Should We Sell Before House Prices Go Down?

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17 июл 2022

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Комментарии : 523

@daveavemian5940 2 года назад

going from 900 a month in mortgage to 2500 a month in rent is complete and utter insanity. This guy makes a lot of money and he has a very cheap mortgage payment. He should be able to be totally debt free in a couple years

@anthonylowry9690 2 года назад

Yeah, the appreciation on top of paying off your mortgage is another savings acct. There’s many more options than selling. He can rent out his house in the future and make a nice chunk of change. If he wants he can even throw it at the mortgage and pay it off faster

@chuckmay6563 2 года назад

He should be able to pay off his land in two years, while making his regular mortgage payment on his house. Then, he could pay off his mortgage in the next two years, build his new house, then sell his old house and pay off his construction loan with the sale proceeds from his old house. How does someone make that much money, and yet not see how simple it is to keep his cheap "rent" while building equity in his home?

@tylerspoelma997 2 года назад

Agreed! That’s over $50k he would save in three years to put into building the new house on the property. I wish I had that situation.

@leathelandlady 2 года назад

He's also assuming that rent is going to stay $2,500 and it probably will not.

@bangladeshirealtor Год назад

it’s not insanity …lol he can’t access the equity on the property without a sale or borrowing on it ….either increases his house costs ….his goal is to pay off the new house that he’s building within a reasonable time ….that can’t be possible without tapping into the equity

@sniping12 2 года назад

This honestly proves that just because someone makes good money doesn’t mean they make good decisions.

@nowandthennn 2 года назад

Or that they feel secure .

@I_like_turtles_67 2 года назад

Bruh. For real lol.

@austintomkewitz3981 2 года назад

Not really because with houses you have to buy another one so when prices are high downsize when prices are low upsize

@ThatPitGuy 2 года назад

Seems to be very common on this show.

@lorraineowens9547 Год назад

My spouse. 😞

@joeriveracomedy 2 года назад

Mark is the kind of guy who trades his best player in fantasy football just because everyone else in the league is making trades

@davidbrown2625 2 года назад

Bring in the 4.5m defender who scores a goal first game of the season but never scores again after that 😂

@mranderson8725 2 года назад

😂

@t3morga 2 года назад

😂😂

@allenmenefield4560 2 года назад

YES! 😂

@andrewparry7300 2 года назад

@@davidbrown2625 wrong football 🤣

@nodsib 2 года назад

Yeah no. My parents did this… in 2010. Prices bounced back up to level from before GFC, and they thought it was going to crash again. They ended up selling their house for $500k, renting for almost 10 years because for sure the crash is coming, then gave up and bought a small apartment with what they had left. Their old house is now worth $1.5m.

@mjj8560 5 месяцев назад

Did they cry ???

@ganymedehedgehog371 5 месяцев назад

Yeah people shouldn’t be playing “buy low sell high” for something as important as a house.

@dw309 2 года назад

Some people have it all and it’s just still not enough for them. 230k a year salary and you can’t pay off your debts?

@OTOWN2STOCKTOWN 2 года назад

...or the income is inflated in his mind

@Swoliosis1 2 года назад

He sounds stupid... wonder how he makes that money?

@cambrie7946 2 года назад

@@OTOWN2STOCKTOWN Yep, or he's flat out fibbing

@TheKeyMaker 2 года назад

Ya 900/mnth is an 80-100k $ house. Not buyin it.

@annasimons389 2 года назад

@@TheKeyMaker it depends on how much they put down

@JoeBidenIsAClown 2 года назад

We just paid our house off and are now completely debt free.

@davidh4921 2 года назад

Congrats! must be a great feeling

@kbanghart 2 года назад

Except for taxes, maintenance and utilities.

@JoeBidenIsAClown 2 года назад

@@kbanghartThose are just like death.

@kbanghart 2 года назад

@@JoeBidenIsAClown yes, well you can adjust them somewhat. Unlike death which as far as I know is just death LOL

@tompain2751 2 года назад

@@kbanghart Cheaper than rent, and gives you net worth.

@tylersanders2388 2 года назад

$900 a month? In Nashville he’s paying over double that in rent easily that just goes out the window. This is just his mental need to want things paid off and irrational fear that suddenly his house won’t be valuable

@jayumble8390 2 года назад

I totally agree Tyler.

@eckankar7756 2 года назад

His mind is blocked in fear of losing out. He doesn't see what he has, he sees what he might lose

@matthewgardner2144 2 года назад

He's very low-information and emotional, which is a terrible combination.

@mikewright2858 2 года назад

He has 300k in equity? If it went down short-term it wouldn't be nearly that much.

@charlesg7926 2 года назад

It’s like the story about killing the goose that laid the golden eggs. You don’t want to do that, because then you lose all the future income (cashflow) from it

@txlespaul30 2 года назад

The thing is, house prices were so inflated here in Houston that the house prices actually are starting to come down. 10- 15K at a time, multiple times on the same house I've seen it in the past two months.

@supermills03 Год назад

Yeah but if interest rates go back down a bit those values will shoot right back up 10-15k. I think some of those price cuts are people being spooked, especially new builds.

@aguyandhiscomputer 2 года назад

I make $230k-250k.... Click, next caller

@ryankiel4895 5 месяцев назад

Great comment! This guy doesn't even sound intelligent enough to make that amount of money. Somebody is overpaying him for sure.

@BigMichael78 15 дней назад

@@ryankiel4895 Maybe he knows some high-ranking Democrats.

@tylerspoelma997 2 года назад

Not paying 2500 a month versus 900 a month for three to four years is a big difference as well.

@ameegrant6055 2 года назад

The total of Land payment and mortgage maybe $2,500 . He needs an accountant or financial consultant to help him manage his expenses.

@victors16811 2 года назад

$900 month and making ~200 why you’re worried about DUDE!!

@matt75hooper 2 года назад

Typical Dave caller. He needs zero help. $20K a month lol. What a slug.

@jt411 2 года назад

I need to find out what this guy does for a living, because if he can be this clueless and make that kind of money I want to work in his field

@ryankiel4895 5 месяцев назад

He sure does not sound like the sharpest tool in the shed.

@jameskroeger1436 2 года назад

Dave said not to base decisions off emotion but off of data. I’d love to know what data there is that says housing prices will continue to increase. As far as I can tell, demand has fallen off a cliff, so logically prices would follow.

@livinginoklahomacityofficial 2 года назад

This is absolutely not true, literally anywhere.

@scottjohnson921 2 года назад

@@livinginoklahomacityofficial prices are dropping, number of listings are increasing.

@27pugsly 2 года назад

Interest rates are high and so are prices of homes no one is buying plus high inflation!

@PhoKingWay 2 года назад

@@livinginoklahomacityofficial are you living under a rock? It's clear as day.. at least 30 percent of listings in my area have had price cuts. Same with just about everywhere.. how more obvious can it get?

@billaroundtheglobe 2 года назад

@@livinginoklahomacityofficial What are you talking about? Prices in my neighborhood went from around $270k six months ago and are now down to $220k.

@daveblackman816 2 года назад

Keep the house. It’s an asset. Plus with the cheap payment, and nice income, just double the mortgage payment. Throw an extra 900 bucks in principe every month.

@eckankar7756 2 года назад

Absolutely. I'd sell the land. With skilled craftsmen now retired and quality challenged workers on the job site, poor supply chain availability, builders lacking integrity, infrastructure issues, I'd rather have an older quality built home than a new home with all the possibilities of everything issue that could go wrong with new building today.

@genxx2724 2 года назад

@@eckankar7756 My parents just built a house. My mom has a lot of experience in this. She said if she knew how frustrating this project was going to be, she wouldn’t have done it. Nothing went right. Quality workers don’t exist anymore. Nobody cares.

@eckankar7756 2 года назад

@@genxx2724 My old neighbors moved into a newly built community, beautiful homes but the walls are seriously coming apart, huge cracks in the ceiling and the foundation crumbles in my fingers. They didn't mix the concrete correctly, not just their house but many others, too. The builder is disappearing and not responding. They own a $700K play set.

@genxx2724 2 года назад

@@eckankar7756 Unbelievable. Everything in my parents’ house has gone wrong and had to be done twice. The appliances are all built to fail in a short time, too. My mom asked the appliance repairman what brands are best. He said they’re all junk, so just buy what you think looks nice, because it doesn’t matter.

@eckankar7756 2 года назад

@@genxx2724 I'm hearing that, I have a newer gas stove, the knobs are plastic and break easily on the hot metal. Replacement knobs are $145. each. I have removed them all and replaced with small monkey wrenches to use. When I do sell I'll replace the plastic knobs for the new owner. You're right, there is no more pride in brand names. I think they are all built at the same factory.

@mhsuitor2009 2 года назад

If it’s a big piece of land. Sell the house. Pay off the land. Buy a used mobile home or an travel trailer. Park it on the land until your home is built.

@niceguydmm 2 года назад

Don't tell Dave that!! He hates any manufactured home!

@evalina98000 2 года назад

"Call me & I'll buy ur house" 🤣 Uncle Dave willing to put his 💵 where his mouth is. Take him up on his offer. 🤛🏽

@elizabethblane201 Год назад

The caller won't want to sell because the house will be down 30%.

@jamesdean6744 2 года назад

Dave also had the same attitude before the 2008 crash. This crash is much more than just a housing/lending issue.

@ThreePuttBogeys88 2 года назад

Did he? Can you show some proof?

@stevexspeed7649 2 года назад

Yea show me a clip him saying that

@eckankar7756 2 года назад

I made a FORTUNE during the crash.

@matthewconaway3510 2 года назад

Price cuts galore. I love it, need more opportunity for first time home buyers. Prices have to rerate to higher mortgage rates.

@richardramfire3971 2 года назад

It’s only good if you don’t need a mortgage

@jonathantaylor6926 2 года назад

Or if you have big down payment.

@richardramfire3971 2 года назад

@@jonathantaylor6926 agree big down payment would be second best

@linofernandez4457 2 года назад

@@richardramfire3971 nah, you wont over pay for a house, those that bought in the past couple months will be upside down

@BPoweredLove 2 года назад

Some good points in this thread. Yes, we need the asset price to come down and higher rates help that, THEN once they're back down to earth (relatively speaking), if rates come back down somewhat as well, then we're in good shape. Otherwise yeah, the price correction won't help the average person as much as they think it might.

@jasongaines7284 2 года назад

You make 250k a year, you owe 200k on your mortgage and 200k on your land. Easy put all your cash in your home and pay it off. Rent it out and have that revenue pay for your rent while building/paying on your land. With that income both can be paid off in six to eight years.

@kstar1956 2 года назад

Now this makes the most sense!

@CalebBaleFinance 2 года назад

Dave's "I would just plow through this land" was a classic pun.

@David-wo9un 2 года назад

The absolute best duo on the Ramsey team; so thrilled to see these two together more often.

@ImDahDude 2 года назад

Love how she calls out Dave

@sjf4405 2 года назад

George and Rachel duo is also great.

@qrcodeguy5669 Год назад

I think they may be dating

@edgarc407 2 года назад

$900/month is dirt cheap holy..

@aolvaar8792 2 года назад

$350/mo PITI is dirt cheap, $50K Fannie Mae Foreclosure in 2011

@carlostosado8965 2 года назад

Mine is 866 with taxes will never sell. I might rent it out and buy a new one!

@chuckdameron5626 2 года назад

He makes 200 grand a year his house should have been paid for long time a go unless he spends a lot of money on stuff

@TheEthan3037 2 года назад

Not with a very low interest rate.

@andrewparry7300 2 года назад

A lot of factors - State income tax, kids, etc. I make a good salary but pay a lot of income tax and have four hungry kids. $250k in one state without kids is a whole different salary than $250k in another with multiple kids

@DrewLeyMusic 2 года назад

People always calling for a housing crash will be right one day, but it could be 10-20 years from now. There’s still too much demand for housing in most areas 🏡

@pfeiffdog0811 2 года назад

Tell that to all the recently laid off mortgage originators across the industry

@kyleinpa5285 2 года назад

Demand will fall and supply is increasing. Econ 101, as Dave likes to say

@agr-tech 2 года назад

@@pfeiffdog0811 they are getting laid off because people are not refinancing and sales are slowing not because of a crash.. supply is not there to meet demand today so sales are falling back to a normal rate from a crazy rate

@mylesgray3470 2 года назад

There is a lot of demand but when prices and interest rates make home ownership mathematically impossible for most first time buyers to afford, demand will fall and its happing right now.

@LJKEIL 2 года назад

😂😂😂

@richardk.mallard3533 Год назад

We work for years to have , $1million while some people I know put thousand of dollars in some meme coins and they are millionaires.

@carolm.anders3501 Год назад

Life is so precious, when you know you own a property or an investment to always keep you on go..I have no regrets starting my journey in cryptocurrency.

@johno2277 2 года назад

“It’s noteworthy,” said Jordan Levine, chief economist at the California Assn. of Realtors. “Prices are going to go down. The statewide median price to fall 7.1% compared with this year,"

@johno2277 2 года назад

@HELLUR Of course objective people acknowledge that there are pockets that will rise through this interest rate rise. A few weeks ago, Dave said that "prices will not fall and will actually continue to rise" as a blanket statement for the whole country. He advised the caller to buy because his home value will increase. I demonstrated that sales prices have already fallen in a county in the CA Bay Area from April to present. Crickets from the Ramsey Cultists.

@johno2277 2 года назад

Re-listen to his messages, it's strongly implied that "everywhere, housing will go up in value." So, be a fool. What is the point of listening to Dave if anything he says is both right and wrong at the same time? The weatherman says it will snow tomorrow, somewhere on the planet. Yay, he's right everyday.

@joshw7415 2 года назад

It’s California…people are leaving there in droves.

@donthitsnoozeagain330 2 года назад

Paid off my home but there are still expenses (taxes and insurance); loving these appraisals and offers to buy but holding…. Rent is crazy Texas

@screwdriver_bandit 2 года назад

You could show this guy his own paystubs and he’d still be unsure about it.

@iron5917 2 года назад

Me and my wife are finally on baby step 7. I’ve have tried to help others, but I believe I want them succeed more than they want.

@truthseeker6370 2 года назад

Even If house prices fall...you're still only paying $900/mo vs $2500/mo to rent for 3-4 years! Now add up that additional $1600 per mo in rent over 3-4 YEARS! That's A LOT more than you'd lose IF your current home value were to dip slightly.

@jordyvonarb8075 2 года назад

Just rent your house for $2500 a month. Buy a trailer. Live on you land. Pay it off. Then begin your building process. All while making an extra 2500 minus your 900 mortgage. And continuing to build equity in it. Maybe then you can sell you house and build your new house completely debt free. Land and home. All while maximizing your profit from your current home. Only downside is living in a nice trailer on your property for a while.

@1TashaLynn 2 года назад

Mark just sell..... Thats really what u want to do.... U make 20 k a month ur not in no loosing situation

@jimmymcgill6778 2 года назад

Rent would be way more than mortgage. He's willing to spend an extra 1.5k to rent?

@mikem9612 2 года назад

People who do that probably listened to other RU-vidrs screaming the sky is falling. They probably own homes telling others to rent.

@Buggu3 Год назад

Rachel is the only one that can stand up to Dave 🤣🤣🤣I just love it wen she’s there

@markpallotto3164 2 года назад

You can sell all you want. However, where do you go from there. You could rent, but everything is high. It also matters how young or old you are. If you’re older, maybe you should cash in. But if you’re young, just stay. There is no one size fits all. Weigh your options carefully.

@cutehumor 2 года назад

A neighbor down the street had his house new listed on 6/23 for $969k. It was reduced every two weeks. Today, 7/18, it is listed at $799k. $170k drop in less than a month!! We are in south nashville near Dave. lolololo

@SoTrue144 2 года назад

Listing price is not a good indicator

@krassimirpetrov7131 2 года назад

Win !

@cutehumor 2 года назад

@@SoTrue144 I have another neighbor on the other side of the street under contract under a week for $859k. I looked at the pics of the house not selling. it needs kitchen/bathroom remodel.. it's clean though

@eurekahope5310 2 года назад

Home prices in our area are dropping precipitously, too. While this could be the late summer cool, the drop is greater than yearly data would suggest.

@paulinoaz 2 года назад

If I have a house that is valued at 500k but I list it at 650k and it does not sell so I lower it down to 500k over two months, that does not mean the value has come down. The value was always 500k, I was just trying to get more. Just like Rachel said "Houses are going back to what they actually are valued at"

@notanomad9320 2 года назад

I can see house prices coming down with rising interest rates and if we get a serious recession next year.

@karmasutra4774 Год назад

I hope so.. want to buy a new property and waiting for this to happen

@jessicabixler1658 2 года назад

"I'm rich and don't know what to do with all my extra money"

@joejohn. 2 года назад

He had to throw in that additional "I make 20k/month" in case we weren't sure that it would cover $900/mo housing.

@pfeiffdog0811 2 года назад

Here to hear Dave say that prices won’t decrease even though in some places it’s already started.

@ImDahDude 2 года назад

Very true

@mylesgray3470 2 года назад

$50k off for new houses In Utah right now.

@jclrg7 Год назад

@@mylesgray3470 nope, no way. House prices will never and have never gone down so you’re just wrong. Don’t believe those price cuts people are seeing everyday right now

@tabbycat8511 Год назад

@@mylesgray3470 That’s 50K off a very inflated price far above area norms. No discount - just a return to normal.

@ubwaterman 2 года назад

We Love this! father and daughter great team. Love watching you two together. Love this question.

@garydubs251 2 года назад

I would of loved if Dave made him an offer on his house.

@user-wc2ho7im7j 2 года назад

Mortgage rates increase are making him think real estate prices will go down.

@tugboat2030 2 года назад

"Quick! We gotta upend our lives for a 10% decrease in house prices!"

@tjlift22 2 года назад

Just pay $2500 a month toward your mortgage. Dude if your house goes down 10% your still up 90%. Chill dude and keep everyone house the bank will loan you

@njfinests 2 года назад

The best time to maximize housing values is when interest rates are low. That's when your house, is worth the most money!!! You've missed the boat when rates start to rise. Rates are rising, so you've missed the boat!!!

@aguyandhiscomputer 2 года назад

OHHH MYYY GOSHHHHH!!!!!!!!!

@davidbrown2625 2 года назад

People still need a roof over their heads so it's still better to buy now rather than waiting cus interests rates are lower now Vs in the future

@jameswalker5645 2 года назад

I would keep it because his mortgage is very low, and even if property values do drop they won't stay down forever Especially around Nashville because a lot of people are moving there..

@eckankar7756 2 года назад

I agree

@heslind 2 года назад

100k price drop on a listing near me. Extreme, yes but a bit eye opening.

@RussellD11 2 года назад

90% of my real estate friends said the SAME THING in 2008, and I was RIGHT... and i bought my house back for 25 cents on the dollar lol

@berkunis 2 года назад

What did you say and what did they say?

@wantitwrite 2 года назад

This is NOT 2008

@tabbycat8511 Год назад

And why were all those houses available for 25 cents on the dollar? Because the suckers sold them.

@RussellD11 Год назад

@@tabbycat8511 Foreclosures bro, Banks will sell at 25 C to the dollar as it wasnt real money to them...

@WilliamZ429 4 месяца назад

I pray he kept that home. $900 a month is gone from nashville tn, even for a shack of a shoe is 1500.

@ViralRivers 2 года назад

House prices are already going down where they saw the most appreciation

@justinbieber12373 2 года назад

How can these two say prices are not going down when they are actually GOING DOWN. 🤔

@rjmurray5128 2 года назад

He's bringing in 250K a year he could pay off the land in less than a year, eat chicken not steak then, Dave's right stay in the house for a fraction of what it would cost to rent, Nashville is no longer just Music City, its also a tech hub. Relax dude your house will hold value and increase within the next 2-3 years.

@pinayinuk 2 года назад

Nice advice

@gohardorgohome2938 2 года назад

Just put 5k or more a month towards the land. Get it paid off. If you do lose your job 900 is easier to accumulate than 2500 fs

@JA-re8gi 2 года назад

"Home prices never go down!" -Dave Ramsey

@canadianjatti 2 года назад

this is true. they might temporarily but hold on and it will go back up

@joejohn. 2 года назад

They *usually* don't. Then again, they *usually* track closely with inflation and not increase >40% in under two years. Hoomers are way more accepting of improbable upside swings than they are any downside ones. The only way they could fathom median prices dropping 10-15% would be if there was absolute widespread economic collapse.

@FinesseTheTrader 2 года назад

Everything is artificially inflated this would be the best time to sell your home because we are heading towards deflation within five years. If your gut is telling you to sell then sell.

@kirapoodle 2 года назад

Does it even matter if the house goes down in value (short term) if he stays in it long term? He is paying less than what he would pay renting.

@eckankar7756 2 года назад

I bought my first house at 14% interest and was thrilled to get it that low at the time. I got the house for half price by buying it a year before construction was starting. It was a risk but I took it and it paid off. Nearly 50 years later I'm still in that house that cost me $27K and now worth $500k. I bought a few others, too, at that time. Don't jump ship on short term fluctuations. Think where will you be in 10 or 20 years.

@cdav6915 2 года назад

Boomer out of touch with reality.

@truckingmoney485 2 года назад

Boomer dropping facts

@eckankar7756 2 года назад

@@cdav6915 Boomer that was a hairdresser, became a millionaire by age 45. I'll stay 'out of touch' by your standard.

@heslind 2 года назад

@@cdav6915 lol why do they all use the “back in my day my rate was…” line. They don’t get it!

@cdav6915 2 года назад

Trucking Money nice comeback boomer.

@petercyr3508 2 года назад

Too late. 200k mortgage and $900 payment!!!??

@supermills03 Год назад

A good rationale for this guy might be if he could start building at the right time and get cheaper materials instead of waiting and having trouble selling his house, and only able to sell it once things like building materials go back up, but even then it's hard to say how much he could save in the long run.

@maximusdecimusmeridius5438 2 года назад

20k a month he isn't hurting

@aguyandhiscomputer 2 года назад

Exactly. Pointless call

@KevinNordstrom 2 года назад

Well deserved income I'd say.

@xdmatt1320 2 года назад

I suppose you could always sell and then pull a camper on the land till the house was built then no 2500 Rent

@singlecellorganism13 2 года назад

I'm holding onto my first house to make it into a rental rather than sell.. otherwise, I'd sell.

@eckankar7756 2 года назад

I still own my first house I bought nearly 50 years ago. Sedona, Az for $27K. back then.

@RickM23 2 года назад

Yes sir! Real estate is the best investment. You can rent it out, renters pay the mortgage and you earn extra 200-300 per month (this should be your target on top of mortgage).

@2009zachman 2 года назад

I am currently doing the same thing. It is tempting to sell and get all that cash, but I know long term it is better to keep it as a rental.

@tabbycat8511 Год назад

That is almost always a mistake. Ask 100 financial advisors “Should I keep my highly-appreciated home as a rental?” Not a one would say yes. Most homes don’t make suitable rentals.

@Dan51320 2 года назад

THEY'RE ALREADY GOING DOWN why are they still telling people this

@alexclosson4341 2 года назад

If I offer you a $1 apple for $10, you don't buy it, so I lower my offer to $8, that doesn't mean apple prices are going down.

@Dan51320 2 года назад

@@alexclosson4341 $10 -> $8. Thats exactly what it means. Something's worth whatever someone wants to pay for it....

@ds3602 2 года назад

@@alexclosson4341 if tons of other people bought $10 apples, then find themselves upside down in apples… That could cascade

@jimmymcgill6778 2 года назад

@@alexclosson4341 If they were selling for $10, and now selling for $8. Than they are going down.

@phantomfpss 2 года назад

Overpriced homes are just Cooling down to where they should be....

@scottjohnson921 2 года назад

230K income?? Dude, live on 40K and pay everything else on your loans. If you are worried, sell the vacant land. you need a place to live.

@philipwindowcleaner Год назад

Smart guy. Like how he thinks things through

@tabbycat8511 Год назад

Not.

@oldfordman68 2 года назад

If you can afford $2500 a month rent throw it at the house soon you will be debt free and how it feels with no house payments

@frankymacf Год назад

1:30 This guy said his income is “230 to 250”. We all assumed he meant 230k per annum but listening to the conversation suggests it’s actually $230 per week

@noahglenn8305 2 года назад

He could just rent the house and rake in cash- he is so emotionally invested in following the herd and panic selling he can’t see reason- or he isn’t telling the whole story

@why6212 2 года назад

Loss aversion will do some strange stuff to people

@elchapojr6219 2 года назад

People are always fearing the uncertainty

@asnboy1084 2 года назад

I would sell, he doubled his investment on his home and wants to lock that in. Nothing wrong with locking in profits and being debt free.

@dmbotero Год назад

The caller is right. I’ll come back to watch this video in 2023

@mylife1909 2 года назад

I would sell as well. Interest rates are going up. And less people can afford 500k-1m kind of home. Our friends did the same thing here in Washington state and now they are debt free. They are living in rent and building their next home and if rent gets to expensive they always have an option on getting a travel trailer or a 5th wheel and living on the land until they are done building.

@adamseidel9780 2 года назад

So they aren’t debt free, now they have a locked in housing expense that only goes up. Very dumb.

@ykciR 2 года назад

Unless they plan on doing a lot of work on their build. It’s going to be more expensive to build a house.

@jordandowland7256 2 года назад

There are too many illegally parked travel trailers and RVs in Washington state just “living on the land.” I see them every day, and I live in a small town in eastern WA!

@teenyverse7707 2 года назад

Wait, what? I rather pay a $900 mortgage payment than a rental at $2300.

@jayb.8460 7 месяцев назад

I'm wanting to sell I can rent in my moms acre lot for $200 a month for a year and with the equity from the sale I can buy and pay cash for the land and a big tiny home cash and still have a fully funded emergency fund.i also make 60k a year with no kids. So I care more about space than right next door to my loud ass brat neighbors kids .

@doubleaz1234 2 года назад

Makes me sad that it won't go down.

@jvogt4643 2 года назад

I’m in Virginia and the prices are going down already

@snobbybeauty2210 4 месяца назад

I honestly think his smart.. with the housing market crash that is coming, might be difficult to sell it for 500k or even sell it period. His thinking is logical. I would sell the house.. pay the land (seems like wheres the land is located is his best place of choice) rent for a while and pay cash to build a brand new house on the land. Also: in 2024, No debt is a good debt.. not even a house. If you owe money, you’re at risk. PERIOD!

@binabenz1 2 года назад

They need data and a reason🤔 prices are falling across the country like hot cakes . I hope this gentleman sells it!

@elchapojr6219 2 года назад

You know how many people from California are trying to move to Tennessee Nashville!!! A lot

@ddavis8866 2 года назад

He could double or triple the $900 and pay the home off in a few yrs 100% equity. Housing will never go back to what it is but it wont be overpriced either. He could also double the pmts on the land and pay the land off. Still be payin 900 on the home vs paying someone rent for $2500.

@carolanderson2773 2 года назад

The houses online are dropping like a rock.

@hankwells2637 2 года назад

It would make it so simple, Yeah the big companies make renting easy so you don't notice you are wasting money. Land and a house will always be worth something, losing 30k in value due to higher interest rates on a piece of land or house is one year of rent in Nashville.

@thesmartbudgetchannel2940 2 года назад

This guy makes anywhere from 230k to 250 k follow the baby steps pay down your debt. He acts like he works at McDonald's.

@chrishere4272 Год назад

Building a home is outrageously expensive right now. You will lose money. Stay in your $900 month house. Sell the land before you sell your home.

@jeffb.4800 2 года назад

A month ago I nearly bought a condo that was listed at 300k. I offered 260k and the sellers countered at 270k. They bought that condo for 200k in 2020. With interest rates so high and HOA fees, my monthly margin would have been too thin.

@ds3602 2 года назад

I see a lot of the same.. it’s impossible to pull the trigger on something like that without feeling like an absolute fool

@everstormz 2 года назад

Despite what people say, Condos are almost always terrible investments.

@adamseidel9780 2 года назад

And some of the people in this thread would look at this and say SEE, PRICE IS DOWN $30k, REAL ESTATE IS CRASHING!!

@jeffb.4800 2 года назад

I'm 36. Single and tired of renting. And it was a really nice condo which is rare in my area.

@jeffb.4800 2 года назад

My rent is 1470 and the mortgage payment (hoa included) was going to be 2260.

@republicunited2183 Год назад

HIs home payment is $900 mo, keep the house. Sell some of the land.

@Mrbr00ks74 2 года назад

Why not take the difference between rent ($2300) and his current house payment ($900) and use that difference to pay principal only payments on the land?

@ws775 2 года назад

Sell before prices drop. Then live on the streets or in a camper. Then buy a house.

@bluemoon8498 11 месяцев назад

Guy makin 20k a month cant do basic math. Must be working for government😂

@Myraisins1 2 года назад

Dude, don't sell. Rent your house for income when you move.

@blakegarritson1056 2 года назад

Dave will buy your house... get that on paper!!

@calstanke6170 2 года назад

08:50 ... hope that is a legally binding offer.

@AdamGbl95 2 года назад

I say keep the house another 3yr then sell it. You can buy investment properties in other cities below the median, cash flow them, and watch then go up in value also.

@fastandpray3158 2 года назад

Question: would u have the amount to fully complete building on the land? If not then, don’t sell!!

@Megans358 Год назад

And house prices HAVE dropped, especially where he’s at in Nashville. As of today they’re down 10% and climbing. He should’ve sold. All around the country inventory is skyrocketing and prices are plummeting.

@termitez97 2 года назад

Pay the house off (1st year), pay the land off (2nd year), then build on the land once construction and material costs come down (3rd year).

@caseymyhro3769 2 года назад

Some people just need reassurance.

@No_life_haha 2 года назад

I get paid 30 bucks an hour to stock grocery store shelves!!

@bradtaylor6139 2 года назад

He bought a piece of land? He obviously wants to move onto the land lol. Let the man rent if he wants to while he builds his next house. No biggie, i dont get this show sometimes. If he does stay in his house and it loses 100k of value he will be feeling pretty dumb for buying land at an expensive rate but selling his home at a cheap one!!! If his home goes up at least his new land might go up also.