America will become a renter nation. We will own nothing and be privileged to be in that position. We will have no other options.
I read a quote by Grant Cardone stating that we should expect 100-year home mortgages before the next century. And he is absolutely correct.
In the meantime, 40-year mortgages will become the norm. Things are not going in your favor. Corporations and institutions are buying up single-family residences by the truckload. Will our kids ever be able to purchase a home?
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The answer is staring right at us. When I read this article, I began to think of ways to stay ahead of the power curve. We cannot remain stagnant.
We already own three properties, all with low-interest-rate mortgages. But is that enough? Do we just call it quits and celebrate the little piece of the pie we already own?
The answer is that we must continue to push the narrative forward. My kids may already own a home, but what about our grandkids?
My wife and I are considering moving to Turkey full-time. This will cut our living expenses in half, allowing us to build a million-dollar dividend portfolio in five years or less.
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The problem with this scenario is that I would leave with my first kid in America by himself. He will soon join the military, and I remember how lonely it is not to have family nearby.
Straddling the line. My wife’s family lives in Turkey, behind the power curve. If we move there, they will instantly be in the wealthy class.
So, the answer for our family is to keep households in Turkey and America. Ideally, once my firstborn can take over our primary residence, we can move to Turkey full-time and accumulate wealth—living far below our means.
As we straddle both continents for the next 5-10 years, what are our options to continue to build wealth? My wife can move to Turkey ahead of me, and I can rent her master suite to someone.
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The $1,300 I can make from renting this room would be enough to rent a large home in Turkey. We must be open to any and all possibilities.
The moral of the story is to keep moving forward because we will become renters if we don’t. There is no time to play around. Capitalism is coming for our children’s futures, so what will we do about it?
Becoming capitalist. The most crucial part of surviving in America is becoming a capitalist yourself. There simply is no other option.
When I ask if families should live together, it’s about being in a position of power, not weakness. Is it weak for us to help each other rise?
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Elizabeth Warren predicted this housing outcome in 2005’s “The Two-Income Trap.” The capitalists convinced every household to have two working parents; then, they doubled the prices in the suburbs. Now, we are trapped.
The only way out is to combine households. The numbers are in; housing, childcare, medical, and college tuition are increasing.
How can one family cover all these expenses while saving for retirement and a home? Let’s take a look at the magic of combining resources.
Two families, one household. How much space does a family of four need? After living overseas for over 11 years, I would say a family of four needs a three bed, two bath, 1,000 square foot home.
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I think most young couples would agree; however, they don’t make these “tiny” homes anymore. Instead, they want you in a jumbo home with a jumbo mortgage (at 7%).
Let’s say we have Family #1, which brings in $8,000 monthly and pays $3,000/month in rent. They also spend $2,000 a month in childcare. Family #2 has the same exact stats. What happens when they combine?
Now, they bring in $16,000/month to cover $3,000 in housing costs. With these increased income numbers, how soon will they be able to buy a home?
Then, they can continue this method until they own both homes. As the kids grow up, they can do the same with their families until they own their place. Can this work?
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It worked for us. In 2019, my family of four was in debt ($77,000). We got roommates for 4.5 years that covered most of our housing costs.
Suddenly, we were out of debt and had a $200,000+ dividend portfolio. I retired from the military, and my wife and I no longer need to work (ages 42 and 39).
So, yes, living together works. However, it won’t be the most comfortable position physically. But, financially, all parties will be better than ever.
The middle-class trap. America convinced the middle class that they “deserve” things that rich people have. This includes standalone, detached, single-family residences with a yard, two fancy cars, and luxury vacations.
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Very few people understand how much work it actually takes to obtain this quality of life—and maintain it. Even fewer realize the importance of building assets for their children as well.
If you don’t understand how passive income works, you’ll simply work until you die. There is no other option.
Every year, your property taxes, home insurance, car insurance, registration, road tax, food, subscriptions, etc., will increase in price.
How can you keep up with 30 to 40% increased cost when your job only gives you a 3% cost-of-living raise annually? You can’t keep up; you fall behind. Your children fall behind.
We can divide childcare, housing, and transportation responsibilities when we work and live together. Why would we need four cars when we can have two?
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Two people can work outside the home; one can work remotely, and the other can supervise kids’ movements and childcare. It’s absolutely beautiful.
Our perception of the middle class. The only thing keeping us from obtaining this utopia is ourselves. We can’t blame the capitalist. They came in and divided our families under the guise of “individualism.” We took the bait.
Now, they don’t even want us to have babies or get married. They want us to live in 400 square feet homes, go to work, and pay 40% in taxes.
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The next time you see a high-rise apartment building, look at it as a camp for indentured servants—that’s what we have become.
Conclusion. Now envision a large three-acre lot with three lovely mobile homes. They have a huge covered patio connecting them.
The land has goats, chickens, and a place for bees to gather and pollinate. One household runs a homeschool for six children. The other is in charge of sustainable living. Finally, the last family climbs the corporate ladders, ensuring they stay up-to-date with the new workforce.
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This vision is powerful and one I have for my wife, two kids, and future grandkids. We already own two properties with over three acres (Arizona, Florida).
For our vision to succeed, my wife and I must keep pushing. Capitalism doesn’t let you stay still. Inflation is the cost of being alive.
So we keep thinking of ways to support two families far apart from one another. As long as we keep moving forward and staying positive, things will go our way.
What is your vision for your family? Is it to keep your siblings, kids, and grandkids close? Or should they go and build their own dynasty? Your vision will determine theirs. Good Luck!
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