Is the housing market going to crash like it did in 2008? In today’s episode Kyle and I will discuss the similarities and differences between the 2008 housing market and the current housing market so you can make smart decisions.

Historically, home value increases over time, usually around 4% per year. This appreciation is closer to 18-20% over the last few years. There was a similarly large increase in home values before the 2008 crash, so it’s understandable that people are wary.

The big difference is that in 2006-ish, there were a lot of bad loans being made, a lot of predatory lending practices being used, and since then a lot of safeguards have been put in place. At this point, it’s probably not worth waiting for prices to drop because the current appreciation is based on supply and demand. Historically, even if you did buy your house at the height before a drop, it only took 3-6 years for the value to come back up so you could break even.

Education and planning is your best bet. Make decisions for the long haul, and stick with them.

Connect with Kyle:

Purchase Price Calculator: https://www.winthehouseyoulove.com/max-purchase-price-calculator

LoanClarity Advisor: https://www.winthehouseyoulove.com/advisor

On YouTube: https://www.youtube.com/c/WinTheHouseYouLove

Online: https://www.winthehouseyoulove.com/

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

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FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Welcome back to our last episode in this mini season with

Kyle, Seagraves talking all things, mortgages, home loans, and the market.

Kyle is a certified mortgage advisor, licensed loan originator,

and the owner of win the house.

You love a YouTube channel with over a hundred thousand subscribers.

Kyle, we have.

An interesting market right now.

I think we've had an interesting market for a while and we're watching

things change, I think, fairly rapidly.

So I know that a lot of people have compared what we're sort of

entering into or had worries about like, will the housing market crash.

Well, we see what happened in 2008 and I wanna just really dive right into, you

know, what are some of the differences between what the market looked like in

2008 versus what you're seeing right now?

Well, first I think it's helpful to understand.

Why is there so many of these questions around real estate?

I know that we throw around the word appreciation a lot, and I think

sometimes people don't maybe fully understand what appreciation is.

So buying house is interesting in that.

It's a place that, you want to have a nice backyard.

You wanna have a nice place to live.

You might wanna have a home office, you need a, a nice

place for your cat or whatever.

Like it's a place that you're going to live and enjoy.

On the other hand though, it's also, what's called an

appreciating asset in that.

You get to buy the house either with cash or take out a loan on it.

But the home value over a period of time historically actually increases in value.

And when it increases in value, uh, it appreciates that's.

That's what that's called.

So the historic appreciation over the past around 50 years is around 4% per year.

So every single year it goes up by 4% and then the next year, another 4% on

that value and then 4% on that value.

And over the past couple years, we've seen.

A pretty strong growth in appreciation.

Um, some are closer to like 18 to 20%, uh, kind of depends on different

markets, but 20% growth year over year, meaning that if you bought a home for a

hundred thousand, it now is worth 120.

If you bought one for 200, it's an worth two 40.

so this crazy growth that's happening, that's causing people to kind of get,

in reality, not be able to afford homes as they continue to, to increase.

And so this is something that we saw.

similarly we saw this kind of price growth before the 2008 housing crash.

And so this is allowed a lot of people to start thi feeling like, oh my gosh,

we've seen this before the last time.

This amount of crazy growth happened.

Everything fell out.

And there were job losses and people lost a ton of money in retirement accounts.

People lost their homes, they got foreclosed on and it caused this

big financial shift that took a long time for people to recover in.

And it's a little bit of one of those things of, we're

just looking at one number.

We're just looking at price growth, and then correlating them with, well,

it crashed one time with price growth.

And so now it's going to crash again with price growth as.

And that's not necessarily true.

Uh, what happened in kind of around 2006, ish is you had a, a

financial market that was not ideal.

People were making.

Really bad loans, really bad mortgages, and then going off and

selling those to other people for a premium and they were risky.

And, and basically it set up the entire economy, uh, in a state

where it was just a house of cards.

All it took was one thing falling apart for the whole thing to bottom

out and really a big culprit here was predatory lending practices.

So things like, uh, stated income loans where.

You used to be, just be able to say, yeah, I make a hundred thousand

dollars and they would let you get approved for a loan for that.

Now you actually have to prove with quite a bit of documentation that you

actually make that kind of money, or things like adjustable rate loans,

where it might be fixed for a period of time and then adjust after that.

So there are people who they could qualify on the lower rate

of the adjustable rate mortgage.

But then, after that rate expired, their payment shot up because interest

rates went up and now they couldn't afford the payment and had to foreclose.

Now that mortgage world is completely different than what we have now, after

that caused a huge, like rippling effects throughout not only the us economy,

but the world economy, then there were a lot of safeguards put in place

to say, we're gonna have to tighten down How secure these mortgages are.

And that's why if you go through the mortgage process now it's kind of

confusing and overwhelming and a little bit terrifying because so much of the

information that you provide gets checked and verified through rules like ATR,

which is the ability to repay meaning the, the lender has an obligation to

make sure you can actually pay back this mortgage over the likelihood of the time

that you're gonna have the mortgage.

So the fundamental, like loans that are being put out are

completely different here.

So then the big question is like, okay, well, why are we

seeing these price raises?

We saw the price raises then because access to debt was so easy and it

was so easy to get into a home.

and because you could do that and you had, people basically saying, well,

I can write down whatever income.

And then the interest rate is really low.

The payment's really low.

I can afford that.

home values go.

Because people are like, of course I can afford this million dollar house

because the interest rate in the beginning is super low and I can afford

the monthly payment and that's it.

But that, wasn't the reality of the situation right now.

What we're seeing is a fundamentally different change

in why there's appreciation.

So there's home growth, appreciating both in, you know, 2006 and now, but

there's different reasons why, the reason why we have such an intense

growth right now really goes back to the basic equation of supply and demand.

Which is, there are a lot of people looking for homes, really high demand,

but really low supply of homes.

And that's why home prices have increased.

But I don't see the shaky financial fundamentals beneath,

like there was in 2006 to two,

I think the big difference, um, that I've seen as a

buyer, cause I bought in 2010, I bought a foreclosed home and I know that there had

already been some changes to the industry at that time, but it's just, it's wild.

I mean, we had.

I'm 32.

We had what the.com burst in the very early two thousands.

And then we had that big recession in, you know, what, 2006 to 2010 ish give

or take, And so I think so many people now that have lived through that that

were kind of, of millennial or gen X age, even keep waiting because in our

history, our, you know, which is so short, historically we've seen home

prices drop, you know, they hit a peak, they drop and everyone's just sort of

waiting with baited breath to be able to, you know, buy the dip, so to speak.

And from everything that I've been reading and everything that you just talked about.

And for a lot of the reasons that you stated.

It doesn't seem like we're going to see some big, you know, plummet and home

values for a lot of different reasons.

And so I think like you've talked about, there is an opportunity cost to an extent

to not getting into the market sooner and especially with, home values, continuing

to appreciate, um, whether they continue to appreciate at the same pace or not.

They're still normally in appreciating.

Thing for you to be owning versus like buying a car or something

that in normal terms normally would depreciate, um, cars are normally,

you know, depreciating asset.

However, the last, what year and a half, two years we have seen that kind of

flipped on its head, which has been wild.

Yeah.

I'd never thought I'd see the day where you could buy a car and sell it a year or

two later for more than you purchased it.

But, you know, yeah.

I.

Keeps me on my toes.

So I think when people are talking recession and we're seeing, you know,

some changes, especially with inflation and with the stock market and there's,

you know, uncertainty, I think that one of the areas that we can kind of

be certain will continue to appreciate maybe at a slower rate, would be.

And so I think for a lot of people that are waiting to buy the dip, I and Kyle,

I think you would agree with this.

If it's something that you're able to afford and you feel

confident about making the move.

I don't think continuing to wait for a year, two years, three years

is going to benefit many people financially in the long run right now.

Yeah.

And if, if it helps anybody, like I'm buying house, like

I'm closing, uh, on the 17th.

And I wouldn't be doing that if I thought everything was gonna fall apart.

Right.

Um, yeah.

And, and, you know, we saw this, in 2020 as well, when, when the beginning of

kind of this steeper increase in home appreciation happened where people were

like, there's no way this is sustainable.

Um, I am, I'm gonna wait.

And they waited out two years and now they can't buy house.

The house that they were looking at buying has now increased by 40, 50, 60.

A hundred thousand dollars over that period of time, which is insane.

Like I have a, I have a friend of mine.

He bought a, a home here for one 30 and within three years, uh, he just

sold it with a cash offer for two 80.

And so like, you're seeing just crazy appreciation and this

isn't in every single market,

Right.

so far the people who have tried to wait out things haven't

seen very much for return and, you know, what's, what's really interesting too.

is, thinking through like, not only what are individuals doing, but what are the

people who have a ton of money doing?

So what are all these investment firms doing?

What are like local investors doing and they're buying, right?

Like you have these huge companies purchasing up more and more and

more residential homes, homes.

First time home buyers should be getting corporations are going out and saying we

will absolutely pay the premium for it.

If they're putting billions of dollars into investing into primary,

you know, uh, single family homes.

they feel like they're going to earn money on that.

And what they're doing is they're gonna turn those into rentals because, uh,

they know the demand is gonna continue increasing and they can make more money

renting than they can just selling it.

But you know, this, it's a really interesting from the psychology

perspective, there's a, a really big channel on YouTube.

That's grown a lot quite recently.

And a lot of the narrative is around this, like housing crash is gonna happen.

And this person's been talking about a housing crash for the past two years.

So at some point you're gonna be right.

If you keep saying the same thing over and over and over again.

I'm more in the stance of like, I don't know, we don't know

what the future looks like,

but what's interesting is this person keeps talking about a housing crash,

but his underlying business model.

I will show you cities to purchase investment homes in right.

It's scare first time home buyers.

So investors can come.

and people don't realize what they're being told.

They think they're the main audience.

They're the, and so, but they're getting scared out of buying.

So it's easier for investors to come in.

It's it's a pretty like insidious model when you actually look at

it, and this is happening a ton where, I keep seeing people, they

talk about it because it triggers.

The that like fight or flight in us, it triggers fear and, you know, money is

such a, a core emotional thing to us.

And we've talked quite a bit about like managing some of the

emotions that come up and the, thoughts that we have around money.

Um, but like people will really play on these things.

But then when you actually look at what are they actually believing about this?

it's none of it, like I was on that person's website the other day, and

I saw one of their testimonials that they have highlighted on the homepage.

You know, the whole channel's dedicated to like, housing's gonna crash.

You shouldn't buy a home.

And right there on the home page of the website is a testimonial saying,

thanks so much, you helped me.

I wasn't sure, but I, after talking with you, I felt cuz he does consultation.

After talking with you.

I felt confident moving forward with buying my first.

So

Right, right.

Oh my God.

to get the attraction, I'm gonna talk about housing crash, but when

I actually do consulting with you, I'm gonna suggest that you buy It is wild.

Yeah, no, absolutely wild.

and that's also on anyone that's consuming content, right.

I think in this day and age, and this is kind of, you know, a tangent, right.

But I think in this day and age, when you're consuming content, I think it's

so worthwhile to do your due diligence.

Like how are they making their money?

Is there a vested interest?

Is there a bias.

Cause there there's going to always be something, but it's

just, are you aware of that?

Can you take that in into consideration and then make sure that you're looking

at whatever information you're consuming through that lens, understanding that

someone's probably trying to sell you something or provide information

and like, yes, there's free content.

All of us put free content out, but we're also putting

free content out and running a.

So like there there's a purpose for us being in business.

And I think being aware of that and not just hopping in and being

like, oh, I'm not gonna buy a house.

And then yeah.

Making your money off of kind of the antithesis of that is, is wild.

and I think that's a good point too, Kyle though, with the.

Discretion of like, we don't have a crystal ball, right.

Something completely unrelated that we're not like we didn't

predict COVID necessarily.

I mean, some people would say that they did, but like we didn't expect it to have

the wide lasting impact that it's had.

There could always be something, um, there's always risk that goes along.

I think with any investment that we make with any choice, any big decision,

leaving a job, changing career paths.

Um, and I think it's just, are you comfortable with

that risk that you're taking?

And for me.

A market will normally recover over five to 10 years.

If I'm looking or I could comfortably stay somewhere that I'm looking to

buy for five to 10 years, I have a lot less of an issue with buying.

And in the meantime, I'm at least paying my loan down.

So even if I had to leave and I had a little bit of a, less of a profit than

I'd planned on the hope would be that I could still get out of it without,

without having to bring money to close.

Yeah.

Yeah.

And that's a, a great point because I think for a lot of people, the, the trauma

kind of comes from the 2008 housing crash.

When we actually did see a big decline in, um, home values.

But you you can Google right now, Fred F R E D uh, it's

federal reserves economic data.

I think that's what this stands for.

Um, so Google, Fred median home price, and you can see what the median home

prices have been in the us historically.

And if you look.

2008 home prices, right before things dropped out.

If you bought a home at the height of home prices, right before that

crash home prices would've declined and then they would've gone back up.

So they declined for about three years and then went back up over the next three.

If you waited six years.

You would not have lost any money you would've broke.

Even the home, same home for 400,000 would then sell again for 400,000

in six years where you lose money is actually when you end up selling what

happens is people get scared cause the price drops and then they think, oh my

gosh, I gotta get out before it goes

too low.

And it kind of, it's a classic, uh, investment saying, which is like,

don't try to catch a falling knife.

Like you're gonna get hurt on the way down.

Uh, like we, we don't actually lose the money until we.

To be fair.

Like there's tons of other things going on.

People were losing jobs, being laid off, all these other economic impacts,

which is why we talk a lot about, you know, having an emergency fund

and not buying something all the way.

at the top of our budget or going with a 30 year mortgage instead of a 15, all

these extra layers of risk, protection and management that we can add in there.

We've only had in the past, I think a hundred years, it may,

might have been more than that.

about three drops in home prices.

Two of them only were, it took three years to have a dip in recovery

where if you bought at the height waited three years and then sold,

you would not have lost any money.

You would've broke.

Even 2008 was six years.

And then I think we had one more.

I can't remember which data it was, but it was three years, but it will, you

can see it in like the Fred data, that little chart dips down, you'll say it's

three years, six years, three years.

and so for me, that gives me a lot of confidence cuz I had that fear

of buying too where I was like, man, well, what if you know, home

prices are growing a lot and we're.

Data that shows us there's it looks like we're flipping into a buyer's

market where buyers have more control, but just because there's a buyer's

market does not mean prices go down.

It just means prices begin to stabilize a little bit more, going

down is actually pretty extreme and isn't super common historically.

And so for me, what gave me a lot of confidence was like even

in a market where there was like predatory lending that we now have

safeguards that don't exist anymore.

That was six years.

If home prices decrease, can I stay in my home for six years?

I I'm pretty sure I can do that.

if I need to.

So I just don't see.

I know it's really like salacious and these headlines are so like,

they really trigger that thing.

I just don't see any data that actually would show me, like things are going to

bottom out and it's gonna cause a huge.

Problem.

I think if we're gonna run into problems, it's gonna be larger

economically and not just specific to

the housing market and larger economic problems.

We're all screwed.

If those happen anyway,

, Katelyn Magnuson: right.

And then is it really gonna, yeah.

is that really gonna be your biggest concern?

Well, and Kyle, I know we talked about, but you reminded me with, we

see that happen with stocks, right.

Or investments so many people pulled out during the collapse, you know,

in 2008, Give or take somewhere around there for the same thing.

Right.

They were like, oh God, I wanna pull it out because what if it gets worse?

Whereas for a lot, and again, there are caveats to this, right?

Like if you were of retirement age, if you were Dr.

Actively drawing on that money, there are a few very, very few.

And even then I still think holding it would've been beneficial, but for

some people that is the only money that they had for a lot of us that

were under the age of, you know, needing to use that in the next 10.

It showed that the people that had withdrawn their money, I was reading

a study, I don't know, a couple of years ago about it, but it had showed

that if they had just left it there and the people that did leave it

there, the funds had fully recovered.

God, I wanna show you, I think it was in six years, six or seven

years, like fully recovered and actually exceeded prior values.

And so instead, and we were talking about.

You don't actually lock in the loss until you cash your funds

out, you take your money out.

Same thing.

You also don't lock in that, you know, gain or that appreciation or that

return on investment until you cash out.

But it's still, you're cashing out like one of the worst possible times.

If you can afford to just hang in there, like let it sit,

check your funds less often.

Uh, that's something that like I was reading in the psychological hit that you

take when you watch your investment value.

Is so much stronger than the, you know, psychological feel good

when you see it have an uptick.

And so some really common advice that I stand by.

To not check your investments more than once a quarter, if they're kind

of on like an auto auto invests auto, you know, rebalancing because you're

in it for the long haul anyways.

So should we really be checking it regularly?

Should we be looking at it all time?

And I look at it for the most part with at least with my primary

house, um, very much the same way.

I'm, it's an investment.

It's a medium to long term investment.

The value of the house will fluctuate over the next few years.

Am I comfortable weathering those.

Yes.

Yeah.

It's like the, the amount that you check it needs to correlate

with the timeline of investing.

If your timeline for investing is 20 years, then you should,

why are you checking every day?

The daily changes don't matter.

At all.

Yeah.

and you can't control 'em anyway.

So if, if you ever needed to make decisions about things,

okay, those decisions can actually over a 20 year span.

You could make 20 decisions about your finances.

That's even, that is quite a bit to be moving money around

for long term investing.

Uh, and that's just checking it once a year.

Even if you pull it back to checking it once a quarter, like that's still

checking in on, on your money 80 times and potentially changing it.

Like that's, that's a lot to move money around for a long term investment.

And so, yeah, why are we checking

No, and I think it's such a human thing to see

it and to want to tinker with it.

Right.

You, you get in there and you're like, oh, I'm just gonna, no, just

leave it alone, leave it alone.

And that's, I, I think so much of that is we do the same thing with buying a house.

We do the same thing with making big life decisions, right.

And there's a time and a place, right.

You wanna make sure your finances check out.

You wanna make sure that you've, you know, crossed your Ts and dotted your eyes.

But part of.

and it's not like the sexy part of money, but so much of it

is just consistency over time.

You know, same thing like as you're investing cool, let's pick

an amount that we feel good with.

Let's regularly invest.

Let's pick our house and let's, you know, get a strategy for our

loan that works with our financial goals and just day in and day out.

You're just, it, everyone wants like a quick fix or get, you know, get

rich, quick scheme and sure people can have windfalls and get lucky.

All these, but like so much of it for the majority of us, you're gonna be so much

better off if, if you just stick with it and you're consistent and a little bit

boring when it comes to your finances and it comes to paying your loans down.

Yes, absolutely.

know, one, one thing I, I did wanna circle back to kind of the, a little

bit of the fear of the housing market stuff a little bit, that

just kind of popped into my mind, what's interesting about kind of the.

The headlines or a lot of the content around housing market crash stuff.

What I've realized and, you know, cause I primarily make content about

home buying is it's done a really big disservice to home buyers in a lot of

the stuff that we're talking about, this like fundamental education side even

about, okay, how are we investing money along with saving for buying a house

and how are we looking at our budgeting?

These topics aren't being addressed.

And I think it's actually it is a disservice to home buyers who want

and need to understand a lot of these fundamental things about their money

and buying a home and what their plan is for the future, because it's

all being captured by just the like kind of more click Beatty titles is

really disappointing because like, for me, I've kind of taken the stance

of like, people deserve to know.

All these fundamentals, no matter what the market is like, whether

it's easy or difficult, people still need to understand how an

appraisal works, how to solve issues.

When it comes in low, how much their down payment is, how to save

money in the best way possible.

And it's interesting that we're so addicted to, like, I want to keep

hearing about the thing, like the good news is we already know buying a

homeless stuff and the market is tough.

Like we already know that.

So why do we.

Hearing it over and over again.

The next best thing to do is like, since we already know the

market is tough what are the plans that we can take beyond that?

What can I actually do?

That's like tangible.

Can I start the next step of creating emergency fund?

The next step of paying off credit card debt of finding a side

hustle or finding a way to raise my income, by getting a raise.

What are the actual, tangible steps I can take learning about the buying process,

feeling more confident about the money that I have, uh, rather than just hearing

the same thing over and over again.

Well, and I think understanding what you need to have too,

because I think like you've identified so many times people think they need so

much more money or they need a higher credit score or they need something.

So like having an action plan laid out can make you feel, I

think so much less hopeless.

Because I see it all over TikTok all over the news.

We all do all over

Instagram.

You know it's just woes me and it's click baby.

And like, yeah, it's tough.

it absolutely can be depending on your market, your personal financial

situation, your goals, your student loans, like everything you have going,

but it feels at least for me, a lot better to be taking action towards something.

That's my goal, like buying a house was my goal.

I would want to be able to take action towards making that happen

for me for years, it was job hopping.

So I could bump my income up.

It was nailing, you know, a great W2 to help qualify, like all of these

things made it an easier process.

Yes.

Yeah.

the sensationalism of the market is kind of old news.

like you hear it once and you've kind of heard it already.

is that how that saying goes?

How's that saying?

Go, uh, like.

You don't need to keep hearing the same thing over and over and over again.

Uh it's like, well, okay, what can we do?

And, and a lot of that is really kind of just fully embracing

the reality of the situation.

I think for a lot of finance, people are either afraid of the reality of their

situation or just the external situation.

And they kind of get paralyzed by it and saying, well, the market

is tough, so I can't do anything.

Yeah, but what's within your control to do like, okay.

The market is tough.

All right.

What am I gonna do about that?

Am I going to sit and just be paralyzed by it and expect

that some change to change me?

Or are there things that I can do within my control?

And maybe you're like, you know what?

I can't buy a house with these prices.

I can't say for a down payment that quick.

Okay.

Well, there's so much more that we can do to become more healthy financially

rather than just buying a home.

That's not the pinnacle of financial success.

right.

So it's like, okay, well what's within our control.

Is that a goal we still wanna work towards in the future?

And are there other things that you can set up in your finances in the meantime,

if you're not able to move forward with buying a house at the moment?

I think too, and I, I'm not a huge proponent of

just find a cheaper place to live.

Great.

That might be an option for some people.

Right.

But it's also then potentially raising values in the area.

Like we've seen that happen here in the Boise area.

Right?

Our market is like, I think they said it was 70% over inflated or something.

Absolutely ridiculous.

Especially for the average cost of living here, I think so many of us, and

I think I've encountered this a lot.

I don't know if you have, but being a woman in her now, early thirties, there

have been a lot of expectations pushed on me having kids, getting a house, you know,

doing the very standard domestic thing.

And I think for a lot of us unpacking, what's expected of us versus what

we actually want is something that we should all be doing, especially

before making large purchases like buying a house because I know.

A couple of people that have bought that.

It wasn't for them, they'd way rather rent they'd way rather have, uh, an RV

and travel part of the year and then have that as their, you know, home base.

But if it's something that you want, maybe that does mean you job hop,

maybe it does mean you look for a more affordable area that meets what you're

earning, you know, potential is, or I don't know your thoughts on this,

but I've been thinking about it a lot.

Or you look to do some sort of, you know, co-housing setup or buy an

apartment complex with some people where you could actually like there's,

you know, there there's options.

I think that getting creative, especially when you're, you're in

a high cost of living area, but also just taking action every day.

Are you applying for jobs that have higher pay?

Are you looking for jobs that have the same pay that have fewer working hours?

Like there are things that you can be doing to increase your

earning potential and improve your financial situation while moving

you towards whatever your goals are.

Yes.

A absolutely because like, unfortunately the, the environment

around us, our external environment is not going to just change to make.

Easier to buy.

And it, I think that's what a lot of people are holding onto

is that like, if I just sit here, then everything is gonna change.

It's gonna be easier.

and I just don't really like to live my life in that way.

because I just haven't found that to be true.

Um, like there absolutely are, are tons of things in my life that like

have been gifted and are like, I feel like I'm in a very privileged

position, but at the same time, I can't just sit back and expect that

everything is going to be handed to me.

And so it's like, well, what is within my control to actually create

the first job I had, I would not be able to afford the house that

I'm buying currently if I had that.

So I said to, I knew in that position, like, okay, I need to spend the

next five years working towards.

Getting an income and building a business that actually allows me to pay

for a specific lifestyle that I want.

Um, and I, I think that is true for, especially in people in higher

cost areas of living where it's like, yeah, the, those markets are

probably aren't going to decline.

Um, and even if they do, they're still gonna be really hard to access.

And if that's where you wanna stay, like, okay, great.

But we have to figure out what's what can actually change, uh, in those situations.

And I think you, you nailed it too with like figuring out what do I actually want?

a friend of mine who, who bought the like one 30 house that's now worth like

two 80 or they just sold it for two 80.

they have like a, a decent size amount of land.

That's like an, an acre or two just enough to feel a little more private.

They kind of did the thing where it's like, oh, what everyone expects

of us the next home we would need to get, it needs to be bigger and

better, more land and more money.

And they, the house they were looking at was about half a million.

And then they, they came back afterwards and were like, after they looked

at it and were like, oh, we don't.

Actually you want that, like, we, this is what everyone else wanted for us.

And they kept saying, oh, it'll be nicer when you can afford an even more

land, you know, all these other things.

And then they were like, what we actually realized we wanted is a smaller

house and we wanna live downtown.

We didn't wanna have the land with the bigger house, with all the things.

We wanted, little space living closer to people that's much more afford.

Even though they could afford the half a million.

They're like, well, we want to go buy another house that's for one 70.

Um, and so it, it is just interesting to see when you actually

do come back in alignment with like, what do I actually want?

no, and I, I don't think that happens enough.

I think so many of us just kind of blindly hop from one societal familial,

you know, friend expectation to the next, without stopping to think.

And I think with the high cost of living areas, there are also ways.

That you can, you know, modify what you want.

Cool.

You want that, you know, three bedroom penthouse in wherever, why don't we

start with a studio that you can buy?

Why don't we start?

Like where, where can you start?

Where can you get, you know, two millimeters of the way

towards what you wanna be doing?

Because I I've been guilty of this for sure.

Being like, well, I want this, but my budget is like a 10th of this.

Where can we start?

Where can it be appreciating?

Where can we just.

Also figuring out if that's what we want, if we wanna be living in that area, if

we like that lifestyle, if we like that type of house, because where I live and

the property that we have and the chores that go along with it and the maintenance

and the upkeep are not everyone's dream.

Some people don't wanna have to maintain a yard and have outside

chores probably every other day that have to be done or they just build up.

But for other people, that's, you know, they wouldn't wanna do anything

else and they'd feel stifled in a.

Yeah.

The, and the one is so much sexier in our head than it is in reality.

because, I mean, remember, think of about the last time that you were

like, oh, I really wanted something.

And then you finally got it.

And that was exciting for maybe like a week, maybe, maybe even

like a few months or a year.

And now it's kind of like, oh yeah, that was, I'm kind of done with that.

And I moved on, I, I think the same thing can happen with housing too is

like a lot of people like wanna joke about, uh, you know, date in Ohio.

Like that's where I live.

It's like a smaller Metro area, but I really like it.

It's a fantastic speed for me.

And only an hour drive from two even bigger cities.

And the cost of living is super low that I can go travel wherever I want

to.

And so I think a lot of people, like I would try those things.

First of how can you get the little snippets of the lifestyle that you want

without actually having to live there?

Like for instance, I, I like big cities.

I like going to big cities and exploring them.

And so I thought, well, if I like big cities, I need to live in a big city.

And I thought that for so long.

And then, uh, I , I've had a, you.

Obviously been to cities and like spent time in them for a little bit.

And I remember like a couple months ago I went on a trip, uh, to, uh,

even Cincinnati, like not even a huge city, but stayed the night there.

And then I, after a few days, I was like, I'm done.

I don't wanna interact with anymore people.

I like I'm out of this.

I can.

And I remember thinking, like, I can't imagine if I

moved there with this thought.

And then regretted it because it was actually too much because what I like,

I like being able to visit cities.

I don't like living directly in the city and maybe this, the opposite is true.

Like maybe it's like, I like having more space around me.

Okay.

Are there activities that we can do in the place that you

live that's affordable for you?

That you can experience those more?

It doesn't have to be.

I don't have to live in a thing that I like all the time.

Right.

Like I like going like California is one of my favorite places.

I don't have to live there to enjoy it.

right.

Living here affords me to be able to go there

kind of as much as I want to.

Well, and probably have a better quality of life overall,

yeah,

too.

I think you're not having to feel stressed.

Yeah,

yeah, because the opposite would be like, my housing

would be so expensive there that I wouldn't be able to go anywhere else.

exactly.

You'd be stuck in the place that you like to visit and then it kind of can sour.

I think your, your feelings towards it.

I feel very much the same way when we travel.

I have zero issues staying in the city.

Like I wanna be walking distance, you know, get out, do all the things live

in the apartments, above all the shops.

I think it's great on vacation by about two or three weeks in.

and the third weekend of partying until two or 3:00 AM or later if you're

in Europe and it's like 6:00 AM and everyone's wandering home and I'm over it.

And I'm craving like the silence and the solitude and to not see

another human being for like three more weeks, but it is, it's nice.

It keeps it special for me to go do that.

And I think figuring out which environment you thrive in better, or which environment

you thrive in, that allows you to have the most balanced or well rounded life for.

which, like you said, you can still go do all the things because you have a

moderate cost of living with the majority of the amenities that you're looking for.

mm-hmm . Yeah.

Yeah.

And I think kind of an underlying theme of this episode a lot has been

really kind of just accepting what is.

You know, we might want to be somewhere else, uh, whether that's

financially or, with the house that we live in or whatever that is like,

but the reality of the situation might not align with what we want.

and that's okay.

Like we can work towards that, but it doesn't mean that we can't

also find enjoyment with where we're at or saying like, you know

what, I'm not where I want to be.

Maybe financially, I'm not where I wanna be relationally.

I'm not where I wanna be, but I can make steps every day to work

towards the things that I want and can still find contentment here.

Because if the contentment enjoys, always pushed out into the moment in

the future, and we do this all the time, whether it's, Well, I need to

get engaged and I need to get married.

Then I need to have kids or it's.

I need to have, uh, this house, I need to have the dream house.

Like we are always pushing the joy into the future.

You'll never, even when you get that thing, be able to

experience the joy because it's always gonna be, well, there was actually one

other thing I could add onto that to make me happy so we can work towards

the things that we want, but also be able to find happiness and joy in

working towards what we want in the.

absolutely.

I couldn't agree.

More and contentment and gratitude and being okay with the dichotomy.

wanting to change your circumstances, but also appreciating where you are

now, where you've come from and what you have accessible to you at this

current point in time, I think is so important because we've all done.

It.

We've all blown past that hit those goals, exceeded everything and.

It's just, it's boring now.

It's not exciting.

We've done it.

We've been there.

What's the next thing.

What's the, we see it in business a lot.

I think too.

Oh, I hit a hundred thousand.

Well, now it's a quarter million.

Well, now it's 500.

Are you actually doing what you wanna be doing?

Like, do you have a business that you like running?

Is it running your life?

Like

why, why are we doing it?

Is it just vanity metrics?

And we do the same thing in our lives.

Like, are we buying like your friends who, I mean, kudos to.

For taking the time to acknowledge that they didn't want the bigger

house, the bigger property, the bigger responsibilities, and taking

what some would see as a step back, but is really a step, you know,

into their more ideal lifestyle.

And that's amazing.

I mean, I think so many of us need to just pause and think and unpack all

the shit that we've learned or been told and just do what we wanna do.

And I think some.

I think it, it can be hard because people will, and I think it goes back to what

you said to Kyle and I, I don't know, two episodes ago, like don't involve everyone

in your personal decisions, right?

Like get the facts, decide what, and I mean, this goes for so many things,

but like become educated if you're not already educated and knowledgeable

in whatever you're looking to do.

Sit with it, make the decision that feels good for you.

And then cool.

Notify the people that like need to be notified, but live your own life.

You're not, you're not out here like being a sponge soaking in everyone

else's opinions and ideal lifestyles.

Cuz you're gonna end up with a

Yeah,

look like yours.

yeah, absolutely.

Love it.

Okay.

Well, Kyle, since this is our last episode in the season, it's in the notes, but

can you remind everyone where they can find you and learn more about the home

buying process and loans and everything that we've chatted here, but in a much

deeper and more flushed out level.

Yes, absolutely.

I have over 270 videos on home buying on my YouTube channel, uh, called win the

house you love and it's not a raffle.

You're not gonna, I'm not gonna, you don't enter anything.

I'm not gonna give you a house.

Uh, sometimes I forget that it seems that way.

Um, kinda the premise behind when the house you love is like, Hey, first of

all, we don't have to buy the dream house.

We can just buy in the house that we love at the moment.

Um, and then also you're competing against other home buyers.

And that's why it's important to arm yourself with the truth about your

situation and having more understanding of home buying, because the more

knowledgeable you are about your situation and about home buying, how

that works, how the mortgage process works, how you can put in a better offer,

the more likely you'll be able to win.

The home that you want, the home that you love at that moment against other buyers

who want the same house that you do.

So win the house you love on YouTube, or you can go to win the house.

You love.com.

Um, have a couple extra resources there as well.

I love that.

Okay, Kyle, thank you again.

Go give Kyle a follow a subscribe, a subscribe on YouTube, right?

Yeah.

Subscribe.

Like follow subscribe, do all the things over on Kyle's YouTube because

he has a wealth of information.

So thank you.