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A seller's advice to buyers

By Patrick following x   2018 May 22, 9:28pm 666 views   5 comments   watch   nsfw   quote     share    


With the offers, I received several touching letters from prospective buyers telling me that they were offering everything they had, and to please consider them because they were desperate to buy a house for their family to live in.

Every one of the buyers was prequalified, and every one of them was employed. All had good credit. They were all offering the maximum amount they could qualify for, based on their income.

I realized that I was looking at a sample of middle America and the housing dilemma it’s facing. Most middle-class Americans simply cannot afford a house that costs in excess of $250,000.

Affordable houses like the Hilltop home I’m selling are few and far between in Washington cities, and in the present economy they will all disappear soon.

So, what’s a person to do?

My advice for all those people trying to buy a single-family home at below $250,000 is to bide your time and save all you can. I know it’s hard, but the key to buying something during the next recession will be cash.

Now is the time to prepare for the next downturn. It’s coming in the next few years. Save as though your life depends on it, and a house you can afford will be your reward.
1   BayArea   ignore (1)   2018 May 22, 9:56pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Or move to a more affordable area,
2   APOCALYPSEFUCKisShostikovitch   ignore (38)   2018 May 22, 10:20pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Long: YAMS! BELT-FED! anything.
3   Tenpoundbass   ignore (14)   2018 May 23, 6:10am   ↑ like (0)   ↓ dislike (0)   quote   flag        

That's exactly what I did between 2000 through 2009 and bought a house in 2010.
4   everything   ignore (1)   2018 May 23, 7:29am   ↑ like (0)   ↓ dislike (0)   quote   flag        

I just keep a storehouse of cash around, but the more cash you have, the bigger a hit it takes with inflation. This is why most don't bother with it, they just do what the fed does, borrow and spend, some don't have a choice. I think it is likely that with the next downturn we will have interest rates like Germany's mortgage rate which is at 1.9% currently. I think this bull run will last, we are entering a time in which debt doesn't matter as much as being able to service that debt does matter, and we see this in the retail sector. Some of these retailers could have went the amazon route long, long ago, and downsized their many, many storefronts into a few small warehouses, but they took the golden parachute route instead, which is the way of corporate capitalism. That is .. pretend everything is good, until it's not, and it's a shareholder thing too, a game the market makers play.

Not everything will be different, but debts will need to be rolled over into lower interest vehicles.

The dollar is being shorted, ideally you want to borrow big (when the time is right), and let time let the dollars you owe become worth less, but you still need to be savvy on your purchases, everyone is trying to sell people a bill of goods, or over priced junk.
5   Quigley   ignore (0)   2018 May 23, 7:44am   ↑ like (0)   ↓ dislike (0)   quote   flag        

The real culprits are the liberal elite who bemoan the plight of the homeless at the same time they’re exercising the FUCK out of NIMBY policies, restrictive zoning, and filing environmental lawsuits on any housing project that dares to build. Those assholes need to be taxed until they cry uncle! Georgism would work for that.

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