Real Estate Part 1: Why You Shouldn’t Buy A House

This video debunks common reasons for buying a house and outlines why buying a house is a bad financial decision.

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20 Responses to Real Estate Part 1: Why You Shouldn’t Buy A House

  1. ShowBizJunkie

    Everybody is a real estate expert here giving conflicting opinions. it is true one must always use cash if one has but in our society, you can't avoid mortgage. to make money in this society, you need to buy houses or other real estate. it is funny in 2015, he is saying not to buy the house but look in 2017 how much the houses have gone up. people were smart enough to buy houses sort cheap and sell them at a profit. Don't listen to these "expert", always make your own well-informed decision

  2. Melissa Kinsler

    I know this video is two years old but it resonates with me. We purchased a house in upstate NY in ’04 right before the market crash. Needless to say the value of our house dropped by at least $100k and we were stuck in NY for 13 years just to break even with the sale this summer. We only wanted to be there for five. We literally felt like we were being held hostage by this house! Thankfully, my husband never lost his job but that was always a concern. Owning a house, as you mention in many ways, never added any value to our lives. Only stress and misery because as you mentioned like Canada the winters in NY are brutal and there’s always lots of snow and taxes are outrageous! Luckily, we sold our house and we moved south where we are renting and have NO intentions of buying. Especially, after watching your video, it just reiterates what we already know.

  3. Neverwinter27

    I already paid off my mortgage for my house, but I don't have a family to raise. What would be my next move? I'm around the same age as you man.

  4. Immortal Mindz

    Gave this video a thumbs up after the first :35 secs. I knew it would be fire bro….great vid.

  5. Kevin Shirl

    Great attitude, and i agree.This is the real reality.

  6. Roy Kolberg

    Just want to say thanks for taking the time to record this. I'm at the position where I can buy property, so I'm doing a massive hunt for everyone's different perspectives on home ownership and the "traditional" life path that we're encouraged to take (ie: school, college, job, marry, house, kids…).

    Your point of view was compelling!

  7. talabama

    I am an engineer, mathematician, and company's owner.  The numbers are so against buying a house.  The numbers never lies,
    If you had invested $80 dollars in Coke stock in 1919 you would have today between $5 million to $8 million dollars.   If you put all your money in something that gives you money all the time like coke stock, Johnson & Johnson or PM stocks.  You will never have a problem in your life.  I had been in 48 countries, my girlfriend is a 10, I can fly anytime to any country and stay for one year.  The numbers never lies.  I am lucky to analyze everything.   Mr. Buffett is my master.

  8. Sumana Shrestha

    I'm in the process of buying my first home. As I was doing my research on youtube lol. I came across this video. In first few minutes I heard you, I felt like I'm making the biggest mistake of my life. I agreed on every word you said, then when you talked about happiness, I questioned myself. What makes me Happy? What makes everyone Happy? Happiness has different meaning for different people. For me, I am not happy to live in apartment. I will be happy if I have my own backyard; not to show off, but to hangout and relax, do a little cookout, and family gathering. I am not happy that I'm putting my money to Rent and it's going nowhere. I have leased a car for 3 years and spent about $15 grand and returned it. I wasn't happy at the end. I wished I had financed which am doing it now and am happy, whether or not this car will last me in next 20 years. I know at the end of the day, i'm owning it and am giving it to NOBODY. I want to travel, everyone does. My happiness doesn't lie on just travelling to different places, eating good food, and hanging out with friends. My happiness lies when I get that obligation to work harder, it makes me motivated and not lazy. Buying a house is a push on my back to go out there and do something. Once I made a soap dispenser out of a used candle light glass and I put it in my bathroom. My roommate asked why did I make that when we already had a soap dispenser. I responded, "I know we don't need a soap dispenser. But I made one because now when I see it everyday, I feel happy to know that I put my effort and creativity to make it." By saying that, I don't agree nor disagree with what you said on this video, but simply to people out there, go with what your heart, mind and gut says. Everyone is aware of all hassles and obligation they will have once they buy a house, and it's not just for a house but with everything you deal with in life. It is to you if you think owning a house will be against your happiness in your ways of living, not someone else.

  9. J Kim

    Great video! Home is not an investment. It is more of an expensive life style decision. I know a person bought a house in DC surbuban area at $250K in late 1970s. The home price appreciated to $1.5M. 6x appreciation sounds good but had he invested in S&P 500 instead, the return would be 2800%. With dividend reinvestment, the return would be 9500%…… I can't agree more. Sign a marriage is fucking retarded.

  10. Ginette Lafortune

    Where do you get your information. I bought two houses in my lifetime. I bought both of them cash. Now 65 years of age, I raised my family and I enjoyed every moment. Those houses were my dream homes. I do not intend to be rich, it gives you a headache. When I retire, I am going to travel with my RV I bought cash. I do not owe money to anyone. Besides, I am a school bus driver and my husband works for the city transit.
    If we can do it anyone can.

  11. Ion-Christopher DiMeglio

    Other than your hedonism, which at your age mayn't be helped, you seem like a pretty good guy. Hope you stay ethical and consider the benefits of postponed gratification in favor of continued intensive self-education / acculturation. May you rise to the tippy-top of it.

  12. Renzo Speaks

    1min in and I LOVE THIS!!!!you said FUCKTHAT YES!!!!!!!!! COME ON!!!

  13. Noah Hughes

    I completely agree with this. So many of my coworkers are up to their neck in debt with car payments and mortgage payments! Like you I much prefer a life of freedom and detachment.
    My trouble though is that rent in Dallas/FW is all or nothing. It's either $1200 for a "luxury" place or $500 where you are likely to get robbed. You could make it work with a roommate to cut costs. It's hard to justify spending $1200 a month on rent… I absolutely hate the idea of being in debt. I paid $2k for a car that gets me where I need to go and refuse to be in debt for anything.


    I agree in some aspects of this video, but when you have family ( tree children ) we need a plenty space that will never find in an apartment , the needs for everyone are different , but thanks for your insight, still enjoying your life.

  15. Jim Rasmussen
  16. Gene Baugh

    Good Debt is any debt that creates an income which exceeds the cost of the interest. Business is built on such debt and the hope and belief that the expenditure of the loan proceeds will create adequate income.

    This rarely occurs in one's private life and a home mortgage is sometimes a good investment, sometimes it bankrupts you. It is an enormous speculation when you consider the balance sheet of the average buyer.

  17. Al May

    what is your opinion on rent to own homes?

  18. Janae Lynn

    The worse advice ever! Interest on a house is a major tax deduction. Rent always goes up, not down. Buying a house freezes your payment, and interest. Renters are purchasing property for someone else. My cousin, a retired Merchant Marine Cap. lives like a king in Thailand. Do you love hot rain, snakes, bugs? This sociopath can't stay, he's visiting a fascist country. Unless he marries a Thai lady. Property taxes can be deferred at retirement age. This guy is going to die 1st, lonely, broke, homeless, and definitely sexless. He's a Whorehouse stud. God help him if he gets caught with underage girl. They have watch dogs! Only the rich get out of jail. I traveled in my youth. His plan is for very young people. I hope he likes Muslims. Loser big time!

  19. Kamel Benkada

    Very wise thank you

  20. Leather Face

    buying my condo in panama city…renting in diego!