Saving up, soon will be tearing it down to build a new one.

[@alex-kv2bh]

Market value is going up but it's cost of goods and materials to rebuild the home not the market value of the home. For ex you could have a 500k home on the beach but cost to rebuild is 250k due to materials not location value

[@Truth24_7]

U guys a bit out of touch with this I’m making 120k a year in NYC I was looking at a apartment just today 2bedroom 3grand a month rent where is the saving for a house at?

[@Chuck68ify]

So, when rates drop people who couldn't move because of high rates will be able to bring more supply to existing inventory.

[@davidwilson1134]

I’ve heard this rent and buy nonsense in 2010. I say buy now with inflation only going to get worse with what you pay today is what a new truck will cost in 20 to 30 years. The value may go down in the short term but historically always goes upwards.

[@donreef2466]

You can't save when rent is as high as mortgages!

[@gundriver6439]

There is a TON of inventory out there.

[@janelleg597]

Not where most people want to go

[@Ravi-rl8tt]

The Fed only pivots when mass layoffs are on the way to try and get a soft landing. But they always pivot too late. Just assume that housing prices are gonna decline at an even more rapid rate for a year or two after they start to pivot. Then again, no one’s gonna buy our debt without high interest rates at this point so idk if they’re even gonna pivot any time soon.

[@bigd2256]

These rates are ridiculous coupled with high prices.

[@fishinnewengland4807]

What do you mean save while renting? Rent is the same as a mortgage now.

[@kanantony4423]

You guys should come see the prices here in Toronto. It's stupid.

[@Daniel-po8eb]

@@kanantony4423 Simple solution, LEAVE Toronto!

[@nauxsi]

Canada is crazy!

[@Sldoficn]

Rent is still more expensive monthly than buying, even with the current interest rate..

[@user-in3le1mg9l]

there has never been a bad time to buy a good home when you actually qualify for the loan.

[@mitchlol5710]

I got married in November and cannot get a single place to rent in a radius of like 40 miles, theres NO options, I live in a 40 year old camper and cant afford a house either.... im stuck

[@bobbleheadbob]

Yes demand for homes will rise as interest rates come down, however this should be temporary as the cost of debt also goes down for developers and builders. Deregulation on some of the green new deal policies can also help speed up construction to grow supply of new homes and eventually meet demand in the market. Right now homes prices are now falling despite rising mortgages rates because the supply of new homes has not been the same since 2020.

[@williambixby3785]

Sell your home/ Lock in a 2 year lease/ take the remaining money and turn it into gold and silver/ at the end of the 2 years you buy whatever home you want outright.

[@1apilot2]

There are a lot of places in the country where supply is going up big time. Like Florida, Texas, Idaho, etc. So that narrative that the lack of supply is driving up prices is not completely accurate. Low supply is a problem in state of New York, for instance. But not in Florida, for the most part.. Low interest rates, low supply, government payouts during covid, and pure emotion caused prices to go up like a rocket.. Different story now. The local area must be able to support the housing via their incomes. This is a fundamental. Right now, in many "boom towns" the locals are not able to own a house because their income is too low. And many that do own a home, those who bought in last couple of years, are maxed out on credit and losing jobs. I think housing prices have to come down and in many places are coming down. Not wise to buy a house now unless a really good deal, a diamond in the rough.

[@sergetinc1344]

Homes will never come down. They will stay constant or go up. Places like Florida will see an increase again when rates go down.

[@1apilot2]

@@sergetinc1344 kzbin.info/www/bejne/aKqspqR9ltBrmacsi=5Bbi0rK6Nl3ZQqJG

[@UtubeH8tr]

5.2% locked in boys Who here bought the dip?

[@benf4570]

People move too often so the landlord raises rent each time

[@garymcelhaney1560]

This show would be so much better if it was just Pat and Tom

[@mattacosta4802]

What these guys missed**** is INDUSTRIAL real estate. Going to be a 400% increase. Using up labor and materials. PRICES are NOT coming down people. 💯💯

[@rbtheballer]

Cost more to buy right now then rent, better to live below your means save and invest until the market flips.

[@alelectric2767]

This is all good until your rent goes through the roof. Then what? Why pay someone else’s mortgage

[@youdub7926]

Tom trying to predict rates year from now is hilarious

[@markphillips9822]

My job is so unstable I cannot buy a house. If we loose a contract I'm out of a job. And I don't need a house around my neck. So I rent until I retire. Then buy a house with cash.

[@mkowalik92]

Minnects Minnects Minnects!!!

[@nauxsi]

Rent should be limited to 30% of median salary of a city.

[@cindylepley2099]

My daughter’s little family can’t find a place to rent. As soon as they find out about one it gets rented.

[@vladimirnaumovski987]

What city?

[@krystal6612]

It SUCKs INWANT TO BUY A HOUSE SO BAD BUT I CANT AFFORD IT… WITH PRICES IN OREGON AND INTEREST RATES ITS CRAZY… I PAY 2K for a 2 bed 2 bath 😮

[@coreyg367]

People pay for premium KZbin so they don't have to listen to ads and then you advertise the hell out of minect 🤦‍♂️

[@elliottharris9015]

Renting, along with taxes, eat's up your paycheck.

[@zetagundam20x]

Stick to renting, make money by job hopping, save and invest, and still enjoy the fruits of life. Until you’re married and have kids, stick with renting.

[@OzSpud72]

The mortgage interest rates are heading towards the 1990s when it was 17% so get ready all you lovely homeowners. Do the repayment calculations on your mortgage loan at 17% , result is how much it is going to hurt the family budget. 🥵🥴😵😭🤬☠

[@shaylaahava6413]

Rent qualification requirement is that you have to make 3x the rental amount in order to even qualify for most rental properties!!! So if most consumers have high debt to income ratio and low credit scores on top of that, will they even be able to qualify to rent?.... Is the system giving enough breaks to the People?

[@jre2775]

We need to stop talking socioeconomics with such broad generalizations. Is owning better than renting? It depends where you are in life. I’m 29 with no kids and a good job. Renting a 1:1 apartment allows me to travel and save money at the same time. My rent covers the residence itself, taxes, maintenance, valet trash, security, a gym and other amenities. If ANYTHING breaks it’s repaired for free within a day or two. I’m living well, saving money, and building a strong retirement portfolio. If I had a family it might make more sense to buy a home because the cost of rent would be more comparable to what you’d pay for a mortgage. The problem with all these videos is you guys sit there and generalize when everyone’s life is different. I believe hard work, common sense and living below your means are the best ways to build wealth. And anyone giving you advice without knowing your situation is selling you something.

[@MasterHalochief23]

I have been renting for over twenty years and still no go

[@jmzz4mrlz597]

Be really conservative on this times, control ur emotions or feelings. It’s crazy how the housing market it’s right now.

[@jamesgaffney7591]

Tom. Renting is putting off for the time when the home price is even higher. And will cost you more $$ Too many people saying wait for prices to drop. Not happening to tue effect of being a benefit. We are 4 million short homes to buyer body count. Also last 12 elections 7 followed with small rate hikes. 4 with small rate reductions. 1 stayed level. Waiting for greener pastures is a waste of time -rates drop , prices and demand go up.

[@naomihazelton9789]

Hey Mr. PBD! I hope you know if you wrote a book or did a youtube channel about raising your kids and being a parent I would watch it all the time! I really hope that I raise children as well as you are doing Mr. PBD! But I really need someway to see how to do that.