Should You Buy A House in 2023?

Not 100% accurate, property insurance, Florida and kind of everywhere.… and property taxes, just about everywhere due to Redfin like companies inflating property values, have skyrocketed. Meaning your mortgage does go up.

FYI - You really never own your home. Property taxes are for life.

Before he said don't buy 🙁. Would like to hear the whole convo of this clip.

I am still young and live in Florida where rent and buying is overly expensive. I keep reading comments to get knowledge, now i am questioning wether to rent or own. I don't really want to invest. I just want a place to live for a long time thats all. Whats better renting or buying a house😊

Housing continues to increase affordability to the bitcoin participants.

Sorry I love dave but when you own a house every thing goes up I promise 😢

So true.

Its funny he says this. Owning a home is like having a credit card. “Oh lets renovate the kitchen, it builds equity”.. bullshit. Just rent, dont get tempted to spend $50k to redo rooms. Go live your life without wasting a decade listening to your wife plan out filling each room with crap.

What he's not telling you is the expense of owing said property...Taxes, up keep, insurance, etc. Housing is a money pit.

I’m lucky for the past 3 years I have saved half of what people usually pay on rent in my area as I live in priority housing I now use this to my advantage

Taxes always go up and insurance has been increasing like crazy. Renting an apartment should be a significant savings vs a decent size house with a yard but it's not.

The mortgage goes up too! it's called ESCROW!

Taxes go up, insurance goes up and the cost of replacing an air conditioner is around $11k right now. I spent $100k fixing up a house that was renovated. I went into debt because I had to replace everything including the foundation. I sold that monster and bought an RV. Only people who make money on mortgages is the banks.

Bs 80% of your payment goes to interest! I regret financing. Your payment in most cases higher, don’t forget yearly tax , mud tax, school tax, higher electric bill, lawn maintenance if your not doing it your self, home repairs like ac/plumbing!!!

Even with the current housing prices?? People who bought a house in my area are paying nearly twice as much as my rent for their mortgage payment every month.

My rent never went up. Thank God
Free water, electricity, and amenities.

The taxes on my house actually took it beyond my original payment amount and it’s not going to go down

If you never sell the house you never make any money and if you do, you will put that money towards a new house and now you don’t have any wealth to retire with

Too many black people now live in my area. I'm selling my house.

(1) When you rent, your monthly payment is the maximum youll pay. With rent, its the minimum.
(2) Values dont always go up, especially when no one can afford to buy.
(3) Your brokerage account is a better wealth building tool than any piece of real estate thats not on top of an undiscovered oilfield.

Until some dude comes out and says "now your house is worth 300k more" and now you get absolutely destroyed on taxes for a house that shouldnt have done that to you in the first place

My mortgage payment went up $450 a month this year due to taxes and insurance and an “escrow shortage”

Except a house payment today in most cities is dbl the cost of rent. Plus insurance, taxes, down payment, closing costs and...inevitable repairs.

Sounds real cute babe but I make more than my parents ever did and I still can’t afford a down payment

True

With declining populations we cannot expect real estate to continue to appreciate as it has for the past 100 years. We are going to be living in a completely different market in 20 to 30 years where homes may be depreciating assets.

It's cheaper to rent these days than buy! Something needs to change.

How does a house that needs a roof and plumbing, Electrical work, AC repairs. taxes and insurance stabilize your budget

Number 1 everything goes up every year

If rather rent and put 500K in the stock market and make 10% per year vs 2% appreciation plus maintenance and taxes

This is just not true, taxes go up too. The only thing that matters is how much your end spending is. Apartments dont need maintenance and theres no tax either

It dont matter which you do. You end up in financial servitude to muthafukaas like this either way..

I thought Mr. Ramsey HATED credit scores!!!!1! How can you buy a house if you have 0 credit?

Is it smart to rent when you first are looking for a place to live? I am moving out soon and I’m trying to decide if I should rent and save up as much money as I can do that I can buy a house in 5 or 6 years or if I should go into debt to buy a house and pay that mortgage

You are 💯% right. But then we have all the rich people buying all the the nice homes. Like they offer extra for them living us with no hope for us to buy a nice home. 🤷🏼‍♀️🤦🏻‍♀️

He forgets the market will crash end of 2023 / beginning of 2024 globally but hey who cares. What do you think happens with the prices when the interest rates get locked at 4-5%? If nobody buys them the prices drop. Basic economy 1o1

Here in Canada, revenue home ownership is a waste of time and money.

Yes it is an asset that is constantly increasing in value. But saying that rent goes up every year versus a house price doesn't is NOT true. Our mortgage has got up consistently a little bit every year for the last 10 years. In the last 2 years insurance and taxes in Dallas have absolutely skyrocketed. So yes we own an asset but it's going up every year just like rent would.

Nobody will guarantee that your house price will not decrease. Its just a tool for the banks to make you a slave. Why we agree with this?

Some people in these comments need to just keep renting....the knowledge they have lol

Lies! Property taxes for up and insurance goes up making your mortgage go up. Save up during the year to cover any balances in you escrow come January-March

Now, if only there was a way to keep the property taxes and insurance from rising every year

"House price will go up" yeah but the price of everything goes up too so are you really getting value. What if you hold on then a reccession hits and your property gets devalued not overvalued like most properties are today.

Idk why I’m watching this I’m 25 and I’ll never be able to buy a house in America. I’m just an electrician with a middle class salary

Until your hvac dies and you need to spend $5000 to fix it. Then random stuff starts breaking. Then property taxes & insurance goes up...

Land value goes up, house depreciates.

Property taxes go up as well. That's not fixed!!

Your house payment DOES go up as your property value increases. The majority of people pay their taxes thru escrow. Sorry Dave. Number 1 is wrong because of Number 2!

Hey that was my episode I called in on! I bought the house🎉