Your Income Will Never Keep Up with Home Prices
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 15 August 2023
⏱️ 50 minutes
🧾️ Download transcript
Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
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DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my |
| 0:13.9 | co-host, Danielle. Let's get right into this episode. Hello and welcome to the Ken McElroy |
| 0:19.3 | show. I'm your host, Danielle, here with Ken. |
| 0:22.6 | What's up everybody? We're going to be chatting today about home prices. But before that, |
| 0:27.0 | we wanted to get into our Twitter question of the week. I know Ken, you asked on your newsletter, |
| 0:32.8 | your whole newsletter, why it's going to college being worth it, you know, because it has gotten so much more expensive than when we went to college. And also, you have to think about the fact that how valuable is a college degree anymore. Well, there's a few things to consider. The first thing is it's extremely expensive. So, you know, I mean, we're talking, |
| 0:56.8 | you know, many friends that are in the hundreds of thousands of dollars of student debt, number |
| 1:01.9 | one. Now, I'm all for paying for something that returns value. I have no issue with that. So, |
| 1:10.3 | you know, I obviously, I do want physicians and accountants and, you know, people that, you know, are nursing. Yeah, I do want them trained. Right. Right. But, but they're, they're getting into these ridiculous amounts of debt. |
| 1:28.0 | And so the, you know, we have friends that are doctors that can't afford to buy homes because |
| 1:33.9 | they have three, four, hundred, five hundred thousand dollars of debt. |
| 1:37.7 | And, and, um, so, it's crazy, you know, you're not supposed to have a half a million |
| 1:43.5 | dollars debt from education. Uh, you know, you're not supposed to have a half a million dollars debt from education, |
| 1:47.6 | you know, so, so that's the question. And then there's a whole other subset of people, |
| 1:54.3 | you know, a polysci degree, let's say, let's just pick on that or, or, you know, some, |
| 1:59.6 | some really other basic degrees communications degree |
| 2:02.7 | even a marketing degree i mean marketing changes you know by the every few so you know are they |
| 2:08.2 | are they going to get you the big jobs to pay off of you know the debt if you're if you are in |
| 2:16.5 | dead if you're not then you're one of the lucky ones but that's kind of the point you know, the dad, if you're, if you are in debt. If you're not, then you're one of the lucky |
| 2:18.3 | ones. But that's kind of the point, you know, and I think back when I went to school, |
| 2:24.4 | the college degree meant something. In other words, if I was applying for a job and there |
... |
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