Thank you for this^. I'm sure Dave has heard and knows all of this, but he just continues to beat the same drum, with no willingness to accept that things are very different now compared to just a few years ago. If you owned a home before the pandemic, you are pretty much in a different economic class because of it

It's the inflation of all products that is the problem. We paid $89,900 for, our house, but right now we are told that our house is worth $156,000. We couldn't afford to finance our house, at today's rates. Thank God, we were able to pay off, our house, a couple of years ago.

Plenty of homes in the $200K range. $50K a year is enough. Mortgage rates are still at historic lows. Got it buddy.

@miketheyunggod2534 it sounds like you don’t understand what averages are

Real estate is very much influenced by location. Taking an overall average isnt really a great way to look at it. I took a job in philly vs boston when I graduated specifically because cost of living is much lower. Current median home price here is around 260k.

Even more reason to be grateful that those high interest rates don't exist today!

And houses themselves were less than half the size they are today, speaking of medians. Smaller houses in one area are much cheaper than larger houses in the same area. If people would quit buying so much crap they don’t need, then there wouldn’t be a reason to buy a much bigger house in order to store more crap they don’t need In short, if you really want to get ahead, quit buying crap you don’t need. Do I have to say it a fourth time?

Half??? Try like 20% the price. My house right now would sell for about $250K. In 1980 it would have sold for 50k

that's why i say even if you grow up on the street, work and become rich, as you became rich you loose a lil sense of reality on how hard life can be for poor people. but dave still GOAT

That might be so that house prices were much lower but he’s right in reframing the problem. Somethings were easier back then somethings were also much harder back then too. Anecdotal but My cousin 9 years younger than me bought a house before I and most of my cousins at 25 From similar homes, we grew up together what did he do different? He even bought property before his older brothers.

Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.

@@EdmundEthan093 This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

@@roxdietren I'm actually considering it. It might be time to reassess my investment strategy. much more info needed please, what did you invest in?

@@EdmundEthan093 My CFA “ claire robert's durand “, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..!

@@roxdietren I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

Same here, my portfolio has been going down the drain while I try trading,I just don't know what I do wrong..

Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.

​I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Ella.. Highly recommended

Wow, I'm surprised to see Ella mentioned here as well. I didn't know she had been kind to so many people

​I'm also a huge beneficiary of her.. I thought myself and my family were the only ones enjoying Ella trade benefits

Unfortunately, theres lots of people in the comments here denying that.

@@jer1776can care less about who disagrees with it. Inflation is up, groceries are up, housing is up. It is objectively getting harder to achieve.

Harder for lazy people😂

At what point is it considered dead though? If 1 single person in the country can afford a home, the American Dream is technically not dead. Right now at this moment something like 5% of prospective buyers can comfortably afford a home. Is that still practical?

@@JudeDude409 Just harder for you to achieve.

@@DWEthiopia yep mid 30s n still same

Millennials shouldn’t have waited until the last 4 years to start their lives. Prices were great up until Covid.

American just discovered inflation and now its the culprit to all the problems. You had ONE year of high inflation in this country (~8%), because of those fat COVID checks the government sent to people, but that inflation is no more. Current inflation rates are declining in getting very close to the pre-pandemic ones.

@miqueiaspaulo1 🤣😂 sure they are 😆 compare now to the great depression the actual numbers and conversation to today's money . . . Actuality look then say what u just said 🤭🤯🤦‍♀️

@@miqueiaspaulo1 That is a misnomer. Their were plenty of businesses that also profiteered from the pandemic, but no one is blaming them for the even bigger checks via "loans" they received during the pandemic and didn't pay back, despite not fulfilling the guidelines to receiving the "loans." Part of the inflation was due to supply chain and logistical failures during the pandemic and while we were making war with countries who supplied some of these products (ie, neon needed to make semiconductor chips is supplied by Ukraine as a byproduct of Russian steel which is used in 90% of all semiconductor chips). Due to all the shutdowns, companies could not receive certain products or they came at a slower pace, which played a part on the supply side of production, and causing a rise in prices. But this is not it! Also, our proxy wars with other countries, and provoking certain OPEC countries, who have decided to "regulate" how much oil and gas is produced and sold to us at a greater cost, helped to increase oil and gas prices which increases the costs logistically to move and exports goods at a greater cost. And of course, energy is needed to make the products, and you can say also this has also contributed to inflation. The Great Resignation also contributed to the rise in prices when workers decided they had enough and they could walk away and get a job elsewhere paying more affordable wages elsewhere, and leaving behind jobs that paid very little and could not sustain them--or grew tired of the mental and physical trauma of the workplace and leaving a big hole in the low-wage job market. [Some people blamed "the checks" in this area, but those couple of thousand dollar checks would not have sustained them very long--maybe a month and a half (tops, if living extremely frugally), but not long enough.] And finally, the elephant in the room that very few have addressed--corporate greed. These larger corporations have been exuding with pride in the stockholder meetings how profits have never been so high, and their plans to make as much profit as they can during this crisis. Of course, there have been several recordings of multiple meeting from different companies made and shared of these stockholder meetings. And do these profits "trickle down"? No. Not to the employees and not to improve the product or it's standards. The profits are used instead to line the pockets of shareholders and corporate leaders and to artificially inflate their own stock prices--it's how they avoid any tax burden and it makes it look like their company is doing better than it's actually worth. It also gives the perception that the economy looks better than it is--as a lot of people look to the stock market rather than how well average families are holding it down during this crisis.

This will not end well.

That's exactly what it is. Massive government spending, debt, and inflation. Add in that a side of greedy boomers and housing speculation you get a recipe for borderline turkey shacks being sold as half million dollar luxury homes.

uh, they did that for the last year every year since 2020...

Thanks Biden.

Inflation is a hidden tax on the poor, AKA, anyone who does not leverage assets. That's why Mr. Dave's plan is ideal for most people. Buying a house with a 15 year mortgage and investing in broad market funds. It's a balance between financial abilities and max value.

10x 240k is not 1.2 million.

@@mustangthings I got trigger happy🤣 but still 5X the home price vs 2X salary increase is still a significant difference

When no one ever talks about, is that there are a whole areas, neighborhoods, suburbs, that are developed now that we’re not available before. So yes, it would be difficult to buy the exact same house in the exact same location, but there are other places to live that she didn’t have the opportunity to live in, which she was your age

Exactly but Bald Ramsey doesn’t like facts

@@user-qp2qe5gf9boh the coffee and avocado toast propaganda. Housing is still way way way more expensive relative to wages now. Seriously, how damn difficult is that to understand?

No he's doing alright thinking about his financial future. If you live without a plan and then 10 years down the road you'll find yourself nowhere in life

@@blackspiderman1887this has been the sad fact for my childhood friends. I have a house, on track to get married and have a dual income house with fairly decent careers. All with no debt besides the house which is 18% of our income and we are on track to pay it off early. My friends I’ve known since childhood have zero plans for the future and make more money in their household than ours and they have 2 new cars, cheap 1 bedroom apartment and less than 1,000 in savings but they take vacations every 2-4 months. It’s sad that they could be much better off but are paycheck to paycheck and have firmly refused help with doing a budget or having me teach them finances. At the end of the day people with the want will prepare and people without will have to hit rock bottom to want the drive to succeed.

@@blackspiderman1887kind of is ,kind of it’s not, but no doubt we have a mental health crisis going on right now and thinking that at 18 with anxiety is the result of too much social media and “HEADLINES”.

@@blackspiderman1887 nobody said don’t have a plan. But even Dave mentions the Bible regularly. Jesus said it, Paul said it, and others too, read phillipians chapter 4 starting at verse 6. Don’t be anxious over money,wealth, or material possessions. That’s the point that I was making is that he shouldn’t be anxious about his livelihood unless there’s a major problem that needs to be addressed. Seems like he was just anxious when he didn’t need to be.

@@michaelcatalanottohandyman your advice isnt practical though. You said "have a good spiritual routine, get out of debt, be kind, and stay out of trouble and blessing will come your way. Well I got news for you. The world don't work like that. I have a friend who does all that and he's broke and lives with his mother over 40 years old. So if you're gonna tell someone 'dont worry" you need to follow up with more practical ways to take care of themselves other than "be kind and the Lord will bless you". The Lord bless those who get up and make things happen. He don't just let things fall in your lap because you're a kind person

I got a cousin that is exactly what happened to him he was going to buy a house for 240 that was the price during 2019 he got the money now but that same house is worth 450

But that's no problem for the owner of the house, in fact it's great for them. So who is right?

@@kbanghartcontrary to what social media may promote, single family housing should not be an investment venture. It should be affordable for everyone (scaled to different income levels). You shouldn’t be buying a house with the expectation that you will make a fortune on said house in the short term….

First, easily? Second, what exactly do you want him to say?

@kbanghart The problem is that when people can't procure housing, they delay or even forgo having a family, and then you have declining birth rates, and when you have declining birth rates, there's not enough young people to continue society into the future.

Those were more common there in the 80’s and 90’s

Who he hell wants a 100 year mortgage?

@@navigator72 Hawaii has 99 year lease last I checked.

​@@navigator72 someone who wants to qualify for a house. Don't be stupid and make minimum payments, pay that bish off in 10-30 years.

​@@navigator72 It's funny because I think "mortgage" literally is latin for "dead pledge".

It's actually easier because nowadays there are jobs everywhere and the convenience of everything is amazing. Back in the day, our ancestors had limited choices.

@@vickieclark5931 true that. if you cant walk for example. the american dream would be dead for you back then. now you can do soo much while being paralyzed.

What are these responses, I feel like they’re boomers trying to gaslight younger generations.

It's not the news that's scary to me, it's property buying websites.

@UltimateIrishRebel or even the store, car, house, kids . . . it's everywhere, not just the news

He’s not wrong. Housing is more unaffordable than any time in US history. Homes appreciated +50% since 2020 and now you have to finance it with a 7% mortgage. You need a family income of over $100k to buy the median home price in the US. I bought a $410k house last year and I spend almost 40% of my take home pay on a $165k salary to afford the mortgage, taxes and insurance. Ramsey is so out of touch. Every thing was on easy mode for Boomers.

The truth is a lot of people are struggling out there. We are suffering and don’t know where our next meal is coming from. Student loan relief and a proper UBI would go a long way in helping us out. We could pay our bills and put food on the table. Why don’t George and Dave want that for us?

@@costco_pizza Reality precludes a proper UBI.

Been to the Philippines...it's ridiculous how easy we have it here.

People I know there live in a Hut and still feed orphans

@@tristan2332 Been to Philippines and 64 other countries including Peace Corps in Haiti. First world issues in the U.S..

This is objectively true.

But this is literally what the title to the video is about. The “American Dream” isn’t to live in a hut or a small apartment your whole life.

Interest rates are not high. They are medium.

@@amireallythatgrumpy6508 your skipping the actual math and only gawking at the numbers and going "goly g this here number is bigger than that one"

@@BerserkEscaflowne In other words doing the only thing that is relevant.

@@amireallythatgrumpy6508 you have to complete the math formula also

@@amireallythatgrumpy6508 you have to complete the formula all the way out the term of the loan then you can see the only thing that is relevant

🤣🤣🤣

He just love to put everyone down.

That and his tried and true “veehickle”

Hwining I think is how he spells it... ?

Cool Hwip

With a mortgage or paid it fully?

@@nadyadobreva9904 I would guess a mortgage. Also he probably has a spouse helping him (I did too at that age 10 years ago). Some people house hack and rent out rooms or buy a duplex and rent out the other half of the building. Home ownership isn't like what you see on TV. People sometimes have to make it work.

My ex and I bought around age 30 also. The right time to buy a house is when you can afford it. That situation varies by individual.

@@GigaChad_169 its says single

@@jmanrock11 Good point. Even better for him!

He’d have roughly a 1 in 18 chance to go to war in Vietnam. If he was college educated he’d be even less likely

Lmao, he's basically saying i wish i got everything dirt cheap like the boomers but unfortunately was born in 2000s.

I can sympathize with the sentiment, Vietnam was miserable but at least there was a clear start/end and most people did not need to go. The current situation would be a lot more tenable if everyone knew prices would definitely become widely affordable in 3-5yrs.

@@somelolplayer6199 probably more like 10-15 years, but prices will ease as the boomers start leaving this earth.

@@Joenzinator I’m optimistic there’s some downturns in the near(er) future. My best guess right now is interest rates drop and housing prices go down with it. Right now there are no sellers and even fewer buyers, the market is extremely illiquid at the moment. Once interest rates drop to 4%-5% it should spark a bunch of selling from people who have wanted to move within the past 2 yrs but held off to avoid trading a 3% interest rate for a 7% interest rate. The difference from now and 2.5yrs ago when we had 3% interest rates is that now we’ve had 2.5yrs to accumulate prospective sellers so there’s a backlog. It is true that the lower interest rates will draw in backlogged buyers from the past 2.5yrs as well who have held off because of the high interest rates and that will have the opposite effect (holding prices higher). Despite the added buyers, my assumption is a big part of why this market is so expensive is due to the lack of inventory and liquidity in the market. Even if buyers and sellers did re-enter in equal proportions, I think the higher volume of home sales would drive down prices.

Average house price was 69k in 1982.

@@brandonwoodard1515 Right but minimum wage was also $2.75 in 1982 also...so...

C’mon. The median price of a home nationwide in the 80s was $75k so I find it highly unlikely that you could get one in NYC for $50! Enough with the hyperbole.

@@steveguillory7568 I said NYC. Even 75k is still cheap.

You could only get a house in NYC for 50K in the 1880s.

@@amireallythatgrumpy6508 Go and look it up.

Ill happily take 17% interest rates if I can buy a home for $50k or $100k again

Right around that time ppl said they paid 15-25k for tthere homes ? Comparing that to this economy is just crazy talk Dave has the worse advice I’ve ever heard his advice is for rich ppl no one is making a 15 year loan quarter take home pay mortgage lol ppl can’t even afford a 30 year mortgage anymore let alone double that lol

@@xsgtxbigboy1655 Very small 1000sqft plain jane homes were 40,000 in 1980, Atlanta surburbs. They went up from there but then again in 2011 when the market was flooded I was finding Medium size HUD homes for 40k in the suburbs of Atlanta. I bought my rental home that year for 25k cash! It is a 973sqft 3b/1b with carport in the City of Hampton. Things change and SEARCH for bargans.

​@@xsgtxbigboy1655 However they also only made like 5k a year.

Don’t buy a $400k home. Buy cheaper,rent ,or live with parents. Simple and up to you. In the 90s I got pre approved for a 150k mortgage and pushed hard for me to buy a $150k home. I bought a $70k condo.

17%? that is not the interest rate right now. It's more like 7 or 8% for house loans.

When did you purchase the house?

I love hearing this 💗

Do you already own the house, or you still are paying a mortgage for it.

@@nadyadobreva9904 they likely bought it in 2020 with record low interest rates before the market blew up. Like most others probably couldn’t afford it today

​@@JeffTheTrader Do you own a home?

Were your parents 18 when they bought this home? I’m guessing not. And again, you’re looking at one point in time and extrapolating it was always that way.

What went wrong on LI is foreign investment, and illegal flooding/blockbusting. Not to mention out of control taxation and overpaid public employees.

@steveguillory7568 mine were 25 in 1990 when they paid $200k for their home while making $75k. Inflation adjusted their income was worth about $150k today. That $200k home is now worth $1MM. No one making $150k has any business buying a $1MM home. You need to earn twice as much to buy the same home as your parents.

Did you even listen to what they said? Apples and oranges is what you’re comparing. You’re trying to make a point out of nothing that Boy is 18. They’re talking about him as an 18-year-old. Being able to afford a home and no 18-year-old being able to afford a home at $600,000 unless they won the lottery.

@@nailatiylluf ok let me try this a different way. How much was that home in ‘05 before the gfc? How much did it fall by 2012? How much more affordable was the home in 2019 vs today? Yes, things are hard right now. Doesn’t mean they’ll never improve.

I already paid off my first house, and I am kicking around buying my 2nd. And do I make $35/hr or above? Hell, NO! I don't know where you're getting this idea that it can't be done.

I think where you live plays a huge role in achieving that. Props to you, though. ​@paulstandaert5709

​@@paulstandaert5709any average person knows he is correct. Funny how wealthy and boomers just cant get that through their thick skulls.

“Work 5 extra jobs !” Is what the Ramsey show would say

@@Mo-wq1oq yeah man gotta move somewhere that you can afford that has no jobs and is run down

Dave is out of touch. I make over $100k a year and I can't even buy a house. The prices and rates are out of control.

"I bought a house with my wife in 1980 when I was 25, you can do it too!"

Stop looking at global averages. They distort the picture. Look at average starter home prices, average salaries of 20 to 30 year olds and average spending of those same people for standard spending - transport, eating out, technology, food to cook at home, clothing, holidays, etc

Adjust comparisons for inflation, they’re still bad but a bit more tenable. Comparing in absolute terms is pointless with inflation changes, same reason I get worked up about people directly comparing 1960 home prices to 2024 home prices… yeah it might be 10x higher but you also earn 5x as much so calling it a 10x increase is a bit dishonest. Don’t get me wrong though, even on an inflation adjusted basis home prices are extremely unaffordable for the vast majority right now.

@@somelolplayer6199 true but when you factor in the increase in wages being eaten up by inflation it really doesn’t matter. The housing issues began over two decades ago with the lack of supply and everything else just got baked in. Most people I know under 40 are renting and some are even living at home with parents. It’s sad.

That's when I starting saving for my deposit

📠

Yep, and if you dont currently have $80k saved for a down payment next year youll need $100k.

All the more reason to be grateful interest rates are 17% today.

Exactly, the barrier to entry was much lower

There has always been an element of sacrifice when buying homes or obtaining some sort of life goal. My ex and I sacrificed "having fun" in our 20's to afford to buy a house in our 30's. Right now I'm sacrificing travel, brunch with friends, and other stuff regular people do (who are up tot their eyeballs in credit card debt) to ensure I'm saving enough for retirement. You can't have your cake and eat it too unless you're already independently wealthy. People who have to work for a living can extend or pretend on credit until they go bust, or they can sacrifice and prioritize financial goals.

No! That's an old, traditional -- yes, Boomer! -- question. Asked that question myself after coming home from Vietnam. But if you plan and manage your life, you can avoid "sacrifices." Where's my tiny violin, so that I can play a woeful tune for you?

Sacrifice going out to eat, expensive vacations, new cell phones, streaming services, Starbucks. No need to sacrifice your health and your children.

Everything in life is a sacrifice. You got to figure out what you’re willing to sacrifice. Most things in life are achievable…you got to know if it’s worth the stress of getting it. People acting like they can’t buy a house or sacrifice 18 months to save up and live below their means is the hardest thing to do in life apparently.

🤣🤣🤣

Okay, there's a place at 13013 Buenos Aires Pkwy, Del Valle, TX for $315,000. 3 bedroom, 2.5 bath. 2 car garage. I dunno. I paid $150,000 for my much smaller home in 2003 and it is now upgraded to similar specifications and is probably worth about $300,000 now. House price doubled, but so did wages from back then. Mathematically, it doesn't seem too far out of range then vs now.

Another one at 15218 Parrish Ln, Austin, TX 78725 $260,000. It looks nice by my standards. It doesn't look hella out of affordability to me.

Yup, San Francisco Bay Area

That’s how it works. Everyone will not be able to afford a home especially if you don’t like living in affordable states,cities,and towns thinking thinking it’s the middle of nowhere.

Yep!😔

No..

@@buklao I'm so lucky I closed on my house in Feb of 2020... I didn't think the covid thing would be a big deal

It's coming back. RELAX! History matters.

​@@garyzimmerman6316people refuse to see past their nose

I agree. A lot of people don't want to crimp the lifestyle they feel they deserve in order to sacrifice to get ahead. Its possible, but it requires a re-imagining of what your typical lifestyle will be. You may not be able to buy new cars going forward. You may not get a master degree and the associated student loan debt...hell you may not even get a college degree and just pick up a trade instead. The old ways were unsustainable to begin with, now people are going to have to find a new more sustainable way forward in life or do without.

How? I make 100k a year! I can't afford a house and will rent and never retire now. It just is not possible unless I do an APR or do 2% down with 60% of my income going towards the shack in the hood for $2600 a month not including insurance, utilities, or anything else. The 15 year mortgage is not possible for me

Life has always been hard. What is new. Work hard and try to achieve more or dont. This is America. You have a choice.

Age?

@@timgibney5590 the fact that there are people who earn a lot less and have their own home shows that it's possible. If you really want to crunch figures, cut spending and save up for the future it's definitely possible but it takes effort.

And that's nothing new.

That's not true, I know multiple people who have bought homes at 18 and 19 years old, they're still in their early 20s.

@@bagofsteel9152 absolutely no way have they bought a home on. their. own. at 18 or 19 without an inheritance to buy it outright or a co-signer or, possibly, mommy & daddys help. They have zero credit history. Even FHA, HUD, VA will not do it.

@@bagofsteel9152 Absolutely no way an 18, 19 or even a20yo is going to get financed. Not without an inheritance or loan from a relative that they could pay cash outright or a cosigner. They have ZERO credit history. HUD, FHA, VA will not even touch them, let alone a conventional loan. If your friends have told you different they're lying or you heard wrong.

@@bagofsteel9152 with a CO SIGNER, gosh learn to read

Ok, so if Dave's wrong, what advise would you give to someone now who wants to face the challenges of life and plan a good future?

the "american dream" is now on a foreign land, working remote making american money, paying 200K for a mini mansion 😂 Equador, albania, Mexico, Colombia, phillipines, thailand etc. its a shame but the reality is thats whats its become if you make 100K or less(67k is avg us salary) you are priced out of anything in the US unless you go to the boonies whith no people/entertainment and at that point why do that to yourself when you can go to mexico or colombia and live like a king with all the standards & perks of city life

@@commonenglishmistakes4360 ^

The macro trend is things getting worse, but short-med term prices are likely to go down as the market becomes more liquid (right now it is very frozen / low volume). It’s def possible things are better in 12 yrs vs now, but in half a century things will prob be worse (prob sooner).

@@commonenglishmistakes4360 Probably that unless you are a top 1% individual earner or a top 10% household then housing is probably unaffordable to you right now but there are things you can do now to prepare for a future where the market is more affordable. At the moment rents near me are around half the cost of a comparable mortgage, so rent and budget to the best of your ability and the more you can save the better your position will be when the market is in a state where home buying becomes practically possible again. It’s true that renting is like throwing your money into the void, but right now it sure is a whole lot cheaper to rent vs a mortgage. There’s also the benefit of landlord appt upkeep, if an appliance breaks that’s a landlord responsibility, if a pipe breaks and you get a water leak that’s a landlord responsibility, etc…. with home ownership there will be repair costs on top of the mortgage that would be paid by an landlord for an appt.

The American dream includes having near adult children two decades post high school, not buying your first home.

​@@neverneeded.2697what? No

Exactly. So long as it’s your goal, god willing, eventually you’ll have it.

@@neverneeded.2697 not what I said. If you’re taking baby steps you don’t stay under your parents roof. You start with small apartments, then townhomes, then at some point a house etc. (for example). You’re still making advancements forward, it’s just not all at once

Yeah, I caught that too. My parents are baby boomers- it’s till 1964. I liked that he said it is harder than ever but possible.

Oh, oh. Remember when Dave said he would leave when he started to not make sense? My neighbor is the baby of Baby Boomers and he just turned 60 this year. That’s right 1946 to 1964 is the Baby Boomer generation. Myself, I’m a 1958 model and, hopefully, retire in 2 years. I know Dave is 3 years younger than me, which would make him born in 1961…..maybe 1960???? 🤔

culturally people born before the 70s basically act like boomers, i know people born 65 to 69, and they are basically boomers in their culture and disposition.

Probably off tic “tac”

@@americaneconomist86 🤣

He also says the house prices are not going to come back down, so….

@@tylerhair9067 we said the same thing in’05. And then they did. Maybe prices won’t drop. Maybe only price growth will slow. And interest rates drop. Then they’ll be more affordable

EXACTLY! This too shall pass. Cynicism and despair don't get you anywhere, but hard work and patience can make you end up in at least a fairly good situation anytime!

Very difficult indeed, but when the going gets tough, the tough gets going. You have to learn and handle finances properly. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows. Don't go for penny stocks.

Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022

I could really use the expertise of this advsors.

KATHLEEN CHERYL CONSTANTZ is a hot topic even among the finance elite in California. She's just a search away(on the net)

Actually those born between 1961 and 1964 do not belong to ANY generation.

People weren’t making as much as they are now. My father made good money but nowhere like today. Certainly not 6 figures.

There are cheap houses in pa and Illinois in the country

Retire early and do what?

@@miqueiaspaulo1 Then you can do what you're passionate about, when you already have the lifestyle to support it.

How much was your house compared with your salary? Let me guess, it was 2-3x your annual salary, unlike how the median home price is 6-7x the median home price today.

@@awill3454 actually somewhere in the middle. The house was $125,000 and yearly salary was $23,400 which is like 5 times. Not quite 6 but definitely not 3.

My first house was $142,000(after my 15k down payment) at 6.7% back in 2003. I was 31 at the time. Just checked the SS logs and I made just over 31k that year. That's means the house was just over 5x my income before the down. Sure, it took me about 3 years to save up for that down payment and I worked a second job after I bought it to get some extra padding in the emergency fund, but I did manage to do it myself. My current home was 4x my current salary in 2020 after the down payment, so it's a little easier to manage, but I also didn't overbuy and get something I couldn't afford, either. Thinking you're going to be positioned to get a house at 18 is not realistic unless your parents are going to get you there or you found a great job and saved like a demon while you were in high school. Not a common thing. It takes time to get established, plan well, and get your timing down. If that someone's dream, it's possible, you just have to work for it.

But he's right about interest. I had 9 percent in the 80s

@georgewagner7787 that maby true but besides the interest rate it is now 7× more for a house and two married people can't get approved for a house unless your making 100000 to 200000 and the wages aren't there to keep up like they have in the past. A house should be achievable and unless ur making a crap ton it's not for at least 50 to 80 % of the population that is sad.

@georgewagner7787 it's pretty crazy 2 people that work over full time can't afford anything in this climate in the USA

And we should be grateful that they are not 17% today!

@@amireallythatgrumpy6508 Obviously. Mortgages might have once been 17% in the past, but that doesn't eliminate the struggles people are going through today. Bringing it up is a distraction. We can talk about the struggles of young people today, without being like "while in my day!" While okay, but we're trying to make things better. We should be progressing, not comparing woes.

@@Ashley-ku7is But it does mean the struggles would be twice as bad if they WERE that high.

Your advice is so true. Too bad it falls on deaf ears. Whiners here feel it is their birthright to be able to afford a house in LA, SF, SD, Orange Cty, NYC, Miami-- anywhere within 50 miles of the coast. USA is a gargantuan country.

An inconvenient truth is that plenty of affordable houses do exist in USA, contrary to what these whiners have you believe. Ohio and parts of Texas are just two examples. But you nailed it-- home ownership requires sacrifice, like relocating or upgrading one's job skills. Just ask any immigrants, esp. from China or India.

I don’t need to live in major metro or ghetto areas.

@@blackworldtraveler3711 that is good. Many of us do.

​@blackworldtraveler3711 that is where most of the decent-paying jobs are. That's part of the issue. But I think a lot of people need to be more flexible about location to help deal with this.

@blackworldtraveler3711 this is a stupid comment. We are not talking about just you.

@@melinated2497 This is a very large country. Seems people have found a way regardless. One of the things young people need to consider when seeking a trade or career field.

Its possible but not in metro areas

So it's still possible

Lmao so true. This real estate situation will not work itself out for decades, if ever. Since the Great Recession, new home builds have not kept up with population growth. We have a huge deficit of homes for the population and we can only build our way out. It will vary by each locality, but rich people and NIMBYs tend to be on local government boards so it will be a huge hurdle to get more housing built in most cities. Nobody wants the price of their home to go down when supply increases. Ramsey just thinks his past experiences can just be extrapolated into the future. This is a very different America, one that is in decline

im 37 years old. i dont make 200k a year, i inherited nothing, i worked two jobs (80+ hours a week when i needed to, not anymore), i stopped spending and borrowing like an idiot like society tells me to do to be "happy" and i rooted myself in my faith in how i make decisions. im 6 months away from paying off my house and being completely debt free. stop listening to people that tell you it isn't possible, because it is. you have to do the work. pain is important to becoming a better person. these lessons ill teach to my kids so they aren't set up in the same trap. get honest, get real, and pull back the curtains. excuses won't get us anywherre.

@@josephscimeca7433 Facts 💯

Philippines, costa rica, Poland, Portugal

@@georgewagner7787Thailand and phillipines u can’t own land there unlesss ur married and by then what’s the point

Weird how so many immigrants come here with nothing but the shirt on their back and are able to succeed easily while native born Americans think the dream is "dead". SMH.

@@kleindropper Those migrants have the luxury of having their food, housing, childcare, medical expenses, travel all subsidized by huge amounts of tax money that is simply stolen from you and me. Give me back the 30% of my income that gets stolen from me and I'll change my opinion on the American Dream. so your take is not only wrong, its ignorant of the facts at hand.

@@kleindropperbecause our government gives them everything for free

@@kleindropper because the quality of life compared to a dirt hut is still better... it's just not as good as it used to be for the Americans here...

Reminder a super rich phony hippie said that. Carlin literally bought a private jet to shelter taxes.

Agreed. Median price is not $400k in the Midwest. Maybe in Chicago it is but not most of the middle of the country.

@@fredfinger7092 Where I live, you can buy nice homes for $200k or less. Really nice ones for $250k-300k.

You don’t even know what ur talking about I made more at 17 an hour a few years ago and now I make 35 and can still not afford bills? Was 550 for an apartment when I made 17 now it’s 1500? Ppl Like you are the problem you blame the ppl instead of this trash economy we live in

@Mr.Boring_Man read the room it dosent take poor decisions anymore most people are one bad day from homeless in this economy

Yeah my bad decision was not buying a house in middle school.

And what will your grandchildren say about you when you're 75? They will hear your horrorifying 1st world problem stories about how your IPhone 14 couldn't do this or that and then say your life was easier than theirs! PUHLEEZE!

That lasted for 5 years and the economy prospered after. They could work an average job flipping burgees and own a home have two kids and a loyal stay at home mom with a dog and 2 cars in the driveway. Meanwhile my generation is working two jobs to have a studio apartment and struggling to buy groceries. Give me a break.

Imagine living I'm the 40s being brainwashed into fighting a pointless war for the same people who would destroy your society and leave your grandkids fighting for scraps.

He's not going to say that because it isn't absolutely true. But it would be dishonest not to admit that the opportunities aren't the same as they were for the baby boomers. It doesn't mean you should just give up and despair, but most young people starting out now will enjoy a lower standard of living than folks that came of age in the 70s and 80s.

It isn't true for him, but for others it is.

It would be irresponsible for Dave to go around saying "Don't try to better your life ever, its all hopeless". Because all it takes is one counter example to make that statement untrue. Sure the news media gets ad revenue from the click bait headlines about how horrible life is, that's unfortunately their business model. However, the reality is the world isn't as horrible as the news would like you to believe.

@@Blittsplitt5 It's only true if you let it be true. I make a crappy income, but I'm still able to live descent because my spending is under control.