[vintageogauge]

Originally Posted by Zenmama18

Ours was 12 3/8% and we felt lucky to get that!

In our younger days when we needed mortgages they ran between 9 and 14%, the last one we had was 9% and that was in 1993.

[patfla06]

Originally Posted by BrianL99

With the lack of curb appeal, that house is going to be sitting until they make a drastic price reduction. U G L Y !

I think this house is nice, it just needs some landscaping.
I wouldn’t ever say this house is ugly.

[Craig Vernon]

Originally Posted by Sheri

Are you a sales agent for The Villages? I’m wondering how you got these numbers for current preowned and new homes?

I counted them on TV and Zillow sights. No, I am not a realtor or Village sales agent.

[melpetezrinski]

Originally Posted by MrChip72

Most people that are even moderately savvy with with finances would consider that a misguided take to be honest especially if their mortgage rate is 3-4%. You can beat that rate moderately with a variety of extremely safe investments currently, and beat it by a lot long term invested in index funds.

It's better to optimize your money than have it 100% tied up in real estate making you zero returns. Many of the world's billionaires don't own most of their homes outright.

I agree with your 1st paragraph but are you sure about that "zero return" as it relates to your opportunity cost argument? And I'm not talking about capital appreciation.

[MrChip72]

Originally Posted by melpetezrinski

I agree with your 1st paragraph but are you sure about that "zero return" as it relates to your opportunity cost argument? And I'm not talking about capital appreciation.

My intention behind that comment was that having your home paid off you're only getting capital appreciation. That money is "dead money" otherwise. In the past 20 years it was easy to pull a modest amount of money out your home in a home equity line of credit (HELOC) for under 5% or much less in most cases and then invest it to generate income if you're willing to take on a small amount of risk for extra income.

Obviously that's not necessarily as viable of a strategy now in the current interest rate environment.

[Laker14]

Originally Posted by dewilson58

Again......................that is an investment decision.

I remind you that your original statement on this subject was a blanket statement "Sad if a retired person purchases in TV and has a mortgage."...

you said it was "sad", you didn't specify that it was sad "unless of course it was an investment decision" which seems to be your new stance.

you seem unwilling to acknowledge that your initial blanket statement was, in fact, just wrong.

It's OK...

[Laker14]

What would be sad would be buying a home that proves to be too much of a strain on the finances, or as they say, become "house poor". That can happen by buying a house that costs too much, relative to one's ability to pay for it.

Whether one overspends on a house with a mortgage, or by depleting one's reserves in order to pay cash, the result is still a lot of stress.

If one can afford the house, and still have resources left over to comfortably pay for the other things in life that need to be paid for, whether it's a cash deal or an affordable mortgage payment, there is no need to be "sad".

[dewilson58]

Originally Posted by Laker14

you said it was "sad", you didn't specify that it was sad "unless of course it was an investment decision" which seems to be your new stance.

i stated it's an investment decision 120 posts ago.

read and educate oneself

jus found a new sad.

[Laker14]

Originally Posted by dewilson58

i stated it's an investment decision 120 posts ago.

read and educate oneself

jus found a new sad.

So that was your acknowledgment that you were wrong when you said having a mortgage was sad?

[Normal]

Originally Posted by Laker14

So that was your acknowledgment that you were wrong when you said having a mortgage was sad?

Almost aloof. We all put our pants on one leg at a time, and we all have the same Maker.

[thelegges]

Originally Posted by Normal

Almost aloof. We all put our pants on one leg at a time, and we all have the same Maker.

Actually never put on pants one leg at a time. You truly believe everyone has this Maker that you speak of? Some have very different beliefs

[CoachKandSportsguy]

Originally Posted by dewilson58

Dude, that's an investment decision...........not what I'm talking about. If you want to leverage, leverage.............I don't care.

Actually, I think the cash versus mortgage is the financing decision, after the investment decision, but I understand your point. But then i might reject the investment decision since buying a home to live in is never an investment decision from a finance point of view.

so we are back to being at a mexican standoff..


obviously, none of us have enough to do in our regular lives today

[melpetezrinski]

Originally Posted by CoachKandSportsguy

Actually, I think the cash versus mortgage is the financing decision, after the investment decision, but I understand your point. But then i might reject the investment decision since buying a home to live in is never an investment decision from a finance point of view.

so we are back to being at a mexican standoff..


obviously, none of us have enough to do in our regular lives today

So, back in 2019, we were looking to move to a different home in TV. At the same time, we were deciding where to invest a recent inheritance. We were fairly risk averse and yields on treasuries and the like were very low, so we decided to invest the inheritance in a way more expensive house than we needed. Our plan was to sell in 3-5 years, which we did, and reap the capital appreciation. How is this NOT and "investment decision from a finance point of view."

[Topspinmo]

Originally Posted by Craig Vernon

The Villages success is based upon likeminded folks that save and move to a beautiful place to reward a lifetime of effort. The last few years have priced homes out of many savers range and moved sales into an elevated investment cycle that hurts the environment for snowbirds and full-time residents. As the place we love becomes a less desirable investment many of the problems that have come with it simply go away. This morning's listings Zillow 384, TV preowned 394, TV new 314 and growing. This is the largest number of listed new construction since I started keeping track in 2020 and just short of twice the number which was 199 in January of this year. I asked the Village Newcomers Jerry and Linda on their YouTube channel if they would or could have moved here if prices were where they are now. The answer was "No," and they are a prime example two retired teachers with pensions coming to their happy place. See you all in February. Have a Great Day!

IMO If two retiring teachers (what age 50?) don’t have enough funds to buy house approaching retirement they have either overspent ( on children or taking trips every summer ect…). Or been divorced or have medical expense which I doubt the cause due to teachers union healthcare. Each situation different can’t lump all to one example.

[Topspinmo]

Originally Posted by CoachKandSportsguy

Actually, I think the cash versus mortgage is the financing decision, after the investment decision, but I understand your point. But then i might reject the investment decision since buying a home to live in is never an investment decision from a finance point of view.

so we are back to being at a mexican standoff..


obviously, none of us have enough to do in our regular lives today

Or could lose the investment from bad advice or bad decisions and be without house? Meaning I’d you got mortgage really not your. It’s the banks.