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Redpill me on investment homes
everyone is telling me I need to go an buy a house "cos it will only go up in value and you need to do it while you are young so you can pay $350k now instead of $600k in the future"
is it just boomers and property developers trying to scam me to buying their shit so they can get their quick $$$?
I live with my parents and feel no need to buy a house. and if anything they told me the house is going to be mine since with am the last one married.
if I did get my own house I wouldnt consider it an "investment that I can flip in the future for profit". people make it sounds like it's an easy thing to do, to just upgrade/downgrade like that.
if anything it would just be an asset because everyone needs a place to live and something to pass on to my kids so they don't have to worry about this bs.
but yeah. how is something that takes your whole life to pay off supposed to be an investment? people even say to rent it out so it pays for itself and have someone else pay your mortgage for you. but when are you supposed to see the fruits of this Labor ? won't it take 40-50 years of someone else renting for the house to finally be yours? and whose to say they won't fuck shit up or you won't end up with repairs and shit because of the tenants.
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>>130796619
Buying will save you money on the long run. Just dont be another retarded burger and finance your house completely with a mortgage. Put atleast 20% equity in at a minumum. If you cant afford that, you shouldnt buy the house.
The only reason mortages are good are for tax deducations, anything beyond that is fucking yourself.
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>>130796619
>Bull market since 2009
>unprecedented highs
>Fed has kept rate "below zero" (Quantitative Easing) for a long, long time.
Do NOT buy now. I love Trump but there will be a correction eventually.
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>>130797439
Rates are rising. What correction is coming ? Yes prices are high , but so is employment.
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>>130798604
I know but stocks are overvalued, looking as P/E ratios. Yes OP is talking about housing but when one falls...
Might not be as bad as the last recession but it's gotta happen eventually.
>at least there's a chance to finish off the Eurozone
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>>130796619
I've been looking to buy a home for a few years now, just in kind of a "keep my eyes open for something decent in my price range" kind of way.
Reports are currently saying that the bottom is going to drop out of the housing market in the next 5-7 months making the price of houses go down drastically.
Don't buy one right now unless the price is REALLY good, but once prices drop, absolutely buy one.
Thread posts: 6
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