Dave Ramsey says there is no affordability crisis

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Episode Transcript

Speaker 1 (00:02):
I don't know what planet Dave Ramsey's living on, but
it is not Earth.

Speaker 2 (00:06):
He was on Fox News and he was saying that
Donald Trump's economy is lifting the middle class again, and
he went on to say that there is not an
affordability crisis.

Speaker 3 (00:15):
Great's are down and gas prices are down below three
dollars in most places. The economy seems to be. The
people we're talking to are really not having huge, serious
affordability problems. There's a lot of talking heads, a lot
of squawking about that, but most of that's political.

Speaker 1 (00:32):
Okay, I guess I'm a talking head. But I also
shop at the grocery store. I live a pretty middle
class existence boat. My wife and I both make decent money,
but by no means rich. I live in a sixteen
hundred square foot ranch house on a third of an acre.

Speaker 2 (00:46):
Right.

Speaker 1 (00:47):
I drive a car that has no power, locks or windows.
I live a pretty, you know, live low life, right
in terms of I'm comfortable. I have a television, heat,
air conditioning house and can provide for my family. But
I'm not living the high life. And I will tell
you it is a swift kick in the junk. Anytime

(01:07):
you try to buy anything, and he sounds just totally
out of step with reality.

Speaker 2 (01:12):
Well, you have to keep in mind that Dave Ramsey
completely owns his broadcast company and in twenty eighteen his
net worth was fifty five million dollars, So you are
living a different existence.

Speaker 1 (01:23):
And I mean, God bless him. He's made his money, honestly,
and good for him, and by all accounts, he's helped
a lot of people, which is great. But I'm sorry
the middle class who And by the way, the gas
price stuff is what gets me. Gas prices are down
not because if anything Trump's done, it's because the economy
is restricting. The economy is war is worse off. There's

(01:47):
not a demand for oil for gasoline like there has been.
And thus if there's not a demand for something, what
do we know? The price goes down, right, which great?
You and I have jobs right now, work in radio.
Who knows tomorrow, but we have a job, so that
benefits us, right. It's cheaper for us to get to
and from work. However, other people it's horrible because they

(02:10):
don't have jobs to be able to afford to buy
the gas to go to work, like it just food rent.
All of this stuff is more expensive, and wages are
not rising in accordance with the price of everything.

Speaker 2 (02:24):
CBS News just came out with an article just moments
ago and they said that more than seventy five percent
of homes across the country are unaffordable. But Dave Ramsey
said that America's finally breathing again under real leadership. It's
only going to get better from here. One of the
pieces of advice that he says he can always tell
when a family is going to stay middle class is

(02:45):
when they have two expensive cars sitting in front of
a middle class home, often with big monthly payments. He said,
more cars equals more bills when you consider insurance prepares,
gas depreciation, and ideally what you want to have is
no more than fifty percent of your income tied up
in depreciating assets like cars.

Speaker 1 (03:08):
And look, I agree with all that, but the reality
is you got to have give people something to look
forward to right now. If you got two Mercedes out there,
and you know your combined household income is one hundred
thousand dollars, then maybe yeah, you're gonna be gonna be
pressing it. But I mean, come on, I mean, what
are we talking about? Nice cars? Right. I mean what
a lot of people have SUVs or whatever. You spend
a ton of time in your car. It's like making

(03:30):
your house dice. It's where you live, right. I just
like we shouldn't have to be making these choices in
this country. We should have to be choosing between, you know,
do this or do that. That's just not the way
it's supposed to work.