Quote:
Originally Posted by Shadywood
We came here last Jan. and spent a week looking at homes. We bought one and then went home and put our Texas house up for sale. It sold in 3 days in a bidding war at $10,000 over asking price -- and my asking price was $50K over the price I was asking the previous year when I gave up and took it off the market. I got enough on my Texas house to buy TWO houses in TV.
So it's not just TV.
Nobody will confirm it, but my theory is that millions of Boomers like me, with a lifetime of savings to lose, looked at 6 trillion in new deficit spending over that past two years and did the math on what another Carter inflation would do to their retirement plans.
They probably realized that storing several hundred thousand dollars worth of gold in their safe wasn't a great plan, and then noticed that mortgage rates were lower than their grandparents ever saw in their lifetimes. The only thing that holds its value long term through an inflation better than gold is real estate -- at least, assuming the country inflating the money survives the experience. And a safe full of gold isn't going to do you much good, either, if it doesn't.
Personally, I thought long and hard about putting my money into a prepper escape plan for my whole family. My kids thought I was nuts. Oh, well. I guess it's their world, now, and if they aren't worried, why should I be?
So we bought our little bit of heaven in this disneyworld-for-old-folks, where we plan to spend our last few years living it up, regardless of what happens. I bet a lot of people came to the same conclusion.
Whatever the true reason for this bubble is, I doubt that it will end any better than the last one.
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My thinking was similar, to the extent that I figured with the stock market values as high as they are (talk about bubbles), and savings returns as low as they are, a home in TV would likely do as well, if not better, than either of those other two options, over the next decade and a half, which is likely the most optimistic time frame for DW and I to be actively living the Villages lifestyle.