What NO ONE Tells You About DAVE RAMSEY… (Episode 106)

Hey gang. I have a love hate relationship with Dave Ramsey. Dave is great for debt, but horrendous for first time home buyers. The world has changed and his old school philosophies do not take into account the challenges facing millennials. Gen Z all the first time home buyers out there. But even he says in 2022 the time to buy your first home. That was yesterday. He says there's no crash and no bubble. That's right, Captain Conservative Dave Ramsey says the market is not gonna pop and the only the market to go in the next five years is up. Five years.

Now is a the best time to buy a house. In the next five years prices are not going to go down. The bubble that is there is not on the actual price itself. The bubble is on the rate of increase. That 32% is not. That bubble's going to burst. It already has.

Yeah, yeah, yeah.

It's already all the way down. Yet.

Congratulations today for being right. But today we're also going to discuss where his advice is dangerously wrong. For first time home buyers, it's Dave versus Dave round two. And if you want more housing updates all the time like subscribe ding that notification bell. What's happening My how to Buy homies welcome to the number one podcast dedicated to you, the first time home home buyer educating and empowering you with all those insider tips on how to buy your first home. I'm the other Dave, David Sidoni and for 16 years this has been my jam, my complete and total passion. I've been fighting with Dave Ramsey loyalists for I swear the entire time. Nothing new for me today. I've already been through this. In fact I did it once already on episode 69. But today is round two. This is not going to be a complete rag on Dave session. It's just a simple look at some simple math. However, I'm gonna get real today and it might not be so pretty. Damn. Dave has cost his followers hundreds of thousands of dollars by giving awful advice. He loves to claim that he loves real estate, but he hates debt more. And see where the problem is is that he thinks that your home mortgage, he lumps that into all debt and therefore his advice on how to buy it costs people big time dollars, especially first time home buyers because it is just not up to date with the modern economy and the high cost of homes combined with ridonkulous constantly rising rent prices. People still think he's the best resource to figure it out. When you're a young person and you're working on getting your finances together, There basically aren't a lot of good resources out there. So your options, they sort of suck. You've either got the big ball or wannabe influencers giving you investment advice, taking pictures of themselves in front of private jets, that's always awesome. Or you've got the super adulty high level finance from financial advisors speaking way over your head. Or you've got the super sketchy credit fix specialists, which straight up a lot of them are scams and you better be careful because they're trying to take advantage of you. You're already freaked out and kind of sketched out when you're trying to find financial help online. So then you start looking around, you start turning towards the first time home buyer resources. And guess what, your choices get even worse. It's newbies, rookies, part time realtors, or mortgage pros desperate for a sale and hoping that you can be the client to help them finally get a paycheck. Or even worse, to help them figure out how to actually do their job. So what do you do? Ah, you turn to reliable Uncle Dave. Dave Ramsey's over the top ultra conservative concept of no debt views a home mortgage as a debt and all debt is bad. And this is where bad meaning bad, not bad meaning good. This is bad meaning bad. This has cost his followers tens, even hundreds of thousands of dollars. How so? Well, it's a little something we call equity. See, Dave likes to play it safe. I call it old school, oversimplified. That's a great way for him to run a business, but not necessarily a great way to properly serve. So many of you out there that are just trying to figure out a way to dump your rent and it's cost millions of would be first time home buyers a chance to buy a home in the last 15 years in the right way. Dave says don't do it when you're broke. Dave says the average renter with the average $35,000 in savings with four credit cards at the average balance of $5,000 for a total of $20,000 in average debt. Who pays the average $2,000 a month for their apartment? He says that person is broke. Do you feel broke? He says that that broke fool should not buy until they pay off 100% of their debt and then they boost their savings to six months of complete reserves and then save up 20% down payment for that average $400,000 home. That's about $90,000 that you've got to save up to cover your down payment or 20% plus your closing costs after you've paid off 100% of all your debt and boosted your savings up to six months. All the while, he says that homes are going to continue to get more expensive and the interest rates will likely rise too. I'm going to break down that math magic School Bus style in a minute. But let me explain how I got here today. Why am I going into round two? Well, this all started because Madison, she's my badass from episode 53. The 24 year old single lady who bought herself a house. She sent me a recent clip of Dave Ramsey on TikTok. He said that right now, summer of 2022 is the best time to buy a home. He said prices are going to go up for five years. He said don't wait.

Now is a the best time to buy a house. In the next five years, prices are not going to go down. They're going to go up slower, but they're not going to go down. They may not go up hardly at all, but they're not going to go down. And so five years from today, houses are going to be more expensive. This is as cheap as it's going to be five years in the next five years. So this is the best price right now if you're going to buy a house.

Damn. When I saw that my mouth dropped. I've heard Dave say this before and seen him cost all of his followers tons of money, but I can't believe he's still saying it. Going back to 2018 on YouTube. Over 2 million views on one of Dave Ramsey's rants back then he said in 2018 it was a scorching hot market but not a bubble. Just like he said about now in 2022. In 2018 he warned all of his disciples not to get carried away and buy a home because the market was so scorching hot back then. Pre pandemic he said don't buy a home when you're broke. That's why they called them mortgage brokers because they help you stay broke. Said unless you buy a home his way that you are begging for trouble. So only buy if you follow his baby steps 3 point B and get totally out of debt with six months of reserves and a full 20% down payment because PMI is the devil. And never, never buy on a 30 year mortgage. Always use a 15 year mortgage. That's how to do it right and not go broke. That's what he said. Do you see it? Do you see the fatal flaw? He said all that and what was a rising market? What he said was a scorching hot market, a non bubble market and this was pre pandemic. If that doesn't sound contradictory to you, keep listening. And with the almighty math it should become very clear to you, someone in the comments of this video actually said it a lot better than I could. Someone commented on this 2018 video with 2 million likes and I read this and it sounded like, you know, one of those documentary testimonials when the producer finds one of the people who got out of the cult and they took an interview with them to hear, you know, ooh, what happened to you? Yeah, this is what it sounds like. Listen to this comment. Bought my first home at 47. I did still have debt, but not bad. Wait, you had debt? Dave says you're broke. I didn't have 20% to put down and so I had PMI for several years. Wait a minute. Dave says PMI is the devil. Seven years later I have no debt but our home debt and a year of savings in the bank. I refinanced to a 15 year fixed four years ago at a lower rate and our home has gone up in value by $100,000. Our home is a blessing and if I waited to put all those steps in place, I would have missed out on the opportune time to buy a home when housing prices were low and interest rates were low and right before the values of homes started going up. I wouldn't be able to afford nearly the home I have now if I had waited. And we are in a much better financial condition because of it. Am I the exception? I believe God led us to our home and the time to buy it. That's awesome. I think it's great if you think God brought you there, but I'm going to try to help the rest of you with, you know, one of my smaller gods. It's the God of math. So hopefully this is getting a little more clear for you and I'm going to explain it to you with the math. But first let's see where Dave is. Right in the TikTok that Madison sent me that started this whole Round two rant for me. Dave has is answering a question from one of his listeners and the question was should I wait to buy a house? Dave said this right now is the best time to buy a house in the next five years and here's why. Prices are not going to go down. Some of you are saying, well, I'm going to wait for prices to go down. You're not going to get them. They're not Coming down, they're going to go up slower, but they're not going to go down. They may not hardly go up at all, but they're not going to go down. So five years from today, houses are going to be more expensive. This is as cheap as they're going to be in the next five years. And you know what? Truthfully, I've heard him say five or ten years since I started researching this, but that's what he said. Okay, back to the TikTok. He said this, this is going to be the best price if you're going.

To buy a house.

And the people who say interest rates are up, I tell them, buy the house. He said, buy the house if interest rates come down. Refinance. He said refinance. I say refinance. Tomato, tomato. Okay? That's what Dave said. So let's come back to David, that's me. I said, I don't care. You can call me Dave, you can call me David, you can call me dumbass, I don't care. So today, even these high priced, unaffordable times, even Dave Ramsey says buy now. I agree with him on that, but I totally disagree on how he says to buy because his how affects the when you actually can buy. And he said it. We're in an upward trending market. He just said that. He said it's not a bubble. He said this. Today is the best time to buy because house is going to be more expensive. It's going up, and you shouldn't wait to go down. That was his answer to the question, should I wait or should I buy now? So to time the market effectively, the how is actually going to affect the when. And economically, if when ASAP is the best time to replace your largest monthly payment, your rent, with a forced savings account mortgage payment that not only provides you shelter but also is going to gain you equity with that payment. That, by the way, is fixed and will not go up like your rent will. The how seems kind of important when compared to the when. If you're going to push the win back with the how, stop worrying about when you should buy a house. Why? Because we just got told this is the best time in five years. I disagree with Dave a lot, but in this case I agree. And I say it again, stop worrying about the when. The argument is over. The debate is over. The experts have been chiming in since before the pandemic, during the pandemic and now in whatever the heck we're calling this time. The time to buy was yesterday. And if you missed that then the time to buy is today. This is the not a bubble period. The end. Mic drop. Fight me. And even now. Dave Ramsey, Captain Vaughn. Careful, Mr. McCautious, he says so. He says don't wait. Even though there's a recession looming and inflation is straight up blowing up, is there uncertainty today in 2022? Yes, I understand. But are things going to collapse and leave you in a foreclosure? No. Data, math, facts, inventory, supply and demand, they all say otherwise. I've given you the data starting way back. I think the first one was 2019. It might have been 2020, but they're there. Episodes 29, 38, 40, 47, 57, 67, 68, 70, 73, 74, 75, 84, 92, 93 and 101. There. That's why I dropped the mic. That's why I say fight me. That data might not wrap you up like a warm blanket in these freaky economic times. It's like stranger things out there. It's really hard to figure out. Fear grows in the unknown. So this knowledge that reduces the fear. That was poignant. Someone put that on a mug. It's natural and logical to think that bad headlines mean bad things for buying a house. But sometimes bad meaning bad is bad meaning good. We already went over that. And remember, the data does not support bad. Those crappy headlines. Even Dave. Mr. Play it so safe with your finances that you're going to look like a puritan from the 1600s with no skin uncovered on your wardrobe from head to toe. Even he says 2022 is the cheapest it's going to be for five years. You have options to get in and start building wealth now at the cheapest time to buy. There are and there always have been. Well, not always, but since I've been doing this for 16 years there have been tons of options to help first time buyers get into the market with low down payments. But Dave and the other old timers stick by their Jurassic philosophy, saying that the only way to stay really safe is 20% down. He tells you the market will keep going up, but then delays your entry into it. I am a gog. I am aghast. Is Marius in love at last? I am downright flabbergasted that this dude has been holding back an entire generation of home buyers with this 20% down and 15 year loan BS. I'll say it again. This is what Dave says. Dave says don't buy when you're broke. Dave says the average renter with the average $35,000 in savings, four credit cards for $5,000 each for $20,000 in debt. Who pays the average $2,000 a month is broke. Is that you? I declare bankruptcy. Do you feel broke? He says that broke fools shouldn't buy till they follow all his steps. Guess what? All those steps, that's about $90,000 you've got to save after you've paid off all your debt and boosted your savings. All the while, he's also telling you the homes are going to continue to get more expensive and interest rates are going to raise too. Do you still think that I'm a hater? Well, let me break this down math style. It's time for me to get all up in the numbers. Like Matthew Math Matthews. You remember him? Yeah, See, my camera crew laughed at that. He was from the magic school bus. This one goes out to Ms. Frizzle if you go to Dave Ramsey's mortgage calculator. It's a pretty good mortgage calculator, actually. It's a really good one. I give him that and you put in $400,000. The average price for a home today at a 5.5 interest rate might not be the average by the time this podcast dropped because rates are going up, but we'll use that number well, instantly it's going to recommend that you put 20% down and that you do a 15 year loan. If you try to change it to a 30 year fixed, it straight up tells you right on the calculator. We only recommend a 15 year loan. So now you do it his way. That's going to show a monthly payment of $3138 for PITI, but that also includes 86 bucks for an HOA. So just for this math example for Ms. Frizzle, what's up, my girl? I'm gonna eliminate the HOA. Okay, that 86 bucks just throws everything up. So we're just gonna do the piti. Principal, interest, taxes and insurance. On a single family home with no HOA, you do a Dave's Way, $3,052 a month, that's what, 20% down and a 15 year fixed loan. You can go Google it right now and run the numbers for yourself. 20% down on $400,000 is $80,000. So plus you have to add another 8 to 12,000 bucks for closing costs for a total all in of 88,000 to $92,000. And that monthly payment, like I said, 3,052 bucks. Now you take that same price, put it in the same calculator with just a 30 year loan instead of a 15 and it changes to a $2,254 payment. That's PITI. Oh, but wait a minute. Dave says you can't do that. If you change it to a 30 year loan. Now you take the same price in that same calculator and change it from a 15 year loan to a 30 year loan and it's $2,254 a month. Principal, interest, taxes and insurance. P I T I. That's a difference of 800 bucks a month. $800 a month. Dave doesn't want you to do that because then you're going to have debt. And that's a terrible thing. That's just the first part of the math. Let's see what happens if you put. And that's just the beginning. It's an $800 difference. If you spread this out, if you actually leverage this home payment. I'm under the assumption that if you can afford this payment today for the next 15 years, you're probably going to be able to afford it the next 15 years after that. And if it's $800 a month, savings is the difference between a 30 year loan and a 15 year loan. It means you can get in now before home prices keep going up and before interest rates probably keep going up, then maybe you should do that and get the equity. Now let's see what happens when you put 5% down, which by the way, is only going to cost you about 28 to 32,000 bucks all in for your closing costs and your down payment. You do that and monthly it's going to cost you $2,753. Piti. But what about PMI? The devil. Fine, throw that in for 100 bucks a month. And the PMI doesn't stay on your loan forever, by the way. And the payment goes up to $2853 a month. Okay, it doesn't sound much different, but wait a minute, let's see how it works. I say you manage your debt and you only save 5% down as opposed to saving 20% down. That's 28 to $32,000 to buy. And you're going to pay $2,853 a month, which is $200 less than Dave's 20% down and 15 year loan program. And all of that is after, according to Dave's plan, you've already paid off all your debt down to zero and you've saved six months. So that's what I say. And the 47 year old dude from the comments from 2018, he says to do that too. This is the cheapest it's going to be in five years. In other posts and comments, like I said, Dave actually said it might be 10 years. If you need to save 20% down, what are you going to be paying while you save up? Rent, that's what. And what's going up? Rent. What is the same about buying with a 30 year fixed with 5% down versus buying with 20% down on a 15 year fixed? What's the same thing about those two things? Fixed. The payment is fixed. What's different? Well, what's different is the years you take to pay off your debt down to zero, save up to six months and save up $60,000. That's the difference in the how to buy. It just kills me. It just kills me. In a world of high inflation and rising rents, if you don't explore the alternatives, you're not being conservative, you're just being naive. And again, I say that with love. This is not your your fault. You don't make money for anybody who's going to give you the plan to do this correctly. So no one's out there building a business to give you this plan back. In episode 53, I interviewed that 24 year old Madison who I talked about earlier, who sent me the first TikTok. And thanks to Dave Ramsey's teaching, because she was a disciple at 24 years old, she actually had a ton of money and she was able to buy her first home just a couple years out of college. That's great for her. Thanks Dave for helping her learn how to save money. When she was 14, 15, 16, 17 and 18, she listened to the podcast and then she came to me and after talking with me for a little bit, she figured out because she's a smart cookie, that she had some alternatives. She found herself a unicorn bubble. That's the good kind of bubble. Honestly, she hated her rental so much. She probably wanted to buy earlier just because she hated her rental so much. But anyway, she wanted to do something with her savings that she'd worked so hard to accumulate. After having deeper conversations with me and her unicorn lenders, she decided that buying with a low down payment actually is the better alternative for her. It could maximize her savings. While she wrote out the appreciation on the home, she ended up buying in April of 2021 for $475,000. Now that was April of 2021. And just a little bit over a year later, her $475,000 home is worth $625,000. I'll say it again, 475 to 625. Now wait a minute. I'm talking softly, so you listen. Hang on. This is not what I am promising you, that type of promise. If you hear that and anyone out there right now, that's the headline, that's the scam artists, they're trying to sell you to. Dump Dave's theory now and buy with them or buy their seminar, their workshop or their webinar. You will not, I repeat, you will not get that kind of return if you buy in 22 or 23. Sorry, you missed it. You're not going to get that much equity that quickly. You got that? Do you hear me? All the haters out there, I'm not promising that. This is not the land of ice cream and rainbows and Willy Wonka. This is the reality of where the market is right now. But also telling you how you can sell still take advantage of what's happening today. Things can change and things will change. But if Dave is right, we're going to have five years of slow growth with no crash or no drop. And I'm glad he said that in one TikTok because like I said, I said it in those bazillion episodes that I have been producing for the last two or three years now. If he's wrong, well then I've also produced an episode 98 on how to handle a flat or dipping market with a 7 to 10 year plan of owning that home. And it's still better than waiting it out and renting it sitting on the sidelines. So there you're covered either way. But let's suppose that we don't have to go to episode 98 for a flat and declining market. What if we just have a flat or a slowly rising market and Dave and all the data is correct. Let's talk about the how you buy and what it's going to cost you. If you follow his don't go blue broke plan, how much are you going to pay in rent to save up that 60 grand that you need to go from 5% to 20% on the purchase. $60,000. And again, that's assuming that you already have the 5%. If you don't have 5%, you're starting for basically nothing. You've got to rent and follow his plan to save 80 grand for 20% down. But for the purpose of this math for Ms. Frizzle and Matthew. Matt Matthews, I love that name. Let's say that you've already got the 5% down. So you're sitting there with about 30 grand in the bank. You listen to Dave and you don't do the 5% down and you don't buy a house now in 2022 because you don't want to go broke to get to 20% down payment. That means over the next three years, you'd have to save a minimum of $20,000 a year. That is no easy task. But let's use this example to show how preposterous this old school thinking is in today's high rent world. $60,000 in three years. That's what you got to say. Life. So according to rent.com, the average two bedroom is renting for $2,065 a month and has gone up 25.7% in the last year. 25.7. That's crazy. That's like over $500 each year. That's, that's a nuts. So I'll go conservative on that and we'll just say that. Let's say Your rent at 2000 bucks comes back at 250 added every year. That's probably a number that might ring true to a lot of you out there. Even at this half the. The actual 25.7 number that came out, the national number. This math of your rent going up to 50 a year, it's still no bueno for Uncle Dave's plan. If rents go up 250 bucks a month each year for the next three years, then you're going to pay $3,000 more next year, 6,000 in two years, and 9,000 the third year, for a total of 18,008 extra that you're going to have to pay while you're trying to save up to get that 20%. And you wouldn't have had to pay it, of course, if you bought because you would have locked into a fixed loan amount. Love homeownership. That's, that's one, you know, very important little piece of information that Dave kind of neglects to tell you about. The whole awful mortgage is bad and it's a debt thing. Yeah. But it's locked. So compare that to rents and how rents have been going. And that locked payment kicks booty over this modern rising, non fixed rent world that we live in. I've been screaming this since 2011. Seriously screaming it. I said the market's going to come back and the rents are going to keep rising. But I didn't have a national show yet, and the only person that was watching those YouTube videos were my local clients, and maybe my family, if my mom and dad could figure out how to use YouTube. So the point is, not only are you saving up, but you've got to pay an extra $18,000 in rent while you're trying to save up $60,000 while home prices and interest rates are all going up and your rent is being paid out to nothing. I don't think that's what Ms. Frizzle meant when she said, take chances, make mistakes, and get messy. I cannot be more clear than that. You have to save $20,000 a year for three years, plus the extra $18,000 that you've paid in rent, making that total 60,000 plus 18, last time I checked, that 78,000 bucks that you're going to have to sell save while you're trying to sit there and make the smart kind of purchase, according to Dave. Oh, and one more thing. In those three years you take trying to save $78,000 while you're paying rent, that goes to nothing. If you had bought instead in the first three years of owning that place, your monthly payment, fixed, fixed payment, you would have paid down the principal on that home by $16,239. That's you putting payment into an asset. So, yeah, you're perfectly fine to tell your very conservative grandmother, sorry, I'm buying a house because I love assets. Probably the worst dirty dad joke I've ever done on the podcast. The sooner you own, the sooner you're paying down the mortgage. There are simple facts here. Renting goes to nothing. Owning. Even in the first few years when you're paying lots of interest on your payment, you're still going to be paying down your mortgage on a $400,000 loan. In those first three years, you're going to be paying down $16,239. And that principal reduction, it will increase every year because it's interest up top and just a little bit of principal. But every year it shifts and you pay more and more Principal magic school bus math. And don't even make me extrapolate. Oh, you do not want me to extrapolate. This math is for the new era. Extrapolation math for those of you out there who could benefit greatly from some new generation thinking beyond those basic old school formula designed for a different world. But it is still the biggest resource out there because no one else is out doing this kind of information and helping you try to beat the new game. It's totally different than it was in years past. See, while Dave has been telling you since 2011 to save up 20% down so you didn't get in trouble each year. The people that followed his advice could have bought with 5% down and not lost out on an obvious coming appreciating market. Because in 2011 and 2012, we've been going down forever. And what goes down always goes up when it comes to real estate. So how much did Dave and these old school principles cost everybody? Shall I extrapolate? Yes. In my example, I said that if you're waiting, you'd have to save $20,000 a year for 33 years. Actually it's $26,000 because we forgot about that whole money you lose and the rent increases. Could you be paying your rent and save $26,000 a year? What if you could only save $10,000 a year? Oh, math change. Time to extrapolate. Let's go back and see where the home prices were. And the Dave Ramsey followers were looking to figure out how to buy a house. Let's say from 2015 to 2021, they didn't want to put that 5% down. They wanted to put the 2020% down. So to be to be fair now, the median price back in 2015 was only $289,000. Oh, who's pulling their hair out? Me. See, I don't have any more. Anyway, it wasn't the $400,000 it is today. So sorry, that extrapolation probably hurt your brain a little bit. Back then. If you're trying to buy that $289,000 house, you wouldn't have need to save the whole 78,000 bucks to go from 5% to 20% down. Back then, the 15% difference would have been about $43,000. So if you followed his method, you would have to save a little over $7,000 while paying rent over those six years. So you could get from 5% down to the full 20% down. But what are we forgetting with that two, two huge extrapolations, your rent would have increased every year. So let's just say back then your rent would go up $100 a year. Year in this example, not doing that math, it's going to kill you. It's going to kill your soul. So let me add it up for you. $1200 more the first year after. You could have had that locked in fixed payment. But you're paying the rent to save money. 2,400 the next year, 36 after that 4,800, then 5,000 more in the fifth year and 6,200 bucks in this last sixth year for a grand total of $23,000 extra that you would have had to pay in rent over those six years. So now the 15% difference between buying a 5% down and buying a 20% down, that originally was $43,000, it's actually 43 plus 23,200. So you have to save an extra $66,200 to buy that $289,000 home if you do it the safe, non broke Way at 20%. But now fast forward, it's 2021 and the $289,000 home that you've been saving up to buy with 20% down, now it costs $400,000 and you need more money. And I continue to extrapolate and it also shows you that if you had gone back and purchased the home for $289,000 with that smaller payment, you would have been paying just a little bit more than the rent you were already paying anyway while you were trying to save up and buy the home safely and not be broke. And in 2021 now you would have owned that $289,000 home home worth $400,000 with your fixed payment, and you would have paid off $55,000 of your loan principal while owning a home with $111,000 of equity on top of that. And that, my friends, is why when people say, should I buy now or should I wait for it to go down? No, no, no. But don't just wait. Find out every way that you can buy right now. This is not like anything else that you've ever, ever bought. This is not a TV where you're watching the price for it to drop and get a good deal. This is a moving target and you already pay a TV payment every month. So you can't buy it the same way like you're buying the TV that you want to add to your life. It's already there. In fact, you own that tv. Well, you don't own it. In fact, you're paying for a TV that your landlord gets to watch. It's one of those 98 inch bad boys with movie sound and he gets to watch it every month, but you're still going to wait until you can buy it when the price drops. And what really sucks, in my extrapolation calculation that's sweeping the nation, is that it was not sweeping the nation back in 2015. Back then, it was just Uncle Dave and Dave Ramsey was telling all the people what to do to be safe and not be broke. And instead he cost them hundreds of thousands of dollars. He sidelined thousands and thousands of potential homeowners and strapped them into a rent cycle when they could have been earning equity, costing them hundreds of thousands of dollars in their financial portfolio. So I love him, love him for helping people get out of debt. But I am super bummed and super don't like everything that I just talked about. I do not agree with his prehistoric old school principles. So to all you that are thinking that buying a home is risky, all those who are listening to Uncle Dave and thinking that right now you just need to hold off, I just extrapolated and did all the math and data for you. The safe conservative guru Dave says that the market's not going to go down for five years. Even he says the best time to buy is in the next now because it's going to be going up for the next five to 10 years. But Dave won't like to hear this, but Jesus, Mary and Joseph, let's give these people looking for answers the entire whole picture. The entire picture. If you're going to tell them now's the time to buy, give them every option. The how. I've been saying it since 2011. I'm no genius. I was to do selling houses in an area where it's freaking expensive. I had to research the how for young Gen X's and millennials and now I'm trying to do it for the Gen Zs. I had to find a way to help people fight the rising rent and still be safe. I've been advising people to buy with a 3 1/2% down or 5% down. One of those loan programs. I've been advising people to use it for decades. And hell, for some of my super scaredy cats who had 20%, I even told them maybe they should look at a 5% down and put the extra 15% into a money market account. What's the worst thing that can happen? You can always pay down your principal anytime you want to. You've got the money right there and it's liquid. So we know the when and now. You know the how and you're aware that you've missed the huge explosion of equity. I'm sorry, so you're not going to get the gaudy numbers, but this is still the right place plan and you're still going to lose if you wait for a crash. If you buy today or as soon as you can with 3 1/2 or 5% down going into a slower appreciating market, you still win. I did the math. Fight me. I only tell you this so you see what you can do, what you can take advantage and what you shouldn't do, which is wait. Look, I understand. Not everybody out there can buy a home. Dave. You know, for many of you out there, he might be.