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I'm very tempted to buy my 3rd house right now ;but I know its unreasonable to be certain of the predicament of our future economy. With warnings about our inflating dollar is it a question of when not if the housing market starts seeing better days again. Right now I have a contract for a 3,000 squarefoot house (biggest i've ever owned)(construction costs alone are more than what I can nab it for) and there's even another one also foreclosing for 280k roughly the same size! My realtor told me I shouldn't hold my breath on flipping the house, but with all my money getting lost in the stockmarket and the bank agreeing to grant me my 3rd mortgage I feel good about this buy. I don't know how many years of interest i'll be paying until falling over in debt but I'll never be able to live with myself if this house values anywhere near the 400,000 dollar price it was sold before the subprime mortgage crisis could have been mine at half that price.
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Jun 19, 2009 16:50
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| # ¿ Apr 30, 2024 16:39 |
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TraderStav posted:It doesn't cost 6% to exit a stock position.
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Jul 15, 2011 06:08
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Whats wrong with condos as rental properties? You don't have to provide lawn maintenance or pay for the roof. Or are they strictly the devil in terms of living in / trying to sell? Is it the really steep assocation fees? The condos I used to live at charge 300 dollars a month, but they come with cable and water so you are basically paying 200 dollars a month to not have to worry about fixing a roof or termite damage.
Kneel Before Zog fucked around with this message at 22:02 on Feb 8, 2012 |
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Feb 8, 2012 22:00
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I am still under the impression that now is the best time to buy, rent, and wait it out if you can. Like that famous Warren Buffet quote that I am paraphrasing buy when people are scared and things are cheap. But a random thought I read on the internet that has unsettled me a bit was one involving what happens to all the baby boomers houses when they start dying off en masse? Will many suburbs start entering lower income territory now that the generation thats following them isn't going to be able to afford the same quality life style of their boomer parents?
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May 9, 2012 03:15
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Whats the consensus on the future of house values? I'm assuming most people assume they will begin to if they haven't already start to rise up, yes? Any major chances of housing values to stagnate in price or even decrease further?
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Jun 13, 2012 04:55
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Bucket Joneses posted:It really depends on what part of the country you're talking about. South East U.S. I'm thinking now is an opportune time , if you had enough money and a steady income, to buy houses to rent?
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Jun 13, 2012 05:05
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Help my dad wants to buy another 50k dollar house in a poor neighborhood because prices are so cheap and I am trying to get him to consider other options (or put it in a rainy day fund as hes using funds that aren't his own). Help me think of alternatives that he could put that 50k dollars into instead that would be similar investments risk wise. He already is heavily invested into cheapo houses like the one hes going to buy another of. Owns 5 or 6. He hates stocks and thinks a 50k dollar house is worth buying just for the ROI on rent.
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Jul 4, 2012 00:13
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