Title | : | I Feel Like Renting is Wasting Money |
Lasting | : | 7.23 |
Date of publication | : | |
Views | : | 875 rb |
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Work with a trusted real estate agent when you are ready to buy: bitly/3CWZGsS Comment from : The Ramsey Show Highlights |
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Don’t hold your breath on the government coming in on a white horse to save you You will die Comment from : Truth finder |
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When you buy a house in the US the house and government will own you Freedom is my home Comment from : CHIRANTHA |
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A person needs at least $1,10000 a month to purchase a new home Refinance it down to a reasonable amount so that you can afford other things of necessities Comment from : William Johnson |
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There income is really really good especially for there age $10,500 a month take home Comment from : Mark Carlson |
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"Because they're not gonna be forgiven and you'll be saddled with them the rest of your life and they are the major impediment between you and building wealth That's the bottom line"br2 years later it seems prophetic Don't trust empty promises and get a head start on your debt Comment from : C W |
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"Student loans won't be forgiven" This aged really well Biden fooled everyone for votes Comment from : John Paul Thomas |
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Dave Ramsey- good for 90 of people will prevent the other 10 from being multi millionaires imagine never asking rates on the debt student loans can be out around 25 who in their right mind would pay that off in full Comment from : Anthony Doherty |
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Nobody wants to rent!!!!!brNobody is building Affordable housing for the middle class or the poor!!!!!!brIt's GREED!!!!!!! Errrrrrrrrrr Comment from : Lip stick |
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Dave pal I just locked down a 1200 month 750sq My take home net total is 80000k?brbrAM I GOOD BOSS? Comment from : Xi Pooh Jinping |
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I absolutely agree with Dave's philosophy but actually, in the late 1940's when FDR signed the GI bill offering discounted rates and some with no down payment to soldiers coming home, my Dad (WWII pilot) and my mom in their mid 20's bought their first charming little tract house in Detroit (Sadly that program was not offered to black soldiers) Within a couple years they had a child and Dad had a good job and they moved to a bigger house in the suburbs So sometimes government programs do work Comment from : CuriousCat |
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There is nothing wrong with renting just like there is nothing wrong with buying The difference is choosing which works for you Comment from : jasonsong86 |
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I started stacking to SAVE wealth I've always been the type of person to spend my entire paycheck I hate having money just sit in the bank I am under pressure to grow my reserve of $950k before I turn 60, I would appreciate any advice on potential investments Comment from : Quinn Conor |
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Terrible advice given interest rates at the time vs now Always buy real estate as soon as you can get a loan for it Comment from : Marcus Tullius Cicero |
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You could be wrong Comment from : Steve Starr |
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Why are 23 year olds rushing to buy a home?? Im 24 and dont plan on buying till im 30, and i make 140k a year 140k in savings as well, not buying a home untill i have 500-600k saved, these people have nowhere near what i have saved and i would barely afford a home rn, i know inlts smarter to be living home and saving so im ready and wont end up living paycheck to paycheck Comment from : RichL4899 |
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Terrible advice from Dave Everyone should buy a house as soon as they possibly canbrbrEdit: Two years later from when Dave gave them this awful advice, house prices are up 30 and interest rates are now 65 instead of 3 Hopefully this poor caller ignored Dave's advice on this call, otherwise she'll be paying hundreds of thousands more for her housing payments over the next thirty years Expensive call!!! Comment from : Davey James Olson |
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I needed to hear this Thanks, Dave! Comment from : Riel |
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This did not age well lol Comment from : Jon Burton |
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All of his logic is thrown out the window when you talk about living at home with parents to save money Comment from : Thomas K |
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"I'd rather move from an apartment to a house than a house to an apartment," -- Best aunt quote ever Comment from : Anthony Copter |
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The huge crisis in excessive home cost inflation and mortgage debt is because people have this idiotic attitude that housing only goes up and it’s the best investment Calling it an investment is just an excuse to overspend on something that makes no sense financially The government needs to abolish these mortgage insurers and we need to go back to 20 down or no deal If you can’t do 20 down it’s because you are not in good financial health and should not be buying a home in the first place Drowning in debt is not a blessing Neither is a 30 year loan amortization that makes you pay so much interest you paid for the home at least twice over brbrThe 20 down 15 year amortization rule is the only sensible way to ensure you are spending wisely If you can’t do a 15 year term you are buying too much house you can’t afford Comment from : Robert Frank |
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So out of touch with reality again 2k a month rent in dc is very very reasonable Comment from : Long Nguyen |
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when you rent, you pay for what you use and you are not tied to anything Comment from : Mr Crowley |
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The excellent thing about owning is that you build equity Renting is building the landlords equity I do agree with saving at minimum 20 to 30 (more preferably) of your home you want to buy And having excellent FICO so you get the best rates Before owning a home you should also have 4-6 months emergency fund And the mortgage payment would optimally be <15 Gross Comment from : iwantcheesypuffs |
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I live better making $75K/yr in NC than I did in Arlington/DC areas making $130K/yr Don't let the numbers fool you Comment from : Juh Dah |
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Young black man like hard to find in USA Comment from : NOSTER pierre |
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This duo is like fire and ice It’s pretty dope Comment from : AND THEN WE STOPPED IN COLORADO |
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Dave must think this is 1980 2000 a month is a steal in arlington Comment from : Pimp named slickback |
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She rolled her eyes hung up the phone and said “what does he know!” Comment from : Z • |
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Can you find a rental in that area for under $2000? Comment from : Ed Stoner |
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It’s not wasting money because at the end of the day you’re spending money to keep a roof over your head🤷🏾♂️ Comment from : MrSimon92 |
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I think about renting as buying a bigger down payment Comment from : ripsirwin1 |
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If your in debt and planning to buy a house is like digging and burying yourself half of your body in the grave Comment from : Densky |
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Dave isn’t against owning a home, paying mortgage interest, or having a mortgage He just wants you to do it WISELY so that the home doesn’t own you and the home is a blessing, not a curse Comment from : Topsy Kretts |
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some folks renting a house across from me, they've been there for 6-7 years I feel like they're never going to leave lol Comment from : Peter Lee |
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I don’t! I’m a busy single mom My rent is reasonable and I don’t have home responsibility I invest the difference Comment from : Republic United |
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Did you ask what kind of vehicles they drove Comment from : John Mitchell |
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RICE&BEANS and Condoms plenty of Condoms Comment from : John Mitchell |
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margarita i bet she's a lot of fun Comment from : John Mitchell |
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It is wasting money better to find a house you can afford and buy it on a fixed interest rate and plan to have it payed off before retirement a lot of people is paying a mortgage and paying rent in retirement and that hurts Comment from : Herman Rogers |
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I like this Co Host Really soft Spoken and easy to listen to! Comment from : ROIDO |
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and right now (2023) in many states, property taxes are going up!brYou have to crunch numbers for your own individual situation to see what you can afford and what makes the most sense brEveryone's situation is not the same Comment from : Shayla Ahava |
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2k a month isn't that expensive for their income imo Comment from : Bwuk |
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If it wasn't for women men would live in a cardboard box But women caint going for that Comment from : Greer |
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I'm glad I didn't follow this advice At 23, we bought our first home in December of 2018 for $250k (new build, so maintenance was minimal) Our rent at our apartment was $1200 a month, and our mortgage was $1600 We just sold our house for $390k, and used the proceeds of our sale to pay off all our debt, PLUS we put a huge down payment on our next house We will have the new house paid off in about 10 years Oh and our old apartment complex is renting the same apartment we were in for $1750 a month now Comment from : Tim Boatman |
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I don't get why Dave is against VA loans you served in the military you deserve that loan Comment from : Cliff Reeser |
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Where do these incomes come from? Seriously? You make 130k a year and biтch about 2k rent a month? Pathetic Comment from : Speak Up |
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How can I submit a question? Comment from : Queen of Divas |
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Not sure I agree - it is a waste Properties are only going up Comment from : JOEY MATHEW |
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Dave is the best host Second would be George Comment from : MrKeysProductions |
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NawI disagree ‼️ Now buying to much of a home is wrong Renting are for suckers ‼️🤷🏿♂️ Every dime I put into my homes, The majority of times I got back more money when I sold them Comment from : Joseph Johnson |
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"when your broke friends are making fun of you" Fuego, Dave Comment from : Javi 1 |
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“You rented too expensive! $2000 a month! You got a nice place!” Yeah Comment from : Robert Rostad |
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Could I afford a mortgage being single making 34k net a year? Comment from : Victor Yang |
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People tend to forget that you must rent your property from the county for as long as you own it Comment from : Bill Suraci |
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Consider also, that you could go a different route than buying a full big house What about a bungalo or a smaller, cheaper place to live that you could still manage to have a partner and child live in comfortably Look into cheaper housing options that you can own What about living in a caravan somewhere (if possible based on location etc), rather than renting? It could be way cheaper than renting a flat Comment from : Chris McCaffrey |
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2k a month is okay but its NOT something you could “move down” from especially if you wanna live in Arlington anything bellow that is a depression milkshake for anyone and everyone no matter how Texan you are Comment from : C_sauceda64 |
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I don’t listen to what you clowns say if anything you making money of all this view and all this people are listening to you clowns Comment from : Home accessories |
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The other video he’s saying to rent ! Think for your self please Comment from : D show |
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I bought a house for $700 a month It's small, but for an apartment the same size it'd be 1200 or more Renting made no sense for me Rent is sky high right now Buying might make more sense Comment from : Iomis |
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Why does Dave assume that people a bre purchasing a home to impress other people Maybe your purchasing a home because you need somewhere to live and that same $2000 a month that goes towards rent could go towards a mortgage I think Dave just encourages people to rent so that he can have plenty of potential renters for his many rental properties Comment from : Leaundrae Shepherd |
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Wish I made that much I only make 50k and I’m 30 years old Nice job! Comment from : XRay Pluto |
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paying back a 0 loan is dumb full stop Comment from : James Dixon |
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The crazy thing is when he said arlington is expensive Los angeles where I live is crazy 2100 for a 1 bedroom Comment from : Digital Historian |
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Renting is wasting money Live in a van until you can afford to buy Comment from : Christine Butler |
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Look at the black dudes face at 1:19 trying so hard to mimic Daves movements Comment from : Deepinurmom |
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Renting long term is a waste of money, but renting while you're trying to get out of debt or saving for a down payment isn't Comment from : Nicholas P |
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These people can afford it either way and should do whatever makes the most mathematical sense Given the high interest rates on student loans, most likely it makes the most sense to clear the decks of those interest costs They don’t need to move to do it eitherbrbrAlso a big risk to buy a home as consultants at 23 The majority of graduates who go into that line of work and move to a place like DC don’t end up there permanently That’s another good factor to consider Making $130k now right out of school their incomes will likely rise quickly and they won’t have any problem paying $2k a month in rent or doing whatever they want to do later Comment from : Adam Seidel |
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I like how he thinks Dave knows more about when he bought his house than he does Comment from : mescetacy |
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I actually know two different teachers who had their student loans forgiven, one for 45k Comment from : CA Bayern |
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their rent is like 1/5th of their take home pay that’s probably not the issue Comment from : Jimmy Butler Enjoyer |
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Yolo 😂😆 Comment from : yuri reyes |
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We are renting now However we are in our 70's and and could keep up with yard etc Wallet is always open on a house Comment from : Leatha Ray |
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Good advice, and living in a lower cost rental would allow them to save much more for a bigger downpayment From 1974 to 1978 our rent was $98/month and that allowed us to save 16K with just me working There may also be a RE correction soon with the war and inflatioin happening now Comment from : Mike Tracy |
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Ummm…I live in the DC area and $2000 a month in Arlington is very low lol Comment from : mazdaohio |
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You are correct, DaveAGAIN! Comment from : Paul Kelzer |
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renting can be a waste if the options of being bamboozled is turned on and most landlords be loving them profits are there such things as bad and good landlords ? seems like karma should be tied into them Comment from : Fatty Love Handles |
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I've friends who started their mortgage struggling and borrowing from family and friends to make up the deposit, I could literally see they were struggling Comment from : Symlex Brn |
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2k a month is not enough to rent around the DC area unless you move to the projects Comment from : TheBurgold |
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Renting here in Canada is a total waste of money! Comment from : Dupe |
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Getting out of debt is like losing weight it takes something from within you to make a conscious effort to change Thankfully I am a natural saver, so it takes effort for me to spend money Comment from : Og maco Sheesh |
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Owning a home you can afford is much better than renting! Comment from : Mrs M Hudson |
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All of this is great advice if you do not live in an area of high demand Comment from : Malcolm N |
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I bought a house for 100k with 80k in student loan debt making 40k per year The house is now worth 200k and my student loan is almost gone She should find a house to buy with a mortgage less than 2k per montha fixer upper with the chance to appreciate in valueDave is right most of the time but not all of the time Comment from : Ben Wills |
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Renting is better Less over head cost and not stuck anywhere Comment from : joel diaz |
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Dave is sorely mistaken if he thinks $2k/mo in Arlington, VA is high for a family of twobrbrNow, don't get me wrong, it is cheaper to live in the crackhouses of DC, PG County, but I feel like her goal is to be alive long enough to see debt freedom Comment from : Romeo MK |
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i love hearing them hate what youre saying cause your right and they dont like that Comment from : luke horten |
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When my heating went out in the dead of winter Thank God I was renting Comment from : A DOE |
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As someone who inherited a rental property, I can tell you that your rent money isn't all going into your landlord's pocket Taxes, insurance, maintenance, HOA fees, maybe even a mortgage payment -- there are lots of places those dollars go before your landlord sees a dime Comment from : Greg |
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i'd love to see daves renting advice in California it's 2k minimum everywhere i checked now for a 1 bedroom not even including utilities Comment from : Mike |
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80k in debt what a joke the USA is lol That is no way to live Comment from : fraser123 |
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10 year mortgages were the norm in the 1960sbrMortgage burning parties were the goal of every homeowner with a mortgage Comment from : F Huber |
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