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Posted on 5/14/25 at 12:07 pm to weagle1999
quote:
You make money (IF you sell) but you lose flexibility. Your 15 year mortgage is an anchor.
Sure, if you value flexibility over home ownership and financial appreciation (mostly). And that's completely fine if you do.
The reality is alot people say they value flexibility then end up renting in the same town for 10 years and have nothing to show for it.
I've done both and I'd rather own.
Posted on 5/14/25 at 12:10 pm to weagle1999
The bigger issues is that most of the wealth in the US is stored up and illiquid in their home. Owning a home isn't a retirement account.
Posted on 5/14/25 at 12:19 pm to weagle1999
quote:
Who decided that owning a house is the American Dream?
Our ancestors thousands of years ago when they stopped being nomadic hunter gatherers and started settling in one spot.
quote:
A house is just stuff like any other stuff. Eventually after you are gone it will wear out and be gone too. Or someone else will live there who has no idea who you were.
Oh you're one of those modern nihilists. Carry on.
Posted on 5/14/25 at 12:28 pm to weagle1999
quote:George Bailey...
Who decided that owning a house is the American Dream?
Posted on 5/14/25 at 1:15 pm to weagle1999
a home is just about the only investment item that you can use while simultaneously earning increased value. Rental property pays for itself while increasing in value.
Posted on 5/14/25 at 1:44 pm to weagle1999
Again with this shite. The American Dream is what you want it to be.
Posted on 5/14/25 at 1:46 pm to weagle1999
quote:
Who decided that owning a house is the American Dream?
The banks
Posted on 5/14/25 at 8:05 pm to Shexter
quote:That must not have lasted very long, but the dream of owning a home was big for the cowpokes who worked for the big land owners.
Wish I'd been born a few centuries earlier during the land rush out West.
One day this week in an episode of The Virginian, Trampas fell in love with a beautiful girl and was planning to marry her. They went out to a tract of land and he told her where they would build their house and where her kitchen would be in it.
Posted on 5/14/25 at 8:07 pm to Shexter
quote:
Wish I'd been born a few centuries earlier during the land rush out West.
You'd have to deal with 100 degree summers and no A/C, which personally I'll take a modern apartment with A/C over 5 acres and a typical 1840 house with no A/C... unless you were lucky enough to get coastal California land where it stay 75 all year long. 7 generations later your offspring chain worth hundreds of millions from 100 acres out there.
This post was edited on 5/14/25 at 8:10 pm
Posted on 5/14/25 at 8:12 pm to piratedude
quote:
a home is just about the only investment item that you can use while simultaneously earning increased value. Rental property pays for itself while increasing in value.
Yes, but over the course of 25 years, the Nasdaq will likely 10x whatever you make on that property, and you won't have to lift a finger earning it. Meanwhile you have pain in the arse tenants, stuff breaks and is 5 figures, some delinquent, don't pay, some bail and you never hear from again mid lease, court dealings, neighbor problems with tenant or tenant has problem with neighbors expecting you to take care of it, some squatters, periods of times with no tenant. I don't get the appeal of real estate owner to lease over the Nasdaq 100 or M7 Tech stock. I feel it's because the people who do it can say "Look, I have 5 properties I own right now." to friends, Jones's, and secretary, whereas most people don't mention being in the Nasdaq 100 as a flaunt. Not to mention you don't really own those 5 properties until you pay off all the loans.
The only difference is you can't, or shouldn't, take out a $400k loan to put into the Nasdaq whereas you can with a house. I wonder why that isn't more common. I mean if interest rates get to 4% again, I would be shocked with AI, etc that the Nasdaq not beat 4% IRR.
This post was edited on 5/14/25 at 8:23 pm
Posted on 5/14/25 at 8:17 pm to weagle1999
It's not a bad way to spend money if you're going to have a place to live. And in most scenarios, it is financially better to own than rent.
But it's NOT the slam dunk everyone makes it out to be. It costs a lot to keep a house up to snuff, pay the taxes, insurance, etc. Some people just don't want to deal with it.
For the record, I own my house, no mortgage and have going on 20 years.
It can still be a PITA.
But it's NOT the slam dunk everyone makes it out to be. It costs a lot to keep a house up to snuff, pay the taxes, insurance, etc. Some people just don't want to deal with it.
For the record, I own my house, no mortgage and have going on 20 years.
It can still be a PITA.
Posted on 5/14/25 at 8:18 pm to weagle1999
It was back in the 60’s-80’s.
Posted on 5/14/25 at 8:21 pm to CAD703X
quote:
do whatever the frick you want to do on it
I'm with you, but the large majority of homeowners live in city limits or have an HOA and can't do whatever they want with it.
Posted on 5/14/25 at 8:55 pm to weagle1999
quote:I’m not particularly traditional but I’m cool with this convention. Owning your own home is dope.
Who decided that owning a house is the American Dream?
Posted on 5/14/25 at 9:05 pm to weagle1999
quote:Give me the anchor. I hate moving. I want enough money some day so that even if I do move I’ll just keep my house as is and come back around when necessary.
Except you have to sell the house. You can decide to not renew your lease or break your apartment’s lease and walk away in short order if you decide to do so. You make money (IF you sell) but you lose flexibility. Your 15 year mortgage is an anchor.
Posted on 5/14/25 at 9:12 pm to weagle1999
quote:
Maybe our assumptions of what we should have in life were curated and planted by others.
You got a load of down votes, by speaking truth to the convinced
Bravo !
Posted on 5/15/25 at 9:00 am to Saunson69
quote:
7 generations later your offspring chain worth hundreds of millions from 100 acres out there.
That's the reason. Land is one thing they're not making any more of.
Posted on 5/15/25 at 10:28 am to Saunson69
quote:
Yes, but over the course of 25 years, the Nasdaq will likely 10x whatever you make on that property, and you won't have to lift a finger earning it.
the difference between home ownership to investment in the Nasdaq is that investment requires money over and above that required for living expenses. owning instead of renting allows living expenses to also function as an investment. Essentially the same for rental properties. it requires some up front investment, but the remainder of the investment (loan payout) is provided by the investment itself in rental income, tax benefits and appreciation.
Sure, if i had $5000 per month for the stock market, maybe home ownership or rental ownership wouldn't seem so lucrative. but for those without the availability of funds for continual investment, real estate is a pretty decent vehicle for wealth growth
Posted on 5/15/25 at 10:37 am to weagle1999
quote:
Why do our leaders always talk about making it easier for Americans to buy stuff, but not about finding ways for Americans to have more free time?
Who is stopping you from increasing your feee time?
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