10/24/2023
THE INFORMATION IN THIS PICTURE IS NOT TRUE!
Here's what you need to know...
1. SOME of this MAY POSSIBLY be true in SEATTLE, where this guy operates out of, but it's definitely not the case for anywhere around here or in 95% of most states.
2. Starter home prices are not rising 7x faster than rent, a year ago a house that cost 150k costs about 160k. A year ago rent that was $1,000 a month is now $1,800 a month.
3. (and I cannot say this loud enough) YOU DO NOT NEED 20% DOWN TO BUY A HOME! Most mortgage programs take 3.5% as a minimum, and some don't need any down payment (USDA and VA).
4. The real crisis is continuing to build "luxury apartments" and apartments in general when communities need to be zoning for single family houses. There's just a lack of availability. Continuing to make rental culture the norm is stopping every generation after the boomers from building equity. The only people who profit from rentals are landlords, and they've been left unchecked for too long.
