BUYING A HOUSE IS NOT THE AMERICAN DREAM
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Mortgage rate is still so high ! I remember when they were 2% just 7 years ago
They bought a house and sold it after two years?! Bad example. Don’t buy a house unless you plan on living in it for at least 10 years
I bought a condo in 2015 for 150k it’s just about paid off and worth 350k but I’ll never be able to own a house with actual land
This is bullshit click bait. This only happens if you way overpay for a crap house in a crap neighborhood.
Don’t buy if you dont know how to increase value.
Yup exactly. Bought an apartment in a nice city near centrum in the country im living in. Already worth 80.000 dollars more after 2-1/2 years.
Exactly. I cashed out 100k on my sale after concessions and fees etc. I put maybe 30k into repairs and updating it so still a 70k win. Best investment i could have made at 23 was buying that condo
I would say that the focus should be on individual net worth, not cars or primary residence. Thats the true measure of worth.
Only 6% of the population has $1 million or more in liquid net worth
Ya and 75% of the population thinks having a million dollars means spending a bunch of money.
I bought a house 5 years ago.
I can make enough from cash buyers to get into a new house within a few weeks.
It’s not a bad decision if you plan on staying somewhere for a while.
It is a bad decision if you can’t control your finances.
That new house would be of similar quality, unless you move to a new market or pay more. And if you maintain your house, it only costs you money.
If you rent it, you make less than investing the equity unless you are highly leveraged.
I own many houses, and it kills me to compare them to my stocks (that don’t need the toilets replaced and don’t call me at 3AM). Houses are a job, they are not often a great investment. If you live in them, they aren’t an investment at all. They are a commitment to not move anymore.
DO NOT SELL TO CASH BUYERS your paying like 25-50k for convenience
@@sicarius5622Cash buyers don’t want to buy houses. They want to buy commercial real estate.
These people are property owners who rent them out, telling others not to buy and rent instead. It’s all about the people ownership, not black rock or whoever else wants to hoard and price gouge. Buy the house, keep a single homes in your family
I think all of that misses the point entirely. Buying a house is a bad investment if thats the place you live. When you move you are a motivated seller meaning you will take whatever the market is offering because you feel the need to unload it.
Either way when you’re moving and buying a new house you are either selling in a buyers market to buy in a buyers market or visa versa.
Its your house. Its where you live. And its a thing you NEED. So being a motivated seller or buyer is always going to make the homeowner lose.
Now if youre talking about being a property owner, that is a whole other game. You arent putting your own house on the line. You own a piece of property that you can just sit on and wait or rent or sell or use however suits you or works for the market at that time. You are in a far better position.
BUT all that being said… buying a home is still a good “investment” for your future. Because you need a home… not because you’ll make money off of it… but because buying a house that is reasonable with your income and with a reasonable interest rate that can beat the market (less than 5%) is a guaranteed place to live for the rest of your life. A thing you need… and it will be cheaper than renting for the rest of your life unless you had something crazy rent controlled or whatever.
Buying a house can be a good move. If bought at the right time (low) and at the right interest rate. No one talks about. The repairs and maintenance will eat you alive. There’s a lot of hidden and EXPENSIVE costs that people don’t consider. Roof, HVAC, windows, sewer/plumbing, windows, remodeling, landscaping, painting. And replacing everything “when” it wears out.
in that case owning one house is a liability. One day you may sell but then you may be too old to enjoy life and have to go live in a care home which is so expensive and will eat up whatever money that is from the sale of the house.
@@skylarius3757 That’s great ! Means they have some money to live in comfort in their final years. In a nicer care home. As opposed to becoming a ward of the state.
The people discouraging you from buying a house are the same ones that want you to rent theirs…..
If you can t afford it, don’t buy it. I buy my home and my vacation home the right time now, some of them worth million. Real estate it’s high value assets raise with time if you not under water
Dude renting anything is twice as much as owning it, you’re off your rocker bud 😂
I bought my house in 2022, its doubled in value
Only buy what you can afford. And then problems will start to dwindle.
As with *any* investment, it has to be done properly to be a *good* investment….
A house is to live in it not to make a quick buck. Houses take years to appreciate and there’s so many factors that can affect the price.
That’s was the situation after the 08 housing crash, somehow we are back there without a true crash??
Buying a house is like buying insurance. It’s the peace of mind of knowing no one is putting you out because you missed rent…. Smh
All these idiots when interest rates were so low and paying cash over asking price….ya wonder why this has come about now. Never pay full price on these types of purchases, be smarter, and do better folks.
Houses are for families