yeah, that is true. My dad taught me you can't live paycheck to paycheck and be a homeowner. Things need fixing when you own a home.
Housing market
- Thread starter simply1
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yeah, that is true. My dad taught me you can't live paycheck to paycheck and be a homeowner. Things need fixing when you own a home.
My biggest issue with this thought process is it’s dangerous if misapplied. I’ve heard a number of people use those same talking points when buying a house or car but they don’t actually have any cash to use for a down payment even if they wanted to do one.
"Why would I not get an 8 year loan on a $50k car when the rate is 0%?", "Why can't I take a loan against my 401k, I'm paying myself back". A car is a depreciating asset so it's different than a house but I still have zero issues with people applying cash to a mortgage even at these low rates. The problem is that a lot of these people that talk a big game like "I'll just use the money that I was going to put as a down payment into investment, never actually do this. Just like people that get 30 year loans and say "Well I'll just pay it off in 15" and then 20 years later they say "Well it would have been dumb for me to pay it off early". It may only be 3% that you earn but it's a guaranteed 3% and I don't know anything currently that is offering a guaranteed 3%. Everyone's situation is different.
I agree with a lot of this. People will always try to bite off more than they can chew. However, with a mortgage sub 3%, paying it off early would be the least of my concerns.
If You Sell a House These Days, the Buyer Might Be a Pension Fund
Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.
www.wsj.com
One thing to buy up paper assets, but this is just low, pricing out the lower middle class every step of the way.
If You Sell a House These Days, the Buyer Might Be a Pension Fund
Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.
One thing to buy up paper assets, but this is just low, pricing out the lower middle class every step of the way.
This is only getting worse as pension funds and money managers run out of areas to invest and meet their yield targets.. Everyone and their sister wants in on single family rentals right now
Yes cause no yield on govt bonds, and junk bonds pay nothing compared to the risk, financial mis mgmt by the central banks will have consequences.
Farmland being bought up in Iowa buy big money from Hollywood and Tech Industry also hearing. The gobbling of assets is becoming sickening at this point.
Modern Monetary Theory, in my opinion will go down as one of the worst mistakes in human history. It's a GIANT transfer of wealth to the few who control the most
The 30 year mortgage term is the issue. If you put the xtra money from a 15 or 20 aside, then you should be fine. What many people don't think about it, in about 15-20 years you will need a furnace, AC, water heaters, a roof maybe. If you don't have cash there and still have 10-15 years left on your house, you will have to borrow to make the major repairs on your house and the payments will start snowballing on you.
Here's a fun little development on my situation. We closed on the sale of our home a couple months ago and have been living in a temp rental until our home build was completed. We coincidentally met the buyer of our home a few days ago. They asked about the new place and we share our current situation about how we had to find a temp location, etc. They get confused and share that they were still paying rent at their apartment because they couldn't get out of their lease. They also shared that they asked their agent if we would be willing to move the close date back and the agent told them that we were not interested. The ideal close date for the the buyer would have been perfect for us but that offer never made it to us. Needless to say, we are not very happy right now!
my tax assessed value went from 123,500 to 138,800. HA. im going to protest. has anyone had success protesting? Thanks
Friends just got their Polk County house reduced from $510k to $490k. Make sure you have comparable comps to support the protest.
Go on the assessors list and find houses that have sold in the last year that are similar to your according to assessment. That is your cheapest route.
I know PE's have been buying up real estate for quite some time now, but their footprint keeps getting much bigger each year.
www.wsj.com
If You Sell a House These Days, the Buyer Might Be a Pension Fund
Yield-chasing investors are snapping up single-family homes, competing with ordinary Americans and driving up prices.
www.wsj.com
At sub 3%, I wish I could get a 45 year mortgage. I have a very healthy emergency fund and would like to use the extra money to invest more.
This isn't anything new...
America’s Biggest Owner Of Farmland Is Now Bill Gates
The Microsoft billionaire has been quietly building a 242,000-acre portfolio of agricultural land across 18 states.
www.forbes.com
