Why Buying A Home Is A BAD IDEA | Ramit Sethi

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[tatianastarcic]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[Raymondjohn]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[SeanTalkoff]

Prices are too high. With rates not subsidised in ’24 and mortgage still high, currently seeking alternatives to maximize savings without an RV move or taking a loan. I’m seriously contemplating the latter.

[cloudyblaze]

I feared a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[rangequeen]

The market is crazy. I feel terrible for anyone trying to buy. People want a permanent residence, a sanctuary. It’s not all about financial sense. I hope things change. 🥺

[a.long-diaz]

I would love for you guys to have him in the Iced Coffee Hour.

[michaelschiemer]

Great video!  For 2024, it’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[Mandres]

Buying a house in the wrong financial situation can ruin your future.

Zero down, no cash on hand, bad debt, and payment higher than 25% of income. All too common

[Marcus-idur]

Multi millionaires can afford to not worry about rising rent costs. Us average joes need to lock in that mortgage so we don't have to worry about rising rent cost ten years from now.

[cathyg]

On my third rental in less than a year thanks to slumlords who won’t maintain safe properties. I’ve paid to move three times and rent has increased 20%. I would rather own a small place of my own, than worry about landlords, increasing rents, noisy neighbors, etc. Home ownership is a blessing that few can afford.

[Prickly-Hedgehog]

I didn't buy my house for a profit. I bought it so I had a roof over my head that I own.

[AllenNichol]

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.

[diyrealestate]

I’ll pay all day to not have a landlord tell me up and leave my home.

[toddbarrera]

I bought a house to cap my housing expenses. Landlords have decided that they can raise rent on a whim because that's what the market is allowing.

[YoPhocFays]

Yes, please keep renting. That's what my landlord suggest.

[ivymaddison]

With rates still as high in ’24 coupled with uncontrollable inflation, and our own mortgage at 6.8% what are the best alternatives/strategies for avoiding a crunch and maximize my savings other than moving in to a recreational vechile with my spouse?

[daminh]

Idc what any of these videos say. I’m always for buying a house IF you’re not stretching yourself thin for it.

[awanen]

I love ramit sethi, but I don't consider my primary home an investment and if by the off chance I lose the ability to make money, my fixed cost would be low and I would be chill. If things break that's where my emergency fund comes in... for emergencies.

[saulgoodman]

Buying a house to live in, is not an investment.
People have to stop thinking that.

[jarettesuikowsky]

For the record, eating out is a rip off as well.