It’s too tight! When I was living in California, I wasn’t even thinking of buying anything above the $273k and making 100k. I bought a condo for 273k with a 73k down payment. Yet, I still thought it was too tight with a 4% interest rate in 2018. I was tackling that mortgage the first couple years until I was qualified for a free refinance at a new rate 2.5%. Idk why people wanna be house poor? Family was thinking we were making 30k a year because I bought a condo for 273k. 😂the bank said I qualified for a 500k home, they’re out of their mind! You want to invest your money in the stock market also, not just throw everything in a home. What happens if one loses a job? What about traveling and kids?
Same income and I bought for 280k … i love my house and I am so comfortable financially. People need to stop with these crazy mortgage payments, I don’t care what the affordability calculator says
I’m thoroughly convinced that people aren’t really looking at the job market. Just because you “could” doesn’t mean you should. I recently, watched a recruiter state that companies are going to do even more major layoffs this year including Google. Buy a cheaper home if you can just in case something happens. I know in CA it might be hard but pushing yourself to the max of what you can afford is insane.
I work in tech in CA and predicted this will happen so I moved to AZ, now I just have a normal tech job but my house payment is insanely cheap compared to what I would have pay in CA.
If they do not have to commute, the High Desert up the Cajon is still affordable but it is changing fast. I came up when it was cheap, now the homes are in the mid $400K to $500K.
Nope!!!!! 1min in and nope they cant. That monthly payment would be about $5k, so hell no! Edit: in lawsoving in but forever? They can afford it with their help but not without.
This video was about me and my situation. In laws are helping out until my wife goes back to work in 2-3 years and when she does she’ll contribute the $2k a month
I would advise the couple to wait until houses adjust and by that time their son will be around 5 yrs old just in time for a good school district. I live in Cali and Lancaster is NOT the greatest.
Not sure what you mean by adjust but I am not seeing the houses going lower in CA. Most locked in low rates or refi'd to lower rates so it seems they will remain flat for a while and then creep up. Should wait until wife is able to work and then buy if they can. No sense in waiting. I have family members that continue to cry for a crash since the 90's and now are stuck renting for the rest of their lives. Wish I was old enough to have jumped in during the 90's crash....
Thanks for the video Javi. My in laws are gonna help us out until my wife goes back to work in 2-3 years and when she does, she’ll contribute the $2k a month. That gross and monthly income in the video is just me.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with “Camille Alicia Garcia” for the last five years or so, and her returns have been pretty much amazing.
Just because you are pre-approved for an amount doesnt mean that you should go for it. Depending on others for your stuff is stupid and idc who they are. This decision should be based solely off of your income not parents or whomever isnt on the actual loan. Anything can happen.
I just don’t understand how regular people are affording homes with the current housing situation. The only way I’ve seen it work is if multiple families are living in the home. It’s just so sad.
In my opinion, if things keep going they way they are, multi-generational households are going to become the norm. It will be very interesting to see how American culture adjusts to this outcome.
This was a great example as I'm in Southern CA and Lancaster to many is an option. I'm about the same take home pay as this family good to know where I stand ..sadly 😢
I know everyone’s circumstances are highly individual. My husband and I live in Texas and are saving up to buy a home cash. We follow Dave Ramsey’s advice for our finances. We are debt free, living a frugal lifestyle and under our means. The believe that the daily financial choices we make add up to us being able to put our money towards what we value. We are saving like crazy and calculate that we may be able to buy a modest home in about another year and a half. We want to live in a beautiful, scenic (mountainous) area but know we cannot afford it so are choosing affordable cities/states to buy in. We will likely buy in Texas (not Austin! Too expensive!!) with cash in 2026.
I instantly know they cannot afford this! My household income is 180-185k with my wife. Trying to buy a home with the VA loan while only using my income of 140k is hard when you want to stay within the 20-30% range for a 400k home and we have no debt.
Why does nobody talk about multifamily homes? All i look for is duplex homes minimum since i want the tenant to take most of the hit of my mortgage. Banks also count a part of what that potential rent would pay which means you can buy a more expensive house. The flipside is that if the apartment is vacant you get the full hit of the mortgage. But the way this market is there will always be people willing to rent. My parents bought a 3 family house in the bronx nyc back in 2008 and they basically lived for free until today where its almost paid off.
Hey Javier, I've been home shopping with an agent for about six months and was just asked to sign a new contract with the new year. My wife and I feel ready to part ways with our agent, partially because we're not confident that they could represent our existing home well when we sell. Any suggestions on how to inform them diplomatically? We don't dislike them, but feel ready to work with someone else.
Javier hope you see this comment. You should show a certain VA loan trait called “residual income”. While this is a stupid way to qualify, you can still qualify.
Id like to see you do one of these that actually work… or reverse work the formula showing what you do need to be able to afford a 550k house and not be house poor. With the interest rates, almost no scenario works unless you can put down the 20% and have 6 months of reserves and savings. The market right now is not favorable for 75% of the buyers it seems
Generally 1/3 the home price as your annual pre-tax income is a good place to start, or $183k for a 550k house. That can obviously vary with interest rates and down payments.
@@RobGarcia92 what's the plan should they want to leave in those 2 to 3 years or if they pass? Rent or sell the house or 4 jobs no sleep? Or why not wait 2 to 3 years and save up. Then once her income in locked in go for the house.
#1, who's getting approved for a 520k loan with a $6250k/mo income??? That's darn near a jumbo loan! (exaggerated, but still, you get the picture) #2 What's a yearly income of $6250/mo, you calculate that and then determine if this is clickbait.
After mid career, he cannot out save inflation of the closing cost and the perpetual increase in PITIA until he locks it down with a purchase. I would hesitate because it’s a lot of money for a dumpy area, not because it’s a stretch.
Sure you're pre-approved but that doesn't mean you max out your loan. No maxing out retirements, college funds, or putting extra into other investments. I cannot believe people making less than 100,000 net believe this is a "good long term investment" Lets say your spouse makes the same income...your net is only slighltly over 100,000 dollars. The More money you make the more taxes you'll pay. Buy a smaller home or buy into a different area or ask for an advance on in-laws inheritance because this will end very badly If you make $216,000 a year living in the region of California, USA, you will be taxed $77,848. That means that your net pay will be $138,152 per year, or $11,513 per month.
I am so glad I moved to Chandler while all this crazy stuff is going on in CA. Lancaster is in the middle of nowhere in Cali, and they are asking that much money for a house. I view those videos basically to remind myself how good I have it now in Phoenix, with my own condo and a monthly payment no more expensive than the rent of a one bedroom apartment in CA, with lower taxes, free gun laws, and much better traffic. For all of you in Arizona, please do remind yourself you are having it good, I know I do it every day because I escaped the reality of what this video was about.
It’s drastically worse than it has been, keep in mind. Everything is relative. So while it seems so good for you, us who were born and raised here have watched it decline. That said, I agree it is still really good here… but so much worse with the huge jump in population recently. Welcome to Chandler, though. I love it here!
@@Wrought_Iron_Wolf Yeah man glad my first choice to settle my life in the US after CA turns out to be a huge hit. With my own condo and a manageable monthly payment, I actually get to enjoy life for once. People who were raised here that are used to the comfort PHX offers are going to be shocked at how hard life is for everyone outside of it.
@@RobGarcia92 The area is changing because everyone from Los Angeles is coming this way. Lancaster/ Palmdale is the last affordable place in Los Angeles County. If you decide to move to Lancaster or Palmdale, the west side is the best side!!! East side is the ghetto side.
@@RobGarcia92 I was born out here, but moved to Downey/ Norwalk area shortly after I got married. Then moved to Orange County, Tustin/ Irvine. I moved back when we were having our second child. It was the only affordable place to get a good size and newer home! Every other place is sky high for a house that was built in the 1940’s😭😭😭😭
@@aricnunley5504 I was born and raised near Downey, live in Woodland Hills now and even with a decent household income there’s no way you’re going to afford anything close to what you can get in Lancaster. I’ve driven by the area to see homes and living in the new build communities doesn’t seem bad.
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@@InternetUser._ I’m 24 making $105k in the D.C area. $105k can’t even comfortably buy you a home on the outskirts of the city up here. Don’t get me wrong, I living comfortably, but $50,000 in Kansas probably goes further. I have been to LA on business a few times, and it makes DC look cheap.
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It’s too tight! When I was living in California, I wasn’t even thinking of buying anything above the $273k and making 100k. I bought a condo for 273k with a 73k down payment. Yet, I still thought it was too tight with a 4% interest rate in 2018. I was tackling that mortgage the first couple years until I was qualified for a free refinance at a new rate 2.5%. Idk why people wanna be house poor? Family was thinking we were making 30k a year because I bought a condo for 273k. 😂the bank said I qualified for a 500k home, they’re out of their mind! You want to invest your money in the stock market also, not just throw everything in a home. What happens if one loses a job? What about traveling and kids?
Too bad people don’t think like this
Same income and I bought for 280k … i love my house and I am so comfortable financially. People need to stop with these crazy mortgage payments, I don’t care what the affordability calculator says
If you have to ask, then it's a no...
I’m thoroughly convinced that people aren’t really looking at the job market. Just because you “could” doesn’t mean you should. I recently, watched a recruiter state that companies are going to do even more major layoffs this year including Google. Buy a cheaper home if you can just in case something happens. I know in CA it might be hard but pushing yourself to the max of what you can afford is insane.
I work in tech in CA and predicted this will happen so I moved to AZ, now I just have a normal tech job but my house payment is insanely cheap compared to what I would have pay in CA.
Are you referring to the Life After Layoff channel?
Javi said CA and I just laughed…Nooooo way can they even afford a tent under the 405!
True but it depends where. Bay area prices definitely not the same as somewhere in the valley
If they do not have to commute, the High Desert up the Cajon is still affordable but it is changing fast. I came up when it was cheap, now the homes are in the mid $400K to $500K.
@@bernitup6492400k is not affordable lol
Nope!!!!! 1min in and nope they cant. That monthly payment would be about $5k, so hell no! Edit: in lawsoving in but forever? They can afford it with their help but not without.
This video was about me and my situation. In laws are helping out until my wife goes back to work in 2-3 years and when she does she’ll contribute the $2k a month
I would advise the couple to wait until houses adjust and by that time their son will be around 5 yrs old just in time for a good school district. I live in Cali and Lancaster is NOT the greatest.
Or a cheaper home around the 450k 🤷🏻♂️
Hi, this video is about my situation. What’s wrong with Lancaster?
Not sure what you mean by adjust but I am not seeing the houses going lower in CA. Most locked in low rates or refi'd to lower rates so it seems they will remain flat for a while and then creep up. Should wait until wife is able to work and then buy if they can. No sense in waiting. I have family members that continue to cry for a crash since the 90's and now are stuck renting for the rest of their lives. Wish I was old enough to have jumped in during the 90's crash....
C'mon now we're in California and when was the last time there was any adjustments lol prices keep climbing.
@@RobGarcia92it's a rural area and surrounding area is ghetto Palmdale specifically.
Thanks for the video Javi. My in laws are gonna help us out until my wife goes back to work in 2-3 years and when she does, she’ll contribute the $2k a month. That gross and monthly income in the video is just me.
Plus, new builds in Cali will have to solar. That's an extra cost, no builers put that in the Zillow listing.
Thought he was talking bout me I live in Lancaster California but I’ll never buy a house there I’m leaving this month and never going back 😅
It’s about me. Why are you leaving?
@@RobGarcia92it’s like the armpit of CA. Most think LA, SF, SD for CA with beaches and beauty. Lancaster is desert 🌵 blah. IMO
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
@@hunter-bourke21 Please can you leave the info of your financial advisor here? I’m in dire need for one
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with “Camille Alicia Garcia” for the last five years or so, and her returns have been pretty much amazing.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
This makes sense if you’re renting the room and garage. House hack doable and worth it. There are always renters looking for housing
Just because you are pre-approved for an amount doesnt mean that you should go for it. Depending on others for your stuff is stupid and idc who they are. This decision should be based solely off of your income not parents or whomever isnt on the actual loan. Anything can happen.
I just don’t understand how regular people are affording homes with the current housing situation. The only way I’ve seen it work is if multiple families are living in the home. It’s just so sad.
because It's not that bad builders are giving incentives its as if rates never went up
Regular people can't afford homes in this current housing situation
I bought a 340k home in 2023...Family of 5...1 income....$112K a year....Massachusetts
@@jimmyjay689 most people don’t make 112k a year
In my opinion, if things keep going they way they are, multi-generational households are going to become the norm. It will be very interesting to see how American culture adjusts to this outcome.
This was a great example as I'm in Southern CA and Lancaster to many is an option. I'm about the same take home pay as this family good to know where I stand ..sadly 😢
Absolute madness that homes are now expensive in rural areas like Lancaster!
Our lender chuckled when we bought our home with a DTI of 11% of our gross income.
I know everyone’s circumstances are highly individual. My husband and I live in Texas and are saving up to buy a home cash. We follow Dave Ramsey’s advice for our finances. We are debt free, living a frugal lifestyle and under our means. The believe that the daily financial choices we make add up to us being able to put our money towards what we value. We are saving like crazy and calculate that we may be able to buy a modest home in about another year and a half. We want to live in a beautiful, scenic (mountainous) area but know we cannot afford it so are choosing affordable cities/states to buy in. We will likely buy in Texas (not Austin! Too expensive!!) with cash in 2026.
He may be a disabled veteran so could save on property taxes with an exemption. It may not help a ton, but it's a factor to consider
So lucky now I feel my property tax on my condo here in PHX is like $50 lol.
I instantly know they cannot afford this! My household income is 180-185k with my wife. Trying to buy a home with the VA loan while only using my income of 140k is hard when you want to stay within the 20-30% range for a 400k home and we have no debt.
😂😂😂
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Why does nobody talk about multifamily homes? All i look for is duplex homes minimum since i want the tenant to take most of the hit of my mortgage. Banks also count a part of what that potential rent would pay which means you can buy a more expensive house. The flipside is that if the apartment is vacant you get the full hit of the mortgage. But the way this market is there will always be people willing to rent. My parents bought a 3 family house in the bronx nyc back in 2008 and they basically lived for free until today where its almost paid off.
I saw the title, said "no" but, I clicked anyway. Love your content, brother!
Recommend checking out Bakersfield I know it's not the greatness but Lancaster either
Thought about it but it’s too far out there. Lancaster is at least 1 hour outside of the valley
@robgarcia6143 whats wrong with california city?
Rosamond, CA.
Hey Javier, I've been home shopping with an agent for about six months and was just asked to sign a new contract with the new year. My wife and I feel ready to part ways with our agent, partially because we're not confident that they could represent our existing home well when we sell. Any suggestions on how to inform them diplomatically? We don't dislike them, but feel ready to work with someone else.
Need to make at least 150 for this to work well
Javier hope you see this comment. You should show a certain VA loan trait called “residual income”. While this is a stupid way to qualify, you can still qualify.
This was a spot on video
Lancaster is anything but fancy. 450k in Lancaster is a rip
Already know the answer to this one...
Id like to see you do one of these that actually work… or reverse work the formula showing what you do need to be able to afford a 550k house and not be house poor. With the interest rates, almost no scenario works unless you can put down the 20% and have 6 months of reserves and savings. The market right now is not favorable for 75% of the buyers it seems
Generally 1/3 the home price as your annual pre-tax income is a good place to start, or $183k for a 550k house. That can obviously vary with interest rates and down payments.
Or if the in lawys kid the bucked the house needs to be kicked the bucket too. Never go into a home relying on in laws monthly income.
I’m only relying on them for 2-3 years until my wife goes back to work then she’ll contribute the $2k monthly
@@RobGarcia92 what's the plan should they want to leave in those 2 to 3 years or if they pass? Rent or sell the house or 4 jobs no sleep? Or why not wait 2 to 3 years and save up. Then once her income in locked in go for the house.
I just came here to say NO.
#1, who's getting approved for a 520k loan with a $6250k/mo income???
That's darn near a jumbo loan! (exaggerated, but still, you get the picture)
#2 What's a yearly income of $6250/mo, you calculate that and then determine if this is clickbait.
After mid career, he cannot out save inflation of the closing cost and the perpetual increase in PITIA until he locks it down with a purchase. I would hesitate because it’s a lot of money for a dumpy area, not because it’s a stretch.
Sure you're pre-approved but that doesn't mean you max out your loan. No maxing out retirements, college funds, or putting extra into other investments. I cannot believe people making less than 100,000 net believe this is a "good long term investment" Lets say your spouse makes the same income...your net is only slighltly over 100,000 dollars. The More money you make the more taxes you'll pay. Buy a smaller home or buy into a different area or ask for an advance on in-laws inheritance because this will end very badly
If you make $216,000 a year living in the region of California, USA, you will be taxed $77,848. That means that your net pay will be $138,152 per year, or $11,513 per month.
I thought it was 1/3 of your income not 1/4?
Yes, DP needs to be $250k
Nope..... I make more, and 2k payments are pushing it.
That’s just my income. My wife goes back to work in 2-3 years and will contribute $2k a month
Top comments are all bots.
Damn… you’re so true
They should search for the cheapest home they'd feel comfortable in and spend 10-15 years saving half of that salary every month.
I am so glad I moved to Chandler while all this crazy stuff is going on in CA. Lancaster is in the middle of nowhere in Cali, and they are asking that much money for a house. I view those videos basically to remind myself how good I have it now in Phoenix, with my own condo and a monthly payment no more expensive than the rent of a one bedroom apartment in CA, with lower taxes, free gun laws, and much better traffic. For all of you in Arizona, please do remind yourself you are having it good, I know I do it every day because I escaped the reality of what this video was about.
It’s drastically worse than it has been, keep in mind. Everything is relative. So while it seems so good for you, us who were born and raised here have watched it decline. That said, I agree it is still really good here… but so much worse with the huge jump in population recently. Welcome to Chandler, though. I love it here!
@@Wrought_Iron_Wolf Yeah man glad my first choice to settle my life in the US after CA turns out to be a huge hit. With my own condo and a manageable monthly payment, I actually get to enjoy life for once. People who were raised here that are used to the comfort PHX offers are going to be shocked at how hard life is for everyone outside of it.
Invest with what you can afford, stay in the game, persist and eventually you will reach a satisfying level of proficiency, Mrs Nancy told me that..
Not at all. I'm 10 seconds in
I live in Lancaster, Ca 🤣🤣🤣
How’s it like out there? This video was about me and my situation.
@@RobGarcia92 The area is changing because everyone from Los Angeles is coming this way. Lancaster/ Palmdale is the last affordable place in Los Angeles County. If you decide to move to Lancaster or Palmdale, the west side is the best side!!! East side is the ghetto side.
@@RobGarcia92 I was born out here, but moved to Downey/ Norwalk area shortly after I got married. Then moved to Orange County, Tustin/ Irvine. I moved back when we were having our second child. It was the only affordable place to get a good size and newer home! Every other place is sky high for a house that was built in the 1940’s😭😭😭😭
@@aricnunley5504 I was born and raised near Downey, live in Woodland Hills now and even with a decent household income there’s no way you’re going to afford anything close to what you can get in Lancaster. I’ve driven by the area to see homes and living in the new build communities doesn’t seem bad.
@@aricnunley5504 the way I see it and talk myself into it is I tell myself it’s like moving to Vegas without the strip lol
Hell no
Move out of California and go for a home thats way cheaper.
Did that now I love my life in AZ.
No they can't haven't seen the video but I say no 😅
Lancaster is a non desirable place in california
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year... Investment should always be on any creative man's heart for success in life..
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are the strategies?.
I'll advise you to work with a financial advisor.....Building a good investment portfolio is more complex so I would recommend you seek an expertise like Fergus Waylen's support with his top notch experience and insights to secure and minimize the possibilities of losses
Wow I'm amazed You mention expert Fergus waylen I thought I'm the only one that benefit from his services
Well, you are saying the fact. I invested $4,000 with fergus Waylen. and earned $12,000 .
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You want to buy a house and have you're in-laws move in with you? You've lost your mind!
Why do people live in California again?
To make 100k+ in our early 20’s
People make alot of money out there but have to spend a lot. And Cali is fun
@@InternetUser._ I’m 24 making $105k in the D.C area. $105k can’t even comfortably buy you a home on the outskirts of the city up here. Don’t get me wrong, I living comfortably, but $50,000 in Kansas probably goes further. I have been to LA on business a few times, and it makes DC look cheap.
@@InternetUser._ Honestly, In general I think $100K is the new $75K.