Why Buying a Home is HARDER THAN EVER!

A lot of people believe if they can just come up with the downpayment for a house, then they are all set! They'll figure out the rest once they move in. But this couldn't be further from the truth. Owning and maintaining a home has become so expensive in recent years that the average homeowner is spending roughly $3,200/mo just on the house payment plus additional expenses to keep the household running. And these additional expense are not optional. Everyone needs insurance, everyone needs to pay property tax, everyone needs to pay the water and electric bill, repairs, the list goes on!

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[dannywalters]

The housing problem and everything surrounding it is really getting out of hand. I'm 35, live and work in California, and almost have enough saved for a down payment on a decent house. But now I'm second-guessing it, feels like the market's overvalued and there's talk of a crash. Some friends advised me to throw that cash into stocks or something and wait for prices to drop, but I'm also confused because what if I don't buy now and the prices go even higher.

[brianwashere]

That is why you only buy 1/2 of what they tell you you can afford.

[coled]

It just stinks because I’ve worked for 13 years and built a nest egg for what? Nothing. I wanted to own a home, that was it. I want to be able to do normal stuff that a 35 year old does, have a garage or workshop to work on stuff. Or even have a project car.

Everyone is like, oh just rent an apartment and be happy.

Excuse me, but you probably don’t realize it since you’re all spoiled with your fancy 3/2 2 car garage and yard homes you own but an apartment offers NOTHING that I’m looking for.

[Dxeus]

Why does no one ever talk about interest? A 500k house at 7% interest is 1.2 million, now add closing fees, insurance, hoa, and maintenance on top of that.

[jestmichelle]

It sucks when someone is trying to save and the price keeps going up so fast.

[CelNav-ti]

To your point Michael, we moved 60 days after closing on a house in a different State. I received a $260.00 water Bill for the new house. 0 Usage All Fees.

[tizzx]

Paying 1850$ per year in Insurance just to never get a claim is ridiculous!

[luigijohson]

All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.

[dmdm]

i made the exact rookie mistake you mentioned in regards to my expecting my house tax would stay the same as the previous owner. Within a year of me buying, it literally tripled on me. I paid for audit again and appealed because the comparable don’t exist for old house surrounded by almost mil dollar homes. The y reduced it to Double instead of triple. ugh. still crazy.

the property scam interview by the Denton texas guy shed so much light as to how municipalities are stealing from us by this property hikes.

[brent]

My old house that I just sold, the water bill had 'tree management' fees for the programs to maintain all the trees in the county. Not because it is related to water usage but just its an easier way to put extra fees on the water bill than the property tax bill. It is crazy..

[Mytriumphpre-unit]

Only fools were fooled thinking home don't have ongoing repair issues. When they were living with mommy and daddy, they didn't notice repairs being done on the family's home.

[MichaelSorbello-yonl]

I watch you everyday. I'm amazed that you're able to speak to something for the duration without ever being redundant. Housing fascinates me. I wanted to become a realtor once many years ago. Competition was, and remains fierce.

[LizaPhilips]

A house isn't the best investment, considering the state of the economy right now. After selling my Boca Grande house, I want to put $200K into stocks because they can still increase in value during difficult times. Do you have any great ideas for stocks?

[richardhudson]

Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighbourhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighbourhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

[plica]

The weather in this video is like the best day of summer where I live.

[bushmonster]

It's going to be fascinating watching this play out. Costs need to literally be cut in half otherwise there is literally no future for the people.

[vintageintheraw]

Government, at all levels, is THE PROBLEM.

[mikes]

Michael is like a brother you never had. I enjoy your content, and you seem honest and want to educate people.

[Johana-cn]

Your talent really stands out in every video. Awesome job!

[briancurran]

Owning house 🏠 in America is nightmare slave entrapment