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I've commented before... I really wish you spoke withe the same mind frame of when you bought your first home. And there you go again with your bubble explosion tin hat from 2019/2020

Thumbs up for perma mustache glasses and downtempo Sonic the Hedgehog beats. <3

How do you not afford anything making $13 000?!

I absolutely love your videos. Thanks for being here :)

I live in Gilbert near Phoenix. My PITI and HOA runs about $750 a month. I haven’t worked in 2 years. I just watch CZcams videos all day long. The thought of working 10 or 12 hours a day for some greedy company gives me headaches. I can’t imagine paying that much for a house. Houses are a lot of work. Lots to keep up with. If I could trade this house for an apartment for $750 a month I’d jump on it. I wish I could just call the landlord and say hey this is broken come fix it. It’s really not a lot of fun unless you like doing things constantly to try to keep up with it. I guess I’m just lazy and whining. Just be careful what you wish for. That’s all I got. Good luck.

People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

Dude in the example has approx. 4.4k left for the month. Also the mortgage would be around 40% of take home pay

It's a bit depressing. For a decent home in Sacramento CA, my monthly payment is going to be around 60% of my net income :/

Owning a house is so overrated today and you can't purchase without being broke until you sell it. It's too bad people can't find anything worth buying under 200k.

To all the non-home owners hopelessly watching this, you need to understand that by simply watching content like Javier's - you're ahead of most people. Being educated & patient is a superpower that not all humans possess. You will be a homeowner someday.

This is why I moved to Phoenix metro once I got a new job and took it remote. Now I really do only spend less than 33% of my monthly take home income on housing. I get to live the lifestyle of my own place, two cars, and a lot of disposable income. Now that dream might be over due to housing cost going up a lot in the PHX metro area.

5400 for a mortage when you make 120k a year is insanity

💯💯

I live in Hawaii where homes in Oahu are on average 1,140,000. Idk how people can buy VHCOL without it being 40%+ of their take home pay.

I’m currently spending 66% of my net income on a mortgage. I had about 100k saved before jumping into it. Used FHA with 3.5% minimum down. I’m single with no kids and $0 debt besides mortgage and monthly living expenses ( no car payment) . After closing, moving in, and doing some minor upgrades to the home I’m down to 70k. I contribute to my companies matched retirement plan and max out my Roth IRA every month ($580). Is it tight? Absolutely. but I’m in healthcare and really have no fear of being without a job. Knowing I have that 70k in the bank gives me peace of mind.

Like the sonic the hedgehog music in the background.

I was paying 50% of my take home pay on rent anyway so why not buy a home and have a lower monthly payment? I decided to buy a townhome in September of 2023. I make 60k, have a net of $3,600 a month, and have a mortgage of $1,550. I have no car payment, credit card debt, or student loans so my monthly expenses aren't that high. It's going well so far plus I have an emergency fund. We'll see if I made the right decision as time goes on.

Nothing is more affordable, including all these overpriced homes. They need to go 30% lower. And then that 30% might not be much in some areas 😢

Idk everything got so expensive, there's no point in even planning for a future. I used to save half my paychecks and housing outpaced me which is insane to say. So why would I continue saving if it led me nowhere and seems to be continuing that trend? I'm gonna spend all my money on pointless things because the future has become pointless. If I run out of money, oh well, it makes little difference.

When will rates hit 5.87%? Also, what would be the max percentage of income to use on a house payment? In your humble opinion 😊

Short sales have already begun in my area and it’s already tanking comps. Some sellers are delisting, others are reducing prices.

I would never have a mortgage that takes 50% of my gross pay or take home pay for that matter. I make around $100k with OT at my job, my wife works part time, so she takes home about $20k (both gross). We got into a modest home and mortgage of $1200 per month and we have no car payments (we drive good reliable used vehicles). With Inflation, even a $1200 per month mortgage doesn't feel that cheap anymore. I can't even imagine having a $2000 plus per month mortgage with the houses being so expensive and the interest rates at 6 plus percent. We are humble an very lucky to be in the housing situation that we are in. Our rate is 3.5%, we have about $170k in equity and we have about $95k to go. Another great thing is that we have good stable jobs. We are very lucky. We have two kids. Here in San Antonio TX. We moved from California to Texas in 2011, for us to be in the situation that we are in. We are humble and lucky. I only hope that one day houses lose at least 30% in price so that others can afford what we currently can with our salary.

House term rates longer than GranPappy’s sack my boy

$11k per month income after tax is crazy!

I live the sonic music.

Yo 😂Javier YouR the CooL DudE SharinG WonderfuL information 😅Thanks

My wife and I are waiting for exactly what you said towards the 10-11min mark of the video. Short sellers and/or forclosures. This will be our soonest opportunity to own a home for what we deem to be a more "fair market" price. The insurance rates are what they are, can't really change that (without spending a scam-level amount of money to buy down a ton of points...) and so we are waiting (anticipating) a partial housing correction through people coming up short month to month, and having to sell the house. We live in the Phoenix area like you Javier, and honestly, if in person you seem as genuine and leveled headed as you are on CZcams, we'd love to work with you. It seems you have most of your clients best interest in mind.

I know every market is different but in my case, I live in a VHCOL area and rents have been going 5% up every year, I made the calculations and in 5 years rent would catch up to current mortgage payments. It's risky but with high interest rates it's very possible that we would be able to refinance in the short term once rates go down and house prices will go up further more.

tbf Reddit is full of idiots and trolls, half the info there is to rile people up.

you are missing a major factor here, mortgage interest is tax deductible. That can knock you down into the lowest tax bracket

He said he makes 11k after taxes and asking if he can afford a home?

housing in my area doubled or tripled in the last two years, The median wage did not. it is going to take a long time before houses become "affordable" again. and this is a small town in Montana with less than 10k people.

I came for the option 3. Just gotta oil up now 👍🏽

.....Who the hell even wants to "own a home" these days ? NOT ME (and I "own" one!). When you consider the MASSIVE COSTS its just not worth it anymore. First we have the MASSIVE INCREASES in things like Insurance (that not Forces you to pay Hundreds per month on the average home and the CONSTANT Repairs that NEVER END. Then we have the ....SLAVE LIKE SYSTEM.....we call "property taxes" that FORCED the "home owner" to hand over Hundreds (or even thousands) EVERY 30 days to the Guberment or if you cant pay them the Guberment will send men with Guns to "your house" to STEAL "your home" from you ! Name me one other asset that you are...FORCED...to PAY $$$ To "own"? Name one ? ONE ? The Truth is that "owning a home" these days is not a dream its a nightmare 1

Thankful we didn’t overspend in 2019. It’s so tempting to spend more on a house because the competition is brutal. It’s not easy at all.

Just like watching videos with dudes that have Groucho classes

Permanent groucho glasses FTW

$300 car payment. Yeah, maybe 5 years go. ☠️☠️☠️

I watch these videos for the memes

Please address this. As a nurse you tend to make the most money in California, Bay Area(San Jose/San Francisco) which would be yearly income of about $200k a year max and take home pay of roughly 10-12K per month. But the least home price out here is 1 million dollars at least and average mortgage is about $7,000 and above . Is the idea of home owner still worth it? I considered home ownership but it looks like i'm just going to be house poor and barely scraping by. Moving to other parts of California is not really an option cause it would require taking a huge pay cut down to about $100k yearly.

I really appreciate this channel man. Rumor has it, September may bring a few surprises and recommendations or is it just another hyped up situation?

Do you really want to throw in the towel and become a long-time customer of corporate landlords who will whack you every time you bend over? Yes, it is very risky to bank on promotions and raises at work. But you gotta do it. If you're dual income, both of you have to work hard and hopefully it will pan out for one of you. A lot of people bought closer to work at 50% of income in 2010, paid only 3.5% or 5% down, and struggled for years. Guess what? It paid off handsomely. They don't have to commute far. They don't have to spend a lot on gas and car maintenance. They have more free time after work. And their kids are in a better school district. And that house is now worth $2m+. Or you could be a renter in SoCal. You could live in gang infested Moreno Valley in warehouse country 1.5 hours away from decent jobs,. Or you stretch your budget and take risks to buy house in Irvine or Walnut. If it doesn't work out, file for bankruptcy and try again in 2 to 7 years. Just like many immigrants work 12 hours a day 7 days a week washing dishes, it's the same thing with 50% mortgage. Are you willing to work hard and sacrifice or not?

Great distinction lenders are their to qualify you not to determine if you can afford it

Javier (aka groucho) Vidana

I gave up 😢 the future is unclear and gloomy.

I bought a home in a similar situation and ended up selling a few months after at a huge loss and was planning on a possible short sale. Being under that much financial pressure is never worth it, every day i was stressed about money. Stress like that can even cause illness. I would buy again but buy way below my means, there are all types of unexpected expenses that come up with a new home. Life is too a short to live for a house, if you can do it at less than 30% ok, if you cant do that then dont buy

Sonic music 👏

Better than 65% going towards rent, which is fast becoming the new normal.

Oh boy another video!! Love this guy, idk what he’s yapping about but I just love that he looks like he’s wearing permanent Groucho Marx glasses 🤩

My parents mortgage was exactly 48% of their income and overall it was a good decision. Yes it was years of living at the bare minimum but now its paid off and they make way more on it then even their social security. Forgot to say that it was a 3 family house so the tenants helped take most of the blow too. I would never buy a single family home unless i can pay it in full.