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re: 4 reasons why the economy is crumbling.
Posted on 5/15/22 at 8:40 pm to the808bass
Posted on 5/15/22 at 8:40 pm to the808bass
quote:
Who are the people selling houses who are not buying? Dead people. Who else?
I’ve seen more people homesteading lately. I doubt it’s a large segment of society, but I haven’t ever seen the amount of people doing this before. So I think some are selling and sharing property with family. Even if they’re building on the same lot.
People are definitely selling and buying. And really
There isn’t an ideal time to sell and buy. When prices are high, you get more for selling but it’s over spend on the next home. Opposite situation when prices are low. I can’t imagine coming out of college or getting married right now trying to afford your first house. $250k for a starter Home is a ripoff. I paid a little less than $95k for my first home with my wife in 2008. Glad I got in then.
This post was edited on 5/15/22 at 8:41 pm
1
Posted on 5/16/22 at 9:52 am to WhiskeyThrottle
quote:This is the truth. The worst situation is to buy a home in a hot market and basically overpay for a home, and then be forced to sell (by a job loss or moving for a new job) in a down market and then get less than you paid or make no money off the sale.
There isn’t an ideal time to sell and buy. When prices are high, you get more for selling but it’s over spend on the next home. Opposite situation when prices are low.
The optimal thing to do is to buy a home in a down market when prices are reasonable. Live in it until the market rises, sell it at a profit, and find a home at a reasonable price that needs some work. Profit.
This post was edited on 5/16/22 at 9:53 am
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