Are We Heading For A Crash? with Kyle Seagraves
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/
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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
Transcript
Welcome back to our last episode in this mini season with
Katelyn Magnuson:Kyle, Seagraves talking all things, mortgages, home loans, and the market.
Katelyn Magnuson:Kyle is a certified mortgage advisor, licensed loan originator,
Katelyn Magnuson:and the owner of win the house.
Katelyn Magnuson:You love a YouTube channel with over a hundred thousand subscribers.
Katelyn Magnuson:Kyle, we have.
Katelyn Magnuson:An interesting market right now.
Katelyn Magnuson:I think we've had an interesting market for a while and we're watching
Katelyn Magnuson:things change, I think, fairly rapidly.
Katelyn Magnuson:So I know that a lot of people have compared what we're sort of
Katelyn Magnuson:entering into or had worries about like, will the housing market crash.
Katelyn Magnuson:Well, we see what happened in 2008 and I wanna just really dive right into, you
Katelyn Magnuson:know, what are some of the differences between what the market looked like in
Katelyn Magnuson:2008 versus what you're seeing right now?
Kyle Seagraves:Well, first I think it's helpful to understand.
Kyle Seagraves:Why is there so many of these questions around real estate?
Kyle Seagraves:I know that we throw around the word appreciation a lot, and I think
Kyle Seagraves:sometimes people don't maybe fully understand what appreciation is.
Kyle Seagraves:So buying house is interesting in that.
Kyle Seagraves:It's a place that, you want to have a nice backyard.
Kyle Seagraves:You wanna have a nice place to live.
Kyle Seagraves:You might wanna have a home office, you need a, a nice
Kyle Seagraves:place for your cat or whatever.
Kyle Seagraves:Like it's a place that you're going to live and enjoy.
Kyle Seagraves:On the other hand though, it's also, what's called an
Kyle Seagraves:appreciating asset in that.
Kyle Seagraves:You get to buy the house either with cash or take out a loan on it.
Kyle Seagraves:But the home value over a period of time historically actually increases in value.
Kyle Seagraves:And when it increases in value, uh, it appreciates that's.
Kyle Seagraves:That's what that's called.
Kyle Seagraves:So the historic appreciation over the past around 50 years is around 4% per year.
Kyle Seagraves:So every single year it goes up by 4% and then the next year, another 4% on
Kyle Seagraves:that value and then 4% on that value.
Kyle Seagraves:And over the past couple years, we've seen.
Kyle Seagraves:A pretty strong growth in appreciation.
Kyle Seagraves:Um, some are closer to like 18 to 20%, uh, kind of depends on different
Kyle Seagraves:markets, but 20% growth year over year, meaning that if you bought a home for a
Kyle Seagraves:hundred thousand, it now is worth 120.
Kyle Seagraves:If you bought one for 200, it's an worth two 40.
Kyle Seagraves:so this crazy growth that's happening, that's causing people to kind of get,
Kyle Seagraves:in reality, not be able to afford homes as they continue to, to increase.
Kyle Seagraves:And so this is something that we saw.
Kyle Seagraves:similarly we saw this kind of price growth before the 2008 housing crash.
Kyle Seagraves:And so this is allowed a lot of people to start thi feeling like, oh my gosh,
Kyle Seagraves:we've seen this before the last time.
Kyle Seagraves:This amount of crazy growth happened.
Kyle Seagraves:Everything fell out.
Kyle Seagraves:And there were job losses and people lost a ton of money in retirement accounts.
Kyle Seagraves:People lost their homes, they got foreclosed on and it caused this
Kyle Seagraves:big financial shift that took a long time for people to recover in.
Kyle Seagraves:And it's a little bit of one of those things of, we're
Kyle Seagraves:just looking at one number.
Kyle Seagraves:We're just looking at price growth, and then correlating them with, well,
Kyle Seagraves:it crashed one time with price growth.
Kyle Seagraves:And so now it's going to crash again with price growth as.
Kyle Seagraves:And that's not necessarily true.
Kyle Seagraves:Uh, what happened in kind of around 2006, ish is you had a, a
Kyle Seagraves:financial market that was not ideal.
Kyle Seagraves:People were making.
Kyle Seagraves:Really bad loans, really bad mortgages, and then going off and
Kyle Seagraves:selling those to other people for a premium and they were risky.
Kyle Seagraves:And, and basically it set up the entire economy, uh, in a state
Kyle Seagraves:where it was just a house of cards.
Kyle Seagraves:All it took was one thing falling apart for the whole thing to bottom
Kyle Seagraves:out and really a big culprit here was predatory lending practices.
Kyle Seagraves:So things like, uh, stated income loans where.
Kyle Seagraves:You used to be, just be able to say, yeah, I make a hundred thousand
Kyle Seagraves:dollars and they would let you get approved for a loan for that.
Kyle Seagraves:Now you actually have to prove with quite a bit of documentation that you
Kyle Seagraves:actually make that kind of money, or things like adjustable rate loans,
Kyle Seagraves:where it might be fixed for a period of time and then adjust after that.
Kyle Seagraves:So there are people who they could qualify on the lower rate
Kyle Seagraves:of the adjustable rate mortgage.
Kyle Seagraves:But then, after that rate expired, their payment shot up because interest
Kyle Seagraves:rates went up and now they couldn't afford the payment and had to foreclose.
Kyle Seagraves:Now that mortgage world is completely different than what we have now, after
Kyle Seagraves:that caused a huge, like rippling effects throughout not only the us economy,
Kyle Seagraves:but the world economy, then there were a lot of safeguards put in place
Kyle Seagraves:to say, we're gonna have to tighten down How secure these mortgages are.
Kyle Seagraves:And that's why if you go through the mortgage process now it's kind of
Kyle Seagraves:confusing and overwhelming and a little bit terrifying because so much of the
Kyle Seagraves:information that you provide gets checked and verified through rules like ATR,
Kyle Seagraves:which is the ability to repay meaning the, the lender has an obligation to
Kyle Seagraves:make sure you can actually pay back this mortgage over the likelihood of the time
Kyle Seagraves:that you're gonna have the mortgage.
Kyle Seagraves:So the fundamental, like loans that are being put out are
Kyle Seagraves:completely different here.
Kyle Seagraves:So then the big question is like, okay, well, why are we
Kyle Seagraves:seeing these price raises?
Kyle Seagraves:We saw the price raises then because access to debt was so easy and it
Kyle Seagraves:was so easy to get into a home.
Kyle Seagraves:and because you could do that and you had, people basically saying, well,
Kyle Seagraves:I can write down whatever income.
Kyle Seagraves:And then the interest rate is really low.
Kyle Seagraves:The payment's really low.
Kyle Seagraves:I can afford that.
Kyle Seagraves:home values go.
Kyle Seagraves:Because people are like, of course I can afford this million dollar house
Kyle Seagraves:because the interest rate in the beginning is super low and I can afford
Kyle Seagraves:the monthly payment and that's it.
Kyle Seagraves:But that, wasn't the reality of the situation right now.
Kyle Seagraves:What we're seeing is a fundamentally different change
Kyle Seagraves:in why there's appreciation.
Kyle Seagraves:So there's home growth, appreciating both in, you know, 2006 and now, but
Kyle Seagraves:there's different reasons why, the reason why we have such an intense
Kyle Seagraves:growth right now really goes back to the basic equation of supply and demand.
Kyle Seagraves:Which is, there are a lot of people looking for homes, really high demand,
Kyle Seagraves:but really low supply of homes.
Kyle Seagraves:And that's why home prices have increased.
Kyle Seagraves:But I don't see the shaky financial fundamentals beneath,
Kyle Seagraves:like there was in 2006 to two,
Katelyn Magnuson:I think the big difference, um, that I've seen as a
Katelyn Magnuson:buyer, cause I bought in 2010, I bought a foreclosed home and I know that there had
Katelyn Magnuson:already been some changes to the industry at that time, but it's just, it's wild.
Katelyn Magnuson:I mean, we had.
Katelyn Magnuson:I'm 32.
Katelyn Magnuson:We had what the.com burst in the very early two thousands.
Katelyn Magnuson:And then we had that big recession in, you know, what, 2006 to 2010 ish give
Katelyn Magnuson:or take, And so I think so many people now that have lived through that that
Katelyn Magnuson:were kind of, of millennial or gen X age, even keep waiting because in our
Katelyn Magnuson:history, our, you know, which is so short, historically we've seen home
Katelyn Magnuson:prices drop, you know, they hit a peak, they drop and everyone's just sort of
Katelyn Magnuson:waiting with baited breath to be able to, you know, buy the dip, so to speak.
Katelyn Magnuson:And from everything that I've been reading and everything that you just talked about.
Katelyn Magnuson:And for a lot of the reasons that you stated.
Katelyn Magnuson:It doesn't seem like we're going to see some big, you know, plummet and home
Katelyn Magnuson:values for a lot of different reasons.
Katelyn Magnuson:And so I think like you've talked about, there is an opportunity cost to an extent
Katelyn Magnuson:to not getting into the market sooner and especially with, home values, continuing
Katelyn Magnuson:to appreciate, um, whether they continue to appreciate at the same pace or not.
Katelyn Magnuson:They're still normally in appreciating.
Katelyn Magnuson:Thing for you to be owning versus like buying a car or something
Katelyn Magnuson:that in normal terms normally would depreciate, um, cars are normally,
Katelyn Magnuson:you know, depreciating asset.
Katelyn Magnuson:However, the last, what year and a half, two years we have seen that kind of
Katelyn Magnuson:flipped on its head, which has been wild.
Katelyn Magnuson:Yeah.
Katelyn Magnuson:I'd never thought I'd see the day where you could buy a car and sell it a year or
Katelyn Magnuson:two later for more than you purchased it.
Katelyn Magnuson:But, you know, yeah.
Katelyn Magnuson:I.
Katelyn Magnuson:Keeps me on my toes.
Katelyn Magnuson:So I think when people are talking recession and we're seeing, you know,
Katelyn Magnuson:some changes, especially with inflation and with the stock market and there's,
Katelyn Magnuson:you know, uncertainty, I think that one of the areas that we can kind of
Katelyn Magnuson:be certain will continue to appreciate maybe at a slower rate, would be.
Katelyn Magnuson:And so I think for a lot of people that are waiting to buy the dip, I and Kyle,
Katelyn Magnuson:I think you would agree with this.
Katelyn Magnuson:If it's something that you're able to afford and you feel
Katelyn Magnuson:confident about making the move.
Katelyn Magnuson:I don't think continuing to wait for a year, two years, three years
Katelyn Magnuson:is going to benefit many people financially in the long run right now.
Kyle Seagraves:Yeah.
Kyle Seagraves:And if, if it helps anybody, like I'm buying house, like
Kyle Seagraves:I'm closing, uh, on the 17th.
Kyle Seagraves:And I wouldn't be doing that if I thought everything was gonna fall apart.
Kyle Seagraves:Right.
Kyle Seagraves:Um, yeah.
Kyle Seagraves:And, and, you know, we saw this, in 2020 as well, when, when the beginning of
Kyle Seagraves:kind of this steeper increase in home appreciation happened where people were
Kyle Seagraves:like, there's no way this is sustainable.
Kyle Seagraves:Um, I am, I'm gonna wait.
Kyle Seagraves:And they waited out two years and now they can't buy house.
Kyle Seagraves:The house that they were looking at buying has now increased by 40, 50, 60.
Kyle Seagraves:A hundred thousand dollars over that period of time, which is insane.
Kyle Seagraves:Like I have a, I have a friend of mine.
Kyle Seagraves:He bought a, a home here for one 30 and within three years, uh, he just
Kyle Seagraves:sold it with a cash offer for two 80.
Kyle Seagraves:And so like, you're seeing just crazy appreciation and this
Kyle Seagraves:isn't in every single market,
Katelyn Magnuson:Right.
Kyle Seagraves:so far the people who have tried to wait out things haven't
Kyle Seagraves:seen very much for return and, you know, what's, what's really interesting too.
Kyle Seagraves:is, thinking through like, not only what are individuals doing, but what are the
Kyle Seagraves:people who have a ton of money doing?
Kyle Seagraves:So what are all these investment firms doing?
Kyle Seagraves:What are like local investors doing and they're buying, right?
Kyle Seagraves:Like you have these huge companies purchasing up more and more and
Kyle Seagraves:more residential homes, homes.
Kyle Seagraves:First time home buyers should be getting corporations are going out and saying we
Kyle Seagraves:will absolutely pay the premium for it.
Kyle Seagraves:If they're putting billions of dollars into investing into primary,
Kyle Seagraves:you know, uh, single family homes.
Kyle Seagraves:they feel like they're going to earn money on that.
Kyle Seagraves:And what they're doing is they're gonna turn those into rentals because, uh,
Kyle Seagraves:they know the demand is gonna continue increasing and they can make more money
Kyle Seagraves:renting than they can just selling it.
Kyle Seagraves:But you know, this, it's a really interesting from the psychology
Kyle Seagraves:perspective, there's a, a really big channel on YouTube.
Kyle Seagraves:That's grown a lot quite recently.
Kyle Seagraves:And a lot of the narrative is around this, like housing crash is gonna happen.
Kyle Seagraves:And this person's been talking about a housing crash for the past two years.
Kyle Seagraves:So at some point you're gonna be right.
Kyle Seagraves:If you keep saying the same thing over and over and over again.
Kyle Seagraves:I'm more in the stance of like, I don't know, we don't know
Kyle Seagraves:what the future looks like,
Kyle Seagraves:but what's interesting is this person keeps talking about a housing crash,
Kyle Seagraves:but his underlying business model.
Kyle Seagraves:I will show you cities to purchase investment homes in right.
Kyle Seagraves:It's scare first time home buyers.
Kyle Seagraves:So investors can come.
Kyle Seagraves:and people don't realize what they're being told.
Kyle Seagraves:They think they're the main audience.
Kyle Seagraves:They're the, and so, but they're getting scared out of buying.
Kyle Seagraves:So it's easier for investors to come in.
Kyle Seagraves:It's it's a pretty like insidious model when you actually look at
Kyle Seagraves:it, and this is happening a ton where, I keep seeing people, they
Kyle Seagraves:talk about it because it triggers.
Kyle Seagraves:The that like fight or flight in us, it triggers fear and, you know, money is
Kyle Seagraves:such a, a core emotional thing to us.
Kyle Seagraves:And we've talked quite a bit about like managing some of the
Kyle Seagraves:emotions that come up and the, thoughts that we have around money.
Kyle Seagraves:Um, but like people will really play on these things.
Kyle Seagraves:But then when you actually look at what are they actually believing about this?
Kyle Seagraves:it's none of it, like I was on that person's website the other day, and
Kyle Seagraves:I saw one of their testimonials that they have highlighted on the homepage.
Kyle Seagraves:You know, the whole channel's dedicated to like, housing's gonna crash.
Kyle Seagraves:You shouldn't buy a home.
Kyle Seagraves:And right there on the home page of the website is a testimonial saying,
Kyle Seagraves:thanks so much, you helped me.
Kyle Seagraves:I wasn't sure, but I, after talking with you, I felt cuz he does consultation.
Kyle Seagraves:After talking with you.
Kyle Seagraves:I felt confident moving forward with buying my first.
Kyle Seagraves:So
Katelyn Magnuson:Right, right.
Katelyn Magnuson:Oh my God.
Kyle Seagraves:to get the attraction, I'm gonna talk about housing crash, but when
Kyle Seagraves:I actually do consulting with you, I'm gonna suggest that you buy It is wild.
Katelyn Magnuson:Yeah, no, absolutely wild.
Katelyn Magnuson:and that's also on anyone that's consuming content, right.
Katelyn Magnuson:I think in this day and age, and this is kind of, you know, a tangent, right.
Katelyn Magnuson:But I think in this day and age, when you're consuming content, I think it's
Katelyn Magnuson:so worthwhile to do your due diligence.
Katelyn Magnuson:Like how are they making their money?
Katelyn Magnuson:Is there a vested interest?
Katelyn Magnuson:Is there a bias.
Katelyn Magnuson:Cause there there's going to always be something, but it's
Katelyn Magnuson:just, are you aware of that?
Katelyn Magnuson:Can you take that in into consideration and then make sure that you're looking
Katelyn Magnuson:at whatever information you're consuming through that lens, understanding that
Katelyn Magnuson:someone's probably trying to sell you something or provide information
Katelyn Magnuson:and like, yes, there's free content.
Katelyn Magnuson:All of us put free content out, but we're also putting
Katelyn Magnuson:free content out and running a.
Katelyn Magnuson:So like there there's a purpose for us being in business.
Katelyn Magnuson:And I think being aware of that and not just hopping in and being
Katelyn Magnuson:like, oh, I'm not gonna buy a house.
Katelyn Magnuson:And then yeah.
Katelyn Magnuson:Making your money off of kind of the antithesis of that is, is wild.
Katelyn Magnuson:and I think that's a good point too, Kyle though, with the.
Katelyn Magnuson:Discretion of like, we don't have a crystal ball, right.
Katelyn Magnuson:Something completely unrelated that we're not like we didn't
Katelyn Magnuson:predict COVID necessarily.
Katelyn Magnuson:I mean, some people would say that they did, but like we didn't expect it to have
Katelyn Magnuson:the wide lasting impact that it's had.
Katelyn Magnuson:There could always be something, um, there's always risk that goes along.
Katelyn Magnuson:I think with any investment that we make with any choice, any big decision,
Katelyn Magnuson:leaving a job, changing career paths.
Katelyn Magnuson:Um, and I think it's just, are you comfortable with
Katelyn Magnuson:that risk that you're taking?
Katelyn Magnuson:And for me.
Katelyn Magnuson:A market will normally recover over five to 10 years.
Katelyn Magnuson:If I'm looking or I could comfortably stay somewhere that I'm looking to
Katelyn Magnuson:buy for five to 10 years, I have a lot less of an issue with buying.
Katelyn Magnuson:And in the meantime, I'm at least paying my loan down.
Katelyn Magnuson:So even if I had to leave and I had a little bit of a, less of a profit than
Katelyn Magnuson:I'd planned on the hope would be that I could still get out of it without,
Katelyn Magnuson:without having to bring money to close.
Kyle Seagraves:Yeah.
Kyle Seagraves:Yeah.
Kyle Seagraves:And that's a, a great point because I think for a lot of people, the, the trauma
Kyle Seagraves:kind of comes from the 2008 housing crash.
Kyle Seagraves:When we actually did see a big decline in, um, home values.
Kyle Seagraves:But you you can Google right now, Fred F R E D uh, it's
Kyle Seagraves:federal reserves economic data.
Kyle Seagraves:I think that's what this stands for.
Kyle Seagraves:Um, so Google, Fred median home price, and you can see what the median home
Kyle Seagraves:prices have been in the us historically.
Kyle Seagraves:And if you look.
Kyle Seagraves:2008 home prices, right before things dropped out.
Kyle Seagraves:If you bought a home at the height of home prices, right before that
Kyle Seagraves:crash home prices would've declined and then they would've gone back up.
Kyle Seagraves:So they declined for about three years and then went back up over the next three.
Kyle Seagraves:If you waited six years.
Kyle Seagraves:You would not have lost any money you would've broke.
Kyle Seagraves:Even the home, same home for 400,000 would then sell again for 400,000
Kyle Seagraves:in six years where you lose money is actually when you end up selling what
Kyle Seagraves:happens is people get scared cause the price drops and then they think, oh my
Kyle Seagraves:gosh, I gotta get out before it goes
Kyle Seagraves:too low.
Kyle Seagraves:And it kind of, it's a classic, uh, investment saying, which is like,
Kyle Seagraves:don't try to catch a falling knife.
Kyle Seagraves:Like you're gonna get hurt on the way down.
Kyle Seagraves:Uh, like we, we don't actually lose the money until we.
Kyle Seagraves:To be fair.
Kyle Seagraves:Like there's tons of other things going on.
Kyle Seagraves:People were losing jobs, being laid off, all these other economic impacts,
Kyle Seagraves:which is why we talk a lot about, you know, having an emergency fund
Kyle Seagraves:and not buying something all the way.
Kyle Seagraves:at the top of our budget or going with a 30 year mortgage instead of a 15, all
Kyle Seagraves:these extra layers of risk, protection and management that we can add in there.
Kyle Seagraves:We've only had in the past, I think a hundred years, it may,
Kyle Seagraves:might have been more than that.
Kyle Seagraves:about three drops in home prices.
Kyle Seagraves:Two of them only were, it took three years to have a dip in recovery
Kyle Seagraves:where if you bought at the height waited three years and then sold,
Kyle Seagraves:you would not have lost any money.
Kyle Seagraves:You would've broke.
Kyle Seagraves:Even 2008 was six years.
Kyle Seagraves:And then I think we had one more.
Kyle Seagraves:I can't remember which data it was, but it was three years, but it will, you
Kyle Seagraves:can see it in like the Fred data, that little chart dips down, you'll say it's
Kyle Seagraves:three years, six years, three years.
Kyle Seagraves:and so for me, that gives me a lot of confidence cuz I had that fear
Kyle Seagraves:of buying too where I was like, man, well, what if you know, home
Kyle Seagraves:prices are growing a lot and we're.
Kyle Seagraves:Data that shows us there's it looks like we're flipping into a buyer's
Kyle Seagraves:market where buyers have more control, but just because there's a buyer's
Kyle Seagraves:market does not mean prices go down.
Kyle Seagraves:It just means prices begin to stabilize a little bit more, going
Kyle Seagraves:down is actually pretty extreme and isn't super common historically.
Kyle Seagraves:And so for me, what gave me a lot of confidence was like even
Kyle Seagraves:in a market where there was like predatory lending that we now have
Kyle Seagraves:safeguards that don't exist anymore.
Kyle Seagraves:That was six years.
Kyle Seagraves:If home prices decrease, can I stay in my home for six years?
Kyle Seagraves:I I'm pretty sure I can do that.
Kyle Seagraves:if I need to.
Kyle Seagraves:So I just don't see.
Kyle Seagraves:I know it's really like salacious and these headlines are so like,
Kyle Seagraves:they really trigger that thing.
Kyle Seagraves:I just don't see any data that actually would show me, like things are going to
Kyle Seagraves:bottom out and it's gonna cause a huge.
Kyle Seagraves:Problem.
Kyle Seagraves:I think if we're gonna run into problems, it's gonna be larger
Kyle Seagraves:economically and not just specific to
Kyle Seagraves:the housing market and larger economic problems.
Kyle Seagraves:We're all screwed.
Kyle Seagraves:If those happen anyway,
Kyle Seagraves:, Katelyn Magnuson: right.
Kyle Seagraves:And then is it really gonna, yeah.
Kyle Seagraves:is that really gonna be your biggest concern?
Kyle Seagraves:Well, and Kyle, I know we talked about, but you reminded me with, we
Kyle Seagraves:see that happen with stocks, right.
Kyle Seagraves:Or investments so many people pulled out during the collapse, you know,
Kyle Seagraves:in 2008, Give or take somewhere around there for the same thing.
Kyle Seagraves:Right.
Kyle Seagraves:They were like, oh God, I wanna pull it out because what if it gets worse?
Kyle Seagraves:Whereas for a lot, and again, there are caveats to this, right?
Kyle Seagraves:Like if you were of retirement age, if you were Dr.
Kyle Seagraves:Actively drawing on that money, there are a few very, very few.
Kyle Seagraves:And even then I still think holding it would've been beneficial, but for
Kyle Seagraves:some people that is the only money that they had for a lot of us that
Kyle Seagraves:were under the age of, you know, needing to use that in the next 10.
Kyle Seagraves:It showed that the people that had withdrawn their money, I was reading
Kyle Seagraves:a study, I don't know, a couple of years ago about it, but it had showed
Kyle Seagraves:that if they had just left it there and the people that did leave it
Kyle Seagraves:there, the funds had fully recovered.
Kyle Seagraves:God, I wanna show you, I think it was in six years, six or seven
Kyle Seagraves:years, like fully recovered and actually exceeded prior values.
Kyle Seagraves:And so instead, and we were talking about.
Kyle Seagraves:You don't actually lock in the loss until you cash your funds
Kyle Seagraves:out, you take your money out.
Kyle Seagraves:Same thing.
Kyle Seagraves:You also don't lock in that, you know, gain or that appreciation or that
Kyle Seagraves:return on investment until you cash out.
Kyle Seagraves:But it's still, you're cashing out like one of the worst possible times.
Kyle Seagraves:If you can afford to just hang in there, like let it sit,
Kyle Seagraves:check your funds less often.
Kyle Seagraves:Uh, that's something that like I was reading in the psychological hit that you
Kyle Seagraves:take when you watch your investment value.
Kyle Seagraves:Is so much stronger than the, you know, psychological feel good
Kyle Seagraves:when you see it have an uptick.
Kyle Seagraves:And so some really common advice that I stand by.
Kyle Seagraves:To not check your investments more than once a quarter, if they're kind
Kyle Seagraves:of on like an auto auto invests auto, you know, rebalancing because you're
Kyle Seagraves:in it for the long haul anyways.
Kyle Seagraves:So should we really be checking it regularly?
Kyle Seagraves:Should we be looking at it all time?
Kyle Seagraves:And I look at it for the most part with at least with my primary
Kyle Seagraves:house, um, very much the same way.
Kyle Seagraves:I'm, it's an investment.
Kyle Seagraves:It's a medium to long term investment.
Kyle Seagraves:The value of the house will fluctuate over the next few years.
Kyle Seagraves:Am I comfortable weathering those.
Kyle Seagraves:Yes.
Kyle Seagraves:Yeah.
Kyle Seagraves:It's like the, the amount that you check it needs to correlate
Kyle Seagraves:with the timeline of investing.
Kyle Seagraves:If your timeline for investing is 20 years, then you should,
Kyle Seagraves:why are you checking every day?
Kyle Seagraves:The daily changes don't matter.
Katelyn Magnuson:At all.
Katelyn Magnuson:Yeah.
Kyle Seagraves:and you can't control 'em anyway.
Kyle Seagraves:So if, if you ever needed to make decisions about things,
Kyle Seagraves:okay, those decisions can actually over a 20 year span.
Kyle Seagraves:You could make 20 decisions about your finances.
Kyle Seagraves:That's even, that is quite a bit to be moving money around
Kyle Seagraves:for long term investing.
Kyle Seagraves:Uh, and that's just checking it once a year.
Kyle Seagraves:Even if you pull it back to checking it once a quarter, like that's still
Kyle Seagraves:checking in on, on your money 80 times and potentially changing it.
Kyle Seagraves:Like that's, that's a lot to move money around for a long term investment.
Kyle Seagraves:And so, yeah, why are we checking
Katelyn Magnuson:No, and I think it's such a human thing to see
Katelyn Magnuson:it and to want to tinker with it.
Katelyn Magnuson:Right.
Katelyn Magnuson:You, you get in there and you're like, oh, I'm just gonna, no, just
Katelyn Magnuson:leave it alone, leave it alone.
Katelyn Magnuson:And that's, I, I think so much of that is we do the same thing with buying a house.
Katelyn Magnuson:We do the same thing with making big life decisions, right.
Katelyn Magnuson:And there's a time and a place, right.
Katelyn Magnuson:You wanna make sure your finances check out.
Katelyn Magnuson:You wanna make sure that you've, you know, crossed your Ts and dotted your eyes.
Katelyn Magnuson:But part of.
Katelyn Magnuson:and it's not like the sexy part of money, but so much of it
Katelyn Magnuson:is just consistency over time.
Katelyn Magnuson:You know, same thing like as you're investing cool, let's pick
Katelyn Magnuson:an amount that we feel good with.
Katelyn Magnuson:Let's regularly invest.
Katelyn Magnuson:Let's pick our house and let's, you know, get a strategy for our
Katelyn Magnuson:loan that works with our financial goals and just day in and day out.
Katelyn Magnuson:You're just, it, everyone wants like a quick fix or get, you know, get
Katelyn Magnuson:rich, quick scheme and sure people can have windfalls and get lucky.
Katelyn Magnuson:All these, but like so much of it for the majority of us, you're gonna be so much
Katelyn Magnuson:better off if, if you just stick with it and you're consistent and a little bit
Katelyn Magnuson:boring when it comes to your finances and it comes to paying your loans down.
Kyle Seagraves:Yes, absolutely.
Kyle Seagraves:know, one, one thing I, I did wanna circle back to kind of the, a little
Kyle Seagraves:bit of the fear of the housing market stuff a little bit, that
Kyle Seagraves:just kind of popped into my mind, what's interesting about kind of the.
Kyle Seagraves:The headlines or a lot of the content around housing market crash stuff.
Kyle Seagraves:What I've realized and, you know, cause I primarily make content about
Kyle Seagraves:home buying is it's done a really big disservice to home buyers in a lot of
Kyle Seagraves:the stuff that we're talking about, this like fundamental education side even
Kyle Seagraves:about, okay, how are we investing money along with saving for buying a house
Kyle Seagraves:and how are we looking at our budgeting?
Kyle Seagraves:These topics aren't being addressed.
Kyle Seagraves:And I think it's actually it is a disservice to home buyers who want
Kyle Seagraves:and need to understand a lot of these fundamental things about their money
Kyle Seagraves:and buying a home and what their plan is for the future, because it's
Kyle Seagraves:all being captured by just the like kind of more click Beatty titles is
Kyle Seagraves:really disappointing because like, for me, I've kind of taken the stance
Kyle Seagraves:of like, people deserve to know.
Kyle Seagraves:All these fundamentals, no matter what the market is like, whether
Kyle Seagraves:it's easy or difficult, people still need to understand how an
Kyle Seagraves:appraisal works, how to solve issues.
Kyle Seagraves:When it comes in low, how much their down payment is, how to save
Kyle Seagraves:money in the best way possible.
Kyle Seagraves:And it's interesting that we're so addicted to, like, I want to keep
Kyle Seagraves:hearing about the thing, like the good news is we already know buying a
Kyle Seagraves:homeless stuff and the market is tough.
Kyle Seagraves:Like we already know that.
Kyle Seagraves:So why do we.
Kyle Seagraves:Hearing it over and over again.
Kyle Seagraves:The next best thing to do is like, since we already know the
Kyle Seagraves:market is tough what are the plans that we can take beyond that?
Kyle Seagraves:What can I actually do?
Kyle Seagraves:That's like tangible.
Kyle Seagraves:Can I start the next step of creating emergency fund?
Kyle Seagraves:The next step of paying off credit card debt of finding a side
Kyle Seagraves:hustle or finding a way to raise my income, by getting a raise.
Kyle Seagraves:What are the actual, tangible steps I can take learning about the buying process,
Kyle Seagraves:feeling more confident about the money that I have, uh, rather than just hearing
Kyle Seagraves:the same thing over and over again.
Katelyn Magnuson:Well, and I think understanding what you need to have too,
Katelyn Magnuson:because I think like you've identified so many times people think they need so
Katelyn Magnuson:much more money or they need a higher credit score or they need something.
Katelyn Magnuson:So like having an action plan laid out can make you feel, I
Katelyn Magnuson:think so much less hopeless.
Katelyn Magnuson:Because I see it all over TikTok all over the news.
Katelyn Magnuson:We all do all over
Katelyn Magnuson:Instagram.
Katelyn Magnuson:You know it's just woes me and it's click baby.
Katelyn Magnuson:And like, yeah, it's tough.
Katelyn Magnuson:it absolutely can be depending on your market, your personal financial
Katelyn Magnuson:situation, your goals, your student loans, like everything you have going,
Katelyn Magnuson:but it feels at least for me, a lot better to be taking action towards something.
Katelyn Magnuson:That's my goal, like buying a house was my goal.
Katelyn Magnuson:I would want to be able to take action towards making that happen
Katelyn Magnuson:for me for years, it was job hopping.
Katelyn Magnuson:So I could bump my income up.
Katelyn Magnuson:It was nailing, you know, a great W2 to help qualify, like all of these
Katelyn Magnuson:things made it an easier process.
Kyle Seagraves:Yes.
Kyle Seagraves:Yeah.
Kyle Seagraves:the sensationalism of the market is kind of old news.
Kyle Seagraves:like you hear it once and you've kind of heard it already.
Kyle Seagraves:is that how that saying goes?
Kyle Seagraves:How's that saying?
Kyle Seagraves:Go, uh, like.
Kyle Seagraves:You don't need to keep hearing the same thing over and over and over again.
Kyle Seagraves:Uh it's like, well, okay, what can we do?
Kyle Seagraves:And, and a lot of that is really kind of just fully embracing
Kyle Seagraves:the reality of the situation.
Kyle Seagraves:I think for a lot of finance, people are either afraid of the reality of their
Kyle Seagraves:situation or just the external situation.
Kyle Seagraves:And they kind of get paralyzed by it and saying, well, the market
Kyle Seagraves:is tough, so I can't do anything.
Kyle Seagraves:Yeah, but what's within your control to do like, okay.
Kyle Seagraves:The market is tough.
Kyle Seagraves:All right.
Kyle Seagraves:What am I gonna do about that?
Kyle Seagraves:Am I going to sit and just be paralyzed by it and expect
Kyle Seagraves:that some change to change me?
Kyle Seagraves:Or are there things that I can do within my control?
Kyle Seagraves:And maybe you're like, you know what?
Kyle Seagraves:I can't buy a house with these prices.
Kyle Seagraves:I can't say for a down payment that quick.
Kyle Seagraves:Okay.
Kyle Seagraves:Well, there's so much more that we can do to become more healthy financially
Kyle Seagraves:rather than just buying a home.
Kyle Seagraves:That's not the pinnacle of financial success.
Kyle Seagraves:right.
Kyle Seagraves:So it's like, okay, well what's within our control.
Kyle Seagraves:Is that a goal we still wanna work towards in the future?
Kyle Seagraves:And are there other things that you can set up in your finances in the meantime,
Kyle Seagraves:if you're not able to move forward with buying a house at the moment?
Katelyn Magnuson:I think too, and I, I'm not a huge proponent of
Katelyn Magnuson:just find a cheaper place to live.
Katelyn Magnuson:Great.
Katelyn Magnuson:That might be an option for some people.
Katelyn Magnuson:Right.
Katelyn Magnuson:But it's also then potentially raising values in the area.
Katelyn Magnuson:Like we've seen that happen here in the Boise area.
Katelyn Magnuson:Right?
Katelyn Magnuson:Our market is like, I think they said it was 70% over inflated or something.
Katelyn Magnuson:Absolutely ridiculous.
Katelyn Magnuson:Especially for the average cost of living here, I think so many of us, and
Katelyn Magnuson:I think I've encountered this a lot.
Katelyn Magnuson:I don't know if you have, but being a woman in her now, early thirties, there
Katelyn Magnuson:have been a lot of expectations pushed on me having kids, getting a house, you know,
Katelyn Magnuson:doing the very standard domestic thing.
Katelyn Magnuson:And I think for a lot of us unpacking, what's expected of us versus what
Katelyn Magnuson:we actually want is something that we should all be doing, especially
Katelyn Magnuson:before making large purchases like buying a house because I know.
Katelyn Magnuson:A couple of people that have bought that.
Katelyn Magnuson:It wasn't for them, they'd way rather rent they'd way rather have, uh, an RV
Katelyn Magnuson:and travel part of the year and then have that as their, you know, home base.
Katelyn Magnuson:But if it's something that you want, maybe that does mean you job hop,
Katelyn Magnuson:maybe it does mean you look for a more affordable area that meets what you're
Katelyn Magnuson:earning, you know, potential is, or I don't know your thoughts on this,
Katelyn Magnuson:but I've been thinking about it a lot.
Katelyn Magnuson:Or you look to do some sort of, you know, co-housing setup or buy an
Katelyn Magnuson:apartment complex with some people where you could actually like there's,
Katelyn Magnuson:you know, there there's options.
Katelyn Magnuson:I think that getting creative, especially when you're, you're in
Katelyn Magnuson:a high cost of living area, but also just taking action every day.
Katelyn Magnuson:Are you applying for jobs that have higher pay?
Katelyn Magnuson:Are you looking for jobs that have the same pay that have fewer working hours?
Katelyn Magnuson:Like there are things that you can be doing to increase your
Katelyn Magnuson:earning potential and improve your financial situation while moving
Katelyn Magnuson:you towards whatever your goals are.
Kyle Seagraves:Yes.
Kyle Seagraves:A absolutely because like, unfortunately the, the environment
Kyle Seagraves:around us, our external environment is not going to just change to make.
Kyle Seagraves:Easier to buy.
Kyle Seagraves:And it, I think that's what a lot of people are holding onto
Kyle Seagraves:is that like, if I just sit here, then everything is gonna change.
Kyle Seagraves:It's gonna be easier.
Kyle Seagraves:and I just don't really like to live my life in that way.
Kyle Seagraves:because I just haven't found that to be true.
Kyle Seagraves:Um, like there absolutely are, are tons of things in my life that like
Kyle Seagraves:have been gifted and are like, I feel like I'm in a very privileged
Kyle Seagraves:position, but at the same time, I can't just sit back and expect that
Kyle Seagraves:everything is going to be handed to me.
Kyle Seagraves:And so it's like, well, what is within my control to actually create
Kyle Seagraves:the first job I had, I would not be able to afford the house that
Kyle Seagraves:I'm buying currently if I had that.
Kyle Seagraves:So I said to, I knew in that position, like, okay, I need to spend the
Kyle Seagraves:next five years working towards.
Kyle Seagraves:Getting an income and building a business that actually allows me to pay
Kyle Seagraves:for a specific lifestyle that I want.
Kyle Seagraves:Um, and I, I think that is true for, especially in people in higher
Kyle Seagraves:cost areas of living where it's like, yeah, the, those markets are
Kyle Seagraves:probably aren't going to decline.
Kyle Seagraves:Um, and even if they do, they're still gonna be really hard to access.
Kyle Seagraves:And if that's where you wanna stay, like, okay, great.
Kyle Seagraves:But we have to figure out what's what can actually change, uh, in those situations.
Kyle Seagraves:And I think you, you nailed it too with like figuring out what do I actually want?
Kyle Seagraves:a friend of mine who, who bought the like one 30 house that's now worth like
Kyle Seagraves:two 80 or they just sold it for two 80.
Kyle Seagraves:they have like a, a decent size amount of land.
Kyle Seagraves:That's like an, an acre or two just enough to feel a little more private.
Kyle Seagraves:They kind of did the thing where it's like, oh, what everyone expects
Kyle Seagraves:of us the next home we would need to get, it needs to be bigger and
Kyle Seagraves:better, more land and more money.
Kyle Seagraves:And they, the house they were looking at was about half a million.
Kyle Seagraves:And then they, they came back afterwards and were like, after they looked
Kyle Seagraves:at it and were like, oh, we don't.
Kyle Seagraves:Actually you want that, like, we, this is what everyone else wanted for us.
Kyle Seagraves:And they kept saying, oh, it'll be nicer when you can afford an even more
Kyle Seagraves:land, you know, all these other things.
Kyle Seagraves:And then they were like, what we actually realized we wanted is a smaller
Kyle Seagraves:house and we wanna live downtown.
Kyle Seagraves:We didn't wanna have the land with the bigger house, with all the things.
Kyle Seagraves:We wanted, little space living closer to people that's much more afford.
Kyle Seagraves:Even though they could afford the half a million.
Kyle Seagraves:They're like, well, we want to go buy another house that's for one 70.
Kyle Seagraves:Um, and so it, it is just interesting to see when you actually
Kyle Seagraves:do come back in alignment with like, what do I actually want?
Katelyn Magnuson:no, and I, I don't think that happens enough.
Katelyn Magnuson:I think so many of us just kind of blindly hop from one societal familial,
Katelyn Magnuson:you know, friend expectation to the next, without stopping to think.
Katelyn Magnuson:And I think with the high cost of living areas, there are also ways.
Katelyn Magnuson:That you can, you know, modify what you want.
Katelyn Magnuson:Cool.
Katelyn Magnuson:You want that, you know, three bedroom penthouse in wherever, why don't we
Katelyn Magnuson:start with a studio that you can buy?
Katelyn Magnuson:Why don't we start?
Katelyn Magnuson:Like where, where can you start?
Katelyn Magnuson:Where can you get, you know, two millimeters of the way
Katelyn Magnuson:towards what you wanna be doing?
Katelyn Magnuson:Because I I've been guilty of this for sure.
Katelyn Magnuson:Being like, well, I want this, but my budget is like a 10th of this.
Katelyn Magnuson:Where can we start?
Katelyn Magnuson:Where can it be appreciating?
Katelyn Magnuson:Where can we just.
Katelyn Magnuson:Also figuring out if that's what we want, if we wanna be living in that area, if
Katelyn Magnuson:we like that lifestyle, if we like that type of house, because where I live and
Katelyn Magnuson:the property that we have and the chores that go along with it and the maintenance
Katelyn Magnuson:and the upkeep are not everyone's dream.
Katelyn Magnuson:Some people don't wanna have to maintain a yard and have outside
Katelyn Magnuson:chores probably every other day that have to be done or they just build up.
Katelyn Magnuson:But for other people, that's, you know, they wouldn't wanna do anything
Katelyn Magnuson:else and they'd feel stifled in a.
Kyle Seagraves:Yeah.
Kyle Seagraves:The, and the one is so much sexier in our head than it is in reality.
Kyle Seagraves:because, I mean, remember, think of about the last time that you were
Kyle Seagraves:like, oh, I really wanted something.
Kyle Seagraves:And then you finally got it.
Kyle Seagraves:And that was exciting for maybe like a week, maybe, maybe even
Kyle Seagraves:like a few months or a year.
Kyle Seagraves:And now it's kind of like, oh yeah, that was, I'm kind of done with that.
Kyle Seagraves:And I moved on, I, I think the same thing can happen with housing too is
Kyle Seagraves:like a lot of people like wanna joke about, uh, you know, date in Ohio.
Kyle Seagraves:Like that's where I live.
Kyle Seagraves:It's like a smaller Metro area, but I really like it.
Kyle Seagraves:It's a fantastic speed for me.
Kyle Seagraves:And only an hour drive from two even bigger cities.
Kyle Seagraves:And the cost of living is super low that I can go travel wherever I want
Kyle Seagraves:to.
Kyle Seagraves:And so I think a lot of people, like I would try those things.
Kyle Seagraves:First of how can you get the little snippets of the lifestyle that you want
Kyle Seagraves:without actually having to live there?
Kyle Seagraves:Like for instance, I, I like big cities.
Kyle Seagraves:I like going to big cities and exploring them.
Kyle Seagraves:And so I thought, well, if I like big cities, I need to live in a big city.
Kyle Seagraves:And I thought that for so long.
Kyle Seagraves:And then, uh, I , I've had a, you.
Kyle Seagraves:Obviously been to cities and like spent time in them for a little bit.
Kyle Seagraves:And I remember like a couple months ago I went on a trip, uh, to, uh,
Kyle Seagraves:even Cincinnati, like not even a huge city, but stayed the night there.
Kyle Seagraves:And then I, after a few days, I was like, I'm done.
Kyle Seagraves:I don't wanna interact with anymore people.
Kyle Seagraves:I like I'm out of this.
Kyle Seagraves:I can.
Kyle Seagraves:And I remember thinking, like, I can't imagine if I
Kyle Seagraves:moved there with this thought.
Kyle Seagraves:And then regretted it because it was actually too much because what I like,
Kyle Seagraves:I like being able to visit cities.
Kyle Seagraves:I don't like living directly in the city and maybe this, the opposite is true.
Kyle Seagraves:Like maybe it's like, I like having more space around me.
Kyle Seagraves:Okay.
Kyle Seagraves:Are there activities that we can do in the place that you
Kyle Seagraves:live that's affordable for you?
Kyle Seagraves:That you can experience those more?
Kyle Seagraves:It doesn't have to be.
Kyle Seagraves:I don't have to live in a thing that I like all the time.
Kyle Seagraves:Right.
Kyle Seagraves:Like I like going like California is one of my favorite places.
Kyle Seagraves:I don't have to live there to enjoy it.
Katelyn Magnuson:right.
Kyle Seagraves:Living here affords me to be able to go there
Kyle Seagraves:kind of as much as I want to.
Katelyn Magnuson:Well, and probably have a better quality of life overall,
Kyle Seagraves:yeah,
Katelyn Magnuson:too.
Katelyn Magnuson:I think you're not having to feel stressed.
Katelyn Magnuson:Yeah,
Kyle Seagraves:yeah, because the opposite would be like, my housing
Kyle Seagraves:would be so expensive there that I wouldn't be able to go anywhere else.
Katelyn Magnuson:exactly.
Katelyn Magnuson:You'd be stuck in the place that you like to visit and then it kind of can sour.
Katelyn Magnuson:I think your, your feelings towards it.
Katelyn Magnuson:I feel very much the same way when we travel.
Katelyn Magnuson:I have zero issues staying in the city.
Katelyn Magnuson:Like I wanna be walking distance, you know, get out, do all the things live
Katelyn Magnuson:in the apartments, above all the shops.
Katelyn Magnuson:I think it's great on vacation by about two or three weeks in.
Katelyn Magnuson:and the third weekend of partying until two or 3:00 AM or later if you're
Katelyn Magnuson:in Europe and it's like 6:00 AM and everyone's wandering home and I'm over it.
Katelyn Magnuson:And I'm craving like the silence and the solitude and to not see
Katelyn Magnuson:another human being for like three more weeks, but it is, it's nice.
Katelyn Magnuson:It keeps it special for me to go do that.
Katelyn Magnuson:And I think figuring out which environment you thrive in better, or which environment
Katelyn Magnuson:you thrive in, that allows you to have the most balanced or well rounded life for.
Katelyn Magnuson:which, like you said, you can still go do all the things because you have a
Katelyn Magnuson:moderate cost of living with the majority of the amenities that you're looking for.
Kyle Seagraves:mm-hmm . Yeah.
Kyle Seagraves:Yeah.
Kyle Seagraves:And I think kind of an underlying theme of this episode a lot has been
Kyle Seagraves:really kind of just accepting what is.
Kyle Seagraves:You know, we might want to be somewhere else, uh, whether that's
Kyle Seagraves:financially or, with the house that we live in or whatever that is like,
Kyle Seagraves:but the reality of the situation might not align with what we want.
Kyle Seagraves:and that's okay.
Kyle Seagraves:Like we can work towards that, but it doesn't mean that we can't
Kyle Seagraves:also find enjoyment with where we're at or saying like, you know
Kyle Seagraves:what, I'm not where I want to be.
Kyle Seagraves:Maybe financially, I'm not where I wanna be relationally.
Kyle Seagraves:I'm not where I wanna be, but I can make steps every day to work
Kyle Seagraves:towards the things that I want and can still find contentment here.
Kyle Seagraves:Because if the contentment enjoys, always pushed out into the moment in
Kyle Seagraves:the future, and we do this all the time, whether it's, Well, I need to
Kyle Seagraves:get engaged and I need to get married.
Kyle Seagraves:Then I need to have kids or it's.
Kyle Seagraves:I need to have, uh, this house, I need to have the dream house.
Kyle Seagraves:Like we are always pushing the joy into the future.
Kyle Seagraves:You'll never, even when you get that thing, be able to
Kyle Seagraves:experience the joy because it's always gonna be, well, there was actually one
Kyle Seagraves:other thing I could add onto that to make me happy so we can work towards
Kyle Seagraves:the things that we want, but also be able to find happiness and joy in
Kyle Seagraves:working towards what we want in the.
Katelyn Magnuson:absolutely.
Katelyn Magnuson:I couldn't agree.
Katelyn Magnuson:More and contentment and gratitude and being okay with the dichotomy.
Katelyn Magnuson:wanting to change your circumstances, but also appreciating where you are
Katelyn Magnuson:now, where you've come from and what you have accessible to you at this
Katelyn Magnuson:current point in time, I think is so important because we've all done.
Katelyn Magnuson:It.
Katelyn Magnuson:We've all blown past that hit those goals, exceeded everything and.
Katelyn Magnuson:It's just, it's boring now.
Katelyn Magnuson:It's not exciting.
Katelyn Magnuson:We've done it.
Katelyn Magnuson:We've been there.
Katelyn Magnuson:What's the next thing.
Katelyn Magnuson:What's the, we see it in business a lot.
Katelyn Magnuson:I think too.
Katelyn Magnuson:Oh, I hit a hundred thousand.
Katelyn Magnuson:Well, now it's a quarter million.
Katelyn Magnuson:Well, now it's 500.
Katelyn Magnuson:Are you actually doing what you wanna be doing?
Katelyn Magnuson:Like, do you have a business that you like running?
Katelyn Magnuson:Is it running your life?
Katelyn Magnuson:Like
Katelyn Magnuson:why, why are we doing it?
Katelyn Magnuson:Is it just vanity metrics?
Katelyn Magnuson:And we do the same thing in our lives.
Katelyn Magnuson:Like, are we buying like your friends who, I mean, kudos to.
Katelyn Magnuson:For taking the time to acknowledge that they didn't want the bigger
Katelyn Magnuson:house, the bigger property, the bigger responsibilities, and taking
Katelyn Magnuson:what some would see as a step back, but is really a step, you know,
Katelyn Magnuson:into their more ideal lifestyle.
Katelyn Magnuson:And that's amazing.
Katelyn Magnuson:I mean, I think so many of us need to just pause and think and unpack all
Katelyn Magnuson:the shit that we've learned or been told and just do what we wanna do.
Katelyn Magnuson:And I think some.
Katelyn Magnuson:I think it, it can be hard because people will, and I think it goes back to what
Katelyn Magnuson:you said to Kyle and I, I don't know, two episodes ago, like don't involve everyone
Katelyn Magnuson:in your personal decisions, right?
Katelyn Magnuson:Like get the facts, decide what, and I mean, this goes for so many things,
Katelyn Magnuson:but like become educated if you're not already educated and knowledgeable
Katelyn Magnuson:in whatever you're looking to do.
Katelyn Magnuson:Sit with it, make the decision that feels good for you.
Katelyn Magnuson:And then cool.
Katelyn Magnuson:Notify the people that like need to be notified, but live your own life.
Katelyn Magnuson:You're not, you're not out here like being a sponge soaking in everyone
Katelyn Magnuson:else's opinions and ideal lifestyles.
Katelyn Magnuson:Cuz you're gonna end up with a
Kyle Seagraves:Yeah,
Katelyn Magnuson:look like yours.
Kyle Seagraves:yeah, absolutely.
Katelyn Magnuson:Love it.
Katelyn Magnuson:Okay.
Katelyn Magnuson:Well, Kyle, since this is our last episode in the season, it's in the notes, but
Katelyn Magnuson:can you remind everyone where they can find you and learn more about the home
Katelyn Magnuson:buying process and loans and everything that we've chatted here, but in a much
Katelyn Magnuson:deeper and more flushed out level.
Kyle Seagraves:Yes, absolutely.
Kyle Seagraves:I have over 270 videos on home buying on my YouTube channel, uh, called win the
Kyle Seagraves:house you love and it's not a raffle.
Kyle Seagraves:You're not gonna, I'm not gonna, you don't enter anything.
Kyle Seagraves:I'm not gonna give you a house.
Kyle Seagraves:Uh, sometimes I forget that it seems that way.
Kyle Seagraves:Um, kinda the premise behind when the house you love is like, Hey, first of
Kyle Seagraves:all, we don't have to buy the dream house.
Kyle Seagraves:We can just buy in the house that we love at the moment.
Kyle Seagraves:Um, and then also you're competing against other home buyers.
Kyle Seagraves:And that's why it's important to arm yourself with the truth about your
Kyle Seagraves:situation and having more understanding of home buying, because the more
Kyle Seagraves:knowledgeable you are about your situation and about home buying, how
Kyle Seagraves:that works, how the mortgage process works, how you can put in a better offer,
Kyle Seagraves:the more likely you'll be able to win.
Kyle Seagraves:The home that you want, the home that you love at that moment against other buyers
Kyle Seagraves:who want the same house that you do.
Kyle Seagraves:So win the house you love on YouTube, or you can go to win the house.
Kyle Seagraves:You love.com.
Kyle Seagraves:Um, have a couple extra resources there as well.
Katelyn Magnuson:I love that.
Katelyn Magnuson:Okay, Kyle, thank you again.
Katelyn Magnuson:Go give Kyle a follow a subscribe, a subscribe on YouTube, right?
Katelyn Magnuson:Yeah.
Katelyn Magnuson:Subscribe.
Katelyn Magnuson:Like follow subscribe, do all the things over on Kyle's YouTube because
Katelyn Magnuson:he has a wealth of information.
Katelyn Magnuson:So thank you.
