Will You Be Able to Retire in 30 Years if you Bought a Home Now

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Ace1000ks1975

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11,500

Published on March 3, 2024 2:00:07 AM ● Video Link: https://www.youtube.com/watch?v=9t7f-X-4im0

Duration: 17:17

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[Synopsis]

In this video, I want to find out how much your monthly expenses would be if you bought a home now, and home much your monthly expenses would be in 30 years from now. I compare and contrast with my experiences of buying a home 27 years ago to where they will be 30 years from now.

There are a lot of costs to owning a home, like property tax, homeowners insurance, maintenance, and utilities. I left out the maintenance and utilities, but instead I put more emphasis on property tax, and homeowners insurance, because those expenses are integral to owning a home. Property values in the past 27 years went up at a steady rate of about 7.0% to 7.2% per year. In the next 30 years, we can assume the price of homes can go up 7%/year. We have a debt based monetary system which is by its nature inflationary.

There is a hidden cost to having a inflationary monetary system, which makes it nearly impossible for people to retire even if they paid off their mortgage. In this video, I will try to prove this quantitatively using a spreadsheet and numbers.
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