Sell Before the Economy Crashes?
2024 ж. 14 Мам.
353 937 Рет қаралды
💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
incredible, a fantastic start to financial independence! How can I contact your FA.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Colleen Rose Mccaffery” for the last five years or so, and her returns have been pretty much amazing.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
Buy your house and live in it. A house keeps the rain out. It gives you somewhere to store you stuff, cook your meals, bathe and sleep. That's its value. The price may change with time, but the value never does. We get too hung up on price and forget all about value.
Maturity
Absolutely
I will exchange my house (sell and move and buy another). But as far as sell just to beat the decline....nope. Realtor fees and moving expenses makes it not worth it.
@@cdsersd2d Ha! Realtor fees! I'm in Australia. Over here we have stamp duty (tax) on the purchase of a house. And houses aren't cheap, either. An average house in Melbourne is $1m Aud. The state government wants about $55k on top of that, then you've got your legal fees, moving and so on. And then you've got the 2+- % that the real estate agent is going to charge you on the sale of your existing house + advertising etc. You drop close to $100k on the exchange, really quickly. That's above the average wage here and well above the median.
Nobody owns real estate you rent it from the government. I know many people who have a house with out a mortgage whose taxes are higher than the mortgage payment used to be. Stop paying rent to the government & you will find out who really owns your house.
Absolutely. It's essential to stay vigilant and not let fear dictate our decisions, but it's also wise to be proactive in protecting our investments.
Good point.. the market has been crazy lately, a few surprises here and there.. with all the global happenings taking place I think it’s safe to say that a severe global recession is looming..
Oh yeah! You can definitely say that, it does worry me a bit, but not as much as it would worry the average guy, my investment portfolio has survived a couple of recessions unscathed.
Been privileged to be guided under the stewardship of an extremely gifted investment manager by the name ERIC PAUL ELMER
Oh really ?! Tell me more!
Sure.. Eric Paul Elmer has a really unique gift of being able to looking far ahead down the road to spot future investment portholes and possible major mishaps, so he helps me make the safest investments and also helps me hedge all my investments against possible future downturns
You would be absolutely INSANE to sell now when you have a 2.5% mortgage only too buy a new house elsewhere at 5.5% +
Some people have to move for a job or a school they have no choice.
Mine is 6.6 percent 😩
5-7 percent is normal. It’s the 2-4 percent rates that were abnormal, so yes, keep the low rate. 😂
@@FortuneSeek3rz they can choose to to not relocate. Everything is a cost/benefit analysis.
Well they are relocating! We will do the same in 2 years. We know the interest rate will be higher than our 2.25% but when my husband retires from the military, we are relocating. We knew this wasn’t our forever home, nor location but it was a great buy and our home is up between $80k and $100k in value.
I quit reading the internet 4 years ago, my life is so so much better now.
Lol I am trying to do the same but it’s hard how did you do it? I deleted my instagram but i am on KZhead and Facebook can’t let go
@@Hello-iz9hl I quit with politics and the news including most KZhead and articles on the topic. I actually haven’t watched TV in 15 years, just KZhead.. Then I quit clicking prepper videos and the ones that talk about the economy crashing, doom and gloom. I don’t care to hear about it from friends and family either. I replaced all that with what my current interest or hobbies are. I’m into camping and camping trailers, also woodworking and many other topics. So I just focus my time on positive interest and I’ve become happier. Quitting the news was the best thing though. I still have instagram and can choose who to follow or not.
Well, you're still watching KZhead lol
Ignorance is bliss until what you are ignorant about catches up with you
Isn't this the internet?
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I bought a house to live in. Not a house as an investment. It's been paid for since 2017. I could care less what the housing market does. I have 100% equity.
Bingo, its that selfish greedy mindset , borderline a strange ego chemical in the brain that constantly needs feeding lol strange
So true. And if your are not planning on selling it anytime soon, it would be better for your house to drop in value so that your property taxes go down. A high value home means nothing if you aren't planning on selling it. Other than that, I'd rather have a home that goes down in value to keep those taxes down.
couldn't***** Americans....
Even if the market does go down, if you wanted to move you're buying in the same market anyway.
Expensive homes hurt everybody except for the banks, real estate agents, insurance companies and the property taxing districts.
Buy the house for the house. Sell the house when you are done using the house. It is your home, not a "trade".
Nobody owns their house, big bro does.
@@08turboSSI own my house. So do millions of other people.
Dave! I enjoyed this content. Although I have been watching less yt and doing more research. I foreclosed on my house and my retirement contributions are not making my 401k any better, should I buy popular index funds in a brokerage account, is this a better alternative to outperform and rebuild my retirement?
My suggestion to any investor old or new is to get a mentor and don’t just go buying stocks without proper considerations. Most of what is pumped out by the media is what most KZhead ‘fin-entertainers’ churn out to you as fear uncertainty and doubt.
Agreed. That and reading some basic principles laid out in books like The Intelligent Investor by Benjamin Graham. There are also good KZheadrs out there like Felix, Graham Stephan, Humphrey Yang and a few others, but generally you are right.
Its unclear which stocks and sectors will lead the market in the next uptrend. Stay away from the stock market if you do not have guidance from a plannner and investment strategist. My finances have been in order since I got a wealth planner like Monica with a 600 B AUM working for me.
Who is this monica you speak about? I have also been searching for a fin-adv who can direct us on where the economy is headed new year. I don’t live in a big city.
Monica Mary Strigle just do your own research you’d find details.
this reminds me of Robert Kiyosaki who predicts a complete market crash every 6 months. Eventually he will probably be right and the he will come out saying "I TOLD YOU IT WOULD HAPPEN!" hoping everyone will forget the 99.9 percent of the time it didn't.
Then they'll make a movie about his genius prediction and how everyone called him a fool!
Economists have accurately predicted 10 of the last 2 recessions
RK is a complete fraud.
Ahh yes, just like Peter Schiff too. Yet these idiots have so many followers. Sad.
Just like Peter Schiff (oh he was right that one time in 2008!). Permabears are the worst.
Sell your house when you have 2.9% interest to a 6.9%?!? That's insanity!!
Not even sure accelerating payments to pay down the current mortgage makes any sense either. Put extra cash in short term very safe t bills with 5.3% yield versus paying down mortgage costing only 2.5% interest which is even less than that with tax deductions. Almost 3% higher net effect to the positive side with t bills.
Efing Correct!
Dave grew up in a wealthy family (contrary to his folksy revisionist history). He is now extremely wealthy. He can handle the ebbs and flows of the economy more than the average joe.
Alot of wisdom in that family, bless him for sharing it with us
Its obvious. Wealthy people like Trump and Biden don’t feel nor experience the same pain the rest of us do so it’s really difficult for them to relate to our reality. They don’t see it until THEY experience it themselves which never happens.
@@MyVisualRomance The difference between haves and have nots is the failure of have nots educating themselves on basic economics and disciplining their money management habits. It may not be easy or fast in improving ons’s economic position, but applying sound principles in a disciplined manner will result in one’s economic situation but faith and patience are required. Some people enjoy the benefits of being born into such well managed finances. But not having that advantage does not doom a person to continued poverty. Recognizing what it takes, and being willing to put in the effort to excell is the path to financial success. Chasing the latest pop culture materialism, and with borrowed money, is road to perpetual economic hard times. I know this because it worked for a pair of uncles and for me when I independently followed their examples.
Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
Meanwhile in Florida, the available inventory is up and there's many price reductions, listings sitting stagnant on the market.
Exactly.
"We suffer more in our imagination than in reality." - Seneca
So many fools said its not gonna collapse in 2008 too
And many others have said "it's going to collapse this year" every year since 2015.
@@amireallythatgrumpy6508 Every year since 2008 the US was suppose to go into Mad Max.
@@amireallythatgrumpy6508lol
Yup. We happily sold and made a nice profit 2 months before the crash. :)
@@seabreeze8467how do you like renting for next 10 years
I know a guy he sold his house at the beginning of covid thinking he was making a lifetime deal then home prices went up exponentially,he has been trying to buy a house since and can not find anything with the little money he got at the beginning of covid.
Dave: owning Gold is for crazy people Gold: Hey Dave since the turn of the century I’ve outperformed the stock market.
This is going to be a good one to watch again in 6 months.
Denver could lose 1 million people over a decade and their house price would still rise.
And?
@kbanghart therefore they shouldn't worry about the price of their home. Did you watch the video?
@@superblump87 common knowledge
The reality is Denver is gaining thousands of people coming across the southern border so good luck with low housing prices. These people are more of a priority by the government to be housed than regular people. Judging by the policies in place.
if they lose 1 million population, it expect the house value to cut by half in Denver
These internet KZheadrs people scaring people not to buy homes. They are helping companies like Blackrock buy up homes with less competition.
Why would black rock buy a house and make less money on it than just putting money in a CD?
Only an idiot would buy over rent in this market
@@grod805it's a cultural investment--not financial. Like how Elon Musk bought Twitter for the cultural investment and to make his "everything app," the theory of black rock is that it's to change the culture and get enough properties to influence housing costs overall so they profit OR convert homes to multi-family places
It makes no difference, they'd just buy them all up in three years when EVERYBODY goes into foreclosure anyway.
Love when Rachel tries to call him out on the things that more average people are experiencing since she has a little more sense of the average middle aged person. Probably more involved in social media and has a bit more in touch with reality
She calls him out on his bs
@jayc4715 she is the only one that can is why I like when both of them are on together. All other hosts have to cave to their boss to keep the money coming in whereas she gets to be a little more debating with him.
@@Bamapride1985 yea the others are yes people.. catering to their narcissistic boss...while I agree with Dave's tactics I despise him as a person
Rachel knows about the DEN bunker?!? LOL... I just gained a lot of respect for her
When we bought 10 years ago, another real estate agent said “the market is heading south and you overpaid”. A year later, prices were up 20%! Now our home has doubled in value. Never trust anyone. Not real estate agents. Not the internet. Not financial advisers. No one! Our home is a home and I’m not concerned about value.
A home should be considered a consumer good not an investment. After paying the taxes upkeep & real estate commissions if you sell be happy if you are only slightly poorer than when you started
most stuff that people worry about never happens
"What if the market goes down and my house loses value?" Well, what would you pay in rent over that period of time? There is a utilitarian value to your house. So, if your house loses, say, $50k in value but in that same period of time you would have paid $60k in rent to live in a comparable house, seems to me you are still ahead in the game And as Warren Buffet has said, you only lose money when you sell and lock in those losses.
Warren buffet also doesn't believe owning a home is the smart move and thinks they are a terrible investment. He didn't even buy a home until he had 10 times the value of his home in net worth.
And expenses with moving and selling... all that hassle.
Warren Buffett has more money than most people 😂
@@D.von.NIf you're single, that's the best kind of freedom as far as having to move stuff. But if you're in a family, then you basically have to go with whoever wants to take the most stuff 😑
The value of your house doesn't matter unless you intend to sell. People need to stop looking at the prices.
That's pretty bold to say something will not happen. It shouldn't happen, it probably won't happen, but to boldly say something won't happen is pretty brave. Now even if it does crash, he is better off in a nearly paid off home than not. House values do not permanently crash, they recover higher every time.
People used to say Covid and lockdowns would never happen. Well, it did happen. The collapse of the economy is absolutely possible. Nothing is off the table in 2024.
right. If you know what will happen or won't happen, you will be a millionaire easily.
@@johnathin0061892 People never even mentioned lockdowns until they happened. They never said they weren't possible.
People were unaware in 2007 too...
And then nothing happened. Only the people who couldn't afford their houses got burned.
You have property at 2.5% interest rate. Relax. Don’t panic sell to companies like the Ramsey group.
Holy crap how?? In Canada went to 8%
My neighbor listed her home and she had a buyer the first day it hit the market for over asking! It’s been like that with all the homes in my neighborhood and they are building more. We also live in a military town so there is always a market.
People don't understand that when your house loses value, so does all of them. You sell for less, but also buy for less...
I live in my car and am less worried than this guy.
I bet you are saving $$.. Is it easy to get used to leaving in your car?
Where do you get your mail?
@@user-ek3jj2oi7y lol good luck. I feel bad for everyone who is unhoused and wants better. Think about where to keep any nice clothes you might have to use. Where to shower, how to cook meals, where to get anything in the mail, use your car battery to charge your stuff? Wash your clothes? What about if you start feeling pain from sleeping in the car? Etc etc. For some people I'm sure they make it work fine, but....
@@strangeroamer3219google
@@strangeroamer3219 Probably has a PO box, that's usually what people do when they don't have a residence.
Love Dave. But you don't ask a Real Estate investor about Real Estate crashes haha. He will say the same thing forever. Number goes up
To an extent, yes this is true, but he also spoke of the Denver market, and housing tends to be area by area.
@MarcusKiner BuT My SiTuaTiOn is DiffErEnT. Because we own homes that were bought in a state that starts with a C under a full moon.
@@lolwtnick4362 you should do some research. The housing market doesn’t boom or bust all at once.
or silver and gold... a terrible idea.
We received multiple offers in 3 days our house was on the market. All this happened last month. Houses are only getting expensive.
Location matters lol it's more nuanced than that
Very true. The housing market in Atlanta and surrounding metroplexes won’t be going down. Houston as well.
Then wages had better increase a lot.
I know a young couple who sold their home about 3 years ago with the plan of renting until the market crashes so they can buy back cheap. Unfortunately, their life experience at that point made them certain that housing bubbles always crash by 25-40%. As of today, home prices have not gone down in our area, mortgage rates have tripled, and rent is up 50%. The moral of the story is don't day trade your home.
He could just pay off the house over the next 3 year, then plan on buying a home closer to his work. There is no need to panic sell a home with a 2.5% mortgage. There is no reason to pay it off faster either. He should be piling money into their retirement account and brokerage accounts and ride the difference. Pulling an average of 10% from an S&P500 fund gives you 7% gross over your mortgage. That is what we did with our 2.4% mortgage in 2003. We did not pay it off early, we banked the rest and grew our portfolio by $5 mil.
If you can borrow money at 2.5% in a currency that’s depreciating at 5% do that all day long .
I started watching your videos" earlier last year as a beginner before giving stocks a trial, and I've been able to scale from 120K$ to $580K, I did get an advisor for supervision and accountability just as you directted thanks.>
All you need as a beginner to make good interest is a professional miner who will guide you.
And this is the time to put money into bitcoin cause of the high rate
I propose Lexi griffiths This lady is from United K. and her strategie works like magic
There are many types of buy and sell real estate stocks gold silver, cryto Stablecoins Airbnb, ETFs
I heard about this same Lexi somewhere as there are testimoni about her, I'm buying with two thoughts
It certain parts of the country, inventory is increasing, which is driving prices down. Everyone as of know believes their shit is gold and it won’t last forever. Certainly doesn’t mean sell over it.
A sitcom about Dave raising Rachel in high school would be a hit. Like those old TGIF family comedies. Him being this old school dad and her being a girlie teen. Darn thing writes itself.
Lol, this is the same advice my CPA gave me in 2006. He said I make too much money and need to buy a million dollar home to get the interest expense write off. I said the housing market is in a bubble and he laughed at me. I told him incomes aren’t lining up with housing prices and it can’t last. I waited and after the crash I bought a condo 10 miles from Newport Beach CA that was a foreclosure for $250k. It sold for over $600k in 2006. Glad I did research on the internet and knew the prices didn’t make sense.
Multiple offers don’t matter if they’re not for the asking price or higher…. According to the data the median sales price of a home has been dropping since Q4 2022.
They are for asking and over. That has been the norm for a few years now.
Even if there was a crash, it would only be temporary cause people will rush to buy a house pushing prices back up cause of limited inventory.
To the moon with Eledator!
It is really baffling to me how people with so much money can at the same time reso unintelligent
What’s even more baffling is how people with no money are so intelligent. 😂
@thebeegood1731 they are not in survival mode so they got time to worry and make $hi+ up 😂
It's because people are just slightly smarter monkeys. Yes, even you. Yes, even me. Yes, everyone reading this. The reality is that we are dominated by our emotions. We all make emotional decisions nonstop all day every day. Some subtle, some not so subtle. Managing money is just as much about managing emotions (e.g. impulse control) as it is about having the knowledge and intelligence. It's the same reason for why even doctors can struggle with mental illness, for instance. We all have a nervous system that is complicated and composed of many things. All these things connect back into our emotional center, which are some of the first parts of our brain to develop.
This is a great Dynamic. Rachel is so kind and understanding; she tries to gently bring the correct lense for the caller. Dave: No. Media is wrong because...
But neither of them are telling the truth, they’re both heavily invested in real estate. This is like asking a guy that invests all his money in gold of gold is ever going to go down. His opinion is worthless. If you actually do the research you can see the avg house value is dropping… and has dropped, with its peak in the end of 2022
Even if it does 'crash". How is selling the house going to do anything? 2.5%, I would not sell.
Poor guy is clueless man!! He is going to do what his wife tells him to do anyway haha.
Well, IF it "crashed", and prices dropped, say, 30%, selling it now would allow them to extract $210,000 more equity (assuming their house is now worth $700k) versus riding the price down. Then they could do whatever they wanted, including buying a similar house for $490,000. All hypothetical, but it was your hypothetical & question...
@@Run4Ever77 It does not matter how much the house it worth. You don't sell just because you think it might "crash".
@@jimmymcgill6778 That is a different point. I just answered your original question. And to your second point, some would think it's worth it, some wouldn't.
My brother You own a home worth over 700K now, that you owe less than 200K on. That's a literal retirement plan in house form. AND at 2 point whatever interest rate. You will NEVER get money cheaper than that. If you have ANY other debt, I'm sure it's higher interest. Pay that first. We may never see sub 3% interest rates again. Take advantage. Stay where you are. I'd be in that house 5 to 10 years. Sack away cash. Spruce it up a little. Then when it's time to go take your million dollars and go. Go find somewhere where you can get a nice home for 500K, write the check, and still have 500 in the bank.
we are in rockwall texas, my nephews house on 10 acres has been for sale for over 3 years. the price is below the average price in the area. he has had several offers yet, they are all contingent on selling their house and the deal falls through. now that the property taxes have been tripled in this county the current deal is about to be scrapped.
Does anyone else notice KZhead deleтing your coммеитs?
Real estate is going down. Some places they are up. But national median price is going down. Dave would never admit that. Even when the proof is in front of him.
Exactly. Places in Florida are down 20%.
Why would he Real Estate is his bread and butter. It makes no sense for him to say prices are coming down or the housing market is crashing.
The only reason house prices are going up because the value of the US Federal Reserve Note is going down (Inflation) and supply and demand.
Yeah, a crash really is coming. There are millions of broke people everywhere. I have no debt. Done with this dumbshit.
In Springfield, IL where I am a house is under contract within a week. They've got at least 5 people bidding on every house in my area.
This sounded like a humble-brag call. Millions of people would kill to be in that situation. Especially when he added that what he listed was single-income stats, and they'd be double-income again soon.
he couldn't stop bragging about how well they were doing
I live in Denver too, what is he talking about a housing crash here?! Haha
Same here - we were just looking at houses yesterday in Cherry Creek. House prices aren't going down for sure!
There's a huge bubble there, not looking good. I would be getting out, before it's too late (might already be).
First they told us to get off the radio on the radio. Then they told us to get off the TV on the TV. Now they are telling us to get off the internet, on the internet. You first Dace Ramsey. You first.
just curious when your show is, that i could ask you some questions. ive completed the 7 baby steps and need some thoughts on what to do next
My oldest brother spent over 30 years immersed in conspiracy theories. He placed doom and gloom on everybody around him, especially his kids. He died of cancer two years ago and his immediate family is still struggling with no careers, education or hope for a bright future.
That's honestly very sad. Our worst enemy is often ourselves and our own negative thoughts unfortunately. Sorry to hear about your brother.
Wow sounds just like church people
that’s it blame it all on him
@@hysongreen Yes
The economy is already collapsed most don't know it. We will see a great depression 3 when AI takes over and the dollar is being devalued.
This channel is definitely for people that have no clue how to trade stocks professionally.
Denver has a 74% increase in inventory year over year for March. Is that not the beginning of a possible supply and demand shift?
When you look at how far behind we are on home construction, there is zero reason to expect a housing crash... Slight corrections to markets here and there, sure. But even those in areas like Denver, if they do happen, are more likely to be a slowing of the increase in home prices. And even if there is a market drop/crash, investing (and home ownership) is a long game. You just wait it out... And as others have said, your primary home really shouldn't be an investment... It's your home.
This Is a such a stupid question or problem to worry about. So what if the market crashes? He's still got a place to live with a 2.5% mortgage rate. Plus you can't lose money on a house unless u sell it at a loss. As long as u live there, ur fine. To be honest, he should be paying the minimum on his mortgage given the rate is so low. Very few things would make me sell a house with a rate that low.
👏🏻👏🏻👏🏻
Why on earth would pay the minimum
Ye people don't understand that when your house loses value, so does all of them. You sell for less perhaps, but also buy for less...
@@nickchapman3199 2.5%, no reason not to.
@@nickchapman3199because he’d get better returns putting his money into treasury bonds than he would paying down the interest in his mortgage
If they dont want the house, sell it. Keeping a house because of mortgage rate is ridiculous.
It's not. A new mortgage on the same middle class price point can easily add $1000/mo right now. Average Americans can't suddenly absord a $1k/mo interest expense.
@OtisFlint My rent is 1,000 dollars cheaper than a mortgage in my area, not including whatever is included for rising mortgage and insurance costs. Keeping a house for decades because of unnaturally inflated home prices because of a pandemic isn't a long term solution if you don't want the house.
@@nicolcacola rent is only cheaper than a mortgage in California-like markets. In the Midwest and Texas your rent is higher than the mortgage
Australia's economy in very poor shape, there are hundreds of applicants for just one house listed for rent and landlords are increasing the rents of existing good renters/tenants for outrageous prices.. Why? Because they can.. (and homes, condos, etc. are in increasing demand).. and because the landlords are Greedy! The reason the economy of Australia has gotten so bad is because they are allowing 500,000 people into Australia yearly.. and if the country doesn't address that issue, itis only going to get worse. :(
And I'm glad Shane defended his wife and told Dave that it wasn't necessary to put her down; Dave goes a bit too far sometimes with his arrogant insults. That is prideful, Dave.. and that is a grave sin.. and you are supposed to be a man of faith.. and you wouldn't like a man talking about your wife in that way..
The housing market is already starting to crash. Crash as in home prices are having to be lowered because no one is buying which means those that did buy are underwater as they loose home value.
That's not a crash. Crashes are sudden instantaneous events by definition.
To combat the negative effect of inflation, it’s a good idea to diversify your portfolio across different asset classes, such as stocks, bonds, and real estate, since this can help protect your portfolio against inflation. I’ve heard testimonies of people accruing over $550k during recessions
In my opinion I feel for a successful long term strategy you have to really seek guidance from a well inclined expert truly they're the ones making the best from this current situation.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over $745k working with an investment coach for more than two years. FACTS!
Interesting, I’ve actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging honestly. If you don't mind me asking who's the person guiding you?
She goes by ‘Wendy Birkett” I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Honestly I appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Wendy Birkett up and send her a message. You've truly motivated me. God's blessings on you.
Channels like Reventure Consulting and Mike Bordenaro are stirring up panic across the internet, yet year over year prices are up almost 6%...
Yeah, like that foolish Michael Burry guy in 2005/2006...
Which is a far cry from the what 20% the year before. And that 6% is a national average.
Thank you for all you do! Such a great clip!
What if you want to sell to downsize? To get in a nicer area (better schools) and get a smaller mortgage than you have currently? Even with the higher interest rate..
With all the people continuing to move into the Denver area, there's 0% chance over crash in the next 6 months.
His nice practitioner wife nurse also finds a problem with every perfectly healthy patient.
There is the problem
I bet she is on meds too, most are.
@feelnrite wonder if that's true. I only know one and she's on a lot
@@MeltingRubberZ28 I think so, my mother before she died was having panic attacks and I over heard a group of nurses talking about all the stuff they were on and what it did to them at times.
Stop worrying about what everyone else is saying and enjoy your life. You guys are in the perfect place.
rachel said “when att went out” 🤣 that’s me. i can’t even lie
the caller's psych NP wife needs to treat him for his anxiety
She's the cause.
Haha exactly what I was going to say. To be fair her job is probbaly stressful but she needs to get a hobby that helps with that.@@Run4Ever77
We should have a freaking 50% tax for people that own a second home in high density areas. Housing should be an essential right and not a speculating tool.
Does that mean I have a right to move into your place?
@@charlescasaburi5333 I never said people should move into other people homes. I said if a person owns two properties, the second one, if in a high density area, should be taxed on 50% or something. People buy multiple properties for investment while others don’t even have a place. Something is not right!
@@joacybra1 many people don’t want to own a home or they can’t afford it . Owning a home only makes. sense if you know you are going to be in a certain area for several years & you are paying cash or you will be able to afford a mortgage. Many people rent because that’s the best option for their circumstance. If they are going to rent they need someone to rent from.
Totally... homes shouldn't just be a commodity for rich grifting boomers like Ramsey to hold over our heads and ask ridiculous amounts for. There is going to be a 90%+ crash in home prices soon, to bring them back to their real values, so don't worry.
An eschatologist; I can't help but start laughing. The same way they were laughing at 02:00 It's consumeristic and a GREAT marketing scheme. It works every time haha!
New house prices have dropped, inventory has increased in FL,TX and other areas and houses are sitting longer oh and interest rates are increasing 😢
Because it’s crazy expensive with high interest rates. FED already stated that interest rate won’t go down this year. Remember Dave’s bread and butter is the housing market so you tend to be more pro housing prices going up then down.
No where but down in the future , we are a modern Rome, debasing currency, physical assets better than deflating dollars
If society collapses your shiny rocks will be worth nothing.
@@michaelhutchings6602Shiny rocks have always been there when stuff goes bad. During Weimar hyperinflation you could buy multiple plum Berlin townhomes for an ounce of gold. In Venezuela right now people are panning gold out of rivers to use as payment, as their paper currency is worthless. There’s your lesson, from hundred years ago to today.
@@michaelhutchings6602 Yes free lead will be giveth
CANNOT BELIEVE PEOPLE ACTUALLY BELIEVE THERE'S A CRASH COMING.. 😂 Notice how it's ALLLWAYS 6 months away.
People are noticing the crashing value of the Dollar every week at the grocery store. It is not hard to see.
Crashes will always happen, just nobody can predict them. But they will come
Don't forget about the people who say "We are in the end of times. Bejebus is coming back soon." People have been saying we are in the "end of times" every year, for...let me calculate....2024 years now. LOL
@@RusskiCommieBotok MAGA
@@RusskiCommieBotits bananas as much as I love this chnls content , incredibly irrational to not acknowledge the u.s.d / c.a.d is beyond a dumpster fire .....
I feel this guy's stress though. I've been teetering and stressing like crazy the last month about to pull the trigger on selling my house. Locking in my big profit and making sure IF IT DOES CRASH, that i don't get stuck living in an area i now know i'm not super fond of.. People act like a low interest rate and a great deal on a house means you should live in it forever.. Like wtf, i'm not going to let a house dictate my entire life decisions
Dave, your daughter is correct. Your "do not worry about it" mindset is what got you into trouble when you were young and got into financial trouble. There is a happy medium.
Rushing to pay down a 2.5% loan. The stupidity.
Home values keep up with the S&P so it’s not a bad way to spend money at all.
0% interest on $0 principal beats 2.5% any day. Borrower is slave to the lender
@@TS6815 ah, that old dumb saying. S&P 500 from 2021 up 24%. Heck, tax free municipals may 4.7%. CD's at 5%. Debt free fanatics paying off 2.5% loans early are inflicting financial self harm because they can't do math.
@@CurieBohr Home values are not lockstep to the S&P, but are much more locality driven. But, even if they were that makes early pay off even worse. You still get the increased value at sell off, plus instead of rushing to pay off 2.5% interest, you are clearing 8 to 12% back on moderate growth ETF's. There are safe, insured, guaranteed investment vehicles paying twice that interest rate right now.
Paying 2.5 % and making 12 % is a 10% gain. Hardly a slave.@@TS6815
In 2010, 40+ homes in my 200-home subdivision went to foreclosure, $200K homes for $50-100K.
What does that have to do with anything?
Your point???
People aren't getting variable rate mortgages like they were prior to two thousand and eight. Unless we stop having record low unemployment, we shouldn't see another wave of foreclosures.
And they had trouble selling them, because buyers were petrified, millions were out of work, the stock market was in the toilet, and most of the people who had been waiting for a good time to buy, now weren’t in a position to make the biggest purchase of their life. People act like a major market correction is the perfect time to buy when in reality you might be sitting in the unemployment line.
@@TonyCox1351 I know someone who was waiting for a crash in 2020 and lost his job. He’s still renting. In 2020 he had the savings and income to buy but was waiting for a foreclosure wave.
The economy crashed for me 10 years ago. Just been squeaking by ever since and don’t expect it to get better anytime soon.
I bought real estate in Austin TX in the late eighties & sold it for twice what I paid for it a few years later. There was an epic real estate bubble in Texas in the eighties that subsequently crashed creating bargain prices. real estate is not an inherently stable thing that most people think it is. There have been real estate crashes that make anything that happened in the stock market look like a minor technical adjustment. I see many of the same problems nationwide that I saw in Austin 30 years ago plus some new ones like sky high real state taxes & the burgeoning squatters movement. The time to buy real estate again is when it is in foreclosure or for back taxes.
The key to making money in any market is to sell at the peak & buy at the bottom. What makes a market peak ? Almost everyone is in the market what makes a market bottom? Almost everyone is out of the market. If you think about it most people are going to lose gambling in the market. buying at the bottom & selling at that top is easy in retrospect but it is almost impossible to do in real life because every bull & bear market generates its own inner logic which is difficult to resist. I know Dave thinks of himself as the exception but when the bear hits & the losses start mounting he or more likely his wife will panic tell him to sell ( your wiping out our life savings you idiot!)
Psyche nurses are the craziest. They even admit it
100%. Being unstable in nursing or Med school attracts you to the specialty.
Every other kind of nurse believes this 😂
I talk to these people like once a week, and have for the last few years... hearing from some "reliable source" on the internet telling them the housing market is about to crash. It's maddening.
In Texas, home prices are going down. Houses are not selling here now. At least not like they were a year ago.
We just sold our deceased parents' home. It was on the market for 2 days before it was under contract and closed in 25 days. Oh, and it sold $25k over asking price. Doesn't look like a crash coming soon in Connecticut. Very few new homes are being built here. If you cherry pick a specific market such as Myrtle Beach, or some other southeast US area where many homes are being built and there is temporary oversupply, yeah, there could be a reduction in prices, temporarily.
Dude looking for problems
I like how immediately stepped in to say (in a nice way) "don't talk down on my wife". Most people just laugh it off
No. He said, “I don’t want to talk down about her” - yet this entire call is about calling his wife looney.
That’s not even what he said lol
The high interest rates will start suppressing home prices and some over heated markets will come down a bit. And that’s a good thing. Stay in your house 10 years or more and it’s not a problem.
Zero debt except the house that they are attacking very swiftly. The house cost $500k and now worth $700k. In Denver. Yea, she's a little crazy alright.
Dave is 💯 right! Love seeing him win these arguments haha. Love watching him talk to fear mongers both on call and at desk. Common sense always wins
It will crash and we’re all screwed
@@HOLDXSTEELit’s crashed 3 times in my adult life and somehow we’re all still here
lol right
@@TonyCox1351 but it still crashed…?
@@HOLDXSTEELonly if you got yourself in a mess.
Even if the market did crash you dont need to be selling so it won't affect you anyway. Itll recover in a couple of years and you wont miss anything
1:41 actually housing sells are slowing down a lot. Pair that with rising interest and you'll see a dip... maybe not a crash but a dip for sure.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families in United States, she's a licensed broker and a FINRA AGENT in United states
You trade with Michelle Stewart too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
Good for him ❤ Defending his wife ❤
Lower value housing in good areas grows faster than higher value housing. More demand. Just build equity and upgrade when you have the means to. Or just stay put if you love your house and can stay in it.
I live in Denver, we have one of the strongest markets in US our value barely gone down when other markets were going down
Sell the wife, keep the house.
Big brain 🧠
Better yet...lose the husband