I Feel Like Renting is Wasting Money

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Information I Feel Like Renting is Wasting Money

Title	:	I Feel Like Renting is Wasting Money
Lasting	:	7.23
Date of publication	:
Views	:	875 rb

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Comment from : The Ramsey Show Highlights

Don’t hold your breath on the government coming in on a white horse to save you You will die
Comment from : Truth finder

When you buy a house in the US the house and government will own you Freedom is my home
Comment from : CHIRANTHA

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

There income is really really good especially for there age $10,500 a month take home
Comment from : Mark Carlson

"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

"Student loans won't be forgiven" This aged really well Biden fooled everyone for votes
Comment from : John Paul Thomas

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

Nobody wants to rent!!!!!brNobody is building Affordable housing for the middle class or the poor!!!!!!brIt's GREED!!!!!!! Errrrrrrrrrr
Comment from : Lip stick

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

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

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

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

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

You could be wrong
Comment from : Steve Starr

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

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

I needed to hear this Thanks, Dave!
Comment from : Riel

This did not age well lol
Comment from : Jon Burton

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

"I'd rather move from an apartment to a house than a house to an apartment," -- Best aunt quote ever
Comment from : Anthony Copter

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

So out of touch with reality again 2k a month rent in dc is very very reasonable
Comment from : Long Nguyen

when you rent, you pay for what you use and you are not tied to anything
Comment from : Mr Crowley

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

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

Young black man like hard to find in USA
Comment from : NOSTER pierre

This duo is like fire and ice It’s pretty dope
Comment from : AND THEN WE STOPPED IN COLORADO

Dave must think this is 1980 2000 a month is a steal in arlington
Comment from : Pimp named slickback

She rolled her eyes hung up the phone and said “what does he know!”
Comment from : Z •

Can you find a rental in that area for under $2000?
Comment from : Ed Stoner

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

I think about renting as buying a bigger down payment
Comment from : ripsirwin1

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

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

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

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

Did you ask what kind of vehicles they drove
Comment from : John Mitchell

RICE&BEANS and Condoms plenty of Condoms
Comment from : John Mitchell

margarita i bet she's a lot of fun
Comment from : John Mitchell

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

I like this Co Host Really soft Spoken and easy to listen to!
Comment from : ROIDO

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

2k a month isn't that expensive for their income imo
Comment from : Bwuk

If it wasn't for women men would live in a cardboard box But women caint going for that
Comment from : Greer

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

I don't get why Dave is against VA loans you served in the military you deserve that loan
Comment from : Cliff Reeser

Where do these incomes come from? Seriously? You make 130k a year and biтch about 2k rent a month? Pathetic
Comment from : Speak Up

How can I submit a question?
Comment from : Queen of Divas

Not sure I agree - it is a waste Properties are only going up
Comment from : JOEY MATHEW

Dave is the best host Second would be George
Comment from : MrKeysProductions

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

"when your broke friends are making fun of you" Fuego, Dave
Comment from : Javi 1

“You rented too expensive! $2000 a month! You got a nice place!” Yeah
Comment from : Robert Rostad

Could I afford a mortgage being single making 34k net a year?
Comment from : Victor Yang

People tend to forget that you must rent your property from the county for as long as you own it
Comment from : Bill Suraci

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

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

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

The other video he’s saying to rent ! Think for your self please
Comment from : D show

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

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

Wish I made that much I only make 50k and I’m 30 years old Nice job!
Comment from : XRay Pluto

paying back a 0 loan is dumb full stop
Comment from : James Dixon

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

Renting is wasting money Live in a van until you can afford to buy
Comment from : Christine Butler

Look at the black dudes face at 1:19 trying so hard to mimic Daves movements
Comment from : Deepinurmom

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

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

I like how he thinks Dave knows more about when he bought his house than he does
Comment from : mescetacy

I actually know two different teachers who had their student loans forgiven, one for 45k
Comment from : CA Bayern

their rent is like 1/5th of their take home pay that’s probably not the issue
Comment from : Jimmy Butler Enjoyer

Yolo 😂😆
Comment from : yuri reyes

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

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

Ummm…I live in the DC area and $2000 a month in Arlington is very low lol
Comment from : mazdaohio

You are correct, DaveAGAIN!
Comment from : Paul Kelzer

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

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

2k a month is not enough to rent around the DC area unless you move to the projects
Comment from : TheBurgold

Renting here in Canada is a total waste of money!
Comment from : Dupe

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

Owning a home you can afford is much better than renting!
Comment from : Mrs M Hudson

All of this is great advice if you do not live in an area of high demand
Comment from : Malcolm N

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

Renting is better Less over head cost and not stuck anywhere
Comment from : joel diaz

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

i love hearing them hate what youre saying cause your right and they dont like that
Comment from : luke horten

When my heating went out in the dead of winter Thank God I was renting
Comment from : A DOE

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

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