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Good luck with waiting. I hope the patience will payoff.
It’s total fantasy. And nobody treats houses like a stock. Most people just enjoy living in their house and have no interest in selling to go back to renting.
Fast forward to today and I gained 500k in equity in just that house.
even if you would have bought at the worst possible time (peak of 2006) you would be totally fine today.
It’s total fantasy. And nobody treats houses like a stock.
Huh? Of course RE is an investment. Nobody has questioned that. For many it’s the biggest investment they’ll ever make! Most of my wealth is invested in RE. What’s your point?
How about all of those flip this house shows? Is that investing in RE?
How about this article found just now on Yahoo...https://www.yahoo.com/finance/news/real-estate-agents-buy-property-145842517.html
GNL says
Rubicon says
Huh? Of course RE is an investment. Nobody has questioned that. For many it’s the biggest investment they’ll ever make! Most of my wealth is invested in RE. What’s your point?
You said no one treats houses like stocks.
Exactly.
Have you ever met someone who said: market is pretty high right now. I am going to sell my house! Live in a car or a rental and then buy back in a year when the market is down 30%.
Have you ever met someone who said: market is pretty high right now. I am going to sell my house! Live in a car or a rental and then buy back in a year when the market is down 30%.
Eman, btw, I'd love to hear your number crunching strategy on when, where and how to buy RE.
I believe I’ve shared my number crunching on here a few times.
“ Yes, there are people I know that have sold in order to buy back in. ”
Market timers? Yeah, and how did that work out for them?
Sure, you can always find someone who makes a bad choice (like nutty). Believe it or not I know someone who knows a lesbian who got her vagina removed and replaced with something that was supposed to be a penis.
It’s about calculated risk.
Exactly.
Have you ever met someone who said: market is pretty high right now. I am going to sell my house! Live in a car or a rental and then buy back in a year when the market is down 30%.
wolfstreet is a great place to find them.
She could try the most effective way of selling a house, or anything for that matter
......lower the price
She could try the most effective way of selling a house, or anything for that matter
......lower the price
Link:
https://www.realtor.com/realestateandhomes-detail/1295-N-Cedar-Blvd-Unit-6_Cedar-City_UT_84721_M27748-17449
SHORT SALE! Trending for the win!
https://trends.google.com/trends/explore?geo=US&q=short+sale&hl=en
1337irr says
SHORT SALE! Trending for the win!
https://trends.google.com/trends/explore?geo=US&q=short+sale&hl=en
,
.
Banks won't mess around this time if it gets bad
WookieMan says
Banks won't mess around this time if it gets bad
All based on supply and demand, and also interest rates (even after buying down the maximum of 1% by buying 4% in discount points).
Ultimately a lot of purchases are driven by housing cost affordability standards such as no more than 35% of household income.
But I think a lot of homes are not underwater if prices drop 15%. And remember also there are no shit loans or subprime loans, as well as 2 or 3 year ARMs.
.
I’m not a fan of rate buy down unless you believe you could never refinance again due to your financial situation. It’s personal of course.
ad,
I’m not a fan of rate buy down unless you believe you could never refinance again due to your financial situation. It’s personal of course.
Again, in my East Coast FL area, the stubborn ass old home owners - and I'm talking 1200 sq ft early-mid 60s spacerace boom houses on 1/5th acre, carport (no garage), a 2 bedroom with the sunroom enclosed (badly), with HVAC often added later and poorly (ie enclosed sunroom only has one small vent, will be 5-10F hotter than the rest of house) - $280-299k.
VERSUS
Brand new DR Horton $281-306k for genuine 3 bedrooms with another 200 sq ft under air (1400-1600) a decent sized master suite with walk-in closets, new everything inc. built in USB ports, brand new and not undersized later added Central HVAC, roof, etc. AND the Builders unlike the homeloaners/inheritance kids are covering closing costs. Granted, they're zero lots, maybe 6000 sq ft total, but they come with 2-car garages.
I still just can't imagine paying north of $2000/month for a 3 bedroom/2 bath house or having to come up with ~$50-60k down.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.