How I Bought My Own Home by Being Born 60 Years Ago
Anybody who's made money in real estate will tell you it's all about knowing when to buy.
Everybody loves to complain about the cost of housing. But nobody comes to the table with any solutions. I figured out how to own my own home, and all it took was hard work, focus, and being born 60 years ago into an era when homeownership was feasible for the average American.
It's shocking to me that nobody else has tried this.
Consider that the cost of housing has more than quadrupled over the last 30 years, while wage growth has largely remained stagnant. I'm no financial expert, but that sounds like an awful market to buy a house in. And yet, you see all these Millennials investing their life savings based on the outdated belief that home ownership is part of the American Dream. A much savvier investment would be to buy a house 30 years ago, then sell it to a desperate Millennial couple today at an obscene markup.
This ain't rocket science, folks—it's time travel.
All you need to do is pick a great time to buy a home, then time your birth roughly 25 years before that. I used this exact method to purchase a home for $60k that today is worth $1.4 million. That single real estate transaction has set me up financially for life. But you see a lot of potential homeowners ignoring this advice and being born much more recently. That's a huge mistake and a big reason why you're unable to access the American Middle Class.
If I was to offer these prospective homeowners a word of advice, it'd be to work hard, cut back on expenses, and ask your parents to cut you a check for $800k so you can buy a house. This may seem like a lot of money to you, but remember that—unlike you—your parents timed their birth correctly. This means their home is probably worth a fortune right now, so they can spare the money.
This is the exact method my children are using to purchase their first homes.
If you somehow ended up in a family that doesn't have generational wealth, this is also your fault. Owning real estate in 2023 isn't just about picking the right time to be born, but also picking the right people to be born to. My father used his G.I. Bill to earn a STEM degree, then voted for politicians who would protect his wealth at the expense of the common good. Thanks to him, I now own a home with an in-ground pool and attached garage in an area with good public schools and access to mass transit.
If your parents didn't become obscenely wealthy when upward mobility was still possible in America, you pretty much deserve to be homeless.
To sum up, the key to owning a home in 2023 is not buying a home in 2023. But it's also not renting. The lack of affordable housing has locked millions of would-be homeowners into the rental market, allowing landlords to essentially name their price. I would know, given I used the equity in my first home to purchase a series of rental properties.
Sadly for my tenants, I'll have to raise their rent again this year to cover the cost of my children's new homes. I’m not worried about any of them moving out, though. Have you seen the price of housing lately?