Cost of Housing 🏡 RENT vs OWNING

[boblukasik]

I got turned down for an 800 dollar mortgage, so I have to pay 1200 in rent. Make it make sense.

[willcresson]

I still cannot understand why anyone would live in a HOA. You're literally paying a bunch of Karen's money to tell you what you can't do with your own damn property.

[greatmaddyave]

Yes we get all that. Were saying that formula is flawed if Ive proven I can continually pay 2k a month in rent. And I'm gonna be paying that with or without the loan so just give me the loan

[justjunkmale]

I love how a home loan takes into account your other financial obligations when deciding, but assistance programs don't. Ahhh yes, a perfect system.

[pepperjacktv]

Loan broker here. 1. PMI stands for Private Mortgage Insurance. 2. .4 used to be the rule of thumb, a lot of lenders are allowing you to lend up to .45 these days. With inflated house prices and interest rates at 8%+ its increasingly hard to get approved for a mortgage if your combined houshould income is less than 100k a year. Qualifying now is harder than its ever been.

[terryrodriguez]

Our mortgage started off at $750.00 a month. That included insurance and property taxes. 25 years later we are now paying $1, 436.00 a month. Our mortgage didn’t increase the insurance and taxes went up.

[robertgk]

Why cant banks and folks such as yourself be consistent. I know this aint on ourpose but its irritating. When someone says "why cant i qualify for a 2k mortgage". They ar including taxes and property insurance and everything tht would be baked into the payment. Dont count that seperate.

[skipdegraff]

If hoa is involved RUN

RUN LIKE THE WIND

[josephtiseo]

that the bank tried to tell me I could afford a house at almost double the rent i paid... never trust someone else on your budget!

[yes]

70% of Americans live paycheck to paycheck. And now, corporate profits are at an all time 70 year high

[jimemcdowell]

Thank you for highlighting just how broken renting is. As a renter, there's a HIGH probability that I'm paying ALL those fees you mentioned in a loan. However, theyre bundled, along with whatever profit the landlord demands, as the cost of rent.

[judymastrullo]

Boy oh boy, Freddie, you have come a long way!! You got this real estate stuff down really well, today. Im proud of you Sonni K. Good job! Good luck in this crazy times. ❤ ❤❤ from and old fan.

[Anans_Spydr]

During the New Deal when the government removed the risk from the housing market. It was literally $50 to $60 to rent and around $20 to $35 to own a house. Best part without almost no down payment. Nice video explaining how things are today but it wasn't always like that which is what is annoying

[acac]

Still does not explain why you can pay 2000 for rent and not mortgage. You are paying 2000 out every month?

[tan]

So basically I am screwed, great videos by the way, love from the Uk 🇬🇧, pretty much the same story over here, homes are 9 to 15 times the average salary,

Rent is 60% of pay check

In my mid 20s so definitely feel these videos, will never be a home owner despite having a job that puts me on the top 25% of Uk earners

[calebplumleephotography]

Bro just argued that your $2k isnt worth $2k unless you're already a homeowner. Solid

[presciousdiamond]

Basically, when you own a home you pay more money 🤑

[marybethdonadio]

loved seeing you on the angle and getting your real estate perspective!!

[missjanelove]

It’s about the same. The landlord will increase the rent after a year to cover the increasing taxes, insurance, and maintenance. Rent is not locked in. They also need to make a profit, so add that too. For those saying you don’t have that cost, you do wrapped up on one payment.

[rokyericksonroks]

Loan to income of 40%? That itself is ridiculous and should be no higher than 30%. That extra leeway allows the household to spend in the real economy which cannot survive if everybody is plowing their income into residential RE. Who will consume when the economy is 70% dependent on consumption? Nobody will and that will lead to contraction. Once it contracts, the real fun starts in RE.