Should You Buy a House?

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Jesus Christ : Don't build thy house upon the sand, build thy house upon the rock of good credit, solid income, and 20% down payment. 😇

Mr. Beat : Simply put, less people own homes today because less people have enough money to own homes.

Tampatec : Value of houses are overvalued vs average wages and property taxes are high.

Kristian DC. : "It's called The American Dream for a reason, you have to be asleep to believe it."

Quick Fix - Thought Provoking Videos : I feel our generation will retire in developing countries since that's the only thing we will be able to afford.

Owen Jauregui : Omg, I swear when I subscribed about a week ago, you guys had 30k subs, now you guys almost have 90k. At this rate you guys will reach 1 million suns in no time at all.

Shrinidhi Ghatpande : If you believe in the invisible hand of market, then you should accept the refusal of millennials to home purchase as nothing but rational.

Nehal kumar : He looks like "Little finger" from GOT !!...

Samuel.S : I’m fine living in my parents basement playing monopoly for millennials

This is Barris! - French History : Well, this is painting a jolly picture for us millennials.

LordSlag : ...also, wages have been flat for 45 years and everything has gotten more expensive.

Zel's 4K Emulators and Archive : I'm going to buy a van with solar panels on it. Nu Murrican Dream.

Joshua Castillo : Gosh you two are good life coaches.

Alex Shuysky : I think the problem is that back then, when you bought a house, you get a brand new house with modern appliances and amenities, and sometimes you can decide the style you wanted. Nowadays when you buy a house, it's a relic to the past where you have to do work to make it livable up to today's standard, rework the wiring, reapply insulations, replacing old rusty pipes, and you have to pay a lot more to even get a new decent house, that's the thing baby boomer didn't put in perspective when they blame millenials for not buying their crappy outdated houses.

Sharoseto Fitness : Nah, investing in a house is definitely not worth it as a millennial. It is also not guaranteed that the value of the house will go up. Here in Greece after the crisis properties dropped hard. We live in the era of Internet. Building an online business / brand and getting your name out there is the easiest thing in the world right now. I say invest in that over anything else.

goldfishcrayon : Didn't get the best loan terms (only had 3.5% down, 30 years) but we got a comfortable 3 bedroom house in the Midwest for $750 a month with the mortgage insurance. Rented a 2 bed duplex in same area for the same price. So the investment is still worth it from a quality of life standpoint... If you can afford to rent you can afford to buy as long as you have the savings for emergencies and home improvement costs. We also got a great deal on the house and planned on moving in 3 years so even though it's less than 5 the housing economy is in our favor right now.

pommeG03 : Great video! I also think that the location someone lives in plays a huge roll. My BF and I got a beautiful 3 bedroom for $230k in a more rural area, and we have almost no yearly maintenance fees, other than upgrades that improve the value of the home, since we were diligent about the inspections. Our combined mortgage, taxes, and insurance are equal to the rent most people around here pay for a 2 bedroom apartment. However, my friends who live in the city downstate are paying 3-4x my mortgage for rent alone, and owning property is a pipe dream for them. I honestly think millennials should be getting the hell out of cities and moving to more rural areas where their skills and influence are needed!

Michael Gainey : 0:25 "Actual home ownership has dropped to its lowest level since 1967." I don't know how much of this is made up for in population growth, but this suggests that demand is falling. If demand is falling, why aren't home prices falling too?

nplowman1 : Is the 20% down payment still a realistic goal for a first time home buyer? For a 200k house that would be $40,000, which is absolutely insane.

MrRzguitario : Wow, this is probably my favorite PBS YouTube series so far. Hilarious and educational at the same time!

Vahid Saberin : My dad had that exact same moustache in the 80s.

murcielago Batman : This video should be show to high school student

Ashwin S : You both look beautiful together🤩

Peter B. : In the old days people bought starter homes and paid them off quickly then bought larger homes when they got married and started a family. This avoided a lot of unnecessary interest payments. Buy a used car. Forget the gym membership, buy a bicycle and ride it instead of driving when you can.

BikeNinja98 : Excellent video! There’s a politically wide range of economists such as Robert Reich and Richard Wolff who argue we need to pay the working class more (or at least the amount we used to) instead of giving them more credit which reduces our net value in the long run. The minimum wage used to have an upwards trajectory in real value; now, whenever it’s raised, it’s actually raised to a value LESS than the previous value after inflation. In other words, the worth of our minimum wage peaked sometime between the late 1960’s and early 1970’s. Raising the minimum wage is just one way in which we can improve the standard of living in the United States. In addition, more people will have the power to buy more necessary goods and services, which means a growing economy. Spokespeople for powerful monopolies (and those that they have convinced) argue that growing our minimum wage (or even returning our minimum wage to its previous value) will raise interest rates and slow down the economy, but they leave out a couple of crucial facts. For example, our economy is already inflating regardless of whether or not we pay people fairly, and poor people are going to see more upwards growth with that raise than the CEOs that already make dozens of millions of dollars a year each. In other words, companies might raise their prices when wages increase, but that isn’t a sufficient reason to pay people less as products continue to become more expensive. Our wages should rise WITH the increasing price of goods, not stay the same so that we aren’t as able to buy as much next year, all while the profit of those differences go to the CEO and shareholders. This is not a terribly controversial idea between labor economists who have studied the numbers. It becomes a controversial idea when profiteers feel threatened (as the public becomes more aware of the issue), and as a result, those profiteers create a PR campaign to confuse the issue.

Shahrooz Shadbakht : Love your videos. Each one is so helpful! Some of us dream about buying an acreage out in a small town somewhere to live self sufficiencly and semi off-grid, maybe even a permaculture. Can you do a video on that please? Could one quit the 9-5’s and retire early?

SJ PATIL : Buy a house & give it for rent

Reiden Lightman : It's important to remember that treating a house like an investment means you expect some sort of gain from it later. If you plan to gain money from your home, that means you plan to sell eventually, so maybe don't buy a home you'll be too attached to. Also, if you plan to move in 5 years, but your mortgage is for 15+ years, then you're essentially renting instead of buying. You don't truly own your home until you've paid it off. Otherwise, the bank will come and run you out. I used to live in a house, but the interest rate was jacked up so high my mom couldn't pay the mortgage. Out we all went. If you plan to stay at a house forever and pass it on to your kids in your will, then treating it like an investment you plan to make money on isn't very wise at all.

elifeleth : Getting from South America, I love your channel!! Great videos about being smart financially

John đrew : My two Cents is if you're a prideful person and you see a potential dream home you go for it! IMO buying a home is always better than renting especially the cost of rent now and days is just as much if not more than a house mortgage.

Not That Guy : I had this same question and put it off for far longer than I wish I had. It's cheaper than renting, and you are building equity as long as you don't use your house as a bank account. I'll have one of my main retirement assets when it comes time to do that, and I won't be throwing away money on rent for the rest of my life with nothing to show for it. It is smart to consider that you shouldn't be like most Americans and not be able to afford a $400 emergency, which is just playing with fire whether you own a home or not.

George Ramirez : I disagree. A house is not an investment. It's a liability.

Adhi Suryana : Millennials don't have home because they're too busy financing their $1,000 phone and other useless gadgets that they own 😂😂

Gregory Everson : Two Cents this is all wrong, you made everything to broad, you buy a home when you are ready to settle down, also the leaky roof vs no AC, the roof is a must fix, the AC isnt (just get a fan), why would Ramone buy a house if his GF might move to NY after college, i would like a response please

perryizgr8 : Importance of travel seems to be unrelated to the increase in the pressure to travel for better opportunities.

David Deering : This whole video is based on buying a mansion in most of the country. I can buy a pretty decent starter home in my city for less than the price of a new car. I'd have to build a fully custom new house on several acres just to reach the luxury car price levels. There's a huge disconnect between reality and the nonsensical expectations young people were raised to live with.

Nick Shvelidze : Geographic flexibility is very important.

Equix : What age group is this show aimed at? The topic feels like 16+ but the presentation feels dumbed down. As an universety student I like the show, but I feel like I am watching something for kids/teens, not young adults.

The Smartest Guy In The Room : The real estate home prices are a run away train, with everyone being greedy to get the most out of their house, with people making less money, interest rate on the raise and inflation..... I would suggest stay far away from purchasing a house let the market implode on itself we are already in a second bubble

stop asking me to change my name! : 2:10 Traveling is a huuuuuge waste of money. I know people that rent and go on vacations 2 or 3 times a year to Mexico. They also spend $10 a day on Starbucks coffee. Then they complain that it is too expensive to buy a home.

BinaryOrbitals : How are you gaining subs this fast? Edit: HOW ARE YOU BEING SPONSORED AFTER 10 VIDEOS?!?

Calbel : Such good videos! Such a good channel especially for younger people

rubiks15 : The problem with videos that focus on Millennials is they always assume we're broke or have a massive amount of college debt. I have no college debt and have crafted 6 streams of income. They're not massive streams, but together, they make more than my accounting job. I was smart when I bought a home, I didn't just look for a price that I could afford the payments and a house that was "my style". I got an FHA loan, paid more on the monthly payment than what was required and paid off the $81k home in 1 year. I sunk nearly all my money into paying it off as quickly as possible by living like a college student, no eating out, no furniture (except bed, tables and chairs), and doing DIY repairs as they came up. Hello, future rental property. Step out of your comfort zone.

Brian Hom : i look at the numbers they used and then i look at the San Francisco real estate market....

Stunna R : Young people are setting in there parents basement waiting on there parents to die so the can get the house

Igor Bagayev : But you're not counting how much Ramon would pay for renting the appartments

Pedro Amaya : I don't think I can ever buy a house. Houses in Los Angeles cost, on average, $800,000. A decent house usually sells for over 1 million dollars...

Raman Dhungel : I was awaiting your video..

eagle gamer : A cardboard box is way better

Joe King : That's not it. It's not about Millennials. It's about interest. Why should I buy a home for $100,000 at an interest rate that's going to force me to pay them $250,000 by the time it's paid off. Why should my mortgage statement say that I'm paying $500 a month in interest and only $100 a month towards principal until after I reach your 13? Why are we allowing Banks to Rob us the way they do. We purchased our own home it cost us $70,000 3 bedroom 2 bathroom mobile home on 7 Acres. I've had many people tell me that buying a mobile home was a bad decision, however I purchased my mobile home and land for what most people spend on a luxury vehicle. Our home and land will be paid off and a couple more years and that is by Design and choice. I think you have to weigh the options. We were paying $1,000 a month to live in someone else's home who at any time could tell us we needed to leave within 90 days. Though we are responsible for all of the repairs and upkeep in the home we have now, it is worth it for us to live in a mobile home allowing our children to do any damage they're going to do and allowing us to own our own roof and ground at a substantial discount compared to renting monthly for 10 years. We pay our mortgage for 7 with an additional $300 a month and it is paid off for $70,000 instead of $100,000 over 10 years renting someone else's home and having nothing to show for it. It comes down to choice. If you rent a home you sure can't put down fruit trees the way we have here. 40 and Counting