This is exactly what my husband and I talked about a few weeks ago. We can sell our house and make a huge profit, however, where the heck are we going to go??
I bought my house in 2015. 2021 its value went from about $150 to $280k. My income went up 15% in that same time. No way today could I afford my house.
Just to be clear, you can either sell high and buy high for lower interest rates with more people to buy your house but more competition to any house you want to offer on, or sell low and buy low with higher interest rates and fewer buyers to buy your house but fewer people to compete with when putting an offer on a house you want. So it’s quite comparable I think.
As the value goes up , head start to swivel and skeptics begin to soften .. Starting a new currency is easy , anyone can do it ..The trick is getting people to accept it because it is their use that give the "money" value
In few months or no time people will definitely start kicking themselves in regret for missing the opportunity to buy or invest in cryptocurrency because of the dip...
What if we sold, then rented until the prices start to go down? Leaving the money made from the sell of the house in cd or something until we are ready to buy. Especially when moving to a new city where we want to experience different areas.
At 5:16 he says "if you have someplace else to live until this thing cools off" then it's no problem. So theoretically thinking, you should be fine if you are willing to give up your home and live in a rental. But note that in this video Dave also says that housing prices have rarely gone down and we might not see this go back to "normal" before the pandemic. Personally, I'd keep the home, continuing paying it off and investing in it's equity.
It worked out great for us. We sold our house in a large metropolitan area for double what we paid for it in ‘08 and bought a much nicer house in a smaller city. Win, win.
Yes, but what if you don't want to live in a house anymore, with all the maintenance and all. My wife isn't ready but I could happily move to an assisted living apartment.
Those are my husband’s exact words when he retires. Sell and go straight to an adult community. Mind you we are just in our early 50’s & although I love our house it’s only fair to say it would be a wise decision .. 👍🏼👍🏼
I'm in New Jersey. We bought our house for 240, it's probably about 180 left. Our house has supposedly gone up in value to around 400, at least according to all the websites like Zillow. I wanted to convince my wife to sell the house and move out of New Jersey to somewhere cheaper. If you could take that 200+ in profit and buy a house outright or at least have a very very small mortgage. But my wife doesn't want to leave the area. Smh
SO many people have moved down here to SC from Jersey and I'm a northerner myself but been here God 17 years. That being said....if you can convince her do it. Taxes are much cheaper here as well.
COME ON DAVE . It's TOTALLY FINE to sell now, with that said, you should use all that extra money as a down payment. This will essentially give you the same mortgage you have now but with an upgraded home. Stay within your means.
Sounds like the wife is too excited about all of the extra money they'd get for selling their house without any clue about how much money it would cost them to buy a new house. I hope she's not in charge of their budget!!!
@@DustinSilva Yes vs the urban areas where guns rules are very strict. Pretty much no carrying guns is allowed. In rural places everything under the sun is a target practice.
If you have the ability to compete with other buyers , it is a good time to upgrade. Put a large amount or all of your equity into the new house so at the end of the deal you don't have much more debt but you do have much more house for almost the same amount of payment 😉
"I've had my real estate license since 1978". Terrible argument from authority. The data shows that there will be a crash 20-30% within the next 1-2 years.
A crash of 20%? So you mean prices next year will be what they were earlier this year? That's not really going to hurt anyone who buys today. At the absolute worst it would temporarily pull back to the price point at the start of the pandemic. It's not as if everyone's house is suddenly going to be worth $1. A slowdown in appreciation is far more likely than a crash. And even that will only be temporary.
@Ramsey Solutions. Been listening to these videos for years and they are amazing. One quick request: I’ve noticed an uptick of taking the Lord’s name in vain. Oh my “Gosh” is better. I’m watching these with my kids as well 🙂 Thx 🙏
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This is exactly what my husband and I talked about a few weeks ago. We can sell our house and make a huge profit, however, where the heck are we going to go??
Lol...the same here, in Florida
Yeah you have to have multiple homes and options in order to move.
😭
Same here
Rural NM, 4bd, 3bth, 2400 sqft on a 0.33 acre City lot>> $110K
Walk away from my current home>>$260K
Again, sell high, buy low
I bought my house in 2015. 2021 its value went from about $150 to $280k. My income went up 15% in that same time. No way today could I afford my house.
Just to be clear, you can either sell high and buy high for lower interest rates with more people to buy your house but more competition to any house you want to offer on, or sell low and buy low with higher interest rates and fewer buyers to buy your house but fewer people to compete with when putting an offer on a house you want. So it’s quite comparable I think.
The reason we are all there is that the current financial system is outdated
I enjoy making money online , there is this good feelings it give me
Yes everyone knows what make sense to them
As the value goes up , head start to swivel and skeptics begin to soften .. Starting a new currency is easy , anyone can do it ..The trick is getting people to accept it because it is their use that give the "money" value
In few months or no time people will definitely start kicking themselves in regret for missing the opportunity to buy or invest in cryptocurrency because of the dip...
Sell the wife and kids and keep the house.
Sell the neighbors.
Sell the hoa
Be on a rice and beans diet
Dont forget to sell the car
you wrong
What if we sold, then rented until the prices start to go down? Leaving the money made from the sell of the house in cd or something until we are ready to buy. Especially when moving to a new city where we want to experience different areas.
As long as you can get are rental.
At 5:16 he says "if you have someplace else to live until this thing cools off" then it's no problem. So theoretically thinking, you should be fine if you are willing to give up your home and live in a rental. But note that in this video Dave also says that housing prices have rarely gone down and we might not see this go back to "normal" before the pandemic. Personally, I'd keep the home, continuing paying it off and investing in it's equity.
@@ImGeoX Hey Geo 👋
Thinking of doing the same
Then all that money wasted on rent is lost
It worked out great for us. We sold our house in a large metropolitan area for double what we paid for it in ‘08 and bought a much nicer house in a smaller city. Win, win.
Yes!!! 👏
Why not sell now, rent an apartment for a year or two, then buy under better conditions later?
Yup we are selling in March and that's exactly what we are going to do
Because then you'd have to live in an apartment
Because you are gambling on your place you sleep at night.
Because how do you know that in two years it will all be under better conditions?
Yes, but what if you don't want to live in a house anymore, with all the maintenance and all. My wife isn't ready but I could happily move to an assisted living apartment.
Those are my husband’s exact words when he retires. Sell and go straight to an adult community. Mind you we are just in our early 50’s & although I love our house it’s only fair to say it would be a wise decision .. 👍🏼👍🏼
I'm in New Jersey. We bought our house for 240, it's probably about 180 left. Our house has supposedly gone up in value to around 400, at least according to all the websites like Zillow. I wanted to convince my wife to sell the house and move out of New Jersey to somewhere cheaper. If you could take that 200+ in profit and buy a house outright or at least have a very very small mortgage. But my wife doesn't want to leave the area. Smh
location location location!
You might get a better response if you had a specific location in mind. “Somewhere cheaper” isn’t definitive enough to counter her concerns.
Get out of Jersey! Get her to believe it's her idea
She's probably seeing another guy in that area. Leave her king
SO many people have moved down here to SC from Jersey and I'm a northerner myself but been here God 17 years. That being said....if you can convince her do it. Taxes are much cheaper here as well.
We are not in a “housing economic crisis” this is a “SOVEREIGN DEBT CRISIS” Dave! Macroeconomic realities are Dave’s blind spot.
Dave must have slept through the real estate bubble of the 1980s that wiped out every S&L in the country.
We want to downsize but it is too overwhelming for us. We are going to wait for now.
why not downsize? Pay down a huge deposit on a smaller mortgage
The only place houses are cheap and in abundance is Midland Texas. Not a great place to live though.
Move to rural America.. all you need is internet
@@adamross4295 And resignation, that you won't make the Golden Hour
to emergency care.
COME ON DAVE . It's TOTALLY FINE to sell now, with that said, you should use all that extra money as a down payment. This will essentially give you the same mortgage you have now but with an upgraded home. Stay within your means.
So now I don't care if I bought high I eliminated 1850 a month and it's a quarter of the taxes. I'm pumped. We don't fully move in until next month
HODL, property will keep going up!
Cash out. Retire. Move overseas.
Maybe if you're downsizing or moving to a cheaper area?
The hood
Sounds like the wife is too excited about all of the extra money they'd get for selling their house without any clue about how much money it would cost them to buy a new house. I hope she's not in charge of their budget!!!
move rural, housing way cheaper
@@DustinSilva and shooting is more frequent :)
@@MJ-cf9nl I hope you're referring to target practice
@@DustinSilva Yes vs the urban areas where guns rules are very strict. Pretty much no carrying guns is allowed. In rural places everything under the sun is a target practice.
@@MJ-cf9nl haha you nailed it. That was one of the main reasons behind our move; that and the serenity that comes with living in the woods.
Selling to buy in the same area doesn't make financial sense.
Unless you're downsizing.
Good question.
Phoenix 2008 !!
Almost move there During time, just did not get together.
@@sunnydays4966 It's never too late!?
Black rock should be forced to relinquish all their houses the immorally aquired
Are you against capitalism?
Yes
capitalism is the best, it just needs some knicks and crannys
People here don't seem to know what a 'bubble' is
Pop… any time now would be great.
If you have the ability to compete with other buyers , it is a good time to upgrade. Put a large amount or all of your equity into the new house so at the end of the deal you don't have much more debt but you do have much more house for almost the same amount of payment 😉
No lol.
That's not how it works lol.
Now's the time to SELL! SELL! SELL!
A realtor friend told me the same. 😂
This actually was a stupid question in my opinion
sell and move abroad where it’s cheaper…
Yep, like in South Africa.
Stop violating Indian treaties for as far back as I can remember from the beginning
"I've had my real estate license since 1978". Terrible argument from authority. The data shows that there will be a crash 20-30% within the next 1-2 years.
Mind sharing the data?
How does data show that?
@@marojupavan exactly
A crash of 20%? So you mean prices next year will be what they were earlier this year? That's not really going to hurt anyone who buys today. At the absolute worst it would temporarily pull back to the price point at the start of the pandemic. It's not as if everyone's house is suddenly going to be worth $1. A slowdown in appreciation is far more likely than a crash. And even that will only be temporary.
@@mikeb.2925 Yes.. they will be back at pre-pandemic levels.. Not 2008 housing crisis type of crash.
It's only good selling when you are downgrading
Nope! Depends on everyone’s situation…
@Ramsey Solutions. Been listening to these videos for years and they are amazing. One quick request: I’ve noticed an uptick of taking the Lord’s name in vain. Oh my “Gosh” is better. I’m watching these with my kids as well 🙂
Thx 🙏
Sell the house when you notice the bubble is growing. You're welcome. :)
Stonks only go up
😎👍✌🖖👌😁