Personal finance expert Dave Ramsey is pushing back against claims that owning multiple properties is greedy.
In an episode of “The Ramsey Show,” he responded to critics who say investors like him are worsening the housing crisis.
“How is it considered ethical for people to own so many houses?” a listener asked. “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?”
Ramsey had a direct response ready. “Let’s just start with not the spiritual part, but your economic understanding. That’s not what’s causing the housing shortage,” he said.
He pointed to large institutional buyers as having more influence, not individual investors with a few rentals.
“Blackstone, yeah, those guys are buying up houses. Is that affecting the housing market at all? It probably is to some extent, but not as much as TikTok says it is.”
Ramsey said he owns “15, 20 houses and a bunch of commercial real estate as well” but doesn’t see it as greed.
“Because I don’t own anything. I’m a Christian and that means God owns it and I’m managing it for him.”
He went further: “So I guess you’re calling God greedy now.”
Greed Isn’t a Number, He Says
For Ramsey, the issue isn’t how many assets someone has but the attitude they hold about wealth. “Greed is a spirit. It is not an amount,” he said.
On X, he doubled down on the same point:
“Owning multiple properties doesn’t make you greedy. Greed isn’t about how much you have—it’s about your heart.”
He also reminded listeners that many Americans are already wealthy by global standards.
“If you make $38,000 a year, you’re in the top 1% of income earners in the world.”
Ramsey added that blaming Christians for owning material things is a misunderstanding of scripture.
“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.”
Faith and Finance Go Hand in Hand
Ramsey, whose net worth is estimated at around $200 million, encourages people to manage money based on Christian values.
Ramsey’s real estate approach is simple: no debt. He believes in paying for properties outright and staying away from loans altogether.
His teachings often refer to Proverbs 22:7: “The rich rule over the poor, and the borrower is slave to the lender.”
When it comes to investing, he sticks to mutual funds that have a long track record, not individual stocks.
He divides his portfolio across four fund types, growth, growth and income, aggressive growth, and international, and encourages others to do the same.
The 7 Baby Steps Framework
A core part of Ramsey’s message is his “7 Baby Steps”, a financial plan that millions have followed to get out of debt and build wealth. The steps are:
- Save $1,000 for a starter emergency fund.
- Pay off all non-housing debt using the debt snowball method.
- Save 3–6 months of expenses in a full emergency fund.
- Invest 15% of household income into retirement.
- Save for children’s college fund.
- Pay off the home early.
- Build wealth and give generously.
He recommends moving through the steps in order, only progressing once the previous one is complete or nearly complete.
Ramsey believes this structure gives people a clear path to long-term financial stability.
From Bankruptcy to National Platform
Ramsey first became a millionaire by 26 through real estate, but lost it all just two years later.
After filing for bankruptcy, he started teaching personal finance with a biblical foundation.
His radio show, “The Ramsey Show,” now reaches 20 million listeners a week, and his company, Ramsey Solutions, has become a media empire.
“Managing wealth wisely isn’t greed—it’s stewardship,” he wrote.
IMAGE CREDIT: ”Dave Ramsey” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.