06 Aug Back to School with Billy Madison from The Bibel Team
Billy: Sun tan lotion, good for me. Sun tan lotion, tehehe. Ultra-violet rays bad. Sunscreen good! I think shampoo is better. I make sure the hair is nice and clean. No, conditioner is better. I make sure it’s nice and silky smooth before you leave. Quit staring at me, swan.
Dad: Billy, I think it’s time for you to get your own place.
Billy: Shut up. That’s easy.
Dad: I don’t know. Billy, there’s a lot to learn about buying a house. I don’t know if you’re ready.
Billy: Challenge accepted. Back to school, back to school so I can buy my house with a brand new pool. Got my lunch, packed up. My boots tied tight. I hope I don’t get in a fight.
Eric: All right, Billy, first question. Do you need 20% down to buy a house?
Billy: No! You could save as little as zero.
Eric: Correct. Next question. Is it cheaper to rent or buy?
Billy: To buy. If you look at rent projections buying more often than not is cheaper in the short term and long.
Eric: Correct. Last question, Billy. This one is worth 50 points. True or false. Are home values over inflated?
Billy: False. Supply is, underserved, and demand is overly high, due to new housing formations?
Eric: That is correct.
Billy: I am the smartest man alive!