“What I can afford” when the cheapest house is 300k and the cheapest rent is $1600 we have a problem. Thank God for parents who let us stay at home while working on our school and careers.
@dannyzwolf4546
4 ай бұрын
What I can afford isn’t enough for the land to put a beatup trailer on.
@BlackDub21
4 ай бұрын
Make more money.
@KingOverlord937
4 ай бұрын
@@BlackDub21oh wow, what a real nice idea. Just make more money, I wonder why anyone hasn't thought of that yet.
@thecaveman4383
4 ай бұрын
More like a tent
@horse2483
4 ай бұрын
@@BlackDub21 Literally living in your divorced dad's basement 😂
@BlackDub21
4 ай бұрын
@@horse2483 im actually living with your dad in. He is a good bottom.
@broncobill1104
4 ай бұрын
My biggest problem is how I don't feel they teach this life lesson in at least high school economics very well if at all.. just like how they don't prepare you for the reality of the expense of daycare and raising kids.. it's also changed how corporate America is breaking little guys back by buying up tons of real estate, inflating market for their gain, and keeping the poor guy poor.
@Tammy-iz5rz
Ай бұрын
So true. We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
@Scott-be1cq
4 ай бұрын
Do the numbers, buying a home is not always the right option for everyone. No real estate doesn't always increase in value, particularly if you move every 4 -6 years. Hidden cost can eat all the equity and gains. Just do your research and be careful when you purchase. Don't forget to include your interest paid over the time you owned the home plus any improvements.
@jeremywheeler2122
4 ай бұрын
If I could buy a house over again, I buy the cheapest thing I could possibly find and still survive in. Then pay it off within 5 years, rent it out and move on to another house applying the money to the next house.
@MRtwister88
4 ай бұрын
*4 to 6 years being captioned as **5:56** is next level*
@robertseattle1163
Ай бұрын
Pew pew
@arimaisel3941
4 ай бұрын
Yup, go ahead and take that 8% on that 600K house. Everything is gonna be just fine.
@udaykhatry
4 ай бұрын
When it is not fine, call this dude so he can make some $$$ and help you out.
@carsonc4134
4 ай бұрын
So is it the interest rate or the home price you’re concerned about? Clearly there is an affordability dilemma, but the demographics will continue to show strong demand. So what needs to happen to balance things out?
@Tammy-iz5rz
Ай бұрын
@@carsonc4134Corporations should not own land. Only people have God given property rights, corporations have no rights. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
@tinamama6954
4 ай бұрын
Great advice Wayne ❤❤❤
@deepcow
4 ай бұрын
I’ve been in my home for 32 years.
@deanyoung9214
4 ай бұрын
still in my first house of 33 years and retired early
@Rosalyn-z6t
3 ай бұрын
I'm at 27 yrs and counting!The Lord will!
@TLC717
3 ай бұрын
My parents never moved from the first and only house they bought in 1973. My mom died there in 2016, and sadly, we're not sure if my dad will get to live there anymore, but he's owned that house for 51 years and raised 2 kids there.
@Lss608
Ай бұрын
Gm WT, thank you very much. Have a Beautiful Day
@VicinalElk44104
4 ай бұрын
Lol the market is not gonna crash to a point it is gonna change things that drastically. People said the market was gonna crash 10 times over already, but it still hasnt. The stipulations to why the housing market crashed last time are different than the stipulations we have now. Our market crashed last time due to a stupid idea for a fluid rate mortgage that basically anyone with any credit score could get approved for. It lead to a bunch of people that could afford their houses one year and couldnt the next. This caused the market to crash. Nowadays, people cant afford to buy the houses anyways but its due to a lack of materials to build new houses and repair older houses, so everything is more expensive. Plus, the demand for houses are high right now. The market will go down a little in the future, but it wont crash. And right now, a 2 bedroom apartment in NC is going for about $1600 a month in my area. A mortgage on a 2 bedroom, 1200 square foot house is more than $2k a month. You can preach all day long about by a cheap house and just deal with that until the market crashes, but even cheap houses arent cheap anymore. Cheap houses dont exist anymore.
@carsonc4134
4 ай бұрын
So how does this issue of affordability vs demographics balance out
@VicinalElk44104
4 ай бұрын
@@carsonc4134 we are basically gonna have to wait out pay increases at our jobs to offset the inflation and housing to a point where everything balances back out again, or we will have to get jobs that do pay enough for said housing market for the short term till it does happen across the board. If you look at the housing market crash of 2008, in 2012-2013 the houses were just as expensive as they were in 2008, with the main difference being the interest rates decreasing from 6% in 2008 to just half that in May of 2013. However, this interest change wasn't the only reason people were able to afford houses again. The national average wage increased from $40k to $48k. Most of the increase was due to minimum wage increasing in 2009 as well as a lot of jobs compensating for the higher housing costs with higher starting pay. Companies across the board are starting to do the exact same thing now. Within a year or two, we could be living much more comfortably than we are now even with housing costing similar. That, and waiting on the supply of housing materials to increase and the demand in housing to decrease, and the interest rates will go back down to where they were. Houses will likely be about the same price, but interest will be much better. Long story short, jobs across the board will start paying more as starting rates as well as increasing the pay rates of their experience across the board, on top of that, demand for houses will eventually go down as soon as we get cheaper supplies to build and repair said houses. It won't be like the crash that it was in 2008. It will be more gradual. More like the succeeding years after the crash of 2008 when housing prices went back up but everyone was making enough to pay for them.
@Elsa-qy9hr
4 ай бұрын
My older sister bought a house in 1998 for 20k. The neighborhood was deteriorating. After 18 yrs it was sold for 10k. The neighborhood got better. That same house renovated, sold for 69k in 2022😂
@TLC717
3 ай бұрын
Where is that? You can't get a livable house where I am for under $275k and even double wide mobile homes on land cost that much here in North Georgia.
@tna2me197
4 ай бұрын
First house 13 years. Second and present house 21 years. But first year we lived in a basement apartment. House is paid off. Worth almost 3 times what we paid for it
@Compoundingisking
4 ай бұрын
You really give up gems.
@karensimmons1558
26 күн бұрын
What if you don't have debt?
@arieswaters
4 ай бұрын
Bought my house 25 years ago still here
@Albert-qh6ov
4 ай бұрын
Amen
@Lyudtaru
2 ай бұрын
You "bought" nothing if you have to make payments. You signed up to be a legal slave.
@smotmot
4 ай бұрын
Says the generation that could 100% believe that if you buy a house you will gain equity. Edit: " gain equity before you default"
@TheRealWayneTurner
4 ай бұрын
At no point in history have homes values depreciated and never gone back up
@smotmot
4 ай бұрын
@@TheRealWayneTurner Agreed, I'm a land owner and with ya man but I feel for the later millennials (my generation) and subsequent generations. The entry hazard into property ownership has rarely been higher and default rates are quickly climbing recently. So many of these young adults are either completely disenfranchised with the system or terrified of the ramifications of home ownership in an unstable market. I mean the job market has had some kinda major crash twice in a very short time period and home prices are as you said, only going up. To me that makes them less attainable for the age group that should be focused on starting families or businesses. It's not exactly bad advice, it just doesn't quite cover enough of the story. It's not just "buy what you can afford" it's also "buy what the banks are willing to give loans to you on" and the banks are getting very picky about that if you don't already have long established credit or equity to transfer.
@artiststorytellerdonny
4 ай бұрын
Explain 321 to your payment advice! They don’t get it!
@udaykhatry
4 ай бұрын
This dude: You’re just gonna live in this house for 4-6 years . I need you to retain me as a broker to sell this house after 4 years so I can make more $$ from this house. For you it might be a home for next 4 years but for me it is a product that generates me income every 4-6 years.
Пікірлер: 50