Houston Crosta
π€ SpeakerAppearances Over Time
Podcast Appearances
So like people are willing to pay up for things that they already know that they have it sold when they get it and they're willing to pay nothing.
Right.
And the dealers are not willing to sell for nothing.
So it's kind of like a stalemate limbo.
Would you buy a new house right now?
I rent my house.
I don't want to buy a house anymore.
Right.
I mean, I had, I've owned homes in the past, but currently the house that I rent is if I were to buy the house, the 20% down that I would need to put down to, to, to be able to do the loan is
my mortgage would be 50% greater, including putting down 20% if I were to buy the house that I live in.
Wow.
So I rent it for 50% less than the mortgage without putting the money down.
So that money that I have, the 20%, it could go to work for me in the stock market and earn basically what my rent is.
So in my theory, I live for free.
But if my house was back to normal and we had, I'm cool with 5% interest.
I think when we went to threes and the low fours, I think that was really low.
And I think five is a decent number.
Seven, eight is impossible.
Whatever your mortgage is, let's say your mortgage is $20,000 a month.
At 7%, you're probably paying like $1,500 a month of principal and like $17,500 interest.