Should I Buy A House?

What is the classic image associated with 'The American Dream'?

• A high-rise condo

• A suburban home with a white picket fence

• A large urban apartment

• A beachfront property

Why is home ownership considered a long-term investment?

• It provides a stable job

• It guarantees high returns

• It offers a place to live and builds equity

• It comes with no financial risks

What has significantly increased for millennials compared to previous generations?

• Job security

• Student loan debt

• Investment in stocks

• Income levels

What is a critical factor to qualify for good mortgage terms?

• Owning a car

• A credit score of 760 or higher

• Having no previous loans

• Having a part-time job

Why might buying a home quickly become financially risky?

• High property taxes

• Constant increase in property value

• Most of the initial payments go towards interest

• Low interest rates on loans

What could be a financial consequence if Ramon loses his job after buying a home?

• He could easily sell the house for profit

• He would pay off the mortgage faster

• He might struggle to meet mortgage payments

• His credit score would increase

What is an advantage of not owning a home according to the video?

• Responsibility for maintenance costs

• Higher travel costs

• Increased property taxes

• Flexibility in relocating for job opportunities

What investment alternative is suggested for those not purchasing a home?

• Buying luxury goods

• Investing in a 401(K) or owning a company

• Saving under the mattress

• Spending on entertainment