Dave Ramsey's US home purchasing guidelines are out of touch.

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Thread: Dave Ramsey's US home purchasing guidelines are out of touch.

04-29-2022, 05:26 PM

#31

soaponarope1
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Originally Posted By friesbruh⏩

even dave ramsey followers know hes fukcing insane when it comes to these home buying "guidelines"

oh and his referral for real estate agents is a complete rip. brb charging 33-40% per deal.

google shows the average US home price is around $392k, btw

Correct, his advice is good for people who are just learning how debt works. Once you can calculate interest, ROI, make a budget, and live at or below your means his advice is really dumb.

Don't blame him though he's made a ton of money with his schtick so why change it.

04-29-2022, 05:26 PM

#32

_zman
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Dave offers good advice from time to time, but is out of touch with reality.

I'd say a good start is just avoiding PMI and then the down payment will reduce the monthly cost too. Personally my mortgage is <15% of take home pay. When I bought it, it was just under 33%. 1/3 is the general rule of thumb, iirc. And I'd say that's about right.

A home is typically the best investment most people make, so I'd say take a loan on as much as you can afford, but try not to exceed 33% of take home.

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04-29-2022, 05:36 PM

#33

r32gojirra
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Fake news OP house prices dropped by 60% earlier this year

Lmao if you missed your chance

04-29-2022, 05:44 PM

#34

Polaris

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Originally Posted By soaponarope1⏩

Don't blame him though he's made a ton of money with his schtick so why change it.

Just further evidence of how moronic the general public is.

04-29-2022, 06:01 PM

#35

AWSbruh
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Originally Posted By Bando⏩

You could do that, but in reality hardly no one ever does.

Dave Ramsey is not about the math, he's about how normal people actually manage their money. You are not likely to underpay your 15 year note, but if you set up a 30 and tell yourself you're just gonna pay an extra $200 a month, you might do it for a few months. After a few months your kid wants a GI Joe with the Kung Foo grip so you decide this month you're not going to pay the extra, but you'll make it up next month. Next month your Daughter wants a GI Jane and it just goes on and on, for 30 freaking years.

Jesus you sound like a cuck like the rest of his dumb followers Lmao.