COVID Made The Wealth Gap WORSE

This was a short clip from a longer conversation I had with a friend in late November 2024, and I think the point at the end is the one that matters most for your family, whatever your politics.

The conversation was about the pandemic stimulus. My view, and I want to be clear that it is my view, is that all of that free money went through the hands of lower to moderate income households and back into the pockets of wealthier people who already owned assets. The people who held assets did well, and the people who did not mostly saw the money go out again, through higher prices. That is a worry I have about the gap between those who own things and those who do not, and reasonable people see it differently.

What I want you to take from it is simple. People have to look at what has been happening and make sure they buy assets. It is really simple. Stop buying things that go down in value. Get rid of debt. Take your money and buy things that go up in value. For most families, the biggest asset they will ever buy is a home, and for many, the biggest drain is high interest debt.

You and I cannot change who is going to be president or what they do. But we can look at history, and we can make better decisions to take care of our family. That is what I really talk about when it comes to politics. I do not care who you vote for. I care about the quality of your life, your finances, and where you are heading. If you take some time and look at the truth and look at history, you can make better decisions, not about who you vote for as much as how to benefit your family no matter who gets into office.

I do not want to make this complicated. If you have debt that is costing you a lot every month, ask whether there is a way to restructure it. If you are renting and have been told you cannot buy, ask whether there are programs you have not seen. And if you own a home that has gained value, think of it as an asset that is working for you.

I have talked to many families whose situation looked impossible until we looked at all of the options. It is a conversation I am glad to have. You can start with first-time buyer options or get your rate, and tell us where you are. MortgageOne is now licensed in 49 states.