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    - Real Estate REgurgitations

    Started by K-Dog Mar 17, 2024, 09:11 PM

    Message path : / Society / The American economy / Real Estate REgurgitations #20


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    K-Dog

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    Mar 17, 2024, 09:11 PM
    Quote from: TDoS on Mar 17, 2024, 06:43 PM
    Quote from: RE on Mar 17, 2024, 01:32 AMShades of 2008, not just the Commercial RE market is having problems, the housing market isn't doing so great either. 

    https://www.foxbusiness.com/economy/home-foreclosures-are-soaring-nationwide-rising-fastest-these-states

    Home foreclosures are soaring nationwide – and rising fastest in these 5 states

    RE
    One of the biggest financial mistakes I ever made was not buying a house during the lows in 2008. Home values had tanked, and I could have rented it out, and it would have paid off in housing value growth similar to what you have mentioned K-Dog was able to take advantage of. Maybe let one of the kids have it to save themselves rent and whatnot after college.

    I wonder when prices might crash to levels making that game available again.

    I am an oddball.  I was never all right with property values going up.  I think houses should be affordable and steps should have been taken all along the way to keep houses affordable.

    When houses become un-affordable and you are lucky enough to own a house it does not mean you are rich.  I you sell the house you have to spend the money to get another place, so it is a wash. 

    Home ownership only means you are one of the lucky ones who can live rent free and mortgage free because you have paid your mortgage off.  You pay taxes and have expenses, but you don't pay exorbitant rent or owe a bank until the sun goes red giant.

    For years house values went up and all I ever heard was how wonderful it was. 

    For years I suffered idiots and fools.  And I still do.

    An average home should be worth about five times what the average annual wage is.  A home should be a store of wealth, but that is all.  There never should have been a 'market' as we have known it.

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