Why Joe Biden's New Mortgage Plan Does NOTHING - Dave Ramsey Rant
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- Опубликовано: 30 апр 2023
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They fact that it doesn’t amount to more than a few bucks a month isn’t the point. The point is that they are doing these things gradually, but intentionally. See frog in boiling water 🐸.
It's probably closer to $40/month, and for 30 years that's over 14 thousand dollars. This is not inconsequential
Yes its the principle of it!!! I don't care if its .01, I should not be responsible for "Helping" people get mortgages they cannot afford (Which by the way caused 2008) when I've played by the rules for 15+ years
💯
@@gregoryfox6555 right on.. In this case it's not even necessarily that they can't afford it. FICO score isn't a measure of what you can or can't afford, it's a measure of your responsibility.
@@Paul-jp8zz it’s like nothing in California
That’s $15k more over the life of a 30 year mortgage. That isn’t “just a couple bucks”
If you are an American and $15k over 30 years is a life-changing amount of money for you, you are a loser.
Daves wealthy and makes his money off this, but he loves to pretty much slam anybody , has become so arrogant. Its not the amount the fact is it wrong period, and we all know it doesnt stop here.
15k won’t change your life 😂😂
$40 per month now. No doubt this will get "inflation adjusted" at some point. 30 years is a long time, in 30 years $40 will be worth $10 today.
you are not suppose to take 30y mortgage. It's extremely expensive loan.
Inch by inch, they take and take. So although it’s not significant now it could be later.
“They” who would this be? Lol 😂
To bad 80 to 90 percent of the population is either uninformed or propagandized.
Property taxes started small, look at them now. The gubment can always raise rates, and they will.
Thank you Dave for explaining this the right way. You will be missed when you retire.
Yeah I agree with you. The billionaires also do the same. Let's not forget who's oppressing who more
It’s not the amount that’s important, it’s the principle, getting people used to it, and they’ve already talked about going further!
Exactly, it demoralizes society
@@nessapalmer5316 this is one thing that annoys me, where do we draw the line. auschwitz didn’t affect anyone here in the states so why should we care, now I know that’s an extreme example but where do we draw the line. This is what they do death by a thousand cuts, politicians know they can’t just pass the most extreme policies right away, so they move a little wait for the dust to settle and take a little more and they keep going. Maybe we should do what Ukraine did and take a stand and say we are not giving even an inch of land to the Russians!
Conditioning people for a “universal basic income.” New age feudalism.
I agree with Dave, it’s all show but I agree with you as well- when society (who doesn’t think for themselves mostly) just keeps hearing it, it becomes familiar. Less scary.
They're getting ready to mint the "trillion dollar coin." If they keep racheting up the absurdity, people will think it's okay.
Definitely socialized mortgage 😢. Rich people are not affected because they can pay cash for houses. This hurts the middle class.
The middle class has been hurt for over half a century! Regardless who is in office
Well then follow what he's telling you and you won't have these problems... Why is it so hard
@@mathisnotforthefaintofheart Directors law
High Achiever Student: I aced the test, why did I get a B?
Professor: Oh that’s because we gave it to the student that got a C so that he could also get an equivalent grade. Equal opportunity grading system!
😢
That's called DEMOCRAT equity!!!
And math is racist therefore blacks all get A+.
Hogwash. Stop making up fake stories man.
It’s like participation trophies for losing! Yeah, we wouldn’t want these sensitive kids to be traumatized for life😅😅
They do this. Affirmative action
This is like saying inflation going up by a few percent doesnt change anything. Until it keeps going up "slowly" every year
And so do taxes….
How did you go bankrupt? Slow at first, then suddenly.
"it doesn't affect you (15 year loan)"
For now.....
It punishes the folks that are responsible, and rewards(in the short term) financially irresponsible folks, who will probably end up loosing the house anyway.
$10/month per $100k is $3600 over 30 years. That's real money, especially when you are talking higher loan amounts. It's almost $15k on a $400k mortgage.
Again, as Dave said, "If that much money changes your life, you don't have a life". 3600 over 30 years, which is over half of a persons working life, is absolutely nothing. If you are 30 years into your career and 3600 changes your life you have serious problems.
@@codywork-us7wu I agree with what you said, but you missed the point he's saying.
Over 30 years, 3000 is still nothing
Another reason to pay it off early
@@kylerider7125I think you are absolutely right!! Every penny I have extra is going towards just that!!
Dave saying sussy just made my day😂💀
Made me laugh too 😂😅
Went to the comments to see who else laughed at that
🤣 I'm dyin
😂😂😂
Dave owes me $1300 for saying "sussy".
This sounds like 2008 all over again.
I absolutely love listening to Dave and George 😂 They are completely hilarious. Hope this show never ends!
It will either when he retires, is no longer able to do the show or when he's at the end of his life and the others don't want to take over. Hopefully his son will take over at some point. He and Rachel could be permanent co-hosts.
@@katyedwards3935 That’s what often happens in family business.
@@katyedwards3935 😣
@@tanmay6367 What's that s'posed to mean?
Thank you for putting this all into perspective. It is definitely alarming that the politicians are playing games like this. It might amount to small potatoes now but the precedent has been set. Hopefully, it will be disputed and tossed out in court.
@Abbey Dunne How does this stop greedy developers and landlords?
@Abbey Dunne OH the tired, old line about those who have and those who have not. Ya, stop those evil people from building living spaces. How dare they. You missed the main point of this issue - precedent. Maybe next time they will raise your rate by 12%? Maybe, if you have good credit, they will require you to subsidize other people buying cars by forcing you to pay a 25% extra tax? Maybe, if you're a property owner they will require you to pay $200 per month in road taxes? You know, to help the poor, and to stick it to those evil greedy people! Viva la socialism!
P.S.: if you don't like any of that, and you refuse, straight to prison and a lien will be placed on your home. Say bye-bye to your property.
Hearing Dave say “Sussy” was the best part of the video 🤣
Right 😂
It is so much more complex than this! $1300 is a lot for me an RN, who was injured and unable to go back to work. Lucky for some of you that very very tough times didn’t happen to you!
This is still absolutely an abomination. Let’s go Brandon!! Punishing people for good responsibility
😣
Full blown Communism is what it is! It’s NOT welcome in this country…
The Trumptard came out of you quick. Bet you will be at church Sunday morning. What is "brandon"?
Lets go Brandon, I agree
Brandon
I do not care how much it costs; it’s based on the principle of the matter. Do not charge me anymore than what I need to be charged.
The stimulus lasted the trip to the Apple store to get the latest iPhone or a trip to BestBuy to buy the biggest TV. Lol
LOL did you nail that.......Exactly!! omg some people.
I know a few people who bought ar-15s with that check…. So ironic
Ain’t that the truth😂
Mine went to savings, because I knew it would come back to haunt me come taxtime.
"If $1300 changed your life, you don't have a life!" Good one, Dave. Love you.
Yea but that's kinda messed up. Not everyone can be middle class. I'm not in that situation but 1300$ is a lot to a great deal of folks I guess.
Truth!
LOVE DAVE but I went with a 30 year loan on my house. I paid about .125% more on the interest rate a couple years ago over a 15 year. I did this because if times ever got super tough, I was committed to a lower house payment. Currently, I am making additional principal payments each month to have it paid off as if it was a 12 year loan. Yes, I am probably paying more interest but that is worth the security for me.
I paid cash for my home for the same reason
Yea I went with 30 year in case of an emergency like me or my wife lost our job
That’s good.
I did something very similar, it makes sense to lock in a lower payment and just make additional payments every month. It helped me sleep well at night knowing that i'd be able to make the mortgage payments even if i lost my income. Which actually happened twice in the past 10 years.
Dave would have told you to by a lower cost house, but I did the same
His co-host is a “Dave” in the works…love his calm demeanor though when answering questions and giving insight.
He started out as a intern and learned well.
Good thing I've got a 30 year fixed locked in 16 months ago at 3.15%.
This reminds me of when my wife and I were apartment searching and found a place we liked and could afford. Then we were told we made too much money to live there. It was subsidized housing. We made like 80-100 combined. This was back in like 2005. Ridiculous. They literally turned away customers who wanted to and were willing to pay. Glad we didn't live there since nowadays that town is full of ghetto trash. Gee, wonder why.
I will blow my money on a home in a safe community n not eat out 🤷🏽♀️
*there
These are the consequences of living in a black ethno state. They literally make life worse for the rest of us.
Hopefully they’re full of tenants who don’t pay their rent.
Ghetto is the first sign of the apocalypse in terms of home value
I wonder, is there a single genius somewhere on planet Earth who can predict the outcome of punishing people who get it together while rewarding those who don't. Anyone? Anyone out there who can articulate the obvious outcome?
So they basically they are going to give loans to people that are already bad with money and can’t pay their bills as it is. Got it. So basically the new loan that they’re going to get this year they won’t have in two years when their house goes into foreclosures, right??? Have I figured this out correctly?
You are correct, Sounds a lot like 2008. Give mortgages to anything with a pulse what can go wrong??
Exactly...
@@DMoney505 Agreed, this is part of the reason the bank failures don’t bother me. It is their greed causing it.
The logic baffles me as well
Kind of like they do with auto insurance rates. Charging drivers for “uninsured motorists.” 🤦🏼♂️
This is like having twin sons or daughters they both attend school one gets all “A’s” the other gets all “F’s” you reward the F student with desert while the A student receives nothing. 🤔
1300 is important to me.
Dave, for the first time I disagree with you this new mortgage plan does plenty. It brings back the subprime mortgages and punishes good qualified borrowers all in one swooping motion.
Amen👍🏾
Yep, definitely agree. It's very disheartening to people like me that having doing the right thing, only to be now punished for it. Totally sucks!!
Yes!!
cry more. as a non-mortgage owner my taxes already subsidize all mortgages to ridiculous degree. be happy your mortgage rate isn’t as high as car loans, clown
Bring it back so this new generation can fk 💩 up like their parents did in 08. Endless cycle of dumb azzez.
I can’t believe Dave who advocates for knowing where each dollar is spent actually thinks this is nothing.
It is you blow that on cofee
I was thinking that too!!!!! This actually REALLY surprised me to hear these guys say this. :(
And I actually really hope Ramsey’s team will make a follow-up video to clarify on this. :/
How can you set a budget or live within your means, if you have no clue where its going, and in a months time i sure cant maybe you can.
As far as the gov knowing, isnt none of their damn business.
Thanks for being here Dave and co. I heard the hair on fire story over at Fox and came to your channel for the rest of the story. God bless you.
It was still nice to get $1300. (And more later) That just means we were taxed too much to begin with.
$1300 did change my life! I bought more ammo!
brilliant!
Dave, thank you, you are the only person who really make great common sense and because of your advise I got out of debt in 2007 so thank you.
An attack in the middle class.
According to Dave’s standard (15 year mortgage and no more than 25% of your take home pay) you need to make 180k to purchase the median priced home in Utah. The median household income in Utah is around $75k. Is his advice to just rent? Home affordability has gotten so far out of hand, that no one would be buying homes if we actually followed, these suggested metrics.
Dave saying sussy made my night, was not expecting that😂
Never thought I’d hear Dave Ramsay say “very sussy”
My 4-yr-old: That man that's in your phone said "stupid butt's" 😂 I missed that part but my kiddo got it! 😂😂
"The guy on your phone said stupid again, I just want to break your phone" I think he's concerned 😂
🤣🤣🤣🤣
The word stupid/fool is fair game cuz there are those like that😅
George really knows how to get Dave going 😂
The fact that they socialized your credit score is the story. The amount is a detail. It’s just the sneaky opening salvo of disastrous potential.
George: “you’re going to get cancelled again Dave what’re you tryin to do here” 😂😂
This was great and I'm walking away with "You are the problem and you are the solution your help is not coming from the Island of Misfit Toys!!!
Let’s hear more after the first executive from a failed bank goes to jail. Didn’t happen in 2008. Won’t happen in 2023 either
So Student Loan Debt Hasn’t Been Cancelled But There’s A Plan To Boost New Home Ownership lol. 😂
Been wanting you to speak on this for the past week
George has gotta be Dave’s biggest yes man ever!
He need a job 😂😂 shidd he playing the game
I was waiting for this one!!!
I love this so much thank you!
Thank you, Dave! TRUTH!!!!!
You both tell it like it is! Thanks!
Love Dave! Raw up in ya face truth!
Unfortunately all those checks for those who qualified along with corporate hand outs have cut our purchasing power in half. They gave with one hand and took with the other with inflation.
The hand that gives you something controls you.🤷🏽♀️
Spot on, Dave!
The thing with progressivism is that it never stops. The name literally means moving forward, regardless of if it is good or not. It will move to everyone more and more
I love it! You never know what you are going to get.
And the more it fails, the harder they have to push it and silence anyone who disagrees.
Yes you can make progress if you want to move backwards or anywhere else. You can even say it's the right direction because it's all relative.
@@francismarion6400 Well that is Conservatism. You are regressing everything back to how it was.
@@wewhoareabouttodiesaluteyo9303 I I
I could see why it would seem that way however, I’d say it’s more about preserving established institutions
I love when Dave screams 😂
Here in Florida governor DeSantos
Approved a bill called hometown hero’s and it’s a real downpayment assistance program granting first time homebuyers up to 25k and lowers all other closing costs. I’m a lender in Florida and this is helping out thousands!
50 million in assistance is not even 0.5% of the help Americans need to buy a house. You can’t spend your way out of this. You need to build more affordable housing.
Someone's always paying for it.
Sooo, you mean people who really can't afford a house can get one, just like in the Clinocchio era. That ended well, can you say AIG?
I agreed to the sale price (no haggle) if the bank that owned my home would pay closing costs. Mine was a foreclosure.
Thank you Dave! 👏🏿👏🏿
$1400 didn't change my life, but it did help me. I am working diligently on the baby steps.
You absolutely missed the point if this video. But it’s okay though ‘cause you were too busy counting your airline miles 😅🤦🏼♂️
@@mikenelson8377 you have no idea what you’re talking about, Mike.
Let’s go Brandon!!
Brandon won bruhh
He sure is listening unfortunately.
Say the uncensored version instead of the PC snowflake version.
@@noneofurbiss doesn't make him a good decision
Let's go Brandon
Awesome show Dave 😁
Love ya Dave! Thanks for all you have done for us!
Thank you dave
It was so good to listen to the show on my driving to town. I feel like I have been set free. I was going from one channel to the next listening to the doom-and-gloom preaching. Thanks again
What's bad is good and what's good is bad STRIKES AGAIN!
1/8 to 1/4 is significant! Reminds me of 2008 all over again. I'll be ready this time around like Warren Buffet said.
Same here... I need a bigger house and I then can rent my current one...
Dave had to say it in Spanish for us at 5:08 lol
Ayooo 😳
It's not in spanish
Spanlish😅😂
Well said, Dave!
Dave and George duo is priceless
Right right and right Dave
It's still wrong. They start small.
😂not the hot air Chinese spy balloon 😂😂😂 I love their banter
Love Dave Ramsey!
That 90's vid going around of quiet, polite dave is night & day from what we have now.
Unfortunately a LOT of people are too stupid to buy a house.
You mean fortunately. If those people were allowed to buy a house, we'd have 2008 all over again.
A lot of people are too stupid to do anything, nevertheless buy a house.
@@redfox_84 Well, today I'm laying on the couch being a grape. But I do own the house I'm in. And a few others. It's cold outside so I'll just vegetate. Today I'll act like a Millennial!
Smells like 2008.
@@WookieSenshi We learned NOTHING from history.
Dave needs to tell the truth here and say it does absolutely affect you and being responsible is causing you to be penalized. Also, when the irresponsible idiots that get loans default on those loans we will all pay for it. I get it, Dave doesn’t want you to get distracted from the financial goals by worrying about politics but we can’t avoid the stupidity of the situation either.
Telling the truth is to say Americans are not capable of "being responsible" - they're simply too stupid.
2008 effected people that always paid their mortgage too. ALOT of people lost their jobs or had their hours cut down at work. I remember that 💩 like it was yesterday
How about doing a show on the joys of giving blessings to others once you reach your goal! I heard it’s a joy like no other! It might give you something to smile about when you look back on this life from heaven!
I love Dave Ramsey.
What percentage of people from the millionaires study used a 30 year fixed rate mortgage in their life?
Nailed it!!
Yep, my 855 fico is now a hindrance
So glad I worked so hard to maintain my 850.
High af atm, love dave
george coming in with the swiftie lyrics haha
If I was a movie director, I would have dave as lead for a animated character. His voices r hilarious
This is beyond ridiculous. Smh
Mr. Ramsey I love I. The way you talk.I liistenig you show in night time for long time.Thanks.God with you always. Blessings.
The one thing I haven't been able to find is if it is retroactive to current loans? I have had a few people at work ask me this and my assumption is that it is only on new loans. It doesn't apply to me personally but I wanted to be able to answer people asking.
Cynicism a major part of being Gen X. Stay the course and become financially independent. Stop playing "their" game.
Dave nailed it
It’s like they learned nothing from the 2008 financial crisis. You shouldn’t incentivize irresponsibility and punish those who are responsible.
Let the slippery slope begin
Rich people don't have mortgages. They give them.
Its not the money. Its the principle of it. This is just one of the precursors of whats to come.
Punch line ‘They Did Nothing.’
This is the starting rate - foot in the door to increase until much more significant.
You love a good rhyme 😂
Don't do the right thing and you get freebies. Be responsible and you get penalized
Americans don't know how to be responsible anyway so it's a moot point.
That's what I was saying when everyone was so excited about 10k cancel in student loan... if that changes your life so much you are in trouble
The real people that are in trouble are the people who 10k off their total student loan bill would be meaningless. As in they have 100's of thousands in student loans.
@@eli-bt4he People who only have 10K on their total bill also think it's meaningless because they'd have it paid off in a few months anyway.