Posted on 03/07/2024 9:26:22 AM PST by where's_the_Outrage?
“AUTOMOBILES”
Yes, I for got that.
Jinx
You must have been typing the same thought at the same exact time a me.
waist s/b waste
This equates to an hourly pay of almost $65.
So let’s hear it “Fight for $65”
Fast food cooks will start out at min waste of almost $70 an hour.
Dave is right. If the math doesn’t work our for you, look for a smaller/cheaper house.
I didn't in anyway mean for a starter home to be one of the $400K ones. I took from this line in the article:
median price of $402,045
These 2 things: Median is not average. It's middle in the list as far as # of house listed in order by price. And that it's for all homes, not just homes bought by young couples as a started home. The starter homes need to be much cheaper than $400K.
I just did a zillow search in my area and see many small old homes on small lots from 100K to 150K. Saving up 30% for one of those seems quite do-able.
The assumption that there is one right way to buy a house is the problem. What he proposes may work well for people with minimal savings and minimal self-control when it comes to spending but it’s not for everybody.
Some of us have been savers and investors. Paying off a mortgage in 15 years doesn’t work for us. Sometimes paying in cash really works, especially between December and February, and sometimes taking a no-interest loan can work work. Paying back a 30 year loan with inflation-damaged dollars can work well for a lot of people.
The problem is that while you’re being frugal and saving, the house price keeps going up. The longer you save the more you have to save and the less affordable it becomes. If you buy sooner you get that appreciation.
He is like the doctor who tells you to exercise, eat your vegetables, take two aspirin, and call me in the morning.
WOW! I didn’t know that!!!!! /S
Oh yeah, diversify your portfolio. BRILLIANT! Dave.
I think you misunderstand what the problem is and what Ramsey is trying to accomplish. The doctor's advice, like Ramsey's is sound. The problem is that millions fail with the discipline necessary to follow the advice. One need only go to a Walmart to see the the doctors are being ignored.
In your world alcoholism, the fentanyl crises, drug abuse are easy to solve . . . just stop drinking or doing drugs - end of crisis.
Like AA, Ramesy gives concrete steps that can be accomplished an followed easily enough my most people with a little bit of effort. He's not trying to turn everyone into the next Warren Buffet, he's trying to help the undisciplined who failed high school algebra.
Yes. It’s a big burden. This year mine went up $85 a month.
But where is that “average (NEW) house” price of 400,000.00 coming from?
The “math” looks very different when you use a 150,000.00 or 100,000.00 starter used house rather than of the average price of over-hyped new suburbs offering over-sized and over-built McMansions.
20 year mortgage. Condos or mixed-plan apartment style places that you purchase.
I financed at about 5.5% 30y fixed letting the financed part stay in stocks. I refinanced at about 3%.
Leverage your money. Homes appreciate. Stocks appreciate.
I know ALMOST NO ONE who could do a $2800/month mortgage payment.
I guess find a a small box???
Great advice, but as usual people only want to hear what makes them feel good.
Those who have a problem with what Ramsey had to say, and instead refuse to listen to his sound financial advice, will one day find themselves in the poor house wondering what happened.
Yet, in the end times people will hire teachers who will scratch their itchy ears. This is a reference to the endgames in the Scriptures, but it is good advice in all matters relating to one’s life.
Do not listen to anyone who refuses to tell you the truth. Fact is, the truth may not be what you want to hear, but in time it will make you satisfied if you head the advice.
You don’t get a $400,000 house as a starter. You live a little farther from the city and get the $200k house or a mobile. Dave’s advice is excellent and will work for most reasonably employed people. The author of this article is a dope.
My wife and I bought a 30 year old Cape Cod as our first home, did a bit of sweat equity to increase its value, then sold it and used that as a down payment on a larger new construction home 6 years later to raise our two boys.
Maybe people these days expect to have what their parents had while they were growing up, but didn't realize what their parents had before they were born or were toddlers.
Oh, and the interest rate on that first Cape Cod was north of 12%.
Ramsey is a jerk who berates his callers. Calls himself a Christan.
He shilled for that Time Share Exit team who are facing a class action suit. Time Share Exit team basically stole $4,500 from me. They told me to stop paying the maintenance fee for my time share in Vail. I did that for years until ultimately I owed the time share $17,000! Oh but TSET was “we get you out of your time share or your money back.” That’s a lie. After 7 years I tried to get my money back and they claimed that since I didn’t fill out some form in 2019 they would not be giving me the refund.
I ended up negotiating with the time share myself and they let me out of the contract for a mere $2,000. The time share person said the TSET never even tried to contact them! The TSET is just some crooked attorneys. I think the name is Reed/Hein.
And Dave Ramsey is an asshole for recommending them.
The US Dollar was taken off the gold standard in the early 1970s, too. I'm sure it's just a co-incidence.
Reddit is a leftist site. They HATE Dave Ramsey. If you did a poll about buying a house, most of the respondents would say that the government should give you a house.
No one on Reddit would admit that Dave Ramsey’s home buying advice is made difficult/impossible due to Brandenomics.
I was going to say what you did, but I would have added combined as in a committed stable relationship. In other words a two parent household.
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