Dave Ramsey warns housing crash is unlikely and urges buyers to cut debt
Updated
Updated · FinanceBuzz · Apr 27
Dave Ramsey warns housing crash is unlikely and urges buyers to cut debt
6 articles · Updated · FinanceBuzz · Apr 27
He says home inventory is at its tightest relative to buyers in 25 years, making the chance of a big price correction effectively zero.
Ramsey argues car, student and credit-card debt is blocking younger Americans from homeownership more than prices alone, and says buyers should focus on eliminating debt first.
For those ready to buy, he recommends a 15-year fixed mortgage, 20% down and payments under 25% of take-home pay, as 30-year rates sit around 6.3% to 6.7%.
With home prices falling in some cities, is Dave Ramsey’s “no crash” advice dangerously out of touch for today's buyers?
Is Ramsey’s strict advice ignoring smarter paths to homeownership through modern loans and government assistance programs?