Dave, How Is It Ethical For You To Own Multiple Homes?

Summary

Podcast Summary: The Ramsey Show Highlights – "Dave, How Is It Ethical For You To Own Multiple Homes?"

Episode Details:

• Title: Dave, How Is It Ethical For You To Own Multiple Homes?
• Host/Author: Ramsey Network
• Release Date: March 25, 2025
• Duration: Approximately 3 minutes and 34 seconds

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Introduction

In this episode of The Ramsey Show Highlights, hosted by the Ramsey Network, Dave Ramsey addresses a thought-provoking question submitted by Greg from New York. The discussion delves into the ethics of owning multiple homes, particularly from a Christian perspective, and examines whether such practices equate to greed or contribute to housing shortages. The conversation also explores the impact of large institutional investors versus individual homeowners on the housing market.

The Ethical Debate on Multiple Home Ownership

Greg initiates the discussion by questioning the ethics behind owning multiple properties. He frames his concern within a Christian context, suggesting that accumulating numerous homes may be perceived as greedy and contributing to the housing shortage.

Greg (00:09):

"How is it considered ethical for people to own so many houses? I'm just wondering how, as a Christian, this isn't seen as greed. Don't you know that buying up all these homes is what's causing the housing shortage?"

Dave Ramsey responds by challenging Greg's assumptions, emphasizing that individual investors are not the primary cause of the housing shortage. He asserts that it's a misconception to blame personal property ownership for broader economic issues.

Dave Ramsey (00:28):

"Well, actually, Greg, let's just start with not the spiritual part, but your economic understanding. That's not what's causing the housing shortage. Investors buying up houses is not causing the housing shortage. Okay. Period. So you're just wrong."

Impact of Large Institutional Investors

The co-host interjects to clarify Greg's concern regarding large hedge funds and institutional investors like Blackstone, suggesting that their bulk buying could influence the housing market adversely.

Unknown Co-host (00:42):

"Because that is a thing going around that these massive hedge funds, or Blackstone, like all these, they're coming in, but that's."

Dave acknowledges that while individual investors may not significantly impact the market, large entities like Blackstone do play a role, albeit not as severely as some social media platforms like TikTok might claim.

Dave Ramsey (01:04):

"They're not. They're not causing the. But Blackstone. Yeah, those guys are buying up houses. That's true."

Unknown Co-host (01:11):

"Is that. And is that affecting the housing market at all? Because that is."

Dave Ramsey (01:11):

"It probably is to some extent, but not as much as TikTok says it is."

Christian Perspective and Stewardship

Greg presses further, seeking to reconcile Dave's multiple property ownership with Christian stewardship. Dave responds by reframing his property ownership as managing assets entrusted to him by God, rather than personal greed.

Dave Ramsey (01:54):

"So I guess you're calling God greedy now."

Unknown Co-host (02:05):

"Managing money for God, that's my job. Well, and I've done a good job. I've done a better job than Greg has done."

Dave emphasizes that accumulating wealth responsibly is part of his duty to manage resources effectively, contrasting it with Greg's perceived lack of stewardship.

Greed vs. Accumulation: Understanding Intent

The conversation shifts to differentiate between greed and the mere accumulation of assets. Dave argues that possessing multiple properties or amenities does not inherently signify greed; rather, greed is characterized by a mindset or spirit.

Unknown Co-host (02:15):

"Have more in your retirement than maybe you may not need, right?"

Dave Ramsey (02:27):

"Like, listen, if you got three bathrooms, you have three more than most people in the world. Why are you not greedy? If you have two cars, you have two cars more than most people in the world. If you make $38,000 a year, you're in the top 1% of income earners in the world. How are you not greedy? Because amounts don't create greed. Greed is a spirit. It is not an amount."

Dave provides tangible examples to illustrate that wealth in itself does not equate to greed. Instead, the intention behind accumulation and the individual's relationship with their possessions define whether their actions are greedy.

Intent and Hoarding: The Role of Purpose

Furthering the distinction, Dave discusses the concept of intent in differentiating between saving and hoarding. He uses his collection of antique water skis as an example to demonstrate that having possessions for personal enjoyment does not constitute hoarding or greed.

Dave Ramsey (03:27):

"That's a form of heresy called Gnosticism that believes that the material is bad and anyone that has the material, their soul is in jeopardy. The Gnostics taught that in the first century they were heretics. So if you want to do a little theological rabbit hole, we can do that."

Unknown Co-host (03:34):

"But I love the rabbit holes. Dave. No, that's good. I think that's it, though."

Dave Ramsey (03:34):

"Hoarding is not an amount. The difference in saving and hoarding is intent. It's not the thing. You know, I have a collection of water skis, but I don't worship them. You know, it's their stinking water ski, antique water skis on the wall. That's it. But that's not hoarding. It's a collection because it's about the intent."

Conclusion

Dave Ramsey concludes by reinforcing the idea that greed is a matter of spirit and intent rather than the quantity of possessions one holds. He advocates for responsible stewardship and effective management of resources, aligning with his Christian beliefs.

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Notable Quotes:

• Dave Ramsey (00:28):

  "Investors buying up houses is not causing the housing shortage. Okay. Period. So you're just wrong."

• Dave Ramsey (02:27):

  "Greed is a spirit. It is not an amount."

• Dave Ramsey (03:34):

  "The difference in saving and hoarding is intent."

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Key Takeaways:

1. Distinguishing Investors: Individual investors owning multiple properties are not the primary cause of housing shortages; rather, large institutional investors have a more significant impact.

2. Intent Over Quantity: Accumulating assets does not inherently mean greed. The intention behind ownership and management of resources determines ethical implications.

3. Christian Stewardship: From a Christian perspective, wealth can be viewed as resources entrusted by God, with the responsibility to manage them wisely and ethically.

4. Greed Defined: Greed is characterized by a mindset focused on excessive desire for wealth, not merely by the amount of possessions one holds.

5. Responsible Management: Effective stewardship involves balancing personal wealth accumulation with generosity and ethical considerations.

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This episode offers listeners a nuanced perspective on wealth accumulation, ethics, and stewardship, particularly through the lens of Christian values. Dave Ramsey effectively differentiates between greed and responsible ownership, emphasizing the importance of intent and ethical management of resources.

Transcript

[Dave Ramsey]

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[Unknown Co-host]

Ramsey all right, today's question comes from Greg in New York. He said, how is it considered ethical for people to own so many houses? I'm just wondering how, as a Christian, this isn't seen as greed. Don't you know that buying up all these homes is what's causing the housing shortage? You know what?

[Dave Ramsey]

Well, actually, Greg, let's just start with not the spiritual part, but your economic understanding. That's not what's causing the housing shortage. Investors buying up houses is not causing the housing shortage. Okay. Period. So you're just wrong.

[Unknown Co-host]

Now, now that is it. Can we. Can we stay on that for just a second? Because that is a thing going around that these massive hedge funds, or Blackstone, like all these, they're coming in, but that's.

[Dave Ramsey]

They don't have a soul.

[Unknown Co-host]

That's okay.

[Dave Ramsey]

So hedge funds don't have a soul. So.

[Unknown Co-host]

So, so, because an individual investor, right. For the average person out there who has maybe two or three rental homes, right. They've on baby steps and they're doing it.

[Dave Ramsey]

They're not. They're not causing the. But Blackstone. Yeah, those guys are buying up houses. That's true.

[Unknown Co-host]

Is that. And is that affecting the housing market at all? Because that is.

[Dave Ramsey]

It probably is to some extent, but not as much as TikTok says it is. Yeah, yeah. So, I mean, you really don't want your economic lessons on TikTok. I'll just help you with that in general. But, but Anyway, you're on TikTok, though. I know, but that, that just proves that I'm lacking in judgment. But, yeah. So anyway, the. Yeah, that's the thing now. You know, I own. I own. I don't know. I don't even know. 15, 20 houses among. And a bunch of commercial real estate as well. How is that not greed? Because I don't own anything, Greg. I'm a Christian, and that means God owns it and I'm managing it for him. So I guess you're calling God greedy now.

[Unknown Co-host]

Okay, so devil's advocate, what would you say if Greg was like, well, Dave, why do you need so many houses? Why don't you just give all that extra money away?

[Dave Ramsey]

Managing money for God, that's my job. Well, and I've done a good job. I've done a better job than Greg has done.

[Unknown Co-host]

And.

[Dave Ramsey]

And that's why he thinks I'm greedy.

[Unknown Co-host]

Well, this mindset. So this is an extreme right of you know, 20 houses saying, but this is the same logic of, well, is it greedy? Have more in your retirement than maybe you may not need, right?

[Dave Ramsey]

Like, listen, if you got three bath, if you got three bathrooms, you have three more than most people in the world. Why are you not greedy? If you have two cars, you have two cars more than most people in the world. If you make $38,000 a year, you're in the top 1% of income earners in the world. How are you not greedy? Because amounts don't create greed. Greed is a spirit. It is not an amount. And if you want to be a communist, just be a communist. Don't try to blame Christianity for it. If you want to be a socialist, just be a socialist. Don't try to blame Christianity for it. That's a form of heresy called Gnosticism that believes that the material is bad and anyone that has the material, their soul is in jeopardy. The Gnostics taught that in the first century they were heretics. So if you want to do a little theological rabbit hole, we can do that.

[Unknown Co-host]

But I love the rabbit holes. Dave. No, that's good. I think that's it, though. Greed is not an amount. It's a spirit.

[Dave Ramsey]

That's it. That's it. And so, and so hoarding is not an amount. The difference in saving and hoarding is intent. It's not the thing. You know, I have a collection of water skis, but I don't worship them. You know, it's their stinking water ski, antique water skis on the wall. That's it. But that's not hoarding. It's a collection because it's about the intent. Why refi Refinances delinquent private student loans for struggling borrowers. Learn [e-mail] Ramsey.