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Unsustainable housing prices

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posted on May, 29 2018 @ 05:15 PM
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a reply to: lordcomac

I said the same thing in 2006. I said, people that can afford 450K for a house aren't going to want a 3 bed 2.5 bath 1500sq ft house in BFE. My parents and others told me that I needed to buy then, because home prices always go up.

I waited till 2010, bought at the absolute bottom, bought the house I had been renting and walked away with 25K in equity, it had been foreclosed on by fanny mae.

Now I'm selling it for over twice what I paid for it, 8 years later. Best investment I ever made.

Now I'll rent for another 3 or 4 years and do the same thing again.

Jaden




posted on May, 29 2018 @ 05:16 PM
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a reply to: AugustusMasonicus

Oh I k ow I'm a carpenter and residential construction has been dead since 08 it nevee recovered

Commercial is booming though



posted on May, 29 2018 @ 05:22 PM
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a reply to: JAGStorm


After you've paid decades of mortgage interest, spent thousands on home upkeep, and reach upper middle age, you realize that all of that investment of money/time/effort was probably for naught.

You kick the bucket and leave that home to children who may not care. Or, have to sell it, to afford the cost of long-term senior care.

edit on 5/29/2018 by carewemust because: (no reason given)



posted on May, 29 2018 @ 05:24 PM
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a reply to: carewemust

Finally someone gets it




posted on May, 29 2018 @ 05:26 PM
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a reply to: toysforadults


Home Ownership Rate in the United States remained unchanged at 64.20 percent in the first quarter of 2018 from 64.20 percent in the fourth quarter of 2017.


Could be worse we could just be building FEMA camps...

What is it going to take to motivate these millennials?
edit on 29-5-2018 by Cauliflower because: (no reason given)



posted on May, 29 2018 @ 05:28 PM
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a reply to: stonerwilliam


I've been in the family financial/insurance planning industry since 1986. Investing tons of money into an asset that you spend more hours unconscious in (sleeping), than awake, does not make sense. Especially an asset that will most likely be squandered by your heirs.



posted on May, 29 2018 @ 05:35 PM
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a reply to: carewemust

Many years ago i stayed next to a old couple who saved every penny for decades and decades , they lived in a grace and favour home and as you say their kids blew the money in months , same with my sisters boyfriend -father died and left him close to 60k gone in a year .

Always been a rent and wreck person




posted on May, 29 2018 @ 05:39 PM
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a reply to: toysforadults




Buy commodities inflation wpnt be slpwing down for a while and with the uncertainty in the European markets isnt helping



Inflation will follow the energy market. $4-$5 gal. gas nation wide will send inflation to the moon.
edit on 29-5-2018 by olaru12 because: (no reason given)



posted on May, 29 2018 @ 05:51 PM
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a reply to: carewemust

Yeah, owning your own home does nothing but cost ya a lot of money... I am kinda starting to get that.... Even your freakin water bills a way higher, than if you were just renting!

But, on the bright side, its at least something to be proud of... Something physical you can hold on too... A reason to wake up every morning and work really hard to ensure you keep it.

Then if nothing else... It sure in hell beats living out of the back of your car... Trust me!



posted on May, 29 2018 @ 05:55 PM
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a reply to: Subaeruginosa

Where I live there is a rental crisis, if you don't own a place you are screwed, some rents have have gone up 50% ,the real estates are scummy, they kick people out so they can get new people in knowing many people are just so desperate they will pay anything.



posted on May, 29 2018 @ 06:04 PM
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a reply to: Cauliflower




What is it going to take to motivate these millennials?


you mean take on more stress and more debt that we can't afford?

the only Millennial's buying anything work in the tech sector no one else has money.



posted on May, 29 2018 @ 06:05 PM
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originally posted by: olaru12
a reply to: toysforadults




Buy commodities inflation wpnt be slpwing down for a while and with the uncertainty in the European markets isnt helping



Inflation will follow the energy market. $4-$5 gal. gas nation wide will send inflation to the moon.


yeah the financial markets are going get to the point of the only way for things to work is on a blockchain where they move the decimal over once a month



posted on May, 29 2018 @ 06:14 PM
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a reply to: toysforadults

The cost of renting includes a profit for the landlord and the loss of a homestead tax exemption.
You don't have any money for a down payment because you don't plan ahead.



posted on May, 29 2018 @ 06:32 PM
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a reply to: Bluntone22

I come from a different school of thought, I think it is better to buy a cheaper house with higher interest (during a crash) than a more expensive house (like right now) with a cheaper interest rate, long term anyways.



posted on May, 29 2018 @ 06:33 PM
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originally posted by: Cauliflower
a reply to: toysforadults
You don't have any money for a down payment because you don't plan ahead.


Yeah, either he doesn't have a down payment because he doesn't plan ahead... Or because he doesn't have a moderately wealthy father who got all self conscious, about how he raised ya after a heart attack scare, who then decides to give ya 80 grand as a down payment for a house... Either way, yeah?

Its funny how people love to judge... Truth is though, no one makes it in this world without some kind of free ride, somewhere along the way!



posted on May, 29 2018 @ 06:39 PM
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originally posted by: Subaeruginosa

originally posted by: Cauliflower
a reply to: toysforadults
You don't have any money for a down payment because you don't plan ahead.


Yeah, either he doesn't have a down payment because he doesn't plan ahead... Or because he doesn't have a moderately wealthy father who got all self conscious, about how he raised ya after a heart attack scare, who then decides to give ya 80 grand as a down payment for a house... Either way, yeah?

Its funny how people love to judge... Truth is though, no one makes it in this world without some kind of free ride, somewhere along the way!






I know someone who just bought an old place 3 bedder, big ass double story shed, on a half an acre 50 minutes from the coast in Victoria.... Location location location..he paid 78 grand...
edit on 29-5-2018 by hopenotfeariswhatweneed because: (no reason given)



posted on May, 29 2018 @ 06:43 PM
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a reply to: JimNasium

I was going to mention something about Central America/S America, but because of the loads of baby boomers already headed there the prices are almost at US levels. I just saw a show about a condo in Mexico for 400K! ha

On another note, the doctors told my mom that her lungs were black and she didn't have a lot of time, that was in 1981, the ol' gal is still kicking! Smokes about three packs a day, and has smoked for at least 65 years! Doctors don't know everything!



posted on May, 29 2018 @ 06:50 PM
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originally posted by: hopenotfeariswhatweneed

originally posted by: Subaeruginosa

originally posted by: Cauliflower
a reply to: toysforadults
You don't have any money for a down payment because you don't plan ahead.


Yeah, either he doesn't have a down payment because he doesn't plan ahead... Or because he doesn't have a moderately wealthy father who got all self conscious, about how he raised ya after a heart attack scare, who then decides to give ya 80 grand as a down payment for a house... Either way, yeah?

Its funny how people love to judge... Truth is though, no one makes it in this world without some kind of free ride, somewhere along the way!






I know someone who just bought an old place 3 bedder, big ass double story shed, on a half an acre 50 minutes from the coast in Victoria.... Location location location..he paid 78 grand...


Yeah, sounds good... If theirs a non-skilled labour job within driving distance from that "location", which pays at least $1000 a week, then I'm in...



posted on May, 29 2018 @ 06:50 PM
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a reply to: JAGStorm



Check Uruguay. An added plus is the Gov't. is Pro-Cannabis and sells it



posted on May, 29 2018 @ 06:56 PM
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a reply to: Subaeruginosa

Non skilled laborers make around 25 bux an hour, 40 hours a week ,you would find something.... It's just you would have to live in the middle of nowhere...

I was just showing its possible to own cheaply, most people however want to live in the cities or on the coast and it's bloody expensive. For example another friend of mine just bought a 3 bedroom townhouse in the hills area of Sydney for 1.4 million... That's like WTF man ,that area is 30ks from the city and a massive bottleneck of traffic...




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