6 Beliefs About Owning a Home That ARE PLAIN WRONG! 

I agree, life was so much more safer and peaceful in the 1960's and 1970's ;0

Red herring of a statement.

Many things have changed since then. 1960 the population was 150 million. The Eisenhower freeway system had just been initiated 4 years prior. Before this people were confined to cities and the immediate surrounding suburbs. There was no such thing as a drivers commuter suburb. Land to build was infinite but wasn’t accessible until the major highway building project was underway. 90% of people were married and stayed married. Today many more people are single therefore needing individual housing units. These tide changes coupled with 200 million more people has made the United States far more expensive for housing but we still are way behind Europe and Asia in terms of affordable housing. People don’t have to like it but it’s only going to get worse. By 2035 it is estimated that 60% of women 25-45 will be single. The demand will only continue to grow. Illegals will continue to pour over the border and they highly value home ownership and will work multiple jobs and live multi generational to do so.

Seems bloodsuckers are making many deservably irate people????

Isn’t it sad that everything is drastically unattainable vs one upon a time absolutely posssible for anybody with some effort. Blows my mind America sets up for fail for us. Upsetting at best really

It's called the State of Misery for a reason, lol!

Past nine years I’ve had no repairs. This winter I will be replacing my evaporator coil for my HVAC for $450 and that will be my first repair. Not a single appliance has failed.

Problem with that is camping ain’t what it was pre covid. Now camp sites are 100$ a night and hard to find sometimes.

HOA??? haha what a scam that is. Only a sucker would buy into a hoa

For sure I feel like if you can’t put 20% down it’s just as good to rent usually

Ive owned homes in Europe and America - I rented them out - never again - sold the lot - renters are a pain - some dont pay - others call the cops if you ask them for rent - then I had a pastor rent from me and she had her congregation harass me because I wouldn't sell the property to her at the price she wanted- then in Europe the housing association placed the dumpster on the side of my property

HOA a tenant will pay for.

Simple solutions 1.20% down no pmi 2. Don’t use an FHA loan 3. Don’t buy in an HOA development.

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Makes my 6% rate seem low.

Yes but in a decade that 2700$ property you are renting you will be paying 6k a month for. You also cannot write off rent. If rates are 8% you are going to get a significant portion of that back at the end of the year.

@@Coffeendonuts yes. The person they are renting from can sell or die, and the new owner can double or triple the rent.

@@Coffeendonuts Not true. To get a tax right off on the interest you would have to do itemized taxes and 88% of people do not itemize their taxes because the standard deduction is more. So for most people you will not write it off.

How does the owner make any money renting to you for $2700 while he pays $5000??? Oh wait, you missed something there... his costs didn't go up like that. Nor will yours.

Buy when it makes sense. when the payment is less than your rent it is an easy decision. Also people that bought with FHA 3 % down can streamline refinance without appraisal. so if you buy with a high rate and you bought FHA no need to worry if the housing price goes down FHA has streamline. Still not a good time to buy right now but if the payment makes sense. it can be OK.

Actually the inflation may be 5%. But there is another in the equation that dictates prices on all goods…. The devaluation of our currency. Printing trillions since Biden has lowered what the dollar is worth. You’re seeing that factor at the register.

@@user-fy4lv6mf5n that is what causes inflation, printing money out of thin air, you cant counterfiet real gold and silver.

Gas is up 100%. It was 2$ a gallon in January 2021 when Biden came in.

Add a zero

Totally..

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@@Lisithedogwalker I Just wanted to say I love your style. Wish I could get my wife to were sun dresses lol. You guys rock..

Agreed. It makes absolutely no sense for housing to be an appreciating asset.

They depreciate. But, the land appreciates.

Thanks dear Laura! Enjoy your weekend!😎❤️😘

SO true espcailly today with igh prices and high interest rates and high Homeowner's insurance in southern states , people are so gullible FOMO kills you. People do the same thing with the stock market .

Rent always goes up. Fixed rate mortgage will stay the same and property taxes at least in California are not going up more than 2%/year

If you are looking at today then yes renting would be cheaper. However a paid off home has a pretty fixed cost. Taxes and Insurance do go up but at a much lower rate as rent. So 10 years from now that home you bought will be cheaper than rent. Of course it is also not that simple, because if you took the money you put in your home and invested it you might be better off. But as a kid that had to move several times growing up when my parents couldn't make the rent, I prefer having a paid off home.

@cbrox1986 I was on that bandwagon until I started seeing my insurance premiums double this year. Making my mortgage payment jump $400 a month which is about 20% from last year. That being said would still rather own then rent personally.

@paulconner4614 taxes, yeah. I'm no longer convinced that at least living in Florida insurance increases less than rent. Insurance was a big factor on why I sold my rental. I didn't think I could keep the rent competitive and not have to absorb the increase from insurance without having to absorb some of the cost.

That is not the only value of owning a home. When renting you have to deal with rent going up every year far higher than a mortgage will. And when the house is paid off you will find no where cheaper to rent than owning.

Is this guy retired ?

❤❤❤

I’ve called them vampires for as long as I can remember.

Right back at youuu!!!🤍🤍🤍🤍😘

Yeah you go live somewhere with cops paid like that. Try...Baltimore........smdh

Same for sheriffs!

Where the hell did you come up with that number ?

@@cyrusm3391 huh

@@pdkraceBy the time you include pensions and insurance benefits, he’s close.

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Really? How about property taxes? Maintenance? Insurance if you can get it? That new roof that's gonna cost 20K or more to keep insured. Been there, done that. Downsized a couple of years ago. I'll happily pay rent

20k ? What house you put a roof on ? 😂😂😂 i am 28 and I own my home left to me from my father who is now diseased and I am blessed to have a home even though I am working on it and it needs alot more work but I am handy on both house and cars so I fear not a challenge and I have a few friends who can help. Thank god I have no children yet but I am glad at this moment! Maintenance is a lot simpler than most ppl think !

@@priinceanthonykoldd7071 You're absolutely correct, most things that go wrong in your house you can easily fix yourself. I won't go on a roof anymore so I'll have to pay for a new roof eventually but installing dishwashers, garbage disposals, toilets, sinks, minor electrical (don't mess with the panel), plumbing, appliances and even cleaning your chimney can all easily be done yourself. The roof and big tree removal are the only things I'll never touch.

Wise decision.

You just never own the house

Property taxes go up significantly in California depending on the location. I don't mean depending on the city or town i mean within the same small town or city certain municipal locations when new construction is in progress. Then that in turn makes near by existing homes property taxes increase. I sold one of my homes because of that. Property taxes made my home go from $1590 mo. To $2290 in one year. Fixed interest. Property taxes were $7,000 annually for a 270k home.

@@mikieemiike3979 There are no $270,000 houses in Los Angeles. Prop 13 has been the law for decades in California and it keeps property taxes from going up much. New construction is irrelevant. Where is this house you say you own?

@@chrislastnam6822 You don't know how to read, apparently.

@@mikieemiike3979not in California. Your tax on a $270k property will be about. $3k a year. Then increased by 2% a year. What you claim isn’t true. If your neighbor redevelops it doesn’t mean your tax basis will go up more than 2%.

@@mikieemiike3979 Some people disagree which is why I graduated from a top ten law school and attended a U.S. med school.

It’s a nice thought, but health and love doesn’t put food on your he table or give anyone shelter. In fact, the “health” part actually cripples people financially with medical bills. I say all of this not to be contentious. I just disagree that health and love is not enough in reality. Perhaps we should dream for more.

Okay, so terminal cancer is no big deal. Powerball is the gift.@@KnoTasItSeams

90% of the world's millionaires 0:01 made their wealth in real estate , not T bills lol. Glad you're happy wirh your below real inflation, taxable t bills though.

For the past nine years I have had no maintenance costs for my home. I will be replacing my evaporator coil for my HVAC system for $450.

And you better pray they all pay their rent or you are screw! CD rates are high enough when it pay out close to collecting rent but without all the maintenance to keep up. That’s why I told my friend to sell their place instead of renting it out

@@dazzz887 I am not sure about that I know a few here that bought 3-4 houses next to each other for $100k-175k total for the group(they made three such deals this year) and rents each of the houses between $800-1300.

I am French Born and a US citizen, I am an immigrant and came here legally. I do not support illegal immigration at all. I do not care about what is happening in their countries, Come legally, like I did and many people are. Been leaving in LA for 40 years, and Miami for a 10 years (Bi-coastal, but I also leave in Europe) , both have become extremely expensive for the middle class. Florida been worse then CA, regardless of what people are stating. I own many properties in various countries, But this year I sold my home in Mougins and purchased a new home in Nice, France cash, The price was 2.8 million Euros, my property taxes are only 4.4K per month. The insurance is also much lower then anywhere in the US, not only CA or Florida. The US has become a swamp of illegal aliens. They get free housing, 1 dollar properties, and our taxes are paying for all their expenses, when the US citizen get a big fat 0.00. And get unaffordable real estate. In CA I never remember anybody been able to buy a property with less then 20% down and less after the crash in 2007. I owned 37 properties in different countries and I have now basically liquidated all my properties in FL (6 of them), Still have one more to sale in Miami, will sale when moving our of FL> and only keeping one in Newport beach, CA. All this repairs mentioned sound ridiculous to me, never had all does repairs at all. Yes sometimes is an appliance to be replaced but in general never replaced any for over 10 years. Now last week the insurance company raised my insurance premium form 457K a year to 1.45 million a year for one of my hotel, now I am dumping my 2 hotels in Florida as well.

I paid off my house about 8 years ago and promptly put $30k in upkeep I was putting off. ( I got cancer about the same time). Biggest was a new steel roof to cover the 100 year old asbestos slate that was up there forever. We were able to cash flow it all.

These people aren't planning long term. You lock in your mortgage now and then get it paid off in 15-20 years and then it becomes a whole lot cheaper than renting even a trashy 1 bedroom.