But the idea that some of you are still Sitting around waiting on this Market to Correct is hilariously stupid it's a Good World good World I think the reality is is that man Is Hysterically out of touch with normal Americans and welcome back to real Estate mindset today what we're going to Do is we're going to Deep dive into the Video from Dave Ramsey and we're going To analyze what he's telling America About the housing market and I already Know I'm going to get hate there are Subscribers of my channel that Absolutely love Dave Ramsey and don't Want me to talk about him but the Problem is guys I understand first of All that he has helped a lot of people Get out of debt or rather I mean let's Be honest he's helped other people help Themselves something that I want to do I Want to be able to afford actually to Help people like genuinely help people But the thing is guys there gets a point Where you have to stay time out what You're saying is very wrong and very Dangerous and so that is exactly what We're going to do today I want to tell You guys I'm TR I'm G to try out of Respect from my subscribers I'm going to Try not to get spicy but I'm going to Tell you guys the things that this man
Is saying insane I mean have a Difference of opinion that's fine but When you use the wrong data constantly Use the wrong data over and over and Over again to push a financial agenda It's wrong it's wrong because it's not True at least that's my opinion and I'm Going to tell you guys this right now Okay and I already know what's G to Happen Dave Ramy again is going to try To copyright strike this video and I'm Going to say once again I'm GNA fight it Okay maybe third strike is a charm for You I've already had them try to give me Two copyright strikes I know it's They're going to try to do a third but You guys want to know something I don't Care because we're going to get right Down to the bottom of what he's saying I Mean this is a man with hundreds of Millions of dollars and hundreds if not Thousands of homes under a portfolio he Doesn't know what he's talking about Okay in my opinion this is all just my Opinion keep in mind this is just a Reaction video but either way let's dig In interest rates started going up and The market started slowing down Dramatically uh about 15 or 18 months Ago and we did a live stream where I Very emphatically said the real estate Market is not going to crash values are Not going to tank and here's how I know That and I went through several data
Points on the air and we had several Hundred thousand of you watch that live Stream and we covered some of that on The air here to let you know that the Real estate market values were not going To tank because a whole bunch of people Were really upset that interest rates Had gone up they felt that they that the System had cheated them and they were Not going to be able to buy a home they Were frozen out of the Home Market and They would sit on the sidelines and wait On the real estate market to crash and Go down in value And I explained to you why it was not Going to go down in value and it was a Very simple proposition except I went Into great detail I'm not going to do Right now but basically it works like This when there is a shortage of an item It's called Supply demand curve in Economics if you had a decent economics Class in the seventh grade you learned This okay the supply demand curve works Like this when there is an over supply Of an item versus the Demand more more if you got a glut in The market if the if you can get them Anywhere easily there's not a shortage Prices go down okay so that's a fair Explanation kind of I guess of the rules And laws of supply and demand but the Problem here is is we actually have had Prices go down even though we have had
Historically low inventory I'll show you Guys that here in a second Before I show you guys that data that We've had prices down especially with New homes I first want to explain what I Believe I was cheated as an American I Do believe I was cheated for sure by the Federal Reserve by the PPP fraud that People didn't need by unemployment Benefits going to people that could have Got a job but the unemployment benefits Exceeded their salary causing more Inflation I'm upset at the deficit Spending that's going on right now and In 2023 it exceeded any year the GFC but Yet 2023 was a Great economy I'm upset about Institutional investors buying Affordable housing and turning them into Rentals at our cost I'm also upset at The overwhelming amount of fed money Printing that's going on and the biggest Thing of all I'm upset and I feel Cheated that I got locked down and all Of this stuff happened just to be clear Dave so when you're making fun of me or Anyone else that believes that we were Cheated actually understand that's why Now we understand that you are a multi Millionaire and you have no idea no Inclination whatsoever what it's like For the 99% of us that aren't filthy Rich now let's take a look at price Decline because remember he said we
Don't have the inventory so prices are Just going up take a look at this and And again I'm showing you guys this Because you can't make blanket Statements yet about the housing market It differs now here's Austin Austin's Down year-over-year 3% and they have low Inventory and that's not even from Peak You guys Austin's down from Peak over $100,000 it peaked at $669,000 back in May of 2022 so sorry Ramsay you're wrong at least about Austin in addition to that let's take a Look at Jackson Mississippi again you Can't make blanket statements Ramsey you Should know better than that you have a Whole giant production team how do you Get that wrong Jackson Mississippi is Down 37.5% Mr prices never go down 37.5% that's just year-over-year you Guys I'm just showing you year-over year This isn't from from Peak it's way worse Now what about the retirement town right Retirement towns are solid right the Carolina are solid right no they're not The unaffordability is killing us Ramsay Look at this here's Myrtle Beach down 7.3% year-over-year again down 7.3% year-over-year it's worse you guys From Peak look at this here's another One this is Birmingham Alabama down 4.7% year overy year but look at this You guys he got this he's not
Acknowledging this median sales prices For new homes sold in the United States Plummeted it has been plummeting the Entire year of 2023 now a lot of people Are it's just inflation but from this Point in October of 2022 to right here April of 2023 that is the biggest price Decline and during this period of time Houses got bigger not smaller if you Want to find out for yourself just look At the size information and match it up To price decline and you will see for Yourself my point is is nothing he just Said applies to new homes what he's Talking about is existing homes Specifically on an overall on a Nationwide average when we go into Localized data we see a completely Different story I'm not saying that the Housing market has crashed from my own Definition of Crash but I'm certainly Saying it is in the process of Correction price Discovery or crash it's Happening it's going to happen and it's Going to happen on average maybe it Won't hit every metro area maybe it Won't hit every metro area but it's Certainly going to hit most every metro Area let's go back into the video prices Are going to go down on houses during That time I said that 18 months ago told Everybody that Dave that that video is Not going to age well after the crash You're going to have to come back and
Tell people you were wrong well instead I'm here going na na na na I freaking Know what I'm talking about you know What interesting especially considering That he knows what he's talking about Dave Dave Ramsey take a look at this Guys this is the big picture Okay so This what you're looking at here Includes new homes and used homes what Happens to a new home once is sold well It turns into an existing home so I say This information although I don't talk About it often because I like to look at Multiple data sets this data set right Here no bull can explain properly you Guys this shows a massive Mass massive Decline so I would like to ask Dave Ramsey being that he's so you know Arrogant and being that he's so ignorant And has a huge ego and he's so smart why Are you so wrong that's my question why Are you so wrong when we look at the big Picture on a quarterly basis there has Been no recovery on a quarterly basis When we take all data in the housing Market look at that so you can fairly Say when we look at the big picture this Guy is out of his mind let move on press Average interest rates for 15year fixed Rate mortgages are at 6.16% right now down from seven and some Change just a few weeks ago so this guy Just said the 15-year mortgages a few Weeks ago listen to that again 15-year
Mortgages a few weeks ago were in the 7% Who's giving him this data is he just Who who's giving this data let me show You guys the last time a 15-year loan Was in the 7% it wasn't 3 weeks ago it Was November of 2023 it was over 4 Months ago not three weeks and it was For a very brief period of time it went Straight back down into the 6% you guys This guy's out of his mind and right now Today the average 15-year fixed rate is According to Freddy Mack is 6.06 so this Guy again what's he talking about why Would he say 3 weeks ago when it was Four months ago let's go back in time High Prices went up they didn't Crash you were Wrong they went up to an all-time high Of 379,000 that's the median home I Don't even know what to do at this point Here's the thing you guys prices are Down right now we are not at a median Sales price record we are not and we did Not hit it at the peak in 2023 again I Don't know what he's talking about all I Hear is fear of missing out go buy a House right now let me show you the data Okay so here's us existing home median Sales price so again it's down right now So it's 384 500 and that's off of a peak Of 20 in 2023 of 410 so they did go down Hello D what is this guy talking about And look at you guys here's the other
Peak I mean anyone could access this Here's the peak here's the record my Mouse is over the record median sales Price for existing homes sitting at 00 and then it went down like crazy Rebounded also like crazy and it got to 410 we did not hit a new Peak and from That Peak houses went down in value not Up in value Dave For the Love of All That's holy please pray to start getting Things correct contract in 17 days and They were at 27 days so they're selling Faster so they're selling faster right So homes are selling in 17 days right Now you heard him say that right it went From what was it 20 some to 17 days is That right that's what he said let me Show you the data I mean y'all just Don't get it this is from Redfin this is Recently updated you guys the Doom right Now days on average 38 it's 38 you guys It's almost the same as 2023 you could See that here but it's higher than the Last two years we're sitting at 38 days You see that here's the data I'm showing It to you unlike Dave Ramsey you know What honestly if Dave Ramsey wants to be Transparent link the data Dave Link the data so we can review it for Ourselves and we don't have to listen to You and your nonsense sorry guys I know Some of you love him it's just what Happens when someone buys a house just Because they listen to him what if they
Were in Austin Jackson Mississippi Birmingham what if they purchased a new Home at the peak and now they have no Equity because they listen to Dave Ramsey that's why I get upset their Financial life is now ruined you're out Of debt you have your down payment You're ready to go and the only thing You're waiting on is you're waiting on The real estate prices to come down or The interest rates to come down don't Wait go buy a house right now if you're Ready because the prices aren't going to Come down and if the interest rates come Down you can just refinance you know Guys it's so wild to me that someone That is apparently allegedly such a Great guy in finances fails to Acknowledge how expensive it is to Refinance even if if you can refinance What he's not saying and this is so Slimeball if you don't have Equity like Any of those metros I showed you and a Whole bunch more new home all this other Stuff you can't refinance you don't have The equity to refinance and if you get Into a negative equity situation you Can't even sell this guy's out of his Mind and again look at the amortization Schedule on the left column here you Guys see this is all the interest you Pay in the first year this is on a loan Amount of 375,000 you are front-loaded With interest and so if you refinance
Say in five years you got to start all This over again and all this interest You just paid $125,000 in interest guess What you paid it for no reason because You got to start the amortization Schedule all over again you guys again I'm not trying to beat this guy up but It's absolute garbage what he's saying No caution whatsoever so here's the Thing median house price alltime high in History wrong right now wrong do I do I Have to show you guys again right this Is the second time he said that I just Showed you guys median sales price it Will be linked in my description please For the love of God if you hate me Because I'm talking about Ramsay please Check the data for Yourself please get the house paid off Go to Ramsey solutions.com get you a Ramsey trusted agent to buy a house or To sell a house right now and quit Believing all this fear-mongering bull Crap that's out there yes because it's Way smarter to trust someone that Benefits from what they're saying what I'm saying is is the channel his entire Empire is a one of the things that is is A lead filter system this guy gets Rich Crazy Rich from selling information from The people that complete his course so Don't forget that you guys here it is Right here oh my god look it oh well I'm Gonna link this as well please for the
Love of God I know you I know people are Going to be mad at me I know I'm going To lose subscribers I'm going to get Down arrows but you know what to all Those people did you look at the day Did you check what I was saying here it Is right here look Ito this is two Agents this is from ramsy trusted close Four times more with ramsy real estate Leads join the only referral Network Endorsed by Ramsey and work with uh Phone verified leads who expect your Call and want to work with an expert They can trust but how do you know You're going to trust them they're Selling the lease apologies apologies I Get you I just get so upset you guys you Know I'm sitting over here I'm trying to Help people for free I'm losing money I'm I'm struggling just to afford to Live because I refuse to charge people Money at the bottom that really want to Grow and learn and that costs me money So when I see this type of crap going on Where people get filthy Multi-millionaires from misleading People while this whole premise of I'm Going to help you get out of credit card Debt so you can trust me is horse Manu Again if he cared about transparency I Wonder and I would ask you Ramsey if any Of you or your team is listening why Aren't you linking the data and Ramsey Why are you using the wrong data why did
You say we have a new median sales pip Record high right now why did you say That when we don't why did you say that Uh three weeks ago the 15-year mortgage Was in the seven perents when it wasn't Why are you saying that home prices Never go down when they do and if if you Don't want to talk about the GFC what About the Great Depression you forget About that you forget about the Great Depression buddy either way you guys Here's what I want to say you don't need Him to get out of debt you yourself can Get out of debt generally all we have to Do is make a decision to improve our Life and spend our money with a purpose And I really hope that by watching my Videos I'm not charging you for any of This I hope you guys are growing and Empowering all of the data is going to Be linked below I'm sorry I got a little Spicy I tried not to it's just it drives Me crazy because here's the thing Generally the people that enroll in Programs like this they're overwhelmed In credit card debt okay so they're Desperate and they're in pain and They're looking for hope the problem That I have with this type of Hope is I See the hooks being hooked into their Backs when they're turned and I don't Like it and that's why I get passionate It is what it is it's a free country let Me know how you think maybe I cross the
Line here either way I want to hear from You do you guys think I'm wrong am I Just overexaggerating I mean we got data This guy's huge I mean you know can we Just stop making money and just start Helping people and ask for nothing in Return except them growing can we do That I don't know but either way guys I Hope you enjoyed this video and if You're out there investing in real Estate you know I wish you luck and I Hope you win
