I'd say stay in your home. I know people who sold their home for a crazy amount and can't find a nice home to buy now! They basically traded in their remodeled home, to only find overpriced and outdated homes in their price range!

@kbanghart

2 жыл бұрын

Yeah and it depends on what you mean by a nice home

@capt.swarvaski1545

Жыл бұрын

That’s what happened to me. Sold my beautiful home @ a high price- figured I’d wait it off and buy when it all comes down, but I’m hugely regretting it now. 😭😭😭

The supply of houses may stay low, but as inflation rages, the supply of buyers decreases.

Let's listen to this again in a year.

@bettysmith4527

2 жыл бұрын

Yup, the interest rates have climbed and prices are already taking a dump (2007).... I already see plenty of listings where it's obvious the people or person who bought it bit off ore than they could chew, and they are selling a year or so after their purchase, and prices going down means they soon won't be able to even break even getting out, and we all know what's coming next (2008)!

@kbanghart

2 жыл бұрын

@@bettysmith4527 please, show me where prices are taking a dump.

@ALANAYARSA

2 жыл бұрын

I just added to my calendar... hahaha... we will see in 2023

@JustinCase780

2 жыл бұрын

@@kbanghart Not sure about "prices" doing so but a lot of dogs in my neighborhood are experts at it.

@JustinCase780

2 жыл бұрын

@@ALANAYARSA That will be interesting to compare! 👍

Sell it now at over expected value you are more free to move immediately and don't have to wait for it to sell later

@kbanghart

2 жыл бұрын

But move where?

Yes sell sell sell! We need to start the panic crash so my family can afford to buy 😜

@matthewtheexposure5841

2 жыл бұрын

😂😂😂😂😂😂😂😂😂

@Azel247

2 жыл бұрын

Prices go down but interest rates go up, I still can't afford it!

@Howdy762

2 жыл бұрын

lol

@Andrew-ro6cr

2 жыл бұрын

No. Should have got in years ago

@TheMechanicj

2 жыл бұрын

The interest rates jsut made it stupid yo buy a house

Prices are already dropping.

@monster-pq7ln

2 жыл бұрын

No they aren't.

@Tinkerbella45

Жыл бұрын

Not in St louis MO county 😮

If I sell it doesn't change the fact that I still need a house. I'm gonna stay put and pay off my house.

@jimroscovius

2 жыл бұрын

Good plan!!

@jimroscovius

2 жыл бұрын

@@MOGM777 There will always be houses. Why buy if you don't need to and can't afford it??

@Frankitosway

2 жыл бұрын

@@MOGM777 problem is you cant expect to BUY LOW nowadays. We need to move but selling the house now, we obv need to buy another one to move in.

Glad Dave has a crystal ball. This depends on where she lives. You can’t just generalize. Real estate is local so it depends on where she lives.

@DonesdeMotivacion

2 жыл бұрын

She lives in Orlando FL. You don’t sell in Orlando FL, lot of immigration and snow birds there

@anthonywebster8638

2 жыл бұрын

Prices may only be declining in Commiefornia and Taxachusetts as people continue to leave them.

@OTOWN2STOCKTOWN

2 жыл бұрын

Thx!

Ramsey is ignoring the fact that In his lifetime he never had a pandemic that caused the low inventory and high lumber prices that made homes spike a crazy amount in one year.

I doubt that home prices are not going to dip. We just had people overpaying for homes two years ago. Every built home has inflated glue priced in, eventually those payments are going to bite and folks will sell at losses just to get out

@sparkylarry9999

2 жыл бұрын

“Just to get out” but go where? I you can afford the payment on the mortgage, just keep living in the house.

@kisikatube

2 жыл бұрын

Sellers would not go down and instead choose to rent out their houses, Buyer cant buy houses so they will choose to rent as well and that is what going to happen. Nobody is going to sell their houses 20% down unless there are some exceptional circumstances and they are in urgent need of money

@kbanghart

2 жыл бұрын

@@sparkylarry9999 exactly

@jdtreharne

2 жыл бұрын

Yup. If you can build a new house for 200, nobody's going to buy your used house for 250.

People act as if stagnation doesn't exist. They think just because home prices won't continue going up that they have to "crash" lol

@JB-ri6zp

2 жыл бұрын

Well usually when something goes straight up it goes down

@grod805

2 жыл бұрын

House prices don't historically just settle down. In a month I've seen like double the amount o lf homes for sale in my city

@kbanghart

2 жыл бұрын

@@JB-ri6zp show us how many times in history where real estate values have gone way up, and then way down.

@JB-ri6zp

2 жыл бұрын

@@kbanghart Just once due to Wall Street. Wall street is back again. Homes were stable for decades because they were mostly family owned, now they are investor owned and speculative. Grab some popcorn my friend.

@Buttlather

2 жыл бұрын

@@kbanghart show me when housing values have shot up like a parabola in the past

Right now we are in a bigger crisis than 2008, never say never.

@anthonywebster8638

2 жыл бұрын

2008 was due to different underwriting guidelines. Today's guidelines are very strict. Everyone is expecting a "crash", and that means that a crash is most likely not going to happen.

@garret930

2 жыл бұрын

2008 was a financial fraud issue, not a supply/demand issue. Our current supply/demand/inflation issue is not in the same ballpark as 2008.

@eshoo8000

2 жыл бұрын

@@garret930 what happened to those houses owned by corona victims ?

Rent on a short term lease (especially a house) is usually stupid high as well as the fees and the cost and time of moving

A home you live in is not an investment to me. That's a necessity of life. Everyone needs a place to sleep at night.

@kailit9984

2 жыл бұрын

Exactly, would you sell your dinner and make a profit and not eat

If we have a severe recession they might.

What about all of these new developments that sprung up EVERYWHERE during the pandemic? There are tons of cities throughout the US that have built new homes and are asking crazy prices (they start at $800K in my town). With the rise of interest rates, tons of buyers can no longer afford the high pricetag of said developments and therefore you will have a surplus of supplies of high end homes which will eventually have to adjust their prices which will also impact the price of lower end homes.

@RickM23

2 жыл бұрын

I guess it will depend on location. For real estate it’s always about location. Might need to see a builder over leverage themselves and collapse. Will it happen? No one knows. These are supposed to be smart people. But who knows?

@matthewtheexposure5841

2 жыл бұрын

Or….the real estate companies will rent them out. They have been doing so all across the country. Buying up homes just to RENT them out not to sell them. It’s terrible 😞

@jimroscovius

2 жыл бұрын

I wouldn't buy there for sure. Most homes here are about $200k+, although you can find homes for under $200k.

He admits prices could go down in a given neighborhood. Of course! So better to do your homework.

Don’t let fear be your motivation .

@TheMallen07

2 жыл бұрын

Very wise words!

@alexpeters7159

2 жыл бұрын

exactly

I bought a house a few months ago. Although my house got appraised for 15k more than what I bought it, this topic still gives me anxiety.

The thing dave left out in the supply and demand curve is lending. Nasdaq is down 30% and no one is talking about it. If the backs holt lending buying dries up over night.

@superblump87

2 жыл бұрын

Why would they halt lending? That's how they make money.

@ILmachiner

2 жыл бұрын

@@superblump87 incorrect. They make money on intrest payments. When everyone is in default they lose money.

@kbanghart

2 жыл бұрын

@@ILmachiner not fully correct. They have to lend first, to make interest.

if you know you are going to move in 12 months... there is nothing to hang on to. rip the bandaid and go. move on. rent as long as you need. renting is almost always cheaper on the balance sheet month to month, saving you more. you should at least MLS it today to see if you really get interest or buyers. it also gives you a year to evaluate all the stuff you have. what is peace of mind worth? you said you would be set! expect the houses to go up. that way anything is a win in your mind.

I am glad Dave knows real estate is not likely to crash but at the same time if prices are going to stay high he needs to adjust his mortgage advice so people can actually buy a house in a reasonable amount of time

@Rachel-zc8ur

2 жыл бұрын

He doesn't say you have to have 20% if it's your first home. Mentioning that because I learned that recently.

@abrahamflores2566

2 жыл бұрын

@@Rachel-zc8ur I know he says you can buy a house with 10% down, it's his 15 year mortgage at 25% of take home pay that's the issue. On average it would take someone making $100k a year to have a downpayment of $100k plus in most cities. Most people would need to save money for a decade to put as downpayment

@jimroscovius

2 жыл бұрын

@@abrahamflores2566 What? Why would you put $100k down?? Hopefully that's not 10% or 20%. If it is you'd better move somewhere else.

@abrahamflores2566

2 жыл бұрын

@@jimroscovius plug in the scenario. $100k income after taxes is $82k/ year. So at 25% of take home pay your max payment is capped at $1700. Your max loan amount would be around $170k. So if houses in your area go for $300k you need $130k down payment. Now what if you make $90k a year and houses in your area go for $350k on a starter home? 90% of the population would take a decade to save enough money to buy a terrible cheap home

@Rachel-zc8ur

2 жыл бұрын

@@abrahamflores2566 oh yeah I didn't think of that. I'm outrageously blessed to be higher income with LCOL. I can't imagine being in a HCOL area < 6 figures. I wonder if there's going to be a shift and people are going to start to spread out more. If city prices aren't going to go down, people need to move. Is this an insensitive statement? My family always moved to where the jobs and affordability was. It did mean we didn't grow up near grand parents, but I don't know how else they would have made it.

FFS Dave. Are you serious? These houses are dropping in price all the time now. I've seen DOZENS of houses around the 350k range and they all already dropped the asking price by 25-50k each in several states. Crazy talk, man. Crazy talk.

@thedestinationstation

2 жыл бұрын

Thats bcuz of the Interest rates going up the sellers only option is to drop the prices on their homes. But the overall value of your home should remain around the same price as it is today. A lot of buyers are starting to not qualify for a home loan bcuz of the interest rates going up, thats why the sellers are dropping prices at this time

@thejakelegion

2 жыл бұрын

@@thedestinationstation right. But if I buy a house for 275k that was 350k, even at higher interest, that's a lot of money saved for me. Especially as I plan to make double payments until it's paid off. So that's a house... Going down in price.

@Nolaman70

2 жыл бұрын

Yeah house prices are inflated, I see a lot of reductions, probably to where they should have been in the first place.

@DrSchor

2 жыл бұрын

@@thejakelegion key word: if

@jimroscovius

2 жыл бұрын

@@thejakelegion No, the house didn't go down in value. The seller just decided to take less. Big difference.

where are you going to live if you sell is the question all must ask who have these thoughts. with rents being high and hard to find it is not the simple solution it usually would be.

@blackworldtraveler3711

2 жыл бұрын

That's why most I know are staying put and not selling. Makes no sense to disrupt your life and family with so much going on in the world currently.

Real estate goes up and down but almost never ever goes down more than it goes up. Add to that metrics now show no sign of housing prices falling

No one ever brings up transaction costs, moving costs, storage costs and stress. They add up when you move several times.

Why isn’t Dave talking about a correction? Are you telling me that these houses that are overpriced by 50k are going to stay that high? I’m having trouble undertaking Dave on this one.

@KeatonDee

2 жыл бұрын

Overpriced by 50k? Where is this? Here in Vancouver they’re about 500k overpriced.

@OPP534

2 жыл бұрын

@@KeatonDee from 50-100 in the DFW, Texas

@janto2787

2 жыл бұрын

@@KeatonDee Florida also

@Bone89

Жыл бұрын

I’m curious how u think they will go down.

There not going down but houses aren’t flying off the shelves anymore. 😂🤣

@stevenporter863

2 жыл бұрын

People don't listen before they ask Dave a question. 🤦 Dave must have said 100 times real estate prices will not go down, just increase at a slower rate.

@charlesjackson1700

2 жыл бұрын

They are where I live !! And climbing.🤑

@theflightsimulationexperie6894

2 жыл бұрын

Yup. Already in my city (Charleston South Carolina), we are seeing price cuts and the idea of buyers offering 20,30 or 80k over asking….not happening anymore.

@Bone89

Жыл бұрын

Dave was right.

BlackRock and Blackstone are loving this lol

We just sold our rental house two months ago after the tenants broke the lease, best move we’ve made in years!

@WoodUCreate

2 жыл бұрын

That's why you don't rent SFH, only multi units. SFH has all your income tied up in one tenant.

@Cravz69

2 жыл бұрын

@@WoodUCreate Actually it was profitable and did us well, we were just tired of being landlords for so long, plus the house is right next-door.

Unless you plan on moving into an apartment from the house you own, there's no point in worrying about home values as a whole because the next home will most likely go down in value just as much. The only caveat to this would if the home value goes underwater, at which point you won't be able to sell it. But inflation can work to your advantage there.

@Howdy762

2 жыл бұрын

yes but the calculation depends on if the cost of renting is less than the "possible devaluation" of the Home. Also the convenience factor is there to consider.

@paulstandaert5709

2 жыл бұрын

I find it somewhat disturbing how much people will spend for the convenience factor. It is a major contributor to becoming the "overspent" American. The demise of the manual transmission is a perfect example

Even though his forecast was off here (many homes have gone down in value since this posted, including mine), he still gave good advice. The stress/financial risk of selling before she knows where she’s going to would be much higher than a possible minuscule dip.

Even if it did go down some, having to move twice makes it more of a PITA than it's worth. Besides, she's in Orlando. Unless that lunatic governor drives Disney away, she should be fine.

If you own a house and move to another house whether it goes up or down, the other house does the same thing

What happened to the idea that real estate is cyclical and eventually comes down? I thought this was a well known fact? I don't see wages supporting these outrageous prices, plus interest rates rising and all of the new builds during the pandemic impact supply. It seems like a perfect storm for a drop.

@adamseidel9780

2 жыл бұрын

Narrator: It was not a well known fact.

@d_all_in

2 жыл бұрын

Real estate isn't cyclical though

@constantin58

2 жыл бұрын

It's a bubble

@superblump87

2 жыл бұрын

When has real estate gone down and not gone back up?

@kisikatube

2 жыл бұрын

Sellers would not go down and instead choose to rent out their houses, Buyer cant buy houses so they will choose to rent as well and that is what going to happen. Nobody is going to sell their houses 20% down unless there are some exceptional circumstances and they are in urgent need of money

Inventory is going up lol

I don't understand why people treat their houses like investments and not frigging houses. I don't care if the value was $0, its a place to live and put your head down. TREAT IT LIKE YOUR HOME, NOT A STOCK. Maybe if people did that housing prices wouldn't be so ludicrous.

@kailit9984

2 жыл бұрын

Amen!

@Bone89

Жыл бұрын

U actually have it backwards. Most people don’t look at it as investment. It’s about area, impressing friends, schools. I look strictly as investment. Cuz I’m smart. Actually cuz I’m single. I’m dumb actually

Papa Dave is right!!!

How do the prices continue to go up when nobody works?

This is exactly my question

😂 this advice.

will see how it ages

@davidmason777

2 жыл бұрын

You have thin triceps do skull crushers it will help with the thickness

Mark Dave’s word, he is wrong...they will go down in the next 12 months. I already see price cuts of 10k 20k 30k

HOPE ALL IS BLESSED! AND GET THE FINANCIAL FREEDOM YOU DESERVE!! IN ORDER TO SPEND MORE TIME WITH YOUR LOVED ONES!! AMEN🙏🙏🏻🙏🏼🙏🏽🙏🏾🙏🏿

Something big is coming….just watch and see.

Not sure about your advice here, Dave. I’m in Ontario, Canada and prices are definitely coming down already.

@ElonMuskZonefx

2 жыл бұрын

Let's talk

I’d say sell while there are plenty of buyers. I’m a year, it might be harder to find buyers and make as much of a profit.

House business is good. So, you can earn more money and also may buy new, deluxe house. What do you think this opinion is right?

I love Dave Ramsey and he gives great advice but this might not age well.

@Andrew-ro6cr

2 жыл бұрын

This is a total guess and the woman asking the question should not ask such questions. No one knows.

@Buttlather

2 жыл бұрын

@@Andrew-ro6cr he could have said that. Instead he says no, it will definitely not go down in the next year. That's a bold statement.

@bmcdonald7303

Жыл бұрын

It’s July 2023. It has not gone down here in Alabama.

BS it’s never been this high ever. She should sell

How many pandemics has Dave experienced? He said in his life time real estate has only came down once and that was 2008. We also had one pandemic in our lifetime and that was 2020.

@yuecherry

2 жыл бұрын

Exactly

At best we might get a level out / plateau in home prices… hopefully it can go down a bit though!! 🤞

I guess i live in Vegas and the price has exploded too much to sustain . So I’m more biased than some random middle America places

Be4lieving that the prices will not go down is a leap of faith that I won't take.

Boy was he wrong.

Unless your downsizing it doesn't make sense to sell at the peak.

This didn’t age well

Dave is the only one rightnow saying buy buy buy.

“More difficult to sell” aka price reductions ?

Supply & Demand

Interest rates are double what they were in November

Some people should sell.

You’re wrong, Dave.

I love Dave but he does not have all the correct answers all the time...

It’s already slowing buyers are gone .I believe a year from now the house they own will be 30 percent less .

The quick rise in interest rates only made matters worse.

Houses never decrease

We’re all experts huh

Some places the prices are coming down. I still wouldn't sell if you are just going to move soon.

rates are going up on loans, buying will go down

@blackworldtraveler3711

2 жыл бұрын

And no point in selling.

Home prices are gonna drop substantially in the next couple years it’s already started baby…👍👍

Dave really should not give this advice. Data is confirming that this will crash or at very least have very large correction. Keep in mind Dave also said this EXACT same thing I’m 2007…

@kingambler8950

2 жыл бұрын

prices went right back up, your point? only people who got curshed in 2008 were the ones who sold

@mccdrew7012

2 жыл бұрын

@@kingambler8950 crashes are temporary, it doesn’t mean they don’t happen… What’s your point?

@mccdrew7012

2 жыл бұрын

@@kingambler8950 also, trying to defend convincing people it’s ok to buy at the peak of the largest RE bubble in history is moronic.

BS !!! EVEN if it is 10% reduction with a 300K house ... it is WORTH IT

Listen babies You do not sell real estate you’re holding in Orlando FL, period A lot of people from upstates are moving because of the weather, a lot of immigrants from Latin America are moving because of the latino friendly environment and a lot of people from all over the world are moving for their prime theme parks and entertainment. No, you can sell in many neighborhoods but don’t expect for Orlando FL to fall so easily

Sell? What if you can’t buy another place and have to deal with a landlord that may try to clean you out.

@DrSchor

2 жыл бұрын

i conclude you are not a landlord

Dave just buy more stocks

Dave acting like meteorologist and saying he is off the hook for this comment shows just how much faith he has in what he is saying...

Sage wisdom from Dave. Love it.

“Name a product that increases in value with age AND use.” KS

@austinduke8876

2 жыл бұрын

land

@Jajaky

2 жыл бұрын

RIP

@1timothydillon

2 жыл бұрын

Though I don't drink, I know it's certain types of alcohol.

@untouchable360x

2 жыл бұрын

@@austinduke8876 Land is property. Not a product.

@untouchable360x

2 жыл бұрын

@@1timothydillon opened bottle is worth more than unopened?

The house appreciated in 12 months. Why can’t it dip?

Sell High Buy Higher

Dave lives in Brentwood TN. $$$$$$$$$$$$$$$$$$$$

Too late. You missed it.

I would say sell now

if dave was in my country he be -26% correct.

Can the average person own a home 🏡!! Nope

@adamseidel9780

2 жыл бұрын

Well 2/3 of Americans do own a home… so… wrong.

@DrSchor

2 жыл бұрын

@@adamseidel9780 hello roo. help me understand. since 65% of americans own their home, why do you say an average person cannot? thanks for sharing your very interesting thoughts my friend.

@roolyfe

2 жыл бұрын

@@DrSchor hello. thanks 😊 again for being candid. From my experience I don’t feel I will ever own a home 🏡. Very little opportunity to move up in America 🇺🇸

If you don't want multiple cash offers for above asking price then definitely wait. If you want a extra 30k in your pocket then don't...

I disagree she should sell now

At most a small dip could occur but I doubt it that quickly. And I don't see the factors for a crash, like 08.

Love your channel.

Is it me or is this lady lacking important input? And seems nervous, bless her heart

For God's sake callers. Stop asking these stupid questions!!

So you're betting that house prices will fall by more than a year's rent plus moving costs? Sounds like a bad bet.

There is no rational reason home prices could keep going up. Prices must match income. Ramsey seems out of touch

@raallen1468

2 жыл бұрын

Dave is in a much higher income bracket than 95% of his callers.

@aolvaar8792

2 жыл бұрын

Prices must match income.????? I'm retired, buying with Cash. Income???

I will miss Dave Ramsey when he is gone.

Women can't handle volatility,

Dave needs to study the Bible

@Christfollower89

2 жыл бұрын

Dave doesn't follow prophecy, it's no use talking about it. He tells Glenn Beck he's crazy too. Too bad for Dave, but at least he is a Christian.

Dave is such a lemming...

Who’s the grifting chick here?

I hope Dave is right 🤔

@clownworld7763

2 жыл бұрын

He's not. Remember the advice is worth as much as you paid for it. Talk to a local real estate agent and ask how their listings are going.

@trucker2323

2 жыл бұрын

@@clownworld7763 I’m real estate agent myself. I’m selling everything lol

@skinnerbox4639

2 жыл бұрын

@@trucker2323 No you're not.