WE'RE BROKE AND HOUSE POOR

@mike.zeroh7

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SoundTikTok sound · original sound - mike.zeroh7

Why it worked

The video likely resonated due to its relatable "house poor" narrative and the creator's vulnerability in sharing a difficult personal financial situation. The story touches on common anxieties about homeownership, unexpected life events, and the impact of broader economic trends, making it highly shareable.

Summary

The creator shares a personal story about financial struggles after buying a house in 2021. Despite both partners working full-time, circumstances changed when the creator became pregnant and took a PRN nursing job without paid maternity leave. This led to them moving in with parents and renting out their house, only for the tenants to trash it and break the lease early. Now, they are paying a mortgage on a house they don't live in while also dealing with the aftermath of the tenants' actions and the broader economic climate of high interest rates and inflated housing prices.

Structure

1Introduction of financial hardship and being "house poor".
2Recounting the purchase of a house in 2021 and initial financial stability.
3The impact of pregnancy and a change in job status.
4The tenants' actions leading to financial strain and moving back with parents.
5The current situation of paying a mortgage on an unlived-in house.
6Explanation of the broader economic context of high interest rates and housing prices.

On-screen text

WE'RE BROKE AND HOUSE POOR I CANNOT BELIEVE WORDS TO THE I THOUGHT I THIS OUT THERE IT'S KIND OF THINGS THAT I DON'T WANT ANYONE TO KNOW BUT HERE WE SO LET'S REWIND TELL OUR STORY SO WE BOUGHT OUR HOUSE IN 2021 I WAS WORKING MY HUSBAND WAS WORKING FULL TIME AND OUR CIRCUMSTANCES WERE JUST DIFFERENT SO AT THE WORKED FOR US AND THEN UM IN 2024 WE BABY AND SO THINGS I ENDED UP JOB THAT WAS I WORKED AS JUST AS NEEDED I WAS MAKING MORE MONEY THAN MY PREVIOUS JOB EVEN WORKING LESS WHICH WAS FANTASTIC BUT I GOT PREGNANT WHILE I WAS WORKING AT THAT JOB AND WORKED ALL THROUGHOUT MY PREGNANCY VERY END BUT THE THING ABOUT WORKING A PRN NURSE JOB YOU DO NOT GET PAID MATERNITY AND I WAS THIS SO I KNEW WE COULDN'T STAY IN OUR HOUSE ON MATERNITY LEAVE SO WE ENDED UP MOVING IN WE WERE BOTH SICK AND I WAS SIX MONTHS PREGNANT MOVING AND WE RENTED OUR HOUSE OUT SO WE MOVED PARENTS DURING THAT TIME AND SOMEONE WAS RENTING OUR HOUSE MOVING OUT IN BROKE THE LEASE EARLY LEFT US IN A HORRIBLE MESS TRASHED OUR HOUSE DIDN'T PAY THEIR SECURITY DEPOSIT OR DIDN'T PAY THEIR FEE FOR BREAKING THE LEASE COMPLETELY GHOSTED US A MESS AND WE HAVE BEEN PAYING FOR SO FROM AUGUST OF LAST YEAR THIS YEAR pAYING A MORTGAGE FOR A HOUSE IN NOW I KNOW THAT SOUNDS CRAZY BUT WE WOULD NOT AFFORD OUR HOUSE ALSO PAYING A FULL ELECTRIC BILL AND EVERYTHING ELSE THAT COMES ALONG YOU WHAT HAPPENED IN 2000 AND 2000 22,022 AND 2022 AND SO ON AND SO FORTH I WAS WORKING AT A BANK AT THAT TIME UH I HAD REJOINED THE WORKFORCE BECAUSE THEY MADE ME AN OFFER AND U X I TO BUILD MY OWN TEAM THAT I COULDN'T REFUSE FOR FLAGSTAR WHICH THEN MERGED WITH NEW YORK COMMUNITY BANK AND I RETIRED AT THE END OF 2024 ON DECEMBER 31ST BUT LET ME WHAT HAPPENED AT THAT TIME THE BANKS ACCELERATED THROUGH LOW INTEREST BECAUSE THE BIDEN ADMINISTRATION WAS TRYING TO MAKE KEPT THE ECONOMY HUMMING THE BANKS ACCELERATED PEOPLE BASICALLY EITHER TAKING OUT A HE LOCK OR PURCHASING HOMES PEOPLE PURCHASED HOMES WAY ABOVE ASKING PRICE EVEN $140,000 OVER EVEN $110,000 OVER ASKING PRICE IN ORDER TO LOCK IN THOSE LOW INTEREST RATES ALSO BOUGHT HOMES WAY ABOVE THE TOP OF THE MARKET GUYS SEE HAPPENING RIGHT NOW IS PEOPLE ARE STUCK IN HOMES THAT EITHER A THEY CAN'T REALLY PAY FOR FOR SOME SORT OF SUBSIDIZED LIVING SITUATION OR THEY CAN'T SELL THEIR HOMES FOR TWO REASONS RIGHT THE TWO REASONS THEY CAN'T SELL THEIR HOMES IS BECAUSE THEY DON'T HAVE ENOUGH TO BE ABLE MOVE INTO A CHEAPER PLACE THAT WOULD THEN CAUSE THEM TO YOU KNOW MORTGAGE INTEREST RATE BETWEEN A 6 AND 7% MARK AS OF THE VIDEO BECAUSE THEY GOT SO SOLO SOLO INTEREST RATES BACK SAME TIME THEY'RE STUCK A HARD PLACE BECAUSE THEY PURCHASED THE HOUSE ABOVE THE TOP OF WHATEVER THE THE THE PURCHASE PRICES ARE

Original caption

Our Savings Is Gone and I m House Poor... Woman Having Trouble Selling Her Home She Bought In 2021#antondaniels #housepoor #broke #woman #viral

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Transcript

WE'RE BROKE AND HOUSE POOR I CANNOT BELIEVE I'm saying those words to the internet. I thought I would never put this out there. It's kind of one of those things that I don't want anyone to know, but here we are. So let's rewind and I will tell our story. So we bought our house in 2021. I was working, my husband was working full time and our circumstances were just different. So at the time, this house worked for us. And then, um, in 2024, we decided we wanted to have a baby. And so things changed. I ended up getting a new job that was PRN. I worked as needed. I was making more money than my previous job, even working less, which was fantastic. But I got pregnant while I was working at that job and worked all throughout my pregnancy up until the very end. But the thing about working a PRN nurse job, you do not get paid maternity. And I was well aware of this. So I knew we couldn't stay in our house on maternity leave. So we ended up moving in, we were both sick and I was six months pregnant moving. And we rented our house out. So we moved in with my parents during that time and someone was renting our house. They ended up moving out in July, broke the lease early, left us in a horrible mess, trashed our house, didn't pay their security deposit or didn't pay their fee for breaking the lease, completely ghosted us, left us in a mess and we have been paying for. So from August of last year, this year, we have been paying a mortgage for a house that we don't live in. Now, I know that sounds crazy, but we would not afford our house also paying a full electric bill and everything else that comes along. Let me tell you what happened in 2000 and 2022 and 2022 and so on and so forth. I was working at a bank at that time. Uh, I had rejoined the workforce because they made me an offer and UX to build my own team that I couldn't refuse for Flagstar, which then merged with New York Community Bank. And I retired at the end of 2024 on December 31st. But let me tell you what happened at that time. The banks accelerated through low interest because the Biden administration was trying to make kept the economy humming. The banks accelerated people basically either taking out a HELOC or purchasing homes. People purchased homes way above asking price. I've seen some even $140,000 over even $110,000 over asking price. In order to lock in those low interest rates, also bought homes way above the top of the market. You guys see happening right now is people are stuck in homes that either they can't really pay for, for some sort of subsidized living situation, or they can't sell their homes for two reasons, right? The two reasons that they can't sell their homes is because they don't have enough to be able to move into a cheaper place that would then cause them to, you know, mortgage interest rate between a 6 and 7% mark as of the video. Because they got so solo solo interest rates back then, but at the same time, they're stuck between a hard place because they purchased the house above the top of wherever it is, whatever the the purchase prices are.