07-01-2022, 11:56 PM | #29 |
¯\_(ツ)_/¯
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My house in Idaho i bought 3 years ago has more than doubled in price. Not good unless I'm selling. My property tax has also more than doubled.
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07-02-2022, 01:43 AM | #30 | |
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Putting 20% down isn’t a guarantee that a person can escape from under the property without being under water, nor is it the case that someone who puts 3.5% down is inherently doing so with high risk. Maybe they have assets in the form of a 401k or vehicles or whatever that they can liquidate, but they would rather not liquidate those to buy with 20% down, yet if they wait for the 20% in another five years of savings, they can’t catch up to the growth. Your home has grown at 3%, which is about the rate of inflation. Maybe the area isn’t the norm for the country or for the Atlanta area. I was explaining more about a mentality that exists, and it exists everywhere not just the west coast, and a concept that is taught and believed that a home with indefinitely appreciate and that it builds wealth, while also suggesting that such mentality is part of the driving force for unsustainable growth in home values.
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07-02-2022, 01:51 AM | #31 | |
¯\_(ツ)_/¯
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I don't know the point of this thread. |
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07-02-2022, 02:09 AM | #32 |
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Anyone with a tiny bit of financial sense, and the money to buy into the market can make a bunch of money in real estate.
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07-02-2022, 02:30 AM | #33 |
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Eventually the market has to plateau though, doesn't it? Wages aren't going up, but every other expense is. Or is everyone just going to rent in 10 years except for the top 5%?
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07-02-2022, 02:42 AM | #34 |
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07-02-2022, 02:47 AM | #35 |
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07-02-2022, 08:59 AM | #36 | |
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Quote:
https://wolfstreet.com/2019/07/12/ch...d-major-metro/ It’s a problem in many places too.
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07-02-2022, 09:23 AM | #37 |
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.
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07-02-2022, 09:23 AM | #38 | |
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The only way it can be an investment is if it becomes unattainable for all but the rich. Much like California now. That is not a good thing for the economy at large. Just for the rich.
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Second chance build... or whatever it is.
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07-02-2022, 09:58 AM | #39 |
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Nope, not good at all.
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07-02-2022, 11:03 AM | #41 |
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I can do this all day.
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07-02-2022, 11:33 AM | #42 | |
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Since the 08’ recession rental agencies have been buying foreclosed houses. Companies with nothing to do with the rental or home market have opened investment property divisions. The problem is states like OR have maximum year increase caps, and as businesses do, they are going to raise it the max they can every year and have been for years.
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