A house is not a home till you’ve found some mouth to devour your bone
that wants to take a shower , but in that hour you’re just powering hole
jackhammer smooth as the extra fat on her buttflaps swings back and moves
that gets distracted by your sack and wants to sap its goo
that’s the truth
Spent when your dicck cumms
then the kids come
and it’s Kingdom Come
It isn’t my business if you hittin the mistress different things for different ones
Well... if you have an eight figure net worth you don’t need to play these silly games.
But if you don’t...
For most people their house is their biggest “investment”. Most home owners are currently sitting on a good chunk of equity. This equity is probably >50% of their net worth.
Nobody is currently talking about how to protect this value.
Here’s a scenario — inflation starts bordering on hyper inflation and they raise rates. If rates for a 30 year mortgage went up to a historically reasonable number like 6% the housing market would get demolished.
So would your 401k.
Now the guy that thought he was playing it safe just lost 50% of his net worth.
Your forever home and investment property are not the same. As all things finding repairable structures buying into the purchase repair sell or rent is the investment angle. Building a dream home and thinking of investment potential is not realistic.
There isn't going to be profitable and reality it shouldn't it your home. Maintenance costs of for the pool lawn trees well septic roof siding tar driveway ect act all needs to be eventually replaced. This is all out of pocket expenses that continue to absorb any profit in your actual home.
The wife and I already did "B." Now cash-heavy, but it ain't all roses.
1) The rental market is ridiculous. Rents are twice what they were four years ago...there just isn't any supply.
2) The "buyers" market will develop regionally, not nationally. COVID, taxes, and crime have spawned the great migration from urban to rural areas. Anyone with any means is getting out of the cities. I live in MT...the prices here are beginning to look like beachfront Hawaii. They may retrace, but the "work from home" culture has changed the market completely. Thousands, and I mean thousands, of professionals have moved from NYC to Bozeman, MT...they watched Yellowstone and decided to move out. It's crazy to hear a Brooklyn accent in MT outside of tourist season.
Of course, the scene will eventually change. Within the next 24 months, the Fed will quit flooding mortgage lenders with 0% cash and buying huge chunks of mortgage-backed securities (MBS) via QE Unlimited. Remember 2008 and the MBS debacle? The Fed is now buying these things and acting as the lender of last resort to the world. Eventually, rates will go up. The big one here is the tax question; I expect the 2-year tax-free status on primary residence sales to be raised to 5-10 yrs or abolished altogether. IF a bulk of leveraged homeowners are subject to short-term 40% capital gains on sales, the market crashes.
But, we may be going the way of Japan... ongoing QE and a constant "pump" of the monetary supply. At this point, we have to admit that the home market as we know it, as well as American finance in general, has changed forever.
@bigvern1013
First it was Oregon. Then Idaho. Now Montana. Everyone wants out of the city. I'm set up here in Oregon pretty good but I have been looking into land in Montana. Got money to invest and I want to do somethint like start a cattle ranch. A pet project that hopefully becomes something profitable.
@StumpTownStu
Best of luck on the Montana venture. I hope you can make it work. Depends on where you are here, but decent chunks of land (water, utilities, enough acreage for cattle) start at $500,000.
A friend of mine just listed his house for sale...he built it 3 years ago near Missoula...3400 square feet, split level, 3 acres. It's new, but it isn't a palace. Listed for 875,000. The realtor told him it will be sold in a week.
I also know a builder in Helena that just sold a home. 1400 square feet, city lot...the place sold for $410,000 in 8 hours. Cash buyer, made the purchase site unseen.
This place is crazy. I think we are headed out...
After what my neighbour sold his house for I talk to someone just to get a feel for what was going on.
I thought about a few improvements I wanted to make first.
He said dont bother.Youll still sell it at the price your asking. Crazy.
Have a feeling when I finally do decide to sell it will be to late.
But thats ok.
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