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And for others, homeownership can come in the form of a mobile home.
He understands that many Americans are in a class where only a mobile home seems affordable.
However, its a simple math thing, Ramsey said.
[Mobile homes] go down in value.
When you put your money in things that go down in value, it makes you poorer.
Ramsey warned viewers that this is a trap, because mobile homes are a bad investment.
The piece of dirt goes up in value faster than the mobile home goes down, Ramsey said.
So it gives you the illusion that you make money.
The dirt just saved you from your stupidity.
Ramsey explained, At least [when you rent], you arent losing money while youre paying payments.
When you pay payments on a mobile home, you pay payments and youre losing.
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