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[MelanieKielb]

Dave’s right! There are many expenses associated with owning a house beyond the house payment. Renting means a fixed cost at least for the term of the lease and is what this family needs.

[pl]

Wait if you owe 500k already how can you find the bank for the mortgage? No one would like to lend the money😅

[sjia]

Not everyone should own a home. It can be financially debilitating especially if it needs work, taxes are high, utilities are big and you aren’t good with repairs. I was more at peace when i was a renter. Never had to worry about anything except the monthly payment.

[SarcasticTruth]

People dont understand there are so many costs to owning a home, not just the mortgage

[chenyitube]

Lesson: people want debt. You offer them debt for a lifestyle they can't afford, they'll take it 80% of the time.

[none]

I got my single family home for $19000 and it's paid for!!!

[BarbaraBCarlson]

Good advice. We US people believe a lot of false things about personal finance that blind is. You're helping so many people, Dave!

[bernadettesandoval]

When you have kids, stabilizing overhead is a priority. Renting with kids is never cheaper, landlords raise rents especially when you have kids.
They need to move in with family, share childcare so mom can get a job

[JamesHollinger-ltqx]

Buy a old tired motorhome and park at walmart

[teri]

Purchasing a home could potentially be a money pit unless it is in perfect condition.

[wellspj]

Years ago 1971. FHA offered 950 saw ft home for 18k. It was very low amount down and moved in and move in. FHA mortgages were sliding payment amounts. After first year it increased and every year after. Lots of individuals were foreclosed on but lots were not. It was a starter home. My wife and I with kids purchased one in 1979 for 33k. Normal loan and stayed until 2000. We then had enough to move into a nicer home. Maybe FHA need to help out again with starter homes.

[DebWalther]

House payment is usually less than rent now!

[Gravadlax-kirh]

How do you allow yourself to get 500k in debt? Crazy.

[naomiemoore]

How does one get into that much debt? If medical expenses - I get that, have been there myself and had it greatly reduced with some excellent negotiating skills.

If consumer debt, why?

[patrickjones]

I can’t imagine owing that much money toward anything. To think I was stressed when I bought my house and owed 200k. Ima be just fine

[famshare]

Sorry I don’t understand this advice. There is no way with the price saving from renting to owning would I have saved the amount of money that the value increase in my home has been. Even with putting a new roof on and having it painted I am way ahead of the game. My friend’s rent for a smaller house is more than my mortgage.

[gardenandcalico]

the way im SWEATING over 30k in student loans wondering if I should rent until its paid instead of own again (already had a house before finding Ramsey, and selling it now for other reasons) and people are out here like "ehh its only 500k, as long as its a CHEAP house we should be fine"

[KatZwe]

They are already half a million in debt, who would give them money to buy a house???

[Sammiejammie]

Lives in Ohio than buying a home is actually much cheaper than renting.

[nedutchgirl]

There is a time to rent and a time to buy. Deep debt is time to rent.