THE AMERICAN DREAM IS DEAD. OWNING A HOME IN 2025? | Let's Get Real Ep. 13

THE AMERICAN DREAM IS DEAD. OWNING A HOME IN 2025? F*CK THAT.

The "white picket fence" fantasy is BLEEDING YOU DRY. At $400,000 average home cost and 6.67% interest rates, you're looking at $3,000+ monthly for what exactly? A financial prison.

In this raw, unfiltered episode of Let's Get Real, we shatter the post-WWII propaganda that's been force-fed to generations. Owning isn't the golden ticket—it's financial suicide for most Americans right now.

Rent is HALF the cost. The math isn't complicated, but your emotions are getting in the way.

• Why home ownership is NOT for everyone
• The 7-year rule nobody tells you about
• How to actually live the life YOU want, not the one society prescribed

Whether you've got kids in diapers or you're a digital nomad, this is the wake-up call your wallet needs.

Drop the emotions. Face reality. Make decisions that actually serve YOUR life.

Watch now: https://youtu.be/d6sqrqT4H7Q More brutal financial truth: nobswealth.com

As always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!

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Episode Transcript

Stoy (00:00):
The American dream to own a home white picket fence, all

(00:03):
that crazy stuff that we alwaystalk about.
But is that really what weshould be doing in 2025?
Really?
Is that what we should be doingright now in this decade?
I don't know.
Let's dive into it.
So currently right now, theaverage cost of a home in
America is around$400,000.
I know a lot of people couldnever afford$400,000, let alone.
Trying to even think they canown a home.

(00:24):
Right.
So let's, let's talk about that$400,000.
What does that equate to interms of a whole mortgage?
Well, the average interest rateright now, as of whatever date
this is coming out in April, is6.67%.
Now, that is relatively low forthe average in the history.
However, pretty damn highcompared to what I have.

(00:44):
I have a, I think we have a.
3, 2, 5, or a 2, 2 9, somewherein there.
Now that's free money.
However, at 6.67, it is not,which equates to about a$2,700,
uh, mortgage payment, which doesnot equate for your upkeep, your
taxes, your insurance, etcetera.
So now we're talking about wellover$3,000 a month for a home.

(01:05):
Think about that.
Is that even feasible?
Is that doable?
Well, let's flip over to therent side.
Rent right now is tracking atabout half of that, think it's
about$1,300 for average rent,uh, in America now.
Hey people calm down.
You're gonna tell me.
Well, I live in LA and it's liketriple that and I live in middle
of nowhere North or South Dakotaor Montana, and it's way less

(01:29):
than that.
Yes, every everyone's area isgonna differ and we'll talk
about what your steps are totake action, but that's kind of
where we're at now, 3000 to1300.
Give or a take.
That's a very easy math andfinancial decision to make.
But now how do we fight theemotions?
And where did this all comefrom?
Remember you, you were raisedand everyone says, Hey, own a

(01:49):
home.
It's the best thing you can do.
It's the American dream, yada,yada, yada.
Well, that stemmed from postWorld War ii, uh, where we were
giving a lot of our, our GA's,uh, gis.
With the GI bill.
Um, FHA loans were coming out.
All of that was pushed to gethome ownership driven, back up.
Downside to all that, there'sstill redlining, right?

(02:10):
So think about that.
There's still the redlininggoing on, therefore, really it
was pushed for the whites andeveryone else.
Well, good luck.
Uh, you're gonna rent fromslumlords, if you will.
And so now we've got thisgeneration thinking, these
generations thinking, oh, I needto buy a home.
It's the best thing ever.
And I'm here to tell you it'snot.
I've said this in previousepisodes, think either on no BS
or even on Let's Get Real, andthat that fact is.

(02:32):
Owning a home is not the bestinvestment you can do.
It is not for everyone.
And I'm here to tell you why.
Why one right now it's moreexpensive to own a home than to
rent.
Two.
If you don't use the equity inyour home in the long term,
you're also gonna lose out onmoney and it's not going to be
worth as much as you think it isin the long term.
And three, what type of life doyou wanna live?

(02:54):
That should actually be numberone.
Let's back up.
That's just number one.
Number one, what type of life doyou wanna live?
What brings you joy?
What if you're a person that isnever gonna have children or
loves to travel, or wants tomove because of their job every
few years, or hell is in themilitary, can you really reach
down and just have roots plantedin one home that you're gonna be
there for more than seven years?

(03:15):
By the way, you gotta stay in ahome for about more than seven
years.
For it to, for you to get theappreciation and for it to make
financial sense.
Otherwise, it's essentially aloss lead.
So you tell me, are you thatperson or not?
You gotta determine that foryourself.
And there's a great tool outthere, nerd Ball.
It has one, it's a rent versusbuy calculator.
Pretty awesome, right?
You get to type in where youlive, you get to type in your

(03:35):
information, all of that, andit'll.
Spit out, um, a nice little rentversus buy calculator in your
area or the area where you wantto live at, so you can use
those.
The second piece is what, how doyou wanna live your life?
I know I pounded on that alittle earlier, but ultimately
you need to understand how youwant to live, not what others
are telling you, not.
You know what, maybe not even befinancially.

(03:56):
The best thing ever is you needto live, learn how you want to
live.
So if you wanna own a home,settle roots, build that whole
American dream that way.
Cool.
If you wanna rent, save yourmoney.
Travel.
Uh, buy expensive items, or noteven expensive items and just
rent and move more often, thendo that too.
That's okay.
And if you're one of my clientsor people that I give advice to,

(04:17):
ultimately I'm saying, yeah,let's go with the renting route
for now, it makes the most senseunless you are wanting to have
those roots in place.
Hell, my wife and I, we, we'velooked at moving to Hawaii.
Denver, um, Phoenix all overthere.
We did that for the last twoyears and it doesn't make any
sense for us to move from hereto Denver.
Um, where our best friends live,it would be double for a smaller

(04:39):
home.
Well, we got two grown boys.
We kind of need our, our room,but we all love to travel too.
We go to Hawaii almost everyyear.
We go to national parks everyyear.
The boys have sports and that'sexpensive.
And we travel all the time forthat too.
And ultimately we know that as afamily.
So we did buy, I would, if I wasbuying now, we started this
whole thing and journey.
Now I would rent.

(05:00):
However, we did buy, we got in alow rate and now we're not
moving because we are.
Kind of locked into that too.
And that's another point.
If you get stuck into your rateor stuck into your home, it's
very tough to get out as well.
So think about all of thosethings when you're thinking
about rent and first buyingspecifically in 2025.
Mind you, when this comes out,we may or may not be in a
recession.
Um, I'm gonna have to do a quickvideo on that at some point.

(05:23):
But just have cashflow,flexibility specifically right
now.
And the best way to do that isto rent.
Yeah.
Rental rental rates are going upas well, because they can, but
ultimately you need to have thatflexibility.
So you tell me, do you wannarent?
Do you wanna buy?

(05:48):
I could not imagine startingover right now, kids in diapers
and trying to figure out whereto live again.
Woo.