Quote:
Originally Posted by DAVES
HUH? Sell now and buy later? Then, rather than betting on the stock market and real estate, you are betting on the fiat dollar which I read somewhere or other has lost 12% this past year. Oh and add to that you will likely pay TAX on what you sell.
Everyone has their own financial reality. For those who own a home and want to sell it and buy in the villages, the home they own is also INFLATED in value so it is a wash or partial wash.
As far as people not being able to buy homes. Under CAPITALISM, if people can't afford to pay the price the price will either drop or the goods will not be produced.
Turn up the violin music. When first married I owed 13,000 in college loans. In today's dollars that is roughly 7x so 91,000. We lived in a dive and I worked 6 and 7 days a week. I PAID MY LOAN. We SAVED money to buy a home. A truly strange concept for many. We need to live and be happy with what is not with what we think should be.
Should be is a moving target and thus will never be.
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Some on this site are saying TV housing has appreciated as much 100% in a year. Certainly the dollar has not deflated by 50%.
Footnote - today's stock market was invented in Amsterdam in 1611. The first commodity bubble was tulips. Owning tulips bulbs was a status symbol for the rich and famous. The demand for bulbs went crazy. Investors buying and selling without ever taking procession of a tulip bulb. One particular kind of bulb sold $76000. In 1630 people started to loose interest in tulip bulbs plus the horticulturists were developing bulbs as fast as possible (increase supply). In 1630 it took a mere 6 weeks for the tulip market to crash and loose 90%. Suddenly tulips were no longer accepted as a financial instrument.
So why the story - I'm tired of these 10 cent millionaires here in TV brag about the value of their IRIS, GARDENIA, Etc. It is meaningless and like tulips they don't take houses in the supermarket in exchange for food.