You're Too Broke To Buy This House! (You Don't Have Any Money!) 

Hold!!!!!

I’ve never seen John this angry. Wow. Yeah not a smart idea.

Hahaha

@@Elyzbet I did this exact laugh reading that 😂

And stop laughing about being in this bad situation. Who does she think she is? Kamala Harris??

And SOOO impressed with herself as she talked on and on unnecessarily.

I know omg I was rolling my eyes while listening lol blah blah blah

🤣😂😂

You win!

😭😭😭😭

😂

I'm watching this in the shower and woke my gf up laughing so hard lol

She spent a LOT of time trying to sound impressive….

She talked about everything EXCEPT the pertinent information.

This comment is brutally (and hilariously) true.

I wouldn’t hire this person for 135K! Not even half of that.

Ohhhh definitely.. just like waffle waffle blahhh blahhh come on lady… edit yourself… 🙄🙄 even Dave said he got a bit lost!! Haaaa “just stop a sec I don’t want to hear all that…” 👍👏👏👏 ohh poor Dave!!! Phew

@Austin Duke then I would buy a house within their realistic price range.

@Austin Duke If the house is unaffordable, the future might be pretty dark.

@Austin Duke your house isn't going to pay you to live when you retire

@Austin Duke you have your whole life to buy a cheaper house than this lady does.

@@FrankS111 home prices keep rising. There isn’t a realistic price range anymore lol

I remember that episode. It still guides me to this day.

@@susanner35 I can’t stand when people put down renting. Do what is best for your situation, weight the pros/cons of renting and homeownership. There are people who are financially independent and who love to rent. There is no one size fits all solution

@@tyrecarmon20 yeah me too. I love my tenants.

It's great advice so long as it doesn't make you complacent to rent. People will think "I'm not ready" until they reach their deathbed

@@bsolutions525 me too 🤣🤣🤣

No kidding - that’s about 45% of her take home (assuming she did a 30 year). Would be closer to 65% on a 15. Crazy stupid

That monthly mortgage payment is going to be no joke.

I don't think the bank is going to give the full mortage required. Then she's on the hook for the remainder, which she cannot achieve even with selling all these 27 different accounts she has money in. Or maybe she can cover it with equity from her previous house.

Exactly

This is why I’m in no rush to buy a home YET. I can get a $200k-$300k home here and that’s all I’ll need.

What do you do

Lol same here

What job do you have?

bless you for thinking like that.

Agree 100%. Mindset is on point.

😂

That's a great way of putting it! It's tough in the moment but I like to look at experiences with the mindset of 'who knows what is good and what is bad'

Internal locus control is always a great attribute. Change the blame game, to self accountability. Humble pie is not tasty, but it’s extremely beneficial for growth.

It is!

Absolutely...the Universe reveals the path if we are willing to see it.

​@eckankar7756 ...no...the universe is not a conscious agent...it has no thoughts or intentions and does not give direction...

Are you single?...... Lol

I'm with you! We live in a paid for house about the size of yours! So much easier to keep and clean a small house!

@@droolalot5795 see what mentality is that. What is the difference between him having a girl or not. So you're saying if he had a girl that makes it ok to have a big payment...

Shacks sells at crazy prices now

It's called "ego".

This is a fair point. She has all that Roth and 401k at 28 and on 130k. She should be a millionaire by 58 if she keeps up. The house is probably an excitement though. And she didn't mention if she has kids or not. So for the short term, she doesn't even need that house.

Yes I pointed out in another comment that she technically could have liquidated all that and afforded a nice down payment plus EF on a lower priced house. The problem is not that she can’t afford a house but she can’t afford this one.

She should never consider retirement accounts as a source for funds. The second you consider pulling funds from a retirement account and ruining your future is when u cannot afford the home.

@@fireseeker4him Virginia is expensive

@@Lianne459 yes I know. I used to live in MD. You can get a decent-sized house in Arlington for a lot less than $750k.

Caller: *Tells life story* Dave: What's your household income?

I think he was spacing out. I almost stopped the video.

She was all over the place

This one is a Rambling champion!

He zoned out for sure hahaha

World full of that Kara !

Common sense is not common. It's an oxymoron

Why is she in a hurry to buy if she only has 10% and thinking of taking a 401k loan? She is on the road to being house poor.

There's no "but" in that sentence. It's "therefore".

You are exactly right - earlier this morning was the Tesla chic and her PhD husband

Most children would be easier to listen to, and make more sense than this twit.

I’ve come to realize that sooooooo many people around this age refuse to grow up. That 25+ crew. I met a guy that was established in his career and making darn good money say he missed college. Now he’s a professional with a party addiction. What gets me is the ones that refuse to grow up BUT they still make kids. If you’re going to be a grown child then please don’t bring and actual innocent child into this mess.

@@purrfectnails2473 women are extremely immature on the whole until about 27-28

I think she _is_ doing everything right, except for the house. She has squirreled away a lot of wealth for a 28 year old, but she just bought too much of a house. The fact that she's saved so much makes me think she does that the discipline to delay gratification when it comes to tous. She should have gone with a $200K house.

@@stephenshelton4267 she lives in Arlington, VA. You’re not getting a $200K house anywhere within 2-3 hours from Arlington 😂. Now that’s not saying that she couldn’t have gotten something much cheaper than she did, but $200K won’t happen around here. We moved an hour+ outside of the Arlington area and pretty much it only gets as cheap as $350K for an old house.

@@DaddyMaverik This is true! My mother lives in Arlington and her condo is not far from the Potomac and I know she’s dropping close to $4k. It’s a beautiful view, don’t get me wrong, but sheesh!

@@stephenshelton4267 She has barely saved anything. When I was at her age making the same money I already had $1.5 million in the bank. She has practically only saved $5k to $10k per year...

You have nasty heart. She may be misguided but that doesn't mean she won't figure things out later on.

Ha !

Houses are at their lowest point in 30 hrs, wym?

Maybe. But I don’t know if anyone really knows if housing is inflated or if it’s going to continue to go up...

@@thestockfother at highest price of all time though

@@caliopeknows844 tell that to 2008

Caller: I make 130k Dave: you're broke Homeless guy: 😑

correct plus homes cost money to maintain not just the payment

with her parents asking for that money

LOL, and still very impressed with herself.

@@JustinCase780 and apparently the parents have offered to help... this is the parenting that is raising this brat into what she is today. Now she’s handed over to society to deal with. “Hey everyone, it’s your problem now!”

@@AaBbCcDdEeF she called them immediately after getting off the call...well actually not until after first hitting Starbucks for some eight dollar concoction

Lol 😂

Or furniture and appliances lol. Going to be a very poor experience for her.

Or utilities

Or property taxes.

@@michaelfjmusic exactly, even more of a problem

And the interest she is paying.

Absolutely, wouldn't doubt it.

😂🤣

😆

i-understood-that-reference.gif

😂🤚

130k is a lot

​@@thegamingfox2533 Yes, and 750k is almost 6x of 130k! It's insane.

I was shocked when Dave kind of glossed over that part. His cohost sure caught it though. That amount of house on that income is way out of whack.

130k income for 750k house seems OK to me. Provided the person can make a good down payment, has an emergency fund, and their income is stable and is expected to grow higher over time. Plenty of people making $40-50k/yr buy $250-300k houses which is the same ratio. You notice Dave is not worried about her income they’re worried about her lack of financial preparedness and organization in making the purchase in the first place.

​@thegamingfox2533 I make 150k base salary + 60k stock units and I bought a 400k house and that was towards the upper end of my budget

Probably why she is cashing out her 401k to buy a house. Lol

Because it makes for good ratings....we all stayed through the call because we couldn’t believe how dumb she is and how Dave would react. We wanted to keep listening!

The way she rambles on and on, is a reflection of how she lives her life - scattered and chaotic.

I can’t stand him for some reason, he always is lost for words for someone with a phd and he always looks to Dave to bail him out lol, Dave gives better advice than John

Depends on the advice. Isn't John more about psychology?

@@wanga220 That’s no accident. Does anything about Dave strike you as him being someone who would bring on air a sidekick that steals his thunder?

🤣🤣🤣 I got anxiety from this caller.

@@wanga220 John's own show is SO insightful and helpful. He's very intelligent IMO

You are absolutely right. Buying a house is one thing. The upkeep, utilities, & repairs are an entirely different thing. I feel like there should be another baby step when buying a home...."house emergency fund" or just a "house fund"

I always keep in mind the age of things such as A/C unit, hot water heater, roof, etc bc I know one day I’m going to have to shell out some good money for one of those

Yup just bought a home too, and even though I had an emergency fund all got wiped off within the first month of moving in to replace what was needed. If you are already having trouble coming up with the down payment, DONT buy a home. They’re expensive

And the property tax on that house is going to be at least 7k a year.

@@katewarner1623 I didn’t catch where she was from if she mentioned it but a home here in north NJ could easily be $20k in property taxes for a $750k home.

0.25% increase in mortgage rate = 10% in down payment at my CU

Parents should teach her some life skills by not lending or giving her money.

all bs

Exactly what I thought ! OMG girl, slow down and pls educate yourself. PLEASE !!!!!

@Paul Schwartz That's it but I never heard the term . So, I googled it, of course !

Big time. She sounds like she flexes this banter at weekend brunches without respect to a financial reality

Shes not broke at all

@@kadedah2077 I don't think anyone that she was broke. Just that she could be a little wiser w/ what she does have. I guess that would apply to all of us. At least me, anyways !

She definitely has student loans I’m sure

Dave went bankrupt making bad real estate deals, now he makes millions advising people. Dave has some of the worst real estate advice ever.

This lady

Somebody in Arlington, VA. They all do it. Meanwhile, she could have bought a nice house just a bit further out for half as much.

Somebody with wealthy parents who will step in and fix it.

🧐…An imbecile…😏she crazy

Lots

Yeah, I think that's what she said...going to be big time house poor.

I cannot imagine what the tax and insurance would be on that house!

Add taxes... add insurance... and as you mentioned PMI... on 30 year (2800 plus big property taxes, PMI and insurance) she's going to be up over 4k on bringing home 6.7k after taxes. 15 year? That probably exceeds take-home.

Isn’t that like close to average income to house ratio ? Average income is like what ? 50k ? Average house cost is around 200k ? It’s 4x deal. She’s doing a 5x thing. Not the WORST case.

She wants a masion

Dave must have been in a good mood that day. Lol

They probably needed a break after this call.

Shes a first time caller

I lost track after about 10 seconds of her talking

I think that someone making 130 that has to cash out stock In order to get to any money is bad. She should have money in the bank

No..she's buying WWAAAYYYYYY too much house

But she has no money though. If you’re making 130k and only have 14.5k in the bank while trying to buy a house of 750k, you essentially have no money. And that’s not taking into account taxes.

@Magnus Red 130k at 28 years old is low income?

@@johnnybravo2926 with a 5-7k per month (depending on taxes) mortgage it is

There is nothing with "landscaping" that you have to do. Is there a sink hole in your front yard? Lol

She is going to be house poor.

In arlington itd be hard to do better

Did I hear wrong..she said she is making is 130k?!!!

That’s not that out of line even Dave said so

@@yoopally4136 So, don't buy in Arlington.

I thought the same thing!

I think she said it's $760K, and even if she scraped $100K to put down, she is still looking at what, at least $3200 a month (with taxes and insurance) on a 30 year fixed mortgage. They didn't even address that, she can't afford it even if she closes and does have an "emergency fund". I feel that is massive even with a $130K salary.

@@DustinRGreen-ww4og it’s plain stupid. She’s gonna lose that home if she ends up buying it

@@DustinRGreen-ww4og The question is will the house increase beyond 760k? what about remodeling the house in 20 years? maintenance costs over the years ? 20k in taxes that will increase? 130k is net or gross? what if you lose your job? the future is bleak

She is barely trying to scratching up $100K and that is only 13% downpayment. The sad thing is that she hasn't realized that she still has to pay PMI since she is under 20% downpayment. She is in for a rude awakening when she hasn't factored in any PMI, HOA dues and Property taxes payments.

I was thinking the same. Maybe not quite a million, but this house is clearly more than she needs. It’s a huge WANT.

That is a necessity 💯

Yeah, I did it all backwards, but I worked in construction for a few years, so I'm not scared to take the whole house apart and remake it, if necessary. I got rid of knob and tube, reversed a kitchen, got rid of a lot of plaster and lathe. I was even unemployed twice for almost a year each time. But I have been eliminating debt and have paid more than the minimum payment almost every time. I also discovered I was improperly included in a special levee for lakeside properties, so my taxes have actually gone down from what I was initially paying. I'm sure that will catch up, soon. I'm in a lot better shape, financially, than when I started.

I calculated that it would be about half of her net income, including insurance and property taxes and that’s a 30 year loan with 10 percent down. So, she would be left with about 4K/month and zero savings or retirement.

I live in the DMV area and yes! It is all about the image here. That is why people live above their means.

They will be living on social insecurity...

It’s better to be low on money when you’re young. Don’t blow it and end up old and broke.

Yes, but you shouldn't excuse stupidity.

The thing is, for lenders, a 401k loan is totally acceptable for a down payment. They do verify that you have the funds, including whatever is in your 401k. As long as the money is there in the accounts, that is all the proof they need.

No that’s on the mortgage broker….when she applies for a loan….realtor has nothing to do down payment money ect….

Wish I had them LO

Fr 😂

And a new fence, after a storm blows your fence over. And a new air conditioner. And 100 other things. I felt like my house was eating me alive. You reminded me why I like renting.

How much is a house insurance nowadays in virginia? Doesnt that cover the maintenance?

Same, I was floored listening to this!

Lol, it would have been funnier if Dave did it. I’m still not sure if this John guy actually knows anything about money.

It sounded like Marlon Brando in Godfather "No Money'.. 😂

It's funny cause he is usually way more diplomatic than Dave, but even he is shook about the stupidity.

Maybe it’s regional but I don’t know anyone making six figures who wants a McMansion.

Truth, NoVA housing is a lot of garish McMansions, I rememeber being grossed out seeing that when Ilived there.

And you found one, or?

🤣🤣

Bruh this☠☠☠

yeah I bet you are 100% right, she regrets calling in, but doesn't regret buying that house!

I regret her calling in. The giggling and the "shouldn't have bought this house...ok, hahaha" Shes gonna do what she wants when she hangs up. Waste of time. Good for listeners I guess but it was doomed from the beginning.

@Town Crazy have fun paying 20k in taxes on a 760k home. lol

My house worth a million here in Florida. Taxes about 10k..

@@patrickchilds5486 It depends where you live. I've seen insane taxes on homes

Garbage fees? Is that a thing??

@@euenfheiejrj yes. My parents had a home in upstate NY and you had to pay to have your garbage picked up. If not you had to drive it to the dump which wasn’t close and had certain days/hrs open

For the future cash

Dumb but that’s a very average house in Arlington

Agreed! That is insane. She’s definitely going to be paying 40%+ of her take-home pay on that mortgage

Depends on the DTI

That part!!

She wants what her rich friends have

Took the words right outta my mouth. lol

👏👏😂🤣

🤭

She don't

Stay classy!

Waiting till debt free and $200k saved up before my family moves there. Wife is from there and wants to go back

shes also going to lose the house once maintenance needs done. Any new windows, siding, roof, air, furnace, floors will crush her.

She might want to teach a class on how to swindle that salary.

Only in America

@@ikbenvoetbal That's actually not true; in most of Europe and most of the world the home ownership rate is considerably lower than the US

@@debunkinghistory214 although my statement "only" in america may not be 100% statistically accurate, home ownership in america is around the 60% mark. There are many countries that have ownership rates in the 70% to high 90%. I think the reason to rent in a lot of other countries is immigration and is therefore temporary, whereas here in America (although immigration plays a huge role in our stats aswell), the cost of owning a home is just not affordable and many people end up renting their entire lives.

There’s a difference between “owning a home “ and “having a mortgage “. And even when you own it you can lose it if you don’t pay property taxes. I would argue a much smaller % of folks actually own their home. And even then…

No. You just don't WANT it to be for everyone because it makes you feel superior when the gap between you and others is as wide as possible.

She’s not broke she just has her money tied up into too many investments she just doesn’t have cold hard cash sitting around she’s not broke and she could easily afford the mortgage on the home

@@flippatheshippa I guess in her eyes? Not according to Dave! I’d listen to him and get things more organized if I were her! Dave’s plan works!

Truth!

I was thinking the same. I love in MD closed to Arlington. It's very expensive over there.

Some very much need it..sorry

Doing it for the likes on social media

I think Dave nailed it, I think this is for the bar scene. Would be more cost effective to lie!

She's calling from Arlington, VA, house is probably not that big.

you’re assuming its big. depending on the location it could be only 1700 sf, but a super super prime location and has pool/spa and fresh remodeling and it could be $760k. i don’t believe they mentioned size of house-if they did my bad

It’s not that much house in Arlington VA at the 760k price.

A big house in that area can easily cost 1.6 million to two million dollars. I think the house she bought is not to big .

Arlington, VA is one of the most expensive areas in the entire country for housing. $750K will get any home buyer a very small, old, basic house. Most single family homes in that location are well over $1M.

@@Originalman144 you're exactly right!

Also can back out with HOA docs

I wish they had asked what she does for a living... who is paying 130k for this.

@@AaBbCcDdEeF , A high turnover job that everyone leaves?

@@AaBbCcDdEeF You sound extremely pressed and jealous tbh

Me too.

Bread maker 💀💀💀