It's the only asset that directly reflects inflation. I've made half a million of hot air money that way.
Even wages inflation are kept artificially low, based on curtaiiled and massaged 'inflation' numbers, that usually say something like 2%, when inflation, in the USA has run at an average of 7%, if you calculate an average since 1914.
That is roughly an average of a 3X underestimation, that remains subjective and prone to fluctuation.
In our case owning in the USA no longer makes sense. I'm 63 and we sold our low end properties and built abroad. Moving back to the USA we rent in the Nashville market at 2k. I have no one to inherit and my wife wants to retire to our home abroad. The payments would be well over 2 grand, then taxes, insurance and upkeep would put this home close to 5 grand a month. Fuck that! Then there would need to be a 20% downpayment...
Medical bills are likely to eat up your equity even with insurance. Die fast and the hospital gets ya! Die slow and the nursing homes will.
For younger people rent as cheap as you can stand then buy when the coming collapse happens.
Note the properties I sold were purchased for 41000, 25000, 34000, 18000, 11000 and I made a profit from each while only having a mortgage on the first and when I sold I owed no tax...
You take 100k for land and materials and it becomes 600k to buy, oweing huge payments. A sucker bet for debt slaves.
Liars!! In 2030 you’ll own nothing and be happy… including no home ownership. 😡
At the bottom of that retarded "advice" there is a video of some other MSNBC skank titled "This is the time to buy a home". lol
FUD to trick people into buying into a bear market on stonks....
UM?
It's the only asset that directly reflects inflation. I've made half a million of hot air money that way.
Even wages inflation are kept artificially low, based on curtaiiled and massaged 'inflation' numbers, that usually say something like 2%, when inflation, in the USA has run at an average of 7%, if you calculate an average since 1914.
That is roughly an average of a 3X underestimation, that remains subjective and prone to fluctuation.
https://tradingeconomics.com/united-states/inflation-cpi
Current stats claim 8.3%, So I expect it is about 25%.
Even in a bear market, a house functions a roof over someone's head.
In our case owning in the USA no longer makes sense. I'm 63 and we sold our low end properties and built abroad. Moving back to the USA we rent in the Nashville market at 2k. I have no one to inherit and my wife wants to retire to our home abroad. The payments would be well over 2 grand, then taxes, insurance and upkeep would put this home close to 5 grand a month. Fuck that! Then there would need to be a 20% downpayment...
Medical bills are likely to eat up your equity even with insurance. Die fast and the hospital gets ya! Die slow and the nursing homes will.
For younger people rent as cheap as you can stand then buy when the coming collapse happens.
Note the properties I sold were purchased for 41000, 25000, 34000, 18000, 11000 and I made a profit from each while only having a mortgage on the first and when I sold I owed no tax...
You take 100k for land and materials and it becomes 600k to buy, oweing huge payments. A sucker bet for debt slaves.
My wife is a pinay. Similar plans for us
During the Clinton administration, it was "racist" not to hand out home loans to people with zero chance of repaying them.
This article actually, truly says you will own nothing and be happy.
Are you serious ,, I didn't read that far down ,, thanks for sharing , unbelievable