You're Too Broke To Buy This House! (You Don't Have Any Money!)
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- Опубликовано: 31 авг 2021
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Hold!!!!!
I’ve never seen John this angry. Wow. Yeah not a smart idea.
Dave: “How can I help?”
Caller: let me tell you my entire life story before getting to the point.
Hahaha
@@Elyzbet I did this exact laugh reading that 😂
And stop laughing about being in this bad situation. Who does she think she is? Kamala Harris??
And SOOO impressed with herself as she talked on and on unnecessarily.
I know omg I was rolling my eyes while listening lol blah blah blah
So many people don’t know how to give RELEVANT details. This was brutal to listen to
She spent a LOT of time trying to sound impressive….
She talked about everything EXCEPT the pertinent information.
This comment is brutally (and hilariously) true.
I wouldn’t hire this person for 135K! Not even half of that.
Ohhhh definitely.. just like waffle waffle blahhh blahhh come on lady… edit yourself… 🙄🙄 even Dave said he got a bit lost!! Haaaa “just stop a sec I don’t want to hear all that…” 👍👏👏👏 ohh poor Dave!!! Phew
Dave: asks a simple yes or no question
Caller: begins answer by reciting the preamble to the US Constitution
🤣😂😂
You win!
😭😭😭😭
😂
I'm watching this in the shower and woke my gf up laughing so hard lol
If you have to pull money from your 401k for the down payment you can’t afford the house. Don’t sacrifice your future for your now.
@Austin Duke then I would buy a house within their realistic price range.
@Austin Duke If the house is unaffordable, the future might be pretty dark.
@Austin Duke your house isn't going to pay you to live when you retire
@Austin Duke you have your whole life to buy a cheaper house than this lady does.
@@FrankS111 home prices keep rising. There isn’t a realistic price range anymore lol
She's not going to be laughing once she realizes she gave her life to the bank.
No kidding - that’s about 45% of her take home (assuming she did a 30 year). Would be closer to 65% on a 15. Crazy stupid
That monthly mortgage payment is going to be no joke.
I don't think the bank is going to give the full mortage required. Then she's on the hook for the remainder, which she cannot achieve even with selling all these 27 different accounts she has money in. Or maybe she can cover it with equity from her previous house.
Exactly
This is why I’m in no rush to buy a home YET. I can get a $200k-$300k home here and that’s all I’ll need.
I loved the comment Anthony made on the show where he said “I wasn’t wasting money renting because I wasn’t ready”. Changed my life
I remember that episode. It still guides me to this day.
@@susanner35 I can’t stand when people put down renting. Do what is best for your situation, weight the pros/cons of renting and homeownership. There are people who are financially independent and who love to rent. There is no one size fits all solution
@@tyrecarmon20 yeah me too. I love my tenants.
It's great advice so long as it doesn't make you complacent to rent. People will think "I'm not ready" until they reach their deathbed
@@bsolutions525 me too 🤣🤣🤣
I can’t wrap my mind around a $750k house making $130k a year. I make only $20k less than that and I wouldn’t spend $300k on a house.
What do you do
Lol same here
What job do you have?
bless you for thinking like that.
Agree 100%. Mindset is on point.
Her first mistake was answering Dave in a way that didn’t allow him to reply “Better than I deserve.”
😂
I’ve never been happier until I downsized to a 960 sq foot home. Zero debt, no stress, can work literally anywhere for any amount and be totally fine every month. I can’t understand the necessity for a huge house with a crazy high mortgage.
Are you single?...... Lol
I'm with you! We live in a paid for house about the size of yours! So much easier to keep and clean a small house!
@@droolalot5795 see what mentality is that. What is the difference between him having a girl or not. So you're saying if he had a girl that makes it ok to have a big payment...
Shacks sells at crazy prices now
It's called "ego".
The theme this week is: "Fancy degree, but zero common sense"
World full of that Kara !
Common sense is not common. It's an oxymoron
Why is she in a hurry to buy if she only has 10% and thinking of taking a 401k loan? She is on the road to being house poor.
There's no "but" in that sentence. It's "therefore".
You are exactly right - earlier this morning was the Tesla chic and her PhD husband
Replacing "Why is this happening to me" with "what is this trying to teach me" is a game changer.
That's a great way of putting it! It's tough in the moment but I like to look at experiences with the mindset of 'who knows what is good and what is bad'
Internal locus control is always a great attribute. Change the blame game, to self accountability. Humble pie is not tasty, but it’s extremely beneficial for growth.
It is!
Absolutely...the Universe reveals the path if we are willing to see it.
@eckankar7756 ...no...the universe is not a conscious agent...it has no thoughts or intentions and does not give direction...
She’s not broke. She’s illiquid. She can’t afford a $760k house, but people want what they want! People rarely follow this advice because they’re not even following the baby steps.
This is a fair point. She has all that Roth and 401k at 28 and on 130k. She should be a millionaire by 58 if she keeps up. The house is probably an excitement though. And she didn't mention if she has kids or not. So for the short term, she doesn't even need that house.
Yes I pointed out in another comment that she technically could have liquidated all that and afforded a nice down payment plus EF on a lower priced house. The problem is not that she can’t afford a house but she can’t afford this one.
She should never consider retirement accounts as a source for funds. The second you consider pulling funds from a retirement account and ruining your future is when u cannot afford the home.
@@fireseeker4him Virginia is expensive
@@Lianne459 yes I know. I used to live in MD. You can get a decent-sized house in Arlington for a lot less than $750k.
The giggling when Dave is trying to give her advice says he’s talking to a child
Most children would be easier to listen to, and make more sense than this twit.
I’ve come to realize that sooooooo many people around this age refuse to grow up. That 25+ crew. I met a guy that was established in his career and making darn good money say he missed college. Now he’s a professional with a party addiction. What gets me is the ones that refuse to grow up BUT they still make kids. If you’re going to be a grown child then please don’t bring and actual innocent child into this mess.
@@purrfectnails2473 women are extremely immature on the whole until about 27-28
I’m surprised Dave let her go on so long saying nothing lol
Caller: *Tells life story*
Dave: What's your household income?
I think he was spacing out. I almost stopped the video.
She was all over the place
This one is a Rambling champion!
He zoned out for sure hahaha
Sell everything I have including retirement to move into a home that is probably massively inflated at the moment. (Sounds like a good idea).
Ha !
Houses are at their lowest point in 30 hrs, wym?
Maybe. But I don’t know if anyone really knows if housing is inflated or if it’s going to continue to go up...
@@hungcapitalll at highest price of all time though
@@caliopeknows844 tell that to 2008
Being broke is a hard way of living a life. It is terrible
Caller: I make 130k
Dave: you're broke
Homeless guy: 😑
correct plus homes cost money to maintain not just the payment
Lol she thinks she's so smart and doing things right, love it when Dave stomps on their egos
I think she _is_ doing everything right, except for the house. She has squirreled away a lot of wealth for a 28 year old, but she just bought too much of a house. The fact that she's saved so much makes me think she does that the discipline to delay gratification when it comes to tous. She should have gone with a $200K house.
@@stephenshelton4267 she lives in Arlington, VA. You’re not getting a $200K house anywhere within 2-3 hours from Arlington 😂. Now that’s not saying that she couldn’t have gotten something much cheaper than she did, but $200K won’t happen around here. We moved an hour+ outside of the Arlington area and pretty much it only gets as cheap as $350K for an old house.
@@DaddyMaverik
This is true! My mother lives in Arlington and her condo is not far from the Potomac and I know she’s dropping close to $4k. It’s a beautiful view, don’t get me wrong, but sheesh!
@@stephenshelton4267 She has barely saved anything. When I was at her age making the same money I already had $1.5 million in the bank. She has practically only saved $5k to $10k per year...
You have nasty heart. She may be misguided but that doesn't mean she won't figure things out later on.
Not only is the house $700k+… she probably hasn’t even thought about maintenance…
Or furniture and appliances lol. Going to be a very poor experience for her.
Or utilities
Or property taxes.
@@michaelfjmusic exactly, even more of a problem
And the interest she is paying.
Thank goodness that she held back on disclosing to Papa Dave that she just purchased a Tesla.
Absolutely, wouldn't doubt it.
😂🤣
😆
i-understood-that-reference.gif
😂🤚
Johns face the whole time is priceless.
I can’t stand him for some reason, he always is lost for words for someone with a phd and he always looks to Dave to bail him out lol, Dave gives better advice than John
Depends on the advice. Isn't John more about psychology?
@@wanga220 That’s no accident. Does anything about Dave strike you as him being someone who would bring on air a sidekick that steals his thunder?
🤣🤣🤣 I got anxiety from this caller.
@@wanga220 John's own show is SO insightful and helpful. He's very intelligent IMO
Word is she's still talking!
with her parents asking for that money
LOL, and still very impressed with herself.
@@JustinCase780 and apparently the parents have offered to help... this is the parenting that is raising this brat into what she is today. Now she’s handed over to society to deal with. “Hey everyone, it’s your problem now!”
@@AaBbCcDdEeF she called them immediately after getting off the call...well actually not until after first hitting Starbucks for some eight dollar concoction
Lol 😂
My question is how she even got approved for a $750K house making $130K. 🤦♀️
130k is a lot
@@thegamingfox2533 Yes, and 750k is almost 6x of 130k! It's insane.
I was shocked when Dave kind of glossed over that part. His cohost sure caught it though. That amount of house on that income is way out of whack.
130k income for 750k house seems OK to me. Provided the person can make a good down payment, has an emergency fund, and their income is stable and is expected to grow higher over time. Plenty of people making $40-50k/yr buy $250-300k houses which is the same ratio. You notice Dave is not worried about her income they’re worried about her lack of financial preparedness and organization in making the purchase in the first place.
@thegamingfox2533 I make 150k base salary + 60k stock units and I bought a 400k house and that was towards the upper end of my budget
Did anyone even ask if she had any other debt? We don’t even know if she has car or student loan debt
She definitely has student loans I’m sure
She’s too hyped up thinking dave will become her fan getting a house at 28.
Who screens these callers? Why don’t they tell them to organize their thoughts before getting on the line with Dave. She didn’t make any sense at all.
Probably why she is cashing out her 401k to buy a house. Lol
Because it makes for good ratings....we all stayed through the call because we couldn’t believe how dumb she is and how Dave would react. We wanted to keep listening!
The way she rambles on and on, is a reflection of how she lives her life - scattered and chaotic.
She won’t do what they said but they have scared the heck out of her though. That’s a start. 🤷🏾♂️
760K home... single 28 year old... INCOME... $130K (WOW). She makes $130K and only had $14K saved... bells ringing. She needs to borrow $50K from parents to avoid PMI.
0.25% increase in mortgage rate = 10% in down payment at my CU
Parents should teach her some life skills by not lending or giving her money.
all bs
I just want to know who tf told her that it was ok to buy a house for that much when she only makes 130K. She doesn’t realize that she isn’t ballin’ like she thinks she is. Hope she enjoys being house poor.
It's a pity people keep forgetting that a home ownership cost is not just the price of the house. When Dave asked her about having an emergency fund, I really hope she heard him, because the cost of settling in and sorting whatever you meet when you settle in can be almost the price of the house.
You are absolutely right. Buying a house is one thing. The upkeep, utilities, & repairs are an entirely different thing. I feel like there should be another baby step when buying a home...."house emergency fund" or just a "house fund"
I always keep in mind the age of things such as A/C unit, hot water heater, roof, etc bc I know one day I’m going to have to shell out some good money for one of those
Yup just bought a home too, and even though I had an emergency fund all got wiped off within the first month of moving in to replace what was needed. If you are already having trouble coming up with the down payment, DONT buy a home. They’re expensive
And the property tax on that house is going to be at least 7k a year.
@@katewarner1623 I didn’t catch where she was from if she mentioned it but a home here in north NJ could easily be $20k in property taxes for a $750k home.
That's the longest I've heard someone ramble before Dave stepping in and interrupting her, 😂
Dave must have been in a good mood that day. Lol
They probably needed a break after this call.
Shes a first time caller
I lost track after about 10 seconds of her talking
Who buys 3/4 million dollar house with no planning?
This lady
Somebody in Arlington, VA. They all do it. Meanwhile, she could have bought a nice house just a bit further out for half as much.
Somebody with wealthy parents who will step in and fix it.
🧐…An imbecile…😏she crazy
Lots
That's what happens with so many people believing that renting is throwing money away: they becone house poor because they need to buy at any cost.
She just listed every single thing on Dave’s “never ever do” list
Dave went bankrupt making bad real estate deals, now he makes millions advising people. Dave has some of the worst real estate advice ever.
Sadly she thinks she knows A LOT MORE than she actually does, and she is taking tons of bold actions based off of her faulty "knowledge". She will tragically financially implode on herself one day, and likely sooner rather than later..
Exactly what I thought ! OMG girl, slow down and pls educate yourself. PLEASE !!!!!
@Paul Schwartz That's it but I never heard the term . So, I googled it, of course !
Big time. She sounds like she flexes this banter at weekend brunches without respect to a financial reality
Shes not broke at all
@@kadedah2077 I don't think anyone that she was broke. Just that she could be a little wiser w/ what she does have. I guess that would apply to all of us. At least me, anyways !
Did she say 776K house on 130K income? How is that possible? On a 15year fixed that would be over a 5K payment even on a 30 year fixed its super high. The PMI on that is crazy as well. What was she thinking? 🤦🏽♀️. She may be better off just loosing the earnest money and backing out.
Yeah, I think that's what she said...going to be big time house poor.
I cannot imagine what the tax and insurance would be on that house!
Add taxes... add insurance... and as you mentioned PMI... on 30 year (2800 plus big property taxes, PMI and insurance) she's going to be up over 4k on bringing home 6.7k after taxes. 15 year? That probably exceeds take-home.
Isn’t that like close to average income to house ratio ? Average income is like what ? 50k ? Average house cost is around 200k ? It’s 4x deal. She’s doing a 5x thing. Not the WORST case.
She wants a masion
That range of home value for a single 28 year old in Arlington is only for the purpose of impressing people.
I thought the same thing!
We bought a brand new home a year and a half ago, and every single month there is something with landscaping here in FL that comes up, or some general thing to be done that runs in excess of $1K. Dave’s point of the second you buy a house things will start to “fall in” is COMPLETELY true. Home ownership is a blessing, but it comes with A LOT of responsibility that you never knew about until it happens.
There is nothing with "landscaping" that you have to do. Is there a sink hole in your front yard? Lol
To say she has no money is wrong, she has a good amount of wealth and income for her age. It’s just that a $720k house is absolutely nuts
I think that someone making 130 that has to cash out stock In order to get to any money is bad. She should have money in the bank
No..she's buying WWAAAYYYYYY too much house
But she has no money though. If you’re making 130k and only have 14.5k in the bank while trying to buy a house of 750k, you essentially have no money. And that’s not taking into account taxes.
@Magnus Red 130k at 28 years old is low income?
@@johnnybravo2926 with a 5-7k per month (depending on taxes) mortgage it is
Who else is thinking there's probably also debt somewhere in all this? She says she's a "big fan of the show" but seems to watch it as entertainment and completely ignore the advice.
Lady is buying a house that costs nearly 6X her yearly income. SMDH 😔
She is going to be house poor.
In arlington itd be hard to do better
Did I hear wrong..she said she is making is 130k?!!!
That’s not that out of line even Dave said so
@@yoopally4136 So, don't buy in Arlington.
"Just STOP a second, I Don't wanna hear all that" 🤐😲😳
The first step to buying a house: Have an emergency fund before you even think of buying a house.
That is a necessity 💯
Yeah, I did it all backwards, but I worked in construction for a few years, so I'm not scared to take the whole house apart and remake it, if necessary. I got rid of knob and tube, reversed a kitchen, got rid of a lot of plaster and lathe. I was even unemployed twice for almost a year each time. But I have been eliminating debt and have paid more than the minimum payment almost every time. I also discovered I was improperly included in a special levee for lakeside properties, so my taxes have actually gone down from what I was initially paying. I'm sure that will catch up, soon. I'm in a lot better shape, financially, than when I started.
Did she say a 700K plus house???? on 130K income? She has to. be nuts!!! I make just under 100K and bought a 270K house, and I cannot even fathom what her mortgage will be!! She won't be able to build an emergency fund! I hope this was a prank call!!
I calculated that it would be about half of her net income, including insurance and property taxes and that’s a 30 year loan with 10 percent down. So, she would be left with about 4K/month and zero savings or retirement.
Caller: Hello im a big fan of the show... then goes on to ask a question that any casual listener knows that dave is going to rage
The boys straight roasting this lady at the end 😂
Fr 😂
Sell the caller
I was trying to figure out how expensive this house was when she's talking about needing $100K for a 10% downpayment. I think Dave and John underestimated the house she's buying, as it sounds like a $1M home she's buying with a $130K salary. That's just plain nuts!!
I think she said it's $760K, and even if she scraped $100K to put down, she is still looking at what, at least $3200 a month (with taxes and insurance) on a 30 year fixed mortgage. They didn't even address that, she can't afford it even if she closes and does have an "emergency fund". I feel that is massive even with a $130K salary.
@@DustinRGreen-ww4og it’s plain stupid. She’s gonna lose that home if she ends up buying it
@@DustinRGreen-ww4og The question is will the house increase beyond 760k? what about remodeling the house in 20 years? maintenance costs over the years ? 20k in taxes that will increase? 130k is net or gross? what if you lose your job? the future is bleak
She is barely trying to scratching up $100K and that is only 13% downpayment. The sad thing is that she hasn't realized that she still has to pay PMI since she is under 20% downpayment. She is in for a rude awakening when she hasn't factored in any PMI, HOA dues and Property taxes payments.
I was thinking the same. Maybe not quite a million, but this house is clearly more than she needs. It’s a huge WANT.
I think she said it's $760K, and even if she scraped $100K to put down, she is still looking at what, at least $3200 a month (with taxes and insurance) on a 30 year fixed mortgage. They didn't even address that, she can't afford it even if she closes and does have an "emergency fund". I feel that is massive even with a $130K salary.
The realtor should have checked that she had the funds to close. It shows the industry is not doing their due diligence.
Yes, but you shouldn't excuse stupidity.
The thing is, for lenders, a 401k loan is totally acceptable for a down payment. They do verify that you have the funds, including whatever is in your 401k. As long as the money is there in the accounts, that is all the proof they need.
No that’s on the mortgage broker….when she applies for a loan….realtor has nothing to do down payment money ect….
A big problem I hear about often is people treating their retirement accounts as savings accounts that they can withdraw from whenever they need a big chunk of change. Unless you're in absolute dire straits (e.g. jobless, no way to pay monthly expenses, etc...) it's just never worth it. It's not necessary to cash out a retirement account for a pool or a new oversized house or a new car. Mortgaging the future to pay for non-necessities now is a recipe for impoverishment regardless of your income.
They will be living on social insecurity...
It’s better to be low on money when you’re young. Don’t blow it and end up old and broke.
Her being in Arlington Virginia explains this entire call 😩 if anybody knows anything about that part of the country it’s the DC metro area and you would be surprised how many young professionals make loads of money but are in tons of debt, and make poor choices because of course they have to keep up with the joneses.
I live in the DMV area and yes! It is all about the image here. That is why people live above their means.
Perfect example again…of realtors and lenders being shady. Yes they can “afford it” yet they know that these people really can’t afford it. I’m so thankful both of our lenders, on our first house and current house, were honest with my husband and me. They were not willing to put us in this kind of position. They flat out told us we had to have a certain amount left in the bank. And the first lender we ever went flat out refused to work with us because our budget wasn’t big enough. lol
Wish I had them LO
Its amazing how people call in and talk for so long without giving any of the needed information. Income, debts, cost of the house.
The way John reacted I don't know why I found it funny 😂😂😂😂😂😂😂😂
Lol, it would have been funnier if Dave did it. I’m still not sure if this John guy actually knows anything about money.
It sounded like Marlon Brando in Godfather "No Money'.. 😂
It's funny cause he is usually way more diplomatic than Dave, but even he is shook about the stupidity.
There is a ZERO percent chance she can afford that house if she puts it on a 15 year mortgage. She couldn’t even afford it on a 30 year actually
Imagine asking for advice and being absolutely lit up by the people you’re asking for help 😭
Use to live in VA and 130k in Arlington is nothing. Comparable to 60k other places. 700k house is insane for that income / state
Same, I was floored listening to this!
She *needs* this McMansion. All singles making $100k need one.
Maybe it’s regional but I don’t know anyone making six figures who wants a McMansion.
Truth, NoVA housing is a lot of garish McMansions, I rememeber being grossed out seeing that when Ilived there.
Insane how many people are clueless maintaining a house is expensive that’s not including property tax🙄
And a new fence, after a storm blows your fence over. And a new air conditioner. And 100 other things. I felt like my house was eating me alive. You reminded me why I like renting.
How much is a house insurance nowadays in virginia? Doesnt that cover the maintenance?
Caller: Reading the entire episodes of her life.
Ramsey: What was your question?
Bruh this☠☠☠
When they give you theirir life story like this woman did, it's because they know they can't afford it.
I think she regrets calling in.
yeah I bet you are 100% right, she regrets calling in, but doesn't regret buying that house!
I regret her calling in.
The giggling and the "shouldn't have bought this house...ok, hahaha"
Shes gonna do what she wants when she hangs up.
Waste of time.
Good for listeners I guess but it was doomed from the beginning.
This girl is NUTS! my husband and I make $170k a year and I can’t imagine buying a house that expensive. She will regret this 100%
She wants what her rich friends have
I paid off all my debt. Each paycheck, started buying stuff for my future house. Calculated how much I would need for emergency fund. Once I did all that. I looked for a foreclosure home.
And you found one, or?
🤣🤣
My goodness, she’s insufferable
"I don't wanna hear all that" ... same
Took the words right outta my mouth. lol
For someone who makes six figures, she has no common sense.
She might want to teach a class on how to swindle that salary.
$750k house on a $130k salary 😳😳😳
That’s embarrassing.
She going have a headache when the electrical and water bill comes in. I also hope she’s willing to mow and leaf rake. Hope that home doesn’t have a HOA fee or garbage fees. Things add up quickly in a home especially when your a first time owner.
@Town Crazy have fun paying 20k in taxes on a 760k home. lol
My house worth a million here in Florida. Taxes about 10k..
@@patrickchilds5486 It depends where you live. I've seen insane taxes on homes
Garbage fees? Is that a thing??
@@euenfheiejrj yes. My parents had a home in upstate NY and you had to pay to have your garbage picked up. If not you had to drive it to the dump which wasn’t close and had certain days/hrs open
How she makes the decision and how she talks to Mr. Dave makes me think she will do everything in reverse of what Dave suggests
Big difference between wants and needs. She wants a 760k house at 28 years old. She needs a much cheaper house.
It always cracks me up when these callers start off saying how they are big fans of the show or are longtime listeners. Then they go on to tell Dave every single thing they do that goes against what Dave teaches. If you've been long time listener of this show, you know exactly what Dave will say about cashing out a retirement fund and buying a house when you are broke. It's like they think he is going to change 30 years of what he has been telling people just for them. SMH
I wonder if she even continued listening after they told her she was broke. . She got destroyed!
Good lord, what a mouthful of nonsense intro...
I wish they had asked what she does for a living... who is paying 130k for this.
@@AaBbCcDdEeF , A high turnover job that everyone leaves?
@@AaBbCcDdEeF You sound extremely pressed and jealous tbh
yikes, she signs a p and s without having the down payment?!
Who buys a $760k home for their first home????
How do you make 130k a year but can’t even communicate.
👏👏😂🤣
🤭
She don't
She would be fine if she went for 300k-400k. The problem is that she is either trying to keep up with the Jones's or living in a high cost of living area.
shes also going to lose the house once maintenance needs done. Any new windows, siding, roof, air, furnace, floors will crush her.
I’m trying to figure out how she even qualified for a $700+k house with a household income of $130k 🤔
For the future cash
Dumb but that’s a very average house in Arlington
Agreed! That is insane. She’s definitely going to be paying 40%+ of her take-home pay on that mortgage
Depends on the DTI
That part!!
Why do they just let callers ramble on and on. That was a uhm painful uhm intro uhm to uhm listen to.
750k isnt bad in Virginia for a house. She still doesnt have enough money for it.
Arlington, VA is one of the most expensive areas in the entire country for housing. $750K will get any home buyer a very small, old, basic house. Most single family homes in that location are well over $1M.
She got slammed by Dave/John...whew!🤣😆🤣
Some very much need it..sorry
Guys I have a genius idea; this one is brand new.
Let's buy something with money we don't have!
Sadly $760K in Arlington, VA is most likely a condo, maybe a townhouse, not a house. She may then also have condo fees or HOAs on top of her mortgage
I was thinking the same. I love in MD closed to Arlington. It's very expensive over there.
Owning a home is a luxury. It's not for everyone.
Only in America
@@ikbenvoetbal That's actually not true; in most of Europe and most of the world the home ownership rate is considerably lower than the US
@@debunkinghistory214 although my statement "only" in america may not be 100% statistically accurate, home ownership in america is around the 60% mark. There are many countries that have ownership rates in the 70% to high 90%. I think the reason to rent in a lot of other countries is immigration and is therefore temporary, whereas here in America (although immigration plays a huge role in our stats aswell), the cost of owning a home is just not affordable and many people end up renting their entire lives.
There’s a difference between “owning a home “ and “having a mortgage “. And even when you own it you can lose it if you don’t pay property taxes. I would argue a much smaller % of folks actually own their home. And even then…
No. You just don't WANT it to be for everyone because it makes you feel superior when the gap between you and others is as wide as possible.
She is trying to impress her friends and family. And she is literally living in a nightmare. Wow! I can't believe this is even a real call. How can you be this desperate for a house?! Strange
Doing it for the likes on social media
I think Dave nailed it, I think this is for the bar scene. Would be more cost effective to lie!
Go read Dave's book. Pay off everything, then please call in. These callers that dance around the point drive me insane! She made me dizzy!! LISTEN TO DAVE YOU ARE BROKE!
She’s not broke she just has her money tied up into too many investments she just doesn’t have cold hard cash sitting around she’s not broke and she could easily afford the mortgage on the home
@@flippatheshippa I guess in her eyes? Not according to Dave! I’d listen to him and get things more organized if I were her! Dave’s plan works!
This is why 76% Americans are financially living on the edge. They're more worried about buying a house than producing income. Pretty sad. Unless you're rich, DO NOT BUY A HOUSE! Rent where you live and own what you can rent to others.
@@Originalman144 you're exactly right!
My mortgage is only 15% of my before tax income. Never been so glad in my life for my modest home.
Do you know what property taxes are in Arlington, VA? Insane! Nobody thinks about adding that in when you see your monthly house payment.
Truth!
Why would anybody regardless of income want a house that big? Keeping it clean would be a nightmare...smh
She's calling from Arlington, VA, house is probably not that big.
you’re assuming its big. depending on the location it could be only 1700 sf, but a super super prime location and has pool/spa and fresh remodeling and it could be $760k. i don’t believe they mentioned size of house-if they did my bad
It’s not that much house in Arlington VA at the 760k price.
A big house in that area can easily cost 1.6 million to two million dollars.
I think the house she bought is not to big .
People buy homes they can’t afford buy a small house pay it off stay in it for 20 years than get a bigger house if you have the cash to buy it
One of the most annoying callers
This is the funniest episode yet. You're broke!! 😂😂😭😭
Depending on how she signed the offer, she might still be able to back out of it with "I couldn't get financing"... The real take home lesson is just because you can "get" a 760k mortgage doesn't mean you should...though it's natural to max stuff out, don't do it on your mortgage...
Also can back out with HOA docs
Wow, on 130k a year, I would have bought a 150k house. I cannot believe she wants to purchase a 750k house...
I’m not even on the call and it’s driving me nuts. 😂
My income is $138k and my bf’s is about $89k and we just bought a house for $220k, wouldn’t have even considered buying anything over $230k and we’re in better financial positions than this girl! That house is so clearly outside her means
I Um.. uh I uh um..... this was so obnoxious