Should You Buy a House?

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5 жыл бұрын

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The importance of homeownership is still embedded in American culture, but actual homeownership has dropped to its lowest level since 1967. How should we react to that? Are more young people ready to buy a home than they believe?
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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Andrew Matthews & Julia Lorenz-Olson
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Пікірлер: 2 600

@thejesuschrist 5 жыл бұрын

Don't build thy house upon the sand, build thy house upon the rock of good credit, solid income, and 20% down payment. 😇

@TwoCentsPBS 5 жыл бұрын

...and the rains came and the storms raged, and lo, they still had equity.

@thejesuschrist 5 жыл бұрын

@@TwoCentsPBS Praise be sound financial advice! 🙏

@youredxspanktube 5 жыл бұрын

PRAISE!!

@lucasvoltaire8364 5 жыл бұрын

Ok how do you have a 2.5 children? Like who has half a child? Does this mean you have two functional kids-and your third is some sort of weird azz geodude thing that you all agreed to deal with? I need answers plz

@pseudonymous7557 5 жыл бұрын

Lucas Voltaire its just average fertility rate

@iammrbeat 5 жыл бұрын

Simply put, less people own homes today because less people have enough money to own homes.

@UnknownUnknown-tu3be 5 жыл бұрын

More *debt* I would say is a more accurate assertion.

@gregoryeverson741 5 жыл бұрын

i would say people are wasting moeny and not saving it, going to Starbucks every morning and getting coffee and a muffin, im guessing thats like 7-10$ thats where you lost a shit ton of money

@workemail6283 5 жыл бұрын

@@gregoryeverson741 yaaaa must be all that yuppie bitch drank and muffins lmao good luck when you find out how expensive real life is hahah starbucks lol

@chuckdavinci9044 5 жыл бұрын

$150+ a month on coffee in cardboard cups is hugely wasteful and indicative of a complete lack of financial knowledge and responsibility. Haha Starbucks, indeed. How many $900 telephones did the average person buy per year twenty years ago? How much were people spending on broadcast television? Average incomes, in real terms adjusted for inflation, are roughly the same, but now people have a few dozen extra lines in their budget that apparently take precedence over home ownership for a great many young people. One of my classmates owns 6 houses and numerous cars (mostly land rovers) and he's been self employed as a lawn mower since he was about 10. Everyone else is hundreds of thousands of dollars in debt from the education that can't get them a real job. There's so much wrong in this video that it's honestly just flat comedy that forgot to be humorous.

@geollizzie2459 5 жыл бұрын

*fewer. You use fewer when it can be counted (people etc) less for everything else (less interested than him etc)

@Enrique-Garcia 2 жыл бұрын

"Millennials are seeing home ownership as more of an option than a necessity." Nnnoooo, they're seeing it more as an impossibility than a necessity. If they had the money and choose not to do it, THEN it's an option.

@felipedandrea124 2 жыл бұрын

Avocado toasts are pretty expensive, and all I see are lines and lines to go brunching on the weekends.

@wolfworks7339 Жыл бұрын

Exactly. 40k down-payment to afford a house that's going to need a higher down payment by the time you save that? Next to impossible. 5-6k for a nice trip to Europe? Much more doable.

@Phoenixguy357 Жыл бұрын

Its so frustrating when older generations just dont effing get that we have no chance at being as wealthy or financially priviledged as they were because of how much their generation screwed the economy. Eat the rich

@eegernades Жыл бұрын

@@felipedandrea124 the hell even is avocado toast? I hear people like you mention it and never once have I've seen it

@d_all_in 11 ай бұрын

Yet they are prioritizing travel. The people saying they can't afford it are wasting their money on going out and doordashing every meal, simple as that.

@dantetre 3 жыл бұрын

"It's called 'the American Dream' 'cause you have to be asleep to believe it." - George Carlin

@junovicz 11 ай бұрын

Nice quote

@turtleanton6539 8 ай бұрын

Yes

@EmiliaGeelan 20 күн бұрын

I learnt to manage my money through investments and it really works for me. They say money can't buy happiness but poverty can't buy anything.

@Williamesq12327 20 күн бұрын

There are so many ways to manage money and prepare for a relaxing future, we just always have to keep doing our best because whatever we plant now, we will harvest later, good or bad.

@tahirisaid2693 20 күн бұрын

Investing wisely can significantly impact financial stability, offering peace of mind and more opportunities. While money can't buy happiness, managing finances well now will determine future outcomes. Let's continue making smart financial decisions.

@GeralynWinnifeld 20 күн бұрын

As a novice, how do i get into investing properly and be profitable??

@tahirisaid2693 20 күн бұрын

Angela Lynn Schilling is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment._

@GeralynWinnifeld 20 күн бұрын

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

@TampaTec 5 жыл бұрын

Value of houses are overvalued vs average wages and property taxes are high.

@jacobschweiger5897 5 жыл бұрын

This is becuase increased urbanisation has caused houseing prices to rise.

@tturner0051 5 жыл бұрын

Yea this really depends on where you live. If you are in a LCOL area things arent too bad.

@blackworldtraveler3711 5 жыл бұрын

Tampatec You have to find an area you can afford. Takes math and common sense.

@josburd6429 5 жыл бұрын

It's weird that a 4 bedroom and 2.5 bath house in CA around $600,k But in other states you can get a 5 bedroom with 3.5 bath for around 290,k Crazy Right. I understand location and weather etc.. but still Really , wow

@tturner0051 5 жыл бұрын

@@josburd6429 Supply & demand. There's millions of people in CA with a lot of money.

@vexotoniks 5 жыл бұрын

“How many kids do you want?” 2.5

@christopherellis2663 4 жыл бұрын

Okay, which half?

@Andy-im3kj 4 жыл бұрын

Especially with Astolfo.

@beasttitanofficial3768 3 жыл бұрын

Have three kids, cut the weakest one in half

@studentuser101 3 жыл бұрын

Am I weird for thinking that’s an incest joke? Lmaoo

@beasttitanofficial3768 3 жыл бұрын

So basically Myrcella, Tommen and Geoffrey Lannister/Baratheon

@user-wt6zf4ek9k Жыл бұрын

A lot of folks have been going on about a January rally and said stocks that would be experiencing significant growth these festive season, 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?

@oliviaHill-w4e Жыл бұрын

yes, transportation, e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises.

@laszlolee Жыл бұрын

I agree, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a financial advisor and in less than a year I was just $51,000 shy away from $850k which is like 7x more than I make on my own..

@laszlolee Жыл бұрын

Susan Bauer Normansell, my advisor, is a seasoned and knowledgeable expert in the financial market. Her proficiency in portfolio diversity is remarkable, and she is widely recognized as an authority in her field.

@oliviaHill-w4e Жыл бұрын

@@laszlolee thanks for sharing this, I googled the lady you mentioned and after going through her resume, I can tell she's a pro. I wrote her and I'm waiting on her reply..

@EmilyMoore-n7n Жыл бұрын

Researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

@owenjauregui 5 жыл бұрын

Omg, I swear when I subscribed about a week ago, you guys had 30k subs, now you guys almost have 90k. At this rate you guys will reach 1 million suns in no time at all.

@TwoCentsPBS 5 жыл бұрын

Our dream is to have ALL the suns some day! 🌞🌞🌞🌞

@fritz4345 5 жыл бұрын

Don't worry about it. Probably just paid fake accounts from Turkey.

@BarakaGitari 5 жыл бұрын

Could call it compound interest

@mawnir77 5 жыл бұрын

IKR ???????

@antonyelten7394 5 жыл бұрын

Honestly it’s probs because everyone is tired of being poor, so they’re starting to subscribe to a lot of these types of channels that teach about investments and stuff. Just what I’ve observed.

@AlexS-oj8qf 5 жыл бұрын

I think the problem is that back then, when you bought a house, you get a brand new house with modern appliances and amenities, and sometimes you can decide the style you wanted. Nowadays when you buy a house, it's a relic to the past where you have to do work to make it livable up to today's standard, rework the wiring, reapply insulations, replacing old rusty pipes, and you have to pay a lot more to even get a new decent house, that's the thing baby boomer didn't put in perspective when they blame millenials for not buying their crappy outdated houses.

@fixitmann6685 5 жыл бұрын

I wouldn't buy a NEW house, they're total garbage. I know, I work on them for a living. Plastic pipes, total junk heating & cooling systems, very thin glass, walls made of basically paper wrapped around gypsum dust... I'd rather work on an older home that is built solid, even if I have to replace pipes & wires. Once you've done that, USING COPPER pipe to replace galvanized, and copper wiring to replace old cloth wrap or aluminum, you really have something. And if you can do it yourself, you will save a ton of money.

@717UT 5 жыл бұрын

@@fixitmann6685 I don't really disagree with you but there are hack builders now and there were hacks back in the day. Fortunately now, more things are engineered (such as trusses and floor systems) and that can make for a better structure. And yes, with redoing an older home you can save money doing it yourself, but it's a minority of people who have that skillset and it can be very complicated if you do get a lemon house that wasnt built so well.

@vincenttemperino2144 5 жыл бұрын

Rework the wiring LOL...new insulation? ...What house has rusty pipes? True millenial ...all talk an no clue.

@AlexS-oj8qf 5 жыл бұрын

@@vincenttemperino2144 Hey grandpa, go watch This Old House or basically ANY House Renovation shows. Look up for episodes where they renovate house from 1940's to 1960's, the original ones. That shit's filled with Asbestos.

@AlexS-oj8qf 5 жыл бұрын

@@fixitmann6685 I think if you really want to get an old house, better get something that's at least from the 1800's or further back. Yes, they are sturdy, most of them are very ornate, and they have historical value to it. I'm saying houses that's built after the war, where they cut corners to make it cheaper and widely available.

@kristofgriffin384 3 жыл бұрын

I'm starting to think Student Loans are just a way to screw young people over and keep them poor and miserable.

@Melly16yr10 3 жыл бұрын

Same here

@channell11 3 жыл бұрын

The fault lies with their parents. No one sat them down and explained to them how loans work, and how if you're going to take out a loan that it can't be for an expensive vanity degree at your choice university; that you shouldn't use loans to pay for vacations, cars, and furniture, and the impact of compound interest. Any time you take out a loan you have to look at return on investment. Simple fact is there are some people that don't need to be going to college, and some degrees that aren't worth the money. This doesn't even get into the fact that the government getting involved in the loan business causes artificial price inflation, which compounds the problem.

@channell11 3 жыл бұрын

@Luís Andrade That was my point-minimal requirements for underwriting the loans means too many people get them (increasing demand and thus tuition) and they get them for degrees with no ROI and can't pay them back. Government-backed loans caused these market distortions and thus are problematic

@channell11 3 жыл бұрын

@Luís Andrade That's not exactly an equivalent comparison, but fair enough. Yes, the expectation should be on individual responsibility, even though the willingness to blame students/parents for their failures is unpopular these days. It is fair to say that bad policy (guaranteed loans) creates an incentive for colleges to keep raising their prices, compounding the many issues related to the student loan problem. To use your analogy, when you have an alcoholic, it's not a smart decision to give them booze or make it easier for them to get it.

@CardenFinancial 3 жыл бұрын

Student loan have HUGE unintended consequences for our economy. The price of tuition now is out of control.

@McElvinn 11 ай бұрын

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

@sherryie2 11 ай бұрын

I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.

@corrySledd 11 ай бұрын

@@sherryie2 Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.

@AUstinnesc 11 ай бұрын

@@corrySledd That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.

@corrySledd 11 ай бұрын

@@AUstinnesc My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.

@AUstinnesc 11 ай бұрын

@@corrySledd Thanks for the info, i found her website and sent a message hopefully she replies soon.

@mr.d4295 5 жыл бұрын

200k for a house? Here in Vancouver 200k is about a 7% down payment for a house... young people are FUCT...

@VinyZikss 4 жыл бұрын

we are, aren't we? I'm 18 and already fucking worried about everything. Are we really the first generation to be this fucked or has it always been this way?

@nexusclarum8000 4 жыл бұрын

That's what happens when you sellout to Chinese. BC is a Chinese colony at this point. Globalization, multi-cultural fanaticism is the main culprit.

@rjose705 4 жыл бұрын

@@VinyZikss Blame Reagan and the boomers my man. Our generation has it rough.

@habitandoproperty2166 4 жыл бұрын

In Ohio , 25 / 30 k $ , and you'll be a homeowner...

@karisap 4 жыл бұрын

@@VinyZikss It's definitely a rough situation these days (I'm 18 too) but the Great Depression was way worse. No one could get anything close to a stable job and there was a lot of starvation and poverty. But people made it through that so I'm sure we'll be fine too. It won't be easy though.

@kdc.4827 5 жыл бұрын

"It's called The American Dream for a reason, you have to be asleep to believe it."

@KafshakTashtak 5 жыл бұрын

Kristian DC. And if everyone could achieve it, they wouldn't call it a dream. They would call it American reality.

@blackworldtraveler3711 5 жыл бұрын

Kristian DC. That saying is used too much and getting old but you still don't get it. Well you are dreaming if you betting your livelihood on a statement like that from the 50s and 60s when you could get jobs practically everywhere,most stayed married,and could raise up to 5 kids with ease. That's everyone's mistake right there. Kids are expensive. Homes are expensive. So is keeping up with the Joneses,living beyond means,loans for stupid degrees with no trade/skill as backup,divorce rape,weaponized child support,expensive cell phones,new cars,eating out,etc.. You go that route today you will be broke so stop dreaming and be more realistic with your lives. Got to decide on priorities and make choices today. Face the fact that you can't afford to do it all. Glad I'm not financially stupid like this.

@kdc.4827 5 жыл бұрын

@@blackworldtraveler3711 I posted a quote and you started to go off on a tangent, throwing judgments when I didn't even say a single thing about my financial life. Seems like you merely wanted to find a thread to stroke your own ego. But go on, pat yourself on the back.

@blackworldtraveler3711 5 жыл бұрын

Kristian DC. Just more of a broadcast post. Wasn't really directed at you but you did post that old comedian joke so I said "you". Should not even be a problem at all if it doesn't apply to you. I don't speak and write profanities. Everything I said is true and see it all the time. Everybody so sensitive today. Glad I'm not like this. Told my 17 year old niece the same thing and she didn't have an issue ....but she understood. Heck she even been contributing to her Roth IRA since she was 12 and an emergency fund so she is further financially than many adults. And that statement you said is all over the place in these type of videos. Wouldn't be surprised if a dozen or more people posted the same thing on this video. I think a comedian said it years ago.

@Indy4Cookie 5 жыл бұрын

What’s the alternative?

@Yashwin-qm1vk 4 жыл бұрын

After fully watching all TWO CENTS videos .... "Does Living in Earth make you poor? "

@07ikkin 5 жыл бұрын

The 2.5 children part cracked me up...with the half a child...😂 i needed that laugh..I'm leaving now.

@ya_boy_jarvis8307 4 жыл бұрын

The half child means the mom is pregnant

@user-fl3qb4eo2l 4 жыл бұрын

Cut child in half

@nicubalteanu2125 4 жыл бұрын

That half child means it's actually your neighbour's child but you are financially suporting him.

@thecrazeecow1682 3 жыл бұрын

The half child is your dog pretending to be a human

@KrisRN23935 2 жыл бұрын

I was picturing a topless body saying "I want a torso!" Anyone remember that reference?

@rea8585 5 жыл бұрын

I feel our generation will retire in developing countries since that's the only thing we will be able to afford.

@francis-ip8ub 5 жыл бұрын

Quick Fix - Thought Provoking Videos thats my plans, the US is to expensive

@TheFourthWinchester 5 жыл бұрын

Good luck with that since rates are skyrocketing astronomically in developing countries

@meanders9221 5 жыл бұрын

There are many areas in the middle of the US where homes cost less than $100K. No jobs, but you can retire there.

@AP-yx1mm 5 жыл бұрын

Michael Anderson Do they have infrastructures? You might argue well developping are not any better, but still they have younger population so possibly more help/service for you.

@chrissyarlena286 5 жыл бұрын

smartest thing to do to me since the American dollar goes farther in other countries

@ThisisBarris 5 жыл бұрын

Well, this is painting a jolly picture for us millennials.

@ThisisBarris 5 жыл бұрын

But thank you! Thank you for this great video. Home ownership is not necessarily the best choice. There is no difference between paying a monthly rent and a monthly mortgage. You should really compare the benefits and costs of each decision, especially the hidden costs such as the lack of flexibility of owning a home or repairs.

@TwoCentsPBS 5 жыл бұрын

Great to see you in here early (as always) This is Barris! Yes, it's true, there are unique challenges for us in the U.S. right now. We felt it's better to be honest about them so millennials can wisely plan for the future. But even with that said, millennials have many enormous economic advantages over their predecessors. The labor market has changed so much in the past few generations (women in the work force, ability to work remotely, gig economy etc.), leading to new and greater opportunities to thrive. We've all got to adapt! - Philip 👨🏻🤓

@systematic101 5 жыл бұрын

@@ThisisBarris "There is no difference between paying a monthly rent and a monthly mortgage. " but there is. At the end of renting you don't own anything. At the end of a mortgage you own the house. Buying a house isn't good if you're not staying in one place for a long time or financially it's not in your budget. I have met lots of people who get houses way outside of what they can actually afford because the lender approved a huge amount. I had a friend come to me when she was looking to buy and asked if it makes sense she was approved for 320K when she was making 35K a year. I said absolutely not and she should be looking for something no more than 150K. The lender doesn't really care if you can afford it. They just want you to pay for some amount of the time and if you default they get the house as collateral so no loss to them.

@GalryZ 5 жыл бұрын

@@systematic101 If you get fired due to automation, disease, etc or you find a better job somewhere else a home will tie you down. Not everyone will be lucky to sleep next to where you work and have a stable job in this economy. Waking up 2-3 hours before work to get ready because of traffic and the such is horrible for your health down the road and is not part of working...just part of bad decision making. And you don't OWN anything...gotta pay taxes on that. Let's not forget that nasty insurance: Hurricanes, Floods, Earthquakes, Fires, Tornados, etc. Buying a home is for suckers most of the time. Especially with another recession in the next 10 years coming.

@systematic101 5 жыл бұрын

@@GalryZ You know you're still paying taxes when you rent right? Insurance is still a thing with renting too. Buying a house can also be protection against a recession too. Especially if the mortgage has been paid off. Property taxes are significantly lower than any rent. To rent my house would cost about 1500 a month + utilities. The property tax is 3400 a year. It's cheaper to live in my house than to rent a bachelor apartment where I live. As for the waking up hours before work. This is true even if you're renting. Just because you rent does not mean you won't have a commute.

@franklinwenzler6023 5 жыл бұрын

Can’t buy a house on minimum wage can’t afford rent on minimum wage Literally you have to have six roommates just to afford city living that’s not popular like Los angles

@livingaboard 3 жыл бұрын

Or not he a loser with no career aspirations except to stay in a minimum wage job as a career choice

@sms1511 3 жыл бұрын

@@livingaboard In this pandemic and economy you think people are "choosing" to stay in minimum wage jobs? Wild.

@ivanaandric5703 2 жыл бұрын

@@livingaboard Or not BE a loser....

@AxelQC 5 жыл бұрын

Home ownership is an important component of retirement. If you own your home, you have secured one of the 5 major needs in life: food, clothing, shelter, transportation, and health care. Retiring in an apartment leaves you vulnerable to rent hikes on a fixed income.

@charlesphilhower1452 10 ай бұрын

However the cost of maintaince can excede the price paid for the property and In declining areas with high property taxes, more than the current value if the property.

@Pain_Ito 10 ай бұрын

can’t you buy an apartment?

@charlesphilhower1452 10 ай бұрын

@@Pain_Ito It is called a codominium, which is an ownership arrangement, not a particlar type of building. Generally condominiums have Home Owner’s Association (HOA) to maintain and make decisions about how those areas are going to be maintained improved as well as rules of conduct for the residents and visitors. I condominium is only as good as the HOA and how they manage the money and the complex in general, so it pays to get as much information as possible, including rules that may make you less happy living there.

@AxelQC 10 ай бұрын

That's a condo.@@Pain_Ito

@00nehal 5 жыл бұрын

He looks like "Little finger" from GOT !!...

@unstoppableExodia 5 жыл бұрын

Chaos is a ladder

@nidohime6233 5 жыл бұрын

Just a better haircut and a good costume and would be the perfect Little Finger's cosplay.

@Viorin1 5 жыл бұрын

Or Luigi from Mario brothers

@SummerHailstones 3 жыл бұрын

agree

@mikeg9b 5 жыл бұрын

0:25 "Actual home ownership has dropped to its lowest level since 1967." I don't know how much of this is made up for in population growth, but this suggests that demand is falling. If demand is falling, why aren't home prices falling too?

@RatelHBadger 5 жыл бұрын

Demand is still high because new home builds aren't keeping up with the rate of new potential buyers. That and new building quality standards mean new houses are slower to build and more expensive.

@artuselias 5 жыл бұрын

Whether you buy or rent does not affect the overall demand for living space. As a renter, your demand is just transferred to the renters, who buy more flats to satisfy the increased demand for renting.

@itsweaponX 5 жыл бұрын

Prices aren't falling because supply is still low in major cities. Big banks have held onto most of the homes they foreclosed on (since the 2008 subprime mortgage crisis; which was aided by bailout money funded by tax payers) and mainland Chinese elite have been buying up property as a form of investment all over the United States. Prices are high in major cities because demand is high and supply is low.

@gregoryeverson741 5 жыл бұрын

many cities are putting limits on home building so homes prices are for more taxes, we cant even get affordable apartments built

@fixitmann6685 5 жыл бұрын

It's because people can't afford the homes, but CAN live in apartments or rentals or their car! The banks & investors own almost every home in America. Paid for homes are a rarity.

@serenevalor 5 жыл бұрын

You are like my second set of parents that teach me how the world works even though I'm an adult. I love this! P.S. I loved your video on saving for retirement and I've already created my own plan for my future. Thank you!

@TwoCentsPBS 5 жыл бұрын

That's so kind Serene! Thanks for the encouraging words, we plan to keep them coming for a while!

@jj-bu6yb 3 жыл бұрын

Same really :)

@derekyasmar2780 5 жыл бұрын

you can call an apartment your home.... I live in an apartment and I call it my home. Home Sweet Home.

@msv3630 4 жыл бұрын

Do you pay rent or lease it?

@markcarls1896 4 жыл бұрын

Oh, btw, we're increasing your rent by 50%. Gotta keep up with that competition!

@jasonwilkins1969 4 жыл бұрын

@@markcarls1896 Depends on the market. For us, the rent is increasing at 2.7% per term. Since we lock in 2 year leases, we pay an effective rent increase of 1.35% well below inflation. The market is not a high demand area but has some of the best schools in the nation (it just isn't a booming tech capital or major city like many other unstable rental markets). We plan to buy but for now, it is giving us a lot of financial flexibility we otherwise would not have to pay down debt and start saving for retirement.

@xchino0427 4 жыл бұрын

Living in a house is way better then a house

@bradleypollack5658 4 жыл бұрын

Apartments are high as houses in Phoenix.

@NickShvelidze 5 жыл бұрын

Geographic flexibility is very important.

@lt.boltzmann4116 5 жыл бұрын

Gosh you two are good life coaches.

@ro_yo_mi 5 жыл бұрын

I love how excited you guys get when you "run the numbers", I giggle every time.

@Aneldermillennial 2 жыл бұрын

I can vouch for this video being absolutely accurate! My partner and I never thought we'd be able to buy a house so we made a serious deal to save, looked at houses under £150 thousand for a few years and finally found our forever home in a nice area. I'd say if you really want to own a home it takes a lot of willpower, time and knowledge of your future self. We didn't eat out until a year after moving, might have been the best Nandos of our lives!

@eegernades Жыл бұрын

150 thousand is an impossibility here in the states unless it's a mobile home in a trailer park.

@pawpatrolnews Жыл бұрын

Or the ghetto parts of bad cities...

@Aneldermillennial Жыл бұрын

Sorry, I should have clarified. I'm in Scotland.

@mariyastoyanova31 10 ай бұрын

@@eegernades lmaooo, if you think that's a lot, try london.

@maxsnow9952 9 ай бұрын

@@Aneldermillennial compared to the european market the usa one is way overpriced i once saw a guy comparing the prices of usa houses to literal castles you can buy in western europe

@OfficialCalbel 5 жыл бұрын

Such good videos! Such a good channel especially for younger people

@jacobschweiger5897 5 жыл бұрын

Calbel I didn’t think I would see u here

@sandkaabi7221 3 жыл бұрын

سيلزبااليع اس اس فك الارتباط

@whimsy5623 3 жыл бұрын

You see the weirdest people in the weirdest places.

@vavoo4971 5 жыл бұрын

My dad had that exact same moustache in the 80s.

@Lex-Rex 5 жыл бұрын

@@gregoryeverson741 I bet he owned a shaggin waggon van.

@dgerdi 5 жыл бұрын

Gregory Everson They did use such moustaches in Porn until the arrival of intime-piercings. I wonder why? 🤔

@Liz21988 4 жыл бұрын

I’m a visual learner and appreciate that you include drawings and other visual aids in your information videos. This really helps with grasping your teachings. Thanks

@philipp3001 5 жыл бұрын

It's not as simple as just pick up your thing and go when you are renting a house/apartment. I have a contract that in case of breaking the 15 months lease I have to pay 2 months worth of rent and I lose my deposit so basically 4 thousand dollars to get out of a lease.

@markcarls1896 4 жыл бұрын

I was thinking this exact same thing. I fulfilled all my lease requirements, but my landlord STILL WANTS MORE MONEY! I'm going to court because he fucked up my credit score trying to swindle me out of money I don't owe him.

@MicahBuzanANIMATION 2 жыл бұрын

That may be the case, but you're still FAR more flexible renting than owning a home.

@MrRzguitario 5 жыл бұрын

Wow, this is probably my favorite PBS KZfaq series so far. Hilarious and educational at the same time!

@TwoCentsPBS 5 жыл бұрын

Thank you so much!

@levib0057 5 жыл бұрын

And (unlike Idea Channel and Game Show) they aren't shills

@ModMINI 5 жыл бұрын

It helps also that you two are adorably cute. Thanks, subscribed already .

@Watch-0w1 5 жыл бұрын

This video should be show to high school student

@aaron___6014 5 жыл бұрын

Because high school students think about home ownership, not. They need to overcome the desire to buy every cool item they can find the money to buy.

@noodles1291 5 жыл бұрын

murcielago Batman I’m in high school and I love these videos they help me plan for my future and I’m thinking about investing soon

@sarvagya-sharma 5 жыл бұрын

@@aaron___6014 Actually not. I am a high school student.

@blackworldtraveler3711 5 жыл бұрын

murcielago Batman Most will watch this and still remain financially stupid and lack common sense.

@monkeyloven 5 жыл бұрын

Yes, great idea. They don't teach kids anything about money in school. Luckily I figured it out because my parents never gave me money and I babysat and worked at a young age when most of my friends didn't. I talk to my kids about money all the time because my Parents NEVER did. Why do people hate talking about money, I don't mind it.

@ellisonrhea4854 Жыл бұрын

According to this, I wasn't ready to buy my house when I bought it! But it was a golden moment in the economy-- I got an *unreal* deal on my amazing house with a great interest rate to match. I have no regrets and plan to live in my home for a long time before selling it for a significant profit. I think the options at hand should play a bigger part in the assessment of whether to buy. 🤠

@Mafias815 4 жыл бұрын

Owning a place to call home, something as simple as that, can get really depressing when you consider the money needed.

@LordSlag 5 жыл бұрын

...also, wages have been flat for 45 years and everything has gotten more expensive.

@jjohnston94 5 жыл бұрын

It's hard to believe that at one time, a man could support his entire family, including a non-working wife, with a blue-collar job.

@CarlosRomeroconnect 5 жыл бұрын

@@jjohnston94 that was only a short period of time and unsustainable. ~50s - 70s. The economy needs to grow. This would never happen with an economy dependent on blue collar jobs.

@10aDowningStreet 5 жыл бұрын

@@CarlosRomeroconnect What happened to leaving a better world for your children? Seems to me like corporations and a few super rich families and to a lesser extent baby boomer general population absorbed all that missing wealth and have clung on to it. Wages are lower in real terms now, the value of things has stayed roughly the same, younger people are poorer so older people can be richer. Recent generations got left with the bill for their cosy lives, in fact they even got forced into debt slavery. One generation shafting their children, stealing their quality of life & their freedom - that's the real American dream.

@CarlosRomeroconnect 5 жыл бұрын

@@10aDowningStreet quality of life is over all better. Maybe not ideal, but better. Increase in life expectancy, education and diversity. Student debt is at all time high but return on education investment is as well.

@jjohnston94 5 жыл бұрын

@@CarlosRomeroconnect I would argue that return on education investment is NOT at an all-time high. What is the return on education investment? Salary. Higher salary. And salaries are flat, while the cost of education continues to outpace inflation.

@ResaleRabbit 5 жыл бұрын

You forgot to mention that Ramon didn’t pay rent for 3 years. He broke even, but had he paid rent for 36 months (say $800 per month) he wouldn’t have broken even. He would be around $29,000 in the hole...

@joshman501 3 жыл бұрын

Exactly! Most people don’t think about that. Renting a apartment is just throwing away money.

@tuyetphong 3 жыл бұрын

@@joshman501 not really. You have to see renting as another aspect of living, like eating or drinking. Renting still provide you with a place of shelter so it's sustaining your life like food or water. You don't count your grocery cost as "throwing away money" right? It's like that with renting

@BillboMC 3 жыл бұрын

That’s a good point! But what if he invested his 30k in stocks at 7% instead of using it as a downpayment

@pjras9361 3 жыл бұрын

Right! And those repairs that the landlord does to your home aren't free. They'll turn right around next year when your lease is up and raise your rent to cover those costs.

@MrKrusten 3 жыл бұрын

@@joshman501 The big advantage of renting apartments is the fact that you are free to go wherever you want, which i consider a luxury. If you buy a house, you are stuck in that house, in that neighbourhood, in that town for the next years and more likely decades. How many people want to make that commitment, to live your life in the same place for such a long time? I dont. I hate the idea of that, which is why i live in apartments.

@ft9kop 4 жыл бұрын

I was luckily enough to get a decent job in my home city so I can live with my parents to pay my school debt and save for my down payment. I'm also super frugal

@Ufu4847 3 жыл бұрын

Dr. Johnny Sins Someone jealous?

@paolahernandez6733 5 жыл бұрын

Honestly, I don't know if I ever see myself being a homeowner. I may consider it later in life, but right now, is just not the right time.

@paolahernandez6733 4 жыл бұрын

@Grimmy Rippy Lol, I'm still in college full time and work part time, I don't think I'd be approved for a home loan anytime soon. Or at least not til I get my bachelor's and master's degrees and have a full time job for at least 2 years. Plus this is like the 3rd end of the world I've survived, I think we're going to be fine.

@paolahernandez6733 3 жыл бұрын

@Aiden Pearce I still live with my parents and I'm pursuing a bachelor's degree, and not in debt. I have to go to graduate school becaus I want to be a child psychologist. That being said, I will save up as much as I can to move out by age 25, and owning a home can wait until I'm in my 30s or 40s (when I'm stable into my career and have a solid full time income)

@paolahernandez6733 3 жыл бұрын

@Aiden Pearce I know, just wanted to put it out there.

@phoenixsx1 5 жыл бұрын

The real estate home prices are a run away train, with everyone being greedy to get the most out of their house, with people making less money, interest rate on the raise and inflation..... I would suggest stay far away from purchasing a house let the market implode on itself we are already in a second bubble

@monkeyloven 5 жыл бұрын

I second this statement!

@nekotfarmer 5 жыл бұрын

I had to scroll wayyyy too far to find someone else with actual market sense.

@pawsnotclaws2772 5 жыл бұрын

The Smartest Guy In The Room great advice!!

@Butterffinger5678 4 жыл бұрын

They sure are. One house I saw about 35 minutes north of downtown, in a fairly rural area, wanted $402K for a new house. It had 3 beds, 2 baths, and in a new neighborhood on an average size lot without a back and side fence. The size of the rooms and common areas were too small for such a price.

@j-rb6363 4 жыл бұрын

This comment has aged well.

@Zelmarked 5 жыл бұрын

I'm going to buy a van with solar panels on it. Nu Murrican Dream.

@thedevilsadvocate5210 5 жыл бұрын

How will you ever go to the bathroom in peace?

@Zelmarked 5 жыл бұрын

@@thedevilsadvocate5210 Curtains on the windows.

@noodles1291 5 жыл бұрын

The Devil's Advocate public bathrooms or shared spaces

@blackworldtraveler3711 5 жыл бұрын

Zel's 4K Emulators and Archive Too late for you if that's your American dream. I did that when I got out of high school and went to tech school. Pee in milk jug,sink bath in gas station,worked full time. I didn't get anyone pregnant having kids I can't afford. Just study,no life for 3 years,ramen noodles,waking up to ice,police flashlights,etc.. I make $160k a year now and never heard of this American dream because it was something said in the 50s and 60s. If your living like those days no wonder you're broke.

@Lex-Rex 5 жыл бұрын

That's probably about the only way to save the 20 percent down money and that is if your van is paid for. The average cost for a decent high-top van with low miles that has not been destroyed by contractors is around 25 grand. I did the "van life" for about 10 years and it is not for everyone I can assure you that.

@MonkeyBall2453 4 жыл бұрын

"travel is more important than home ownership" Well, that makes sense.

@markcarls1896 4 жыл бұрын

To who?

@MrRocksW 4 жыл бұрын

@@markcarls1896 the oligarchs

@michellemarie1197 4 жыл бұрын

How is travel more important? Traveling is overrated

@Doors067 4 жыл бұрын

@@michellemarie1197 hell yeah

@beasttitanofficial3768 4 жыл бұрын

@@michellemarie1197 owning a home you'll be paying off for decades and is never really yours while you're done paying for it is also overrated.

@adventuresincreativesoftwa6283 5 жыл бұрын

I just have to say... both the production quality, and the content of this channel is off-the-charts good. It absolutely deserves to reach millions more viewers than it already does.

@naefaren3515 5 жыл бұрын

I love when you guys run the numbers, it’s my favorite part as well. I love seeing the truth in numbers along with hearing it.

@pomragrahamate 5 жыл бұрын

Great video! I also think that the location someone lives in plays a huge roll. My BF and I got a beautiful 3 bedroom for $230k in a more rural area, and we have almost no yearly maintenance fees, other than upgrades that improve the value of the home, since we were diligent about the inspections. Our combined mortgage, taxes, and insurance are equal to the rent most people around here pay for a 2 bedroom apartment. However, my friends who live in the city downstate are paying 3-4x my mortgage for rent alone, and owning property is a pipe dream for them. I honestly think millennials should be getting the hell out of cities and moving to more rural areas where their skills and influence are needed!

@ModMINI 5 жыл бұрын

Probably a smart move. People go where the jobs they want are choose places for the lifestyle they want. Millenials, more than any other generation, want to avoid a car-dependent lifestyle. I don't see this problem getting better any time soon.

@fixitmann6685 5 жыл бұрын

There won't BE any rural areas left if the population keeps increasing! We'll be living in Caves of Steel (SF reference.)

@andrewriker2192 5 жыл бұрын

I live in a more rural area and commute to a city. I'm lucky that an hour commute means saving 1/2 the living costs, but my skill set would only earn me 1/3 my income if I worked in the same small town I live. So not all skills are transferable.

@Lex-Rex 5 жыл бұрын

PommeG03 - Where? In tornado alley Kansass or Oklahoma?

@pomragrahamate 5 жыл бұрын

Neo Smith try upstate New York?

@AdisaKola 2 жыл бұрын

This problem is not just in America, it's also in Europe. Especially in Ireland. Prices of houses are very very expensive especially in Dublin, it's hard to save when the rent is so expensive 😫

@Salisbury2015 3 жыл бұрын

Very informative! I wish they had done a head to head comparison of the costs of renting and retirement investing vs getting a home mortgage. Also, condos are another option with relatevely lower maintenance costs they could explore in future videos.

@samuelsofa 5 жыл бұрын

I’m fine living in my parents basement playing monopoly for millennials

@zsurvivalist7996 5 жыл бұрын

Gross

@johndavolta3124 5 жыл бұрын

That makes you a looser PERIOD

@TheNico6384 4 жыл бұрын

Zsurvivalist and John Davolta, if he's safe and if the relation with his parents is healthy, it's OK. Why are you judging? Do you have a house? Are you even 18 to say things like that...?

@mweezy 4 жыл бұрын

@@johndavolta3124 How does that make him a loser? He has the chance to save up money and enjoy life.

@johndavolta3124 4 жыл бұрын

@@mweezy if he is living with his parents because he is too lazy or afraid of living on his own, then yes, he is a looser. No excuse for laziness. That's why millennials are the worst generation ever. When I was 17 I had already moved out (to another country) and started my own life.

@KTSpeedruns 5 жыл бұрын

It's important to remember that treating a house like an investment means you expect some sort of gain from it later. If you plan to gain money from your home, that means you plan to sell eventually, so maybe don't buy a home you'll be too attached to. Also, if you plan to move in 5 years, but your mortgage is for 15+ years, then you're essentially renting instead of buying. You don't truly own your home until you've paid it off. Otherwise, the bank will come and run you out. I used to live in a house, but the interest rate was jacked up so high my mom couldn't pay the mortgage. Out we all went. If you plan to stay at a house forever and pass it on to your kids in your will, then treating it like an investment you plan to make money on isn't very wise at all.

@baizawai 5 жыл бұрын

did you not have a fixed rate mortgage?

@LastBastian 5 жыл бұрын

*"If you plan to stay at a house forever and pass it on to your kids in your will, then treating it like an investment you plan to make money on isn't very wise at all."* -How is that? Having the option to pass on a small fortune to your kids is still an investment. *"if you plan to move in 5 years, but your mortgage is for 15+ years, then you're essentially renting instead of buying. You don't truly own your home until you've paid it off"* -Huh? You may not own it outright after 5 years on a 15 year fixed loan, but you will have equity. You still sell the house for more than you owe, which puts money in your pocket when you walk away. ...unlike renting.

@blackworldtraveler3711 5 жыл бұрын

Reiden Lightman Never occurred to me to think of my home as an investment since I already had investments. I just like the gated Italian style condo community with security,two car garage,and a place in low crime area I could leave for days,weeks,or months and not worry. Best schools and university near. River parks,bike/walk/jog trails that network everywhere,etc.. Paid of 30yr mortgage in 9 years which was my goal. Appreciation was by default.

@KTSpeedruns 5 жыл бұрын

baizawai I don’t know the details of that mortgage. I was probably 6 when I moved into it. I didn’t ask about that.

@crybebebunny 4 жыл бұрын

I really like that you put the "BRILLIANT " Ad at the end and help me learn or think of how it was connected to the original content of your VIDEO.

@chronictwister 5 жыл бұрын

Credit score of 760 is hard when you don't take on any debt like credit cards, or car payments

@adjrnyc1 4 жыл бұрын

Just use your credit card for all of your small purchases (morning coffee, commute etc.) And pay it off in full, and make sure that you're never late in payments at all (one late payment can set you back for years). The key is utilizing no more than 10-15% of your total available credit. It will take some time (anywhere from 6-15 months),but that's the best way to build your credit. Though this assumes that you dont already have a bad credit score.

@simplestatic3751 4 жыл бұрын

If you get out of debt, your credit score becomes non determinable. With a N.D. score, a mortgage company who underwrites manually will give you a mortgage if you have good rental history.

@edkennedy7952 4 жыл бұрын

Not to sure where she got that number, I was told 660.

@evm7272 4 жыл бұрын

You can use credit cards without accruing debt... credit score from credit cards comes from account history (how long youve had that credit card), credit utilization (what percentage of the limit youre using [higher is worse]), and repayment of borrowed money (if you immediately pay back what you used the credit card for, youll still get the credit points without the bad debt with interest. I.E., you have 100 bucks in your checking account. You buy a 20 dollar pair of jeans with your credit card ONLY because you have the 20 in your checking available to you already. After a few days, you call the card issuer and pay off the balance. No interest, no debt.) Dont be uneducated about debt/credit cards. Its a tool just like any other. You can drive a nail with a hammer if youre smart, or you can bash your own face in with it if you want.

@simplestatic3751 4 жыл бұрын

@San Diego even though you pay off the balance before the date and the credit card companies dont charge interest, you are still in debt.

@norma8686 5 жыл бұрын

Having your own home (if you can afford it of course) gives you a sense of security, no matter what happens there is no landlord that can throw you out on the streets just because he decides that he needs the house back and you don't have a place to go. Happened to more people than you think, heard of people, even elderly and sick, that had to live in a car because they couldn't afford to rent a house and the previous landlord threw them out because he decided he wanted more money.

@d_all_in 11 ай бұрын

The market determines the price of rent. You need to watch more videos on basic economics.

@marioreglin5995 4 жыл бұрын

I don't know why this videos with these 2 guys are making me feel back in the 80's

@robtheslob5264 5 жыл бұрын

I like how your videos are concise and informative, without needless padding or repetition.

@mattg2306 4 жыл бұрын

I remember in high school how many friends, teachers, and counselors were advising against enlisting in the US Army. Now I’m working on my degree and, when I’m ready, have the ability of using my VA home loan for my first house. I’m far from perfect, but I feel rather secure about my future. The more a young person thinks about their future, the better off they’ll most likely be. It becomes harder and harder to bounce back from difficulties the older we get, and I feel like many young people will never actually recover and die in poverty, or on the threshold of it. Very sad.

@shadbakht 5 жыл бұрын

Love your videos. Each one is so helpful! Some of us dream about buying an acreage out in a small town somewhere to live self sufficiencly and semi off-grid, maybe even a permaculture. Can you do a video on that please? Could one quit the 9-5’s and retire early?

@TwoCentsPBS 5 жыл бұрын

Thanks Shahrooz! A self-sustaining acreage sounds amazing - don't let go of that dream! And yes, "early retirement" is most definitely a topic we plan to tackle in the future.

@fargoloomis3569 5 жыл бұрын

Shahrooz Shadbakht already doing it. I work 1/2 the year and travel the other 1/2.

@shadbakht 5 жыл бұрын

@@fargoloomis3569 That's awesome. It'd be nice to have a video breaking down all the numbers of starting one, operating, and living on one. I've watch thousands of videos talking about how nice it is or how they grow food etc, but not actually get into the money aspect, costs, how much income needed, where does income come from, how much money you'd need to start and how much money needed to sustain such an enterprise etc.

@monstermushmush 5 жыл бұрын

It's like economy for kids. Perfect. THANKS FOR MAKING EVERYTHING SO EASY TO UNDERSTAND!

@ImVeryBrad 4 жыл бұрын

Im 33 and have been a home owner for about 8 years, wish i would have saved more for a down payment and payed off more principle before having kids. I dont have any debt other than my mortgage but i still feel it really hard to get ahead even though i make a really good wage. Everything costs so much nowadays, feels defeating

@barrieliving 3 жыл бұрын

Yea but imagine renting for the past 8 years man. Where would that money be? And getting evicted with your kids because the landlord wants to sell and capatilize on this hot real estate market. If home ownership and real estate was easy anyone would do it, but it's not, and that's why those that own and the landlords that have properties and the ones who have the best outlook on the future

@roaminggnome6878 3 жыл бұрын

Well this is freaking depressing. Love how cheery she sounds when she basically says there's no hope for me...

@channell11 3 жыл бұрын

There's always hope. Every generation has some sort of issue. My dad told me about the woes of buying a home in the 70's and 80's when double-digit interest rates were the norm. Military service can help with not only the student loan repayment but also access to VA loans with no down payment. The raw deal millennials got was their parents telling them they were special and needed to follow their dreams, and then the government swooping in to give loans to people who shouldn't be going to college to get degrees that weren't worth the paper they were printed on. There's still a lot of opportunity and hope for those that make good decisions and put in the work, and it's never too late to change one's path.

@swil.wilson 3 жыл бұрын

Yeah - kind of glib for my taste.

@yourlilemogirl 5 жыл бұрын

Ok so...never owning a home in my lifetime. Got it 👌😓

@mathewwillner1 4 жыл бұрын

I am so supremely screwed... according to this channel with my 3 jobs I will never be able to own a home, or even retire. Wtf am I supposed to do?

@JTTechie 5 жыл бұрын

binge watching here. your videos are really great!

@nononsensetaken 4 жыл бұрын

The content, real life examples and the classic style is a lifesaver in this day and age

@perryizgr8 5 жыл бұрын

Importance of travel seems to be unrelated to the increase in the pressure to travel for better opportunities.

@WilliamMohamad-uv5fi 4 жыл бұрын

@Dacia Sandero guys you're sad and alone

@dankwon100 3 жыл бұрын

Thank you for breaking down buying a house! The animations really help me being a visual learner 😂

@CardenFinancial 3 жыл бұрын

Purchase a home when the time is right! When a get a mortgage get either a 15 or 20 year. You'll save so much money in interest compared to the traditional 30 year mortgage.

@greg-iw7mf 2 жыл бұрын

you can make up the interest with the home's appreciation.

@CardenFinancial 2 жыл бұрын

@@greg-iw7mf Good point, but It depends on when you sell it. Most people buy a house and sell it again after 8 years. After you factor in interest inflation and closing cost most people don't make much money when they sell a house.

@greg-iw7mf 2 жыл бұрын

@@CardenFinancial true. I guess the hack is to live below your means and buy a house below your budget

@BangBang-hk4rg 3 жыл бұрын

I put a decent down payment on my house and did a 20 year mortgage instead of a 30 year. I ended up paying it off in 18 years just by paying a little extra towards the principal whenever I could. It’s an awesome feeling. 😁

@DXmYb 3 жыл бұрын

That's excellent, you could retire very soon. Seems like you were financially literate well before the internet helped us Housing costs are 75% of my expenses. I'd love to make them non existent!

@bsm6776 2 жыл бұрын

Interest rates are low. Better off with 30 year

@iirekm 6 ай бұрын

In 2023 due to high prices and interest rates, almost everywhere in the world, the question isn't "should I?", but "why the hell can't I afford?".

@RealLifeMoney 5 жыл бұрын

Great points guys! The idea of the American Dream has definitely changed. Having home ownership as an option rather than a necessity is a good way to think about it 😀

@glennh3937 5 жыл бұрын

This is fantastic. I appreciate you using your knowledge to fill a gap in our education systems. Thanks for working to make us better!

@mentalhealth1897 4 жыл бұрын

Just found you guys this 2 days and i superrrrr love it! I wonder why theres so less subscriber ? You guys worth more than 20M subs

@IgorBagayev 5 жыл бұрын

But you're not counting how much Ramon would pay for renting the appartments

@KidSnatchhy 5 жыл бұрын

Bought a house 648/month mortgage finish basement live out of it and rent rest of house for 1100/month = GOLD.

@jj-bu6yb 3 жыл бұрын

Thank you so much! I never seen such genuine people like you! Although I’m Europa I look up at you as role models! thank you so much for you content. You guys touching many souls

@raymondwhitehouse9922 5 жыл бұрын

I love your You tubes and they applie to the UK 🇬🇧 so much, I share your films with neighbours, friends and family great work guys and thank you 👍

@manyltef9811 5 жыл бұрын

your primary residence is never an investment. investment by definition simply means putting money in your pocket . PR takes money from your pocket. if you count on appreciation, this is called speculation. But even if you sell is double your initial price, you are going to buy 2 houses... to meditate !!!

@Diiimonds4Evr 4 жыл бұрын

Facts

@chocoholictan 3 жыл бұрын

I guess the system might differ in some aspects because I'm from a different country, but I learnt from how my mother did it; she bought a home that after a couple decades have tripled in value. She then sold it and buy a much much cheaper house, hence she profited from the first home. At least that's how we do it in my country.

@chocoholictan 3 жыл бұрын

and I mean, considering the alternative of having a home is paying rent, you are literally burning money. The money you pay for rent will only produce temporary accommodation while paying for a house mortgage means your money is STILL there, just not in liquid form. I'm not saying everyone should buy a house but these are also important fact to consider.

@jonathansabinvarietyfilms 11 ай бұрын

I can understand this video being made currently, but when you consider this was made in 2019, pre-pandemic, buying a home was the only logical choice. Whether we're talking a small manufactured home or a large house the difference in price and interest is in the tens of thousands, which translates to far more when invested. Just seems strange to sell it as a toss-up, pros and cons, when pre-2020 in most cases it totally wasn't.

@0IIIIII 11 ай бұрын

Yep. Lessons learned, renting is, always was, and always will be, for suckers. Hopefully nobody took their advice. Renting is for poor people.

@nelsonbarbosa5178 5 жыл бұрын

This show is amazing! The production the animation the concepts, everything is very professional. Thank you for sharing!

@nelsonbarbosa5178 4 жыл бұрын

@@phatcrayonz so to your opinion, who is the best?

@jrbqto 4 жыл бұрын

You're video's are pretty awesome. I am a Millennial and for the last year I have been saving to purchase my first home. I don't think I'm doing to well tho, since I use my credit cards more than I should. Your videos are helping me understand where the problem is, and what the solution can be. Thank you for these!

@tristanmcreynolds999 5 жыл бұрын

I always wanted 2 children and a half of one laying around my house!

@quinnmoore5985 5 жыл бұрын

3:01 20% would be nice, but people my age don't have 10-20k to blow lol. A better option is doing an FHA loan, putting 1% down and still get a nice interest rate of like 4%

@peterbogardus5209 Жыл бұрын

Rural Development is also a good option in much of the US

@bubbleslovebird4974 9 ай бұрын

I didn't buy a house. I purchased an airstream camper. Been fixing it up so I can live in it. Just need electrical and plumbing done to it and I can live in RV parks for under $500 a month. That includes electric water and some places Internet.

@myleswilson2 5 жыл бұрын

This is the sort of stuff I wish I was taught in High School. Great Videos, please Keep these coming.

@goldfishcrayon 5 жыл бұрын

Didn't get the best loan terms (only had 3.5% down, 30 years) but we got a comfortable 3 bedroom house in the Midwest for $750 a month with the mortgage insurance. Rented a 2 bed duplex in same area for the same price. So the investment is still worth it from a quality of life standpoint... If you can afford to rent you can afford to buy as long as you have the savings for emergencies and home improvement costs. We also got a great deal on the house and planned on moving in 3 years so even though it's less than 5 the housing economy is in our favor right now.

@cjwoods1 5 жыл бұрын

goldfishcrayon ugh I miss the Midwest. I moved to New England and you can’t get a box under a bridge here for less than 250K. Even rent ranges from $1400-$2500/mo.

@jesusbalderas329 5 жыл бұрын

life is a tricky trade-off. Getting old requires careful financial decisions . Jobs are not security for too many.

@Arrbee2016 5 жыл бұрын

Who the hell lives in Midwest. The cold bites you like a dog with rabies

@jason_v12345 5 жыл бұрын

@@cjwoods1 I'll see your $250k and raise you an _additional_ $300k for a box in Southern California.

@levib0057 5 жыл бұрын

@@Arrbee2016 Wear more layers then

@jonathanwood9543 3 жыл бұрын

I liked the points they raised about how the economic landscape has changed for millennials, but I wish the example was more relatable.. where are you finding a home for 200K?? Good luck living anywhere near civilization.

@CheerfullyNihilistic 3 жыл бұрын

Texas

@Buttlather 3 жыл бұрын

lol seriously? Where do you live, that 200k seems fantastical to you?

@channell11 3 жыл бұрын

So you might have to commute a little. Where I'm at the rural area (with many homes below 200K) is a 30 minute drive to the capital city. If you want to save money, you're not going to be able to live in a trendy, downtown spot. Before I moved out to the country, I lived in a small rental house that was 15 minutes from downtown and worth maybe 140K. It wasn't in the most desirable neighborhood, but it was convenient.

@omgamber1234 3 жыл бұрын

It's called the midwest

@AlexeyRome 5 жыл бұрын

Wow this production value is unreal. Top notch you guys. Can't believe you only have 93k subs

@satoshiaoki 4 жыл бұрын

Another concise and informative video! Thanks Two Cents.

@diegovenegas2614 5 жыл бұрын

I really like 2 cents, thanks

@ItsGroundhogDay 5 жыл бұрын

I had this same question and put it off for far longer than I wish I had. It's cheaper than renting, and you are building equity as long as you don't use your house as a bank account. I'll have one of my main retirement assets when it comes time to do that, and I won't be throwing away money on rent for the rest of my life with nothing to show for it. It is smart to consider that you shouldn't be like most Americans and not be able to afford a $400 emergency, which is just playing with fire whether you own a home or not.

@obits3 5 жыл бұрын

Not That Guy - Yep, you have to pay for housing no matter what, so the return on investment for a home you live in only has to be slightly positive to win over renting assuming you don’t need the freedom of movement renting provides.

@FrozenMangos1 5 жыл бұрын

I’ve had a different experience - in the first 5 years you’re essentially just paying rent to the bank because all or almost all of the payments go to interest. You finally get some return on investment after that, but you also have to cover the cost of maintenance which can be exceptionally high when it comes time to replace a major appliance or roof - or fix a structural issue that inevitably arises as the house ages. And if the market tanks (as it did after I bought in 2007) then you’ve lost an absurd amount of money.

@CarlosRomeroconnect 5 жыл бұрын

Especially for millennials and where they live, renting is cheaper. Crunching the numbers you need to live in your SF home 9 years to break even vs cost of renting. This is considering average rent and average house price. Economic mobility can actually lead to higher income. Gives negotiating power and reduces transportation cost.

@fixitmann6685 5 жыл бұрын

@@obits3 Well, actually you do NOT have to pay for housing, you can head for the woods & live in a tent. FREE. You also will not have utility bills that way. You could also get an old travel trailer & truck, and simply park it somewhere, and live in that. I do NOT see why people even need to live in cities with "ownership" of everything (by the bank.)

@andrewriker2192 5 жыл бұрын

FrozenMangos1, this is what I was thinking. Thank you for sharing. A house is a commodity with upkeep costs, not an investment. Maybe you'll get lucky and sell when the value is high, but just as likely even if you don't have to sell in a recession, you might have to sell before you're over water.

@cyrolast5332 4 жыл бұрын

I love PBS man. Not only did they give children shows who couldn't afford cable. But now they are education us through in our older days thank you PBS.

@cyrolast5332 4 жыл бұрын

Favorite show was curious george

@othersideofreality7538 5 жыл бұрын

Guys, you are perfect in these subjects, keep up the good work!

@ashwins427 5 жыл бұрын

You both look beautiful together🤩

@Shreendg 5 жыл бұрын

I'm motivated to keep a moustache thanks to this dude.

@TwoCentsPBS 5 жыл бұрын

Then my work here is done. - Philip 👨🏻🤓

@TheFourthWinchester 5 жыл бұрын

@@Shreendg keeping a stache is obviously better than not having one. How does he motivate you, since you're an Indian?

@izzy4reel 5 жыл бұрын

Yes, you guys are super cute (and super wise!)

@Shreendg 5 жыл бұрын

@@TheFourthWinchester facial hair was never a problem for me exactly. Just shaving clean for a past few years out of habit.

@nplowman1 5 жыл бұрын

Is the 20% down payment still a realistic goal for a first time home buyer? For a 200k house that would be $40,000, which is absolutely insane.

@baizawai 5 жыл бұрын

I did. My parents were kind and let me stay while saving though and I guess I saved about 32k ish. The 20% is mostly important to avoid PMI imo. But you can also get rid of PMI once you have 20% equity in a house. I wish they spoke more about the loan types and PMI for ppl still wanting to buy.

@mrfld 5 жыл бұрын

In 2009 and 2016 I had homes built. The first home required 0% down for a 1200 square foot home. In 2016, only 5% was required but the house was 4300 square feet. There are different types of loans for different areas of development. If you don't put down 20%, you have to pay loan insurance of about $200ish to protect the bank should you default. Once your loan is 20% paid off, the loan insurance charge goes away.

@jesusbalderas329 5 жыл бұрын

nplowman1 $40k in hand would take care of debt for a lot of people.

@T1Oracle 5 жыл бұрын

@@baizawai So you didn't pay off student loans before taking on $200k of debt?

@jrg305 5 жыл бұрын

If you live at home you save on rent for years.

@Kenji000 5 жыл бұрын

I love this series. I cringe at how corny it can be, but I appreciate how into it you both are -- dorky or not

@maxonmendel5757 5 жыл бұрын

Thank you, Two Cents! These videos are so important. You all are doing great work. Is there a video here about stock market investing? I hope to have a house one day. the American dream is real in my heart, mostly because I moved around so much when I was young and I dont want that for my kids

@Melly16yr10 3 жыл бұрын

Wonder if building a home from shipping crates would work or a bus home. just an idea.

@LCCWPresents 2 жыл бұрын

The problem is legal restrictions in the USA. If you build a shipping crate home in town or illegally, the city has a right to force evit your house for not keeping up with the codes of the nieghborhood. And most jobs and services require that you have a permenate address to refer back to making bus homes unpratically unless you live in a trailer or mobile home park.

@Melly16yr10 2 жыл бұрын

@@LCCWPresents I see so thats how it works

@TTVZicaZachh 5 жыл бұрын

Weed is becoming legal. Tiny homes are now a thing. Welcome to the 20's the new 1960's-1970's. Everything is way too expensive. Can we do a should you get married 2018?

@opinionatedbachelor5803 4 жыл бұрын

Dude, your eyebrows are unique. They become funnier when you raise them. Btw, thank you for the video. I was having this conversation with my friends the other day and I was trying to explain them the benefits of renting a home then actually buying it.