1 in 3 Young Adults Are Making This Housing Decision (Is It a Mistake?)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 15 July 2024
⏱️ 29 minutes
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Transcript
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| 0:00.0 | So one in three young adults are making this housing decision is it a mistake. |
| 0:12.0 | Brian I am so excited about this because we get to talk about things that are hard, that are difficult. |
| 0:18.0 | Sometimes in our financial lives, we have to make some really unique and interesting decisions and I love that we can lean into those and I love that we can lean into the questions that you have. |
| 0:29.0 | We enjoy that so much that right now we have the team out in the wings collecting your question. |
| 0:34.3 | So if you want us to answer your question, make sure you get it in the chat and we are |
| 0:39.1 | excited to load you up. So with that, Creative Director Ribi, I'm going to throw it to you. |
| 0:45.0 | I've got one teed up for you. Seeger asks, my wife and I both work full time and are currently |
| 0:51.6 | living with her parents to save up for a down payment on a house. |
| 0:55.7 | We can afford 3% down, but can also stay and save more. |
| 1:00.4 | I don't want to jump the gun, but being in our own home is a dream of ours. |
| 1:05.3 | How do we decide how long to wait? |
| 1:08.3 | Man okay so this one this one's unique and I feel like Brian tell me if you agree with this we're hearing this more and more a lot of I'm going to say young people or just people sort of early on in their life early on and like getting |
| 1:20.6 | Getting started are kind of faced with this this issue. |
| 1:25.0 | Hey, I've got this opportunity to live with my parents and is that a good thing? |
| 1:29.6 | Is it a bad thing? Should I do it? Should I not do it? And then how how long should I do do you feel like that's super |
| 1:34.4 | common now by the way do you blame them I mean interest rates being as high as they have |
| 1:38.6 | and housing running away from the prices are through the roof so I think that this is actually a creative kind of a financial |
| 1:46.2 | hack to save some money assuming you have a healthy relationship and this opportunity is out there |
| 1:52.3 | But I have to put a big butt and this is one of those |
| 1:53.3 | I have to put a big butt. |
| 1:55.0 | This is one of those things where you guys have heard me talk about it |
| 1:59.0 | because I love the math of money |
... |
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