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re: Interesting question: Is home ownership becoming the new "college degree"?
Posted on 8/17/25 at 4:08 pm to IamNotaRobot
Posted on 8/17/25 at 4:08 pm to IamNotaRobot
quote:
That’s the key. Like all expenses, only buy what you can afford. I was amazed what I was pre-approved for when I bought my first house. I thought they were nuts. Maybe not idk. The worst I’ve seen most folks do is break even on a home and that isn’t bad when you think about it.
My mortgage, principal and interest, is less than half my payment because of my insurance and taxes quadrupling since I've owned the home.
1
Posted on 8/17/25 at 4:35 pm to SlowFlowPro
quote:
The institutional investors started pulling out bigly already because of the threat of a market downturn. They'd be fricked more than consumers in that scenario.
If corporate interests are dumping homes, who is buying them currently?
Posted on 8/17/25 at 4:37 pm to SlowFlowPro
quote:
So you agree with the premise that buying a home today is as bad/worse than college degrees? Because housing is severely inflated
Actually...and I hate to agree with you...but yes. Yes it is a very bad decision currently.
Posted on 8/17/25 at 4:48 pm to DonJuanDaMiles
quote:gonna need lat and long coordinates and names of these developments
building entire developments that you can’t even buy into that are rent only from inception.
This post was edited on 8/17/25 at 4:48 pm
Posted on 8/17/25 at 5:22 pm to evil cockroach
quote:
gonna need lat and long coordinates and names of these developments
Happened quite often when interest rates were rock bottom.
LINK
Edit: sorry, my response made it sound like private investment companies bought entire neighborhoods frequently. They did not, but they did buy houses at a good clip.
This post was edited on 8/17/25 at 5:26 pm
Posted on 8/17/25 at 5:32 pm to evil cockroach
quote:
gonna need lat and long coordinates and names of these developments
How about the names? Gonna need you to do your own research.
Posted on 8/17/25 at 8:37 pm to SlowFlowPro
quote:
So you agree with the premise that buying a home today is as bad/worse than college degrees? Because housing is severely inflated.
What part of housing is severely inflated? Concrete? Lumber? Freight?
Or using the income approach, rent prices? Ability to pay? Demand for housing in general?
Posted on 8/18/25 at 9:10 am to SlowFlowPro
How does this work when we many have to sell our homes after 30+ years because the neighborhood declined?
Posted on 8/18/25 at 9:30 am to SlowFlowPro
wrong...not an interesting question at all
Posted on 8/18/25 at 9:30 am to SlowFlowPro
quote:
Is home ownership becoming the new "college degree"
I like this comparison in the sense that both will almost assuredly remain good investments if you are smart about how you go about it.
The college one is obvious. You pick a good major, you will probably do well for yourself.
The housing one a bit less so. You need to be choosy about your house on multiple levels to insulate your investment. Purchase price is a big one, but what about external factors that can influence value?
-Location
-Governance of city, county, and state you live in. Are they overly radical one way or the other?
-Demographics
-Future housing developments. Is there land near you that can be developed in the future? Thats part of the reason I picked where I live. Nice neighborhood, no chance for any developments in the future. If you want to live in the area I live in, you buy into one of 2 different neighborhoods. Development anywhere outside of those is literally impossible.
Posted on 8/18/25 at 11:03 am to SlowFlowPro
quote:
home is a life decision, not just an investment: Buying a primary residence is more about a long-term plan and putting down roots than it is about making a profit
It can certainly be both, even today.
Many going to college in the last 25 years fell into the trap of not evaluating degree/career demand and income potential.
They are strapped with crazy amount of tuition debt and a degree they cannot use or is not lucrative enough to support themselves.
Posted on 8/18/25 at 11:59 am to GRTiger
The folks most likely to commit crimes are those much less likely to be able bond themselves out of jail. Just saying.
Posted on 8/18/25 at 12:49 pm to SlowFlowPro
quote:Too many Americans don't understand "luck" is something more often endogenously made than exogenously bestowed.
Too many Americans benefited from being lucky and on the right side of variance
Posted on 8/18/25 at 1:17 pm to DonJuanDaMiles
quote:got it, the response is "trust me".
How about the names? Gonna need you to do your own research.
Posted on 8/18/25 at 1:23 pm to NC_Tigah
quote:
Too many Americans don't understand "luck" is something more often endogenously made than exogenously bestowed.
My full comment made that unnecessary.
Posted on 8/18/25 at 1:28 pm to NC_Tigah
quote:
Too many Americans don't understand "luck" is something more often endogenously made than exogenously bestowed.
Man shut the frick up
Posted on 8/18/25 at 3:21 pm to Sun God
quote:No thanks.
Man shut the frick up
Zuckerberg just got lucky. Sam Altman just got lucky. Beyoncé and Taylor Swift ... just lucky. The Winklevoss twins ... just lucky. A 30-something who recognized the unique RE opportunities 2012 brought, both in pricing and lending rates, forwent "urban experiences" in order to buy a home in that environment, and has now made a small fortune on it ... just lucky. The 30-something who exchanged 4 years of college for 4yrs of military service and now is college loan debt free ... just lucky. The guy who decided to pursue a professional degree rather than a worthless general one ... just lucky.
No man, you STFU.
This post was edited on 8/18/25 at 3:29 pm
Posted on 8/18/25 at 3:23 pm to UtahCajun
quote:
If corporate interests are dumping homes, who is buying them currently?
I don't see much if anything moving in the two markets I'm watching the closest.
Unless you got in before prices went sky high, people aren't selling at a point that buyers are willing to pay since they don't want to lose money in a sale.
Posted on 8/18/25 at 3:47 pm to SlowFlowPro
I have a 26 year old employee who is making about $80K a year (no degree, has been in facility maintenance planning since high school) who is getting married to a nurse practitioner in April, 2026. They are house shopping and their families have given them up to $90K (between both sets of inlaws) to use as a down payment. They are being inundated with realtors LOL. They have almost settled on a 2 Bedroom 2.5 bath 1300 sq foot house on .3 acres for $450k in a neighborhood where everything else is a 3/2 and 2000 sq feet or bigger and priced under $400k. Good area, house is way over priced but it has extremely high end finishes for the area. He is a little upset with the inlaws telling them it is over priced. I wouldn't touch it for $300k. Hard to find a buyer for a small 2 BR with high end finishes no matter how nice it is...and it is nice. The realtor has told them the attic can be converted to living space LOL...and it may be possible IF the county would allow it, the HOA would allow it and they had another $150K.....I mentioned to him today that its unlikely, based on typical comps, to appraise for anywhere near that amount of money and he had no idea what I was talking about....
Posted on 8/18/25 at 3:49 pm to HailHailtoMichigan!
quote:
It is stale 1950s style thinking to view home ownership as a necessary component of becoming wealthy
It can actually prevent one from becoming wealthy if it prevents one from advancing their career. A sure fire way to get a healthy raise is to be in a position to relocate....hard to do when you have a pile of bricks tying you down.
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