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MoneySheep
2012 Jun 1, 12:00am
I would disagree with this for a number of reasons. Basically because if you compare real estate to overall stocks in the long run stocks outperform real estate by a fairly good margin. In many circles its suggested to take as long as possible to pay off a house. In doing so you're taking the money you're not spending on a mortgage payment and putting it into investments that will over the long run give you more return. Likewise if you pay for a house with cash, your cash is then tied up to again- an investment that isn't going to perform as well and in many ways puts the money at more of a risk come something awful- like if you lost the house for some reason.
But besides the point, if you're about to buy a house, in my opinion you should already have a sizable amount of not only cash, but retirement savings as well.
I think we have some "similar thought". The idea is to have lots of savings first, then buy a house. When you have more than enough cash to pay for house, you can choose to pay a portion of the price in cash, the rest in loans. But you know you have enough cash available to wipe it clean if you choose to.
Eventually, a paid for house relieve you from financial stress, and you can go about your life peacefully.
KILLERJANE
2012 Jun 1, 2:51am
@edvard and the like of savings, retirement funds
Cash? What? It is just paper! Fiat. The country has major problems. Cash is paper with only the value we and the rest of the planet value it at. Recently I have read of other countries trading for oil in a basket of other currencies.
I would rather have clean water, food, shelter.
Cash? Think about what that really is.
What happened to the retirement funds 3, 4 years ago cAn happen again. I talk to some retirees who work at home depot because of a loss of retirement funds.
freak80
2012 Jun 1, 2:56am
Cash? Think about what that really is.
It's what you must get AFTER money, but BEFORE ho's...
KILLERJANE
2012 Jun 1, 2:59am
Ho's? They won't accept your cash if it only is worth the paper it's printed on, better head to mcDs for a BIG MAC barter, IMHO.
Bigsby
2012 Jun 1, 1:25pm
And you can continue to make misrepresentations. And we will be here to expose them and you.
Have you found yourself yet?
Bigsby
2012 Jun 2, 2:58am
Bigsby says
Troll Hunter says
And you can continue to make misrepresentations. And we will be here to expose them and you.
Have you found yourself yet?
Have you stopped lying yet?
Put your glasses on. It might help.
rufita11
2012 Jun 3, 8:03am
You can call me the King of England if you want, Scam. Show me the proof. What exactly am I lying about???
My wife is the cupcake. And only I get to call her that...
Thank you for the craving. One which will forever go unfulfilled. Well, unless I make the cupcake myself with honey and all organic, fair trade, gluten free, non-GMO, kosher ingredients.
David9
2012 Jun 3, 9:17am
Fraud. Fraud. Fraud.
I just don't believe anyone would be this tear down property for $333,000, it was even first listed at $232,000. There is even a post on this site somewhere.
Well, the comps are higher. Multi Bids!
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Posted for Patrick.net reader B.
Patrick --
Something I don't read about much is whether it's still a good idea to even
consider buying a house at all, at any price, ever.
Things have changed so much in the last 15 years or so. How many people have
real job security? Apart from federal employees, not that many people. Fifteen
years ago the economy was way more stable, you could pretty much bet on having
a job the next year so you could pay your mortgage.
Second, most existing houses were built for a world that no longer exists --a
world where energy was cheap (to heat and cool your house, to drive to and from
the house,etc), a world where the economy was almost always expanding, where
jobs were plentiful and well paid, for the most part. A world where property
taxes, repairs, insurance and utilities were usually reasonable. None of those
things are cheap anymore. Most houses are also poorly located too far from good
mass transit, shopping, jobs, etc, since city planning in most US cities has
been so poor. Not to mention that most US houses are at best of mediocre
construction quality, built with cheaper materials, requiring constant and
expensive maintenance.
Buying a house in an unstable economy with declining job prospects means that
it's unlikely you will be able to sell the house down the road in a few years
for what you paid, thus you won't be able to move to another area in case your
job evaporates and the local economy tanks. Federal loans can't prop up the
housing market forever, and the economy really no longer needs that many people
to function, with automation and outsourcing.
The single family home may be an artifact from an earlier time that served a
purpose for a time, but for the above reasons may just not work anymore for
most people. Times have changed, but people remain stuck in the thinking that
owning a house is wonderful, profitable, always a good idea, etc. Many houses
that sell for substantial amounts even now may be basically worthless in 10 or
15 more years, for the above reasons.
B.
#housing