Hold on and prepare.

get a second wife

@@blackpearL40-y2pmodern problems call for modern solutions

​@ModernGamesSuck rates aren't the problem, the bubble is. Corporations buying up housing is. Short term rentals are. Rates actually make more sense, QE is bad for the economy

300,000 house is steal in Southern california

it possible i bought a unfinished house, had exterior and roof within electrical and plumbing but interior missing bunch of insulation and drywall. 1 of the 2 bathrooms is empty, kitchen has no cabinets or sink, no floor. only finished 1 of 3 bedrooms and have bbq stuff outside along with table and water hose to wash dishes and cooking along with fridge in kitchen lol. kinda ghetto but was able to get house very cheap, just doing 1 room at a time was able to get it for 120k houses around me are mid 300s

Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets

Personally, I can connect to that. When I began working with "Julie Anne Hoover," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.

@@jeffery_Automotive Do you mind sharing info on the adviser who assisted you?

Julie Anne Hoover, is the coach that guides me, She has years of financial market experience, you can use something else but for me her strategy works hence my result. She provides entry and exit point for the securities I focus on.

@@jeffery_Automotive After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will reply, and my goal is to conclude 2023 on a financially successful note.

$100,000 was the goal post for the middle class. We were raised thinking if you made that much money you were wealthy enough to live perfectly comfortable and have most of your needs and wants met. Now that can’t afford a home or starting a family in the majority of American cities. “Just move somewhere rural!” But you won’t make 100,000 in a rural area, or won’t be able to find work at all. The system is broken, it’s impossible to get ahead and everything is far outpacing both wage growth and the “goal posts”. Unironically total economic collapse is best outcome for Gen Z, we don’t own anything and have zero stake in the economy, so a massive recession or depression presents the best opportunity and affordability outcome.

Great job! You sound like you’re in a great situation.

@@LongJourneys Yeah. Back in 2011, when I was living in California, I could barely afford a roach infested 1bd apartment in Southern California. I transferred from California to Texas for that reason. We were able to buy a house a year later after that move. One of the best decisions I've ever made in my life. Where you live is very expensive too unfortunately.

@@JavyVidana I have $102k left in my mortgage at 3.5% interest. You give some very good advice about buying houses and such. I didn't know your channel back then, but I did almost to the "T" the stuff that you give advice about 👍

Very smart financial planning man! 👌 Excellent job!

@@LongJourneysI’m in Utah too and make about the same as you. Try looking up North if possible. There are some options in Davis and Weber county.

Should have been born earlier 🤣🫠

We* we will never own a home in America

I think you can own a home but do you really want to own a home right now

Nothing wrong with not owning a home.

@@renelopez2244 It doesnt matter how much you want it. Even according to this video you'd need to earn 3x the median American salary to afford the median cost of a home.

That's what I have to keep reminding myself in my current small starter home. We got a 3.25% rate in 2019, monthly payment with everything included is $840. We've fixed the place up, put in lots of afternoons doing little projects but it's still a small house and we want more children. But that payment is so fantastic I can't bear to let it go. So I will have to practice contentment and minimalism to have that margin in our budget every month. Everything is a trade off

@@LOLZHAHANOTFUNNY So much less stress than a $2500/mo payment. You'll never be scrounging looking for that $840 (mine is $870), and that is so liberating.

@@james5460 Damn you did great too! That's some serious wisdom that I needed to hear. I had to stop looking at Zillow and Redfin all the time because it was bumming me out seeing the houses twice the size of ours. Contentment is such a hurdle but I need to exercise it for sure

We bought in 2013, monthly combined payment for mortgage & escrow is $600 total. Although I love my house, I hate what my neighborhood has turned into over last 10 years. Wife and I want to move like yesterday! But we can't come to terms with a 5x monthly payment for our "forever home".

Bought in 1995. Moved in 2017. I pay about $178/mo. for insurance and taxes. No mortgage. That's the way to go. No stress, plenty of cash to stash.

Haha right. 200 dollar car payment had me!

Doable as my 2020 ford fusion is only 200 a month. Got it with only 19k miles on it

@@Bigmatt7 Congrats. Some people also have low child care costs. But as he said in the video, he got grilled for his estimates last time. I dare say that most people's car payment is more than 200 bucks.

no one is building starter homes, and apartmentwise they are only building 'Luxury' apartments that cost $2k everywhere. everyone wants the rich folks with money but theres only so many people making that kind of money and not before long the regular joe just wont be able to afford anything.

A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a planner, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash, I’ve been looking into similar opportunities in this present market, who do you use?

Having a fduciary is essential for proper portfolio diversification to make gains. My advisor is LOREN LENA WALKER who is easily searchable and has extensive knowledge of the financial markets.

scrolling through the comments and seeing the same wealth manager that i use just brought genuine joy to me. I'm so happy seeing people make so much, i can only assume cause she is doing wonders in my portfolio

Did you get a home inspection?

@@MikeAndCindyJones absolutely. When I mentioned “issues” before, I would say they were somewhat minor. However, a lot of minor issues, as you may already know, amount to large problems/expenses.

Good 👍

Uhh I think I said $120k not $200k 😅

@JavyVidana I took your estimated month mortgage and multiplied it by four, then added in the cost of taxes and health insurance. That is unless you're telling us to swing the mortgage.

​@@JavyVidanaYour budget is definitely on the light side. Thank you for your efforts to inform the general populace. It's way easier for me to criticize you in the comments than to make my own video.😆😆 So I do give you credit for that. But come on, you have to admit your budget is off.

Just got my keys with NACA! 😊

Congrats!

What’s naca? Im really losing hope in being able to afford our own home :(

So basically you’re an idiot! Double the mortgage, Double the price and double the interest! Genius 😂

If you don’t mind me asking - Has your income changed drastically to lead you to make the move? Or is there another reason?

@@Wrought_Iron_Wolfyea I second that like why make that large of a jump?

Big Ups to those that took advantage of buying or refinancing when rates were sub 3%. Never give away those properties! Just rent it out or will it to family. We will never see rates that low evwr again in our lifetimes! ✊️😎

Glad it was helpful!

1300 sq ft 3 bed 2 bath on 0.23 acre in central Florida was $160,000 in 2020. $335,000 by May 2022, only 24 months later. 4 bed 3 bath on 2.5 acres here was roughly $450,000 in 2020 and is $900,000 now.

hoa is $500 a month though

If you can buy a house in cash, why do you care about interest rates?

@@cody5596 maybe I was unclear. I expect the high interest rates to force housing prices down within the next 5 years.

i dont think houses are going to drop. They'll stay flat before the next asset inflation up.

@@RoBDeeZL42 that’s still a loss, when you could meanwhile have your money in stocks, bonds, and high yield savings accounts and grow at 5-11% per year. Especially since housing is so far above norms that it would have to be flat for a decade or longer to get back in line. I could double my money in that time.

@@Katadori09 Yeah if you're looking to use real estate as an investment. Some people just need real estate to live in. Either way, no dip is coming. Buy now and slow grind higher.

Stockton might be the only affordable place cuz it’s ghetto. The streets ain’t safe 😂

@@heuthao7027 it will be gentrified in about 3 to 5 years just like every other ghetto in cali homeboi you gotta think long view as a man

Anything north and south of san joaquin county is the same price point aswell you dont have to move to stockton if your scared?

There’s some nice homes near UOP but the rest of Stockton is frightening to live at. I wish you the best in Stockton!

4% at $100,000 2 miles from the beach in central FL. Comps for $250,000 now 2 years later. Selling it this month and living in a camper for a few months. This housing market is going to crash harder than anything we've ever seen before. Feel bad for all the "golden handcuff" families and individuals who won't be able to capitalize on 80-120% price growth in under 3 years before it completely disappears.

Yeah that 150k section about where I’m at 💀

Sounds like you guys bought a little too soon. Tell the wife to pick up a part time job since she wants the fancy daycare

Depends on why she didn't like it. You shouldn't be picking whatever the cheapest childcare is to begin with. You are trusting a stranger to care for your children.

@XxChuyoxX That's exactly what I said. When looking I had $280K as a max budget. My wife and I have different spending habits. We both have day jobs and I have a large ebay based side hustle and she has 2 side hustles 1 etsy and one 1099 employee. Her side hustle money goes to things that I don't agree with spending on. We pull 10% from my side business toward our finances but that 100% goes toward overpaying the mortgage principle based on a 10 year oayoff instead of 30, pots to pay cash on our next new used car, investments and reserve for emergency fund. My thoughts are that 100% of living expenses need to be funded by our primary day job which is mortgage, daycare, utilities, food, gas, travel aside from flights, gym, mini trips, car repair, shopping etc. Any side income from my 10% side contribution is to help us in the future with investments and/or the ability to pay cash over financing. Any other profit margin from my side goes toward growing my side business (in terms of inventory) and leisure from my side which is watch collecting (sometimes ends up being an investment but more often a break even of loss).

@bettemiddler7756 That's true. All were far from the cheapest option. We also have to consider the location from home and relative to our work location as well. Where he is now is Goddard and I believe it's the most expensive in our area. It's great but a bit overkill for a 3 year old imo.

Why do you have a wife and kids. That's so stupid in today's world. Good luck with that buddy.

Depends on where you are at. I spend about that on principle, interest, taxes and insurance for the year😉

What do you mean

Sup man, former marine here. You realistically want your mortgage to be like 25-30% of your monthly take home. So you gotta do that math yourself. But the bank will calculate with your gross. So if you do 25% of that you could comfortably assume they'll approve you for something around 1250 monthly. I think that's like 230k .Lower or higher depends on the rest of your finances. I was making about 83k when i bought my home in 2021 and didmt wanna go over 320k because that would have been like 1600 a month. I closed at 307k, my entire mortgage +taxes+ insurance is 1425 a month.Hope those number help, plenty of good info on the internet. Also be aware if you dont put at least 5% down on the loan the va will charge you a va funding fee. No one tells you that till you get further the process. It was like 3.4% of the amount when i closed. So just make sure you're putting something down.

Probably not that low.

Prob never😂. Maybe a 4% again

I got that 2.25% too in 2020.

And that's the main reason why there's a huge shortage of homes, many got great deals and great interest rates so it wouldn't make sense to sell.

Similar situation here. We bought our first house for $230k in 2017 and sold for $345k in 2021. We then bought our current house in 2021 for $397k with a 3.25% rate. Our house is now worth between $500k-$550k and an apartment 1/2 the size of our house rents for about $200 more than our monthly payment in our area. We would not be able to buy now.

Bought a house 10/20. My situation mirrors your very closely. Glad I bought when I did, bc I wouldn’t be able to afford it now.

Yes! You are smart to live in Kansas

By spending 60% of their total after tax income for it and being house poor

Boomers swear those people earned their home by sacrificing their daily lattes.

Bought before 2021.

Most can't and they will be house broke

Found a great deal in 2021 at 3%. House was an estate so the kids who inherited it where trying to flip it as fast as possible, but most of the buyers didn't want to wait out all the legalities of an estate. They even paid for closing and repairs IN 2021! I also stopped eating avocado toast and Starbucks everyday.

Yes but you need to qualify for special assistance basically. You most likely wouldn’t qualify for that low down if you are an average person.

Why would anyone putting 20% down go with an FHA loan? If you have an FHA loan the goal should be to be in a steady financial position to refinance when you hit 20% equity. Some people with conventional loans who put down less than 20% have the same problem if their lender doesn't automatically drop the mortgage insurance after they hit 20% equity. Also, stop regurgitating right wing talking points.

Got to the monthly payment part, guess I’m lookin at mobile homes instead

@@TokyoTowerToothWe’re in the same boat, don’t feel bad! A home is a home ❤

@@TokyoTowerToothI’ll just buy a tiny piece of land and call it a day 😂😢

That's a shame, it'll be worth $550k by 2026. and won't see $700k again until after 2032.

Some people buy their homes for the long term and don't intend to sell after only 1 to 3 years. Also, not everyone is able or willing to live in a camper. Rents are expensive and so is storing everything you can't put in the place you're renting in a storage unit.

That is the truth in my area too!!! 😢😢😢

$300,000 might buy a single wide, but you are still a renter. Space rents can be over $2,000 per month.

I’m building a brand new three bedroom three bathroom home with a garage for $330,000 right now

@@user-23w8s1n not in az you ain't

Technically yes but it’s part of a program that you need to qualify for. So it’s considered DPA

I bought my two story home with 4 bedrooms and 2 bathrooms 15 years ago with only $14,000.

@@marcopolo3109and that's irrelevant today

@@marcopolo3109 you are out of touch

No

No

What is wrong with you?

Yes, the lender will use 70% of the total amount of the retirement account to count towards your reserves.

I can’t even get a home in sketchy neighborhoods for under the mid 400’s.