Steven

But the reason I'm doing it is because it's a safe, good place for my family to live. And I think generally that's the way to do it. And once people start thinking through the lens of, is this a good investment? Is this going to go up? Are home prices going to fall? Maybe I should wait six months because they're going to fall. That's when you're just, you're shooting yourself.

But the reason I'm doing it is because it's a safe, good place for my family to live. And I think generally that's the way to do it. And once people start thinking through the lens of, is this a good investment? Is this going to go up? Are home prices going to fall? Maybe I should wait six months because they're going to fall. That's when you're just, you're shooting yourself.

You're just rolling the dice at that point. And people get into a lot of trouble doing that when they're like, oh, I know I'm going into a ton of debt, but I think home prices are going to double in the next three years, so it's okay. That should not ever be part of the equation. It should be, I can afford this, and this is where I want to raise my family for the next five or 10 years.

You're just rolling the dice at that point. And people get into a lot of trouble doing that when they're like, oh, I know I'm going into a ton of debt, but I think home prices are going to double in the next three years, so it's okay. That should not ever be part of the equation. It should be, I can afford this, and this is where I want to raise my family for the next five or 10 years.

I think that's the formula.

I think that's the formula.

Here's what's interesting, like the psychology of housing too. We bought a new house eight months ago and sold our previous house. And that house, the house that we just sold, we did end up making a little bit of money on because Seattle real estate has gone crazy in the last five years. And really interesting something that happens. This is just eight months ago when we sold the house.

Here's what's interesting, like the psychology of housing too. We bought a new house eight months ago and sold our previous house. And that house, the house that we just sold, we did end up making a little bit of money on because Seattle real estate has gone crazy in the last five years. And really interesting something that happens. This is just eight months ago when we sold the house.

The day that we closed on selling that house and I got the proceeds wired to me in my bank account, logged in my bank account. I see that number from selling the house. The numbers meant nothing to me, but the house that we sold meant everything to me. It was like my daughter took her first steps at the bottom of those stairs. My son had his first day of kindergarten, Christmases, Thanksgivings.

The day that we closed on selling that house and I got the proceeds wired to me in my bank account, logged in my bank account. I see that number from selling the house. The numbers meant nothing to me, but the house that we sold meant everything to me. It was like my daughter took her first steps at the bottom of those stairs. My son had his first day of kindergarten, Christmases, Thanksgivings.

And it was like these numbers don't mean anything to me. These numbers are just going into the new house. But that house that I left behind meant everything to me. So that gets back to like don't think of it as a financial transaction. It should be this is where you want to raise your family and build some memories.

And it was like these numbers don't mean anything to me. These numbers are just going into the new house. But that house that I left behind meant everything to me. So that gets back to like don't think of it as a financial transaction. It should be this is where you want to raise your family and build some memories.

I have no memories of my daughter's first steps in my Vanguard index fund. That's really it. You are investing in a Vanguard index fund because you think you're going to make money over time, whereas you should not have that mentality when you buy a house. It should be within your financial means, but you should be doing it because it's a good place to raise your family for a long period of time.

I have no memories of my daughter's first steps in my Vanguard index fund. That's really it. You are investing in a Vanguard index fund because you think you're going to make money over time, whereas you should not have that mentality when you buy a house. It should be within your financial means, but you should be doing it because it's a good place to raise your family for a long period of time.

Yeah. That was true in previous generations because if you go back to the 1950s, 60s, 70s, we were building so many more homes

Yeah. That was true in previous generations because if you go back to the 1950s, 60s, 70s, we were building so many more homes

we are today that they were much cheaper even when interest rates were higher they were much cheaper and so the advice of hey you got an entry-level job you should go buy an entry-level house probably made sense in the 60s and 70s in a way that it doesn't today the other element here that is very easy to overlook in the housing problem the housing debate is that the homes that we found adequate in the 50s and 60s we would not find adequate today

we are today that they were much cheaper even when interest rates were higher they were much cheaper and so the advice of hey you got an entry-level job you should go buy an entry-level house probably made sense in the 60s and 70s in a way that it doesn't today the other element here that is very easy to overlook in the housing problem the housing debate is that the homes that we found adequate in the 50s and 60s we would not find adequate today

So Levittown in New York is like the prototypical example. That's when like end of World War II, build big, like build the middle-class community, build this huge new community called Levittown in New York. And that was like the typical white picket fence, middle-class home that we like long for today. And they were cheap, they were affordable. The average new house in Levittown

So Levittown in New York is like the prototypical example. That's when like end of World War II, build big, like build the middle-class community, build this huge new community called Levittown in New York. And that was like the typical white picket fence, middle-class home that we like long for today. And they were cheap, they were affordable. The average new house in Levittown