Should YOU Buy A Home In This Terrible Market?

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[RP-mbyl]

When prices are low an interest rates are low is the best. when prices are low and interest rates are high a second best. You can always refinance when rates get better.if when prices are high in interest rates are low is 3rd. When prices are high and interest rates are high is the worst time to buy

[micheal_mills]

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

[goldenlifelove]

My homeownership dream has dismished. It's cheaper for me to rent & Idk whose mortgage I'm paying! The down-payment, cloding costs, taxes & monthly payment are INSANE where I live!! My apartment is beautiful, safe & I love the community. It is, what it is!!

[ronijr]

Remember guys buy when YOU can afford regardless of what people think.

[JDmix]

If you can afford it fairly comfortably then it’s ok. REMEMBER (especially where you’re buying) to think about Property Taxes and Insurance costs/issues.

I honestly believe it’s only going to get harder to own a home as we move forward.

[marisamarino]

I want to own because I want my own yard.. garage.. some space.. a fire pit.. and my rent is over two grand.

[jei.massive]

This guy is sooo truthful, he's speaking the truth!!! Great job man, I subscribed!!

[besttechgamer]

I bought and the mortgage is around 50% of net income. However im in CA so prices are ridiculous and with a 6.5% interest rate makes it worse. In my head even though its a bit uncomfortable price wise I have 2 small kids and didnt want to have to move a lot/hope that my rent doesnt go up every year which it does. I was paying 2500 rent and now a 3800 mortgage. I did get a new construction with solar so the maintenance and utilities are low. But im still not confident i made a good decision

[meg-omyegg-o]

“Some Chad at work” 🤣🤣🤣 I literally lol’d. Anyway, another great video! Very balanced and informative. Great job! 👏👏

[aniee]

I thank you so much for this truth. This you tube video is probably the besst I have seen. Thanks again, and yes you did give an answer!

[AlanChunkyMunky]

Whole heartedly agree. for the current times, it comes down to two main things. NO, if you wanna "invest" in property. YES, if your current PERSONAL situation calls for it. I am one of those californians who is moving out of state to afford a home. Personally, i want a home that will nurture me and my partner's next stage in life. we got into a brand new construction townhouse that is perfect for where we are at in life and can actually afford it. if I was single, id probably stay in Cali and invest in different assets.

right now, a home should be considered a purchased place to LIVE, not to grow your net worth.

[SKYAThatOneGuy]

Dont normally comment on your vids but i wanted to say thats awesome your collecting Magic the gathering cards now. Im currently selling MTG, Yugioh & pokemon cards to build up the funds to buy my first house lol.

[georgiardchenko]

This makes a lot of sense and is extremely sound advice. The one thing I'd say is that, some of us don't actually mind being house poor. I bought my dream home and it's worth living in a golden jail (lol, love it) for me personally. I work from home so I spend ~95% of my time in my house. It's a house style that's very difficult to find and they literally aren't made anymore. "Another one will come along" isn't necessarily true (I looked for a literal decade). For most people I think being house poor is a terrible, terrible idea. But if you have emergency savings and retirement savings, it's a matter of what you're willing to give up. I decided I was willing to give up eating out, going out to movies, and taking vacations. That probably sounds like a crazy choice to some people, but after I calculated my budget, it was an easy choice for me. I cook in my absolutely stunning kitchen. :)

[marcelrodriguez]

Im 32 still live in my parents house, they retired and moved out the country so i take care of it now and pay the bills but its a 3 family and i basically live for free since the tenants cover the mortgage. Would be nice to buy a house so me and my gf could have our own thing but its simply not possible in this market. Me and her combined make lile 100k in nyc which simply wont get you anything. And before someone says "move out" i have a good job as a handy man with a good union/pension etc and moving to another state means i can no longer have that said job.

[bguest]

*Gulps* i’m closing on my house this week 🙃

[troysincomb]

What would be your opinion for markets like San Diego specifically? Apple is buying up land, bio companies are moving in at breakneck speeds, and there are very few new permits that are not ADU's or granny flats. You can only find a reasonable single family home (that isn't a scam) for ~5K month in la jolla. It will only get worse for at least 3 more years while we still struggle to build more homes. If I use the nerdwallet rent vs own, I get an inflection point of about 7 years for a 950K house. If the rent keeps climbing up 5% every year and the homes keep jumping 7% every year than I have to either get comfortable with the idea that I will be eventually be pushed out like everyone else or I take a risk and own property at 8K a month. I'm doomed if I do and I'm doomed if I don't.

[Jack-pdps]

In 2018 my rental was $800 per month and the townhomes I was looking at were $1400 per month. Today that same apartment is $1350 and mortgages are over $2500. Inflation has an impact. They say inflation is still high.

[siegetank]

Love the info you put out. I was about to say everything you say is always an exception to CA lol. As someone who lives in CA, it's pretty much impossible to find anything affordable when making $150k is considered poverty. This state is a giant cluster fack.

[MILAMIRANDAOFFICIAL]

For me! My rent is 4k and the house im buying is way cheaper, plus I hate my upstairs neighbors and I need more space for my dogs!

[Davidanderson-zuwn]

Damn! I love your honesty and I’m literally in the exact situation you provided examples of. You’re a gem sir. A real one. Thank you for your content