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House buyers who wait a couple of years may be rewarded.

By Patrick following x   2018 Jun 3, 5:42pm 564 views   12 comments   watch   sfw   quote     share    


https://www.marketwatch.com/Story/economists-say-homes-could-go-on-sale-in-2020-when-the-next-recession-hits-2018-05-22?&siteid=patrick.net

Prospective home buyers these days are probably feeling pressure to lock in a deal quickly given skyrocketing home prices across most of the country. But those who wait a couple of years may be rewarded. ...

Even though the housing market likely won’t be the cause of the next recession, an economic downturn would still have an impact on real estate. ...

Previously, the panel predicted that any upcoming recession would have a moderate impact on the housing market, with real-estate values in cities such as San Francisco, Miami, Los Angeles, New York, San Diego and Seattle likely to be the most affected.
1   APOCALYPSEFUCKisShostikovitch   ignore (30)   2018 Jun 3, 8:56pm   ↑ like (3)   ↓ dislike (0)   quote        

That is if they survive the ensuing decades or centuries of CANNIBAL! ANARCHY!

LONG: YAM!s and anything BELT!-FED!
2   Malcolm   ignore (1)   2018 Jun 4, 8:32am   ↑ like (0)   ↓ dislike (0)   quote        

Hi Patrick, I enjoyed your book. Putting more pieces together, I completely understand how the system enslaves the majority of people in this country. I am referring to high student loans and high housing prices. I am starting to side more with your point of view that the elder generations are enslaving the younger ones with student loans that will never be paid off and houses that will never be paid off.

Specifically, I think of the orthodontist with $1 million in student loans. I was also imagining he of course has to have an expensive house to fit in. No matter how successful his practice is, there is no way that he will not be in a negative amortization for his entire life, and that assumes everything else goes well. He can certainly count on not affording a family, though he will have a wife in the beginning, until she realizes that there is no upside. They will never go on vacations, they won't be able to eat out with friends, or belong to the country club.

I am seeing more and more that young people are leveraging their entire expected life earnings to pay for ridiculous degrees and these blue state homes that will be living hell holes.

Just my thought of the day. Good work.
3   Aphroman   ignore (4)   2018 Jun 4, 8:41am   ↑ like (0)   ↓ dislike (0)   quote        

A quarter mill in rent payments later, they may finally get to buy a dip, after prices doubled while they waited. Better buy with cash, good luck finding a 3.5% 30 year mortgage now
4   APOCALYPSEFUCKisShostikovitch   ignore (30)   2018 Jun 4, 9:25am   ↑ like (0)   ↓ dislike (0)   quote        

As it is in any civilized country, it's

CASH! or FUCK! YOU!, AMERICA!
5   rootvg   ignore (0)   2018 Jun 4, 9:29am   ↑ like (1)   ↓ dislike (0)   quote        

Malcolm says
Hi Patrick, I enjoyed your book. Putting more pieces together, I completely understand how the system enslaves the majority of people in this country. I am referring to high student loans and high housing prices. I am starting to side more with your point of view that the elder generations are enslaving the younger ones with student loans that will never be paid off and houses that will never be paid off.

Specifically, I think of the orthodontist with $1 million in student loans. I was also imagining he of course has to have an expensive house to fit in. No matter how successful his practice is, there is no way that he will not be in a negative amortization for his entire life, and that assumes everything else goes well. He can certainly count on not affording a family, though he will have a wife in the beginning, until she realizes that there is no upside. They will never go on vacations, they won't be able to eat out with friends, or belong to the country club.

I am s...

Moral of the story is, don't buy in a blue state. We just came from a week in Ohio and I didn't see any of this crazy shit there. Not once.
6   rootvg   ignore (0)   2018 Jun 4, 9:34am   ↑ like (1)   ↓ dislike (0)   quote        

Patrick says
https://www.marketwatch.com/Story/economists-say-homes-could-go-on-sale-in-2020-when-the-next-recession-hits-2018-05-22?&siteid=patrick.net

Prospective home buyers these days are probably feeling pressure to lock in a deal quickly given skyrocketing home prices across most of the country. But those who wait a couple of years may be rewarded. ...

Even though the housing market likely won’t be the cause of the next recession, an economic downturn would still have an impact on real estate. ...

Previously, the panel predicted that any upcoming recession would have a moderate impact on the housing market, with real-estate values in cities such as San Francisco, Miami, Los Angeles, New York, San Diego and Seattle likely to be the most affected.

We waited untli 2012 to pull the trigger and it made us financially. We are now completely out of debt and discussing returning to Ohio when our finances permit it.
7   MisterLefty   ignore (0)   2018 Jun 4, 2:57pm   ↑ like (0)   ↓ dislike (0)   quote        

North Korea RE. Get in now.
8   Hassan_Rouhani   ignore (2)   2018 Jun 4, 3:06pm   ↑ like (1)   ↓ dislike (0)   quote        

MisterLefty says
North Korea RE. Get in now.


What part of "don't buy in a blue state" didn't you understand?
9   mell   ignore (1)   2018 Jun 4, 3:27pm   ↑ like (1)   ↓ dislike (0)   quote        

MisterLefty says
North Korea RE. Get in now.


At least they might not have water usage restrictions.
10   FortWayne   ignore (2)   2018 Jun 4, 4:08pm   ↑ like (0)   ↓ dislike (0)   quote        

With water restrictions, pretty soon no one will want to be in CA except low wage slaves, and the ruling elite.
11   JZ   ignore (0)   2018 Jun 4, 4:45pm   ↑ like (1)   ↓ dislike (0)   quote        

Malcolm says
Hi Patrick, I enjoyed your book. Putting more pieces together, I completely understand how the system enslaves the majority of people in this country. I am referring to high student loans and high housing prices. I am starting to side more with your point of view that the elder generations are enslaving the younger ones with student loans that will never be paid off and houses that will never be paid off.

Specifically, I think of the orthodontist with $1 million in student loans. I was also imagining he of course has to have an expensive house to fit in. No matter how successful his practice is, there is no way that he will not be in a negative amortization for his entire life, and that assumes everything else goes well. He can certainly count on not affording a family, though he will have a wife in the beginning, until she realizes that there is no upside. They will never go on vacations, they won't be able to eat out with friends, or belong to the country club.

I am s...


Malcom, I am just wondering when enough people will be able to see the “system” as it is and start to change the system. Usually once people see it clear, they will try to game and exploit it as opposed to change it. That’s why systems with exploitation feature exists and lasts.
12   Strategist   ignore (1)   2018 Jun 4, 5:26pm   ↑ like (1)   ↓ dislike (0)   quote        

Patrick, Malcolm, JZ, and their supporters......If no one went to college, and no bought houses, we would be living in trees.
Student loans are repaid from the increase in earnings that education brings. If you are an art major, and are forced to work in Starbucks, you made a stupid decision by going to college. You should have gone into vocational training and become a plumber. They make good money.
If renting a house is better than buying, then buying a house to rent out is even worse. Ask landlords if they made a good decision, and most will say "Yes" Those who accumulated a nice nest egg did so by owning real estate. Yes, you can make it in stocks too, but nothing will ever beat the returns of a house in the right area with minimum down. Nothing at all. If you purchase a $100K home with 5% down, and the house goes up by 50% over 10 years, you made about a 1000% return on your down payment. If you purchased stock on margin with your down payment, you end up with roughly a 100% return if the stocks also went up by 50%. There is absolutely no comparison.
The best strategy is......buy the fucking house, maximize your 401K contribution, save up for emergencies, and keep buying stocks, and buy another house to move up while renting out the old one. If you choose to only invest in stocks, you will never get wealthy unless you are a very high wage earner. If you own a house, and decide to speculate with it by selling it with hopes of buying it back at half price, you will be sorry. Vert very sorry.
Thank You
Fucking Strategist




The Housing Trap
You're being set up to spend your life paying off a debt you don't need to take on, for a house that costs far more than it should. The conspirators are all around you, smiling to lure you in, carefully choosing their words and watching your reactions as they push your buttons, anxiously waiting for the moment when you sign the papers that will trap you and guarantee their payoff. Don't be just another victim of the housing market. Use this book to defend your freedom and defeat their schemes. You can win the game, but first you have to learn how to play it.
115 pages, $12.50

Kindle version available


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