I was scheduled to close on a brand new construction earlier this month. You helped me see what’s going on in the market and I decided to back out and thankfully got my earnest money back!!! Now the house is on the market for a 30k price cut… thank you man!!!
You were so so smart to listen and follow through because I'm sure it was a very hard emotional decission to make! My mom always told me not to make a decission based on feelings but a decission based on fact/reality. You just set an excellent example of doing this for others! Kiddos!
Nicely done my friend. Now turn around and drop 30k into a few acres away from everyone else where you can build a cabin with little to no mortgage, aka no frills, but where you can live, raise some chickens, and grow some food to take care of your family when this all collapses. Cheers
I mean nice job, but what on Earth were you thinking? You couldn't see unemployment skyrocketing, home inventory rocketing past pre-covid levels and median home prices 40% higher than any bubble in history relative to the median income? Homes will be 60% off next year, and they'll stay that low for 4-5 years. As nice as that sounds, most people still won't be able to afford them with no income.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away.
You're right. I was able to diversify my portfolio across markets with the aid of an investment coach, and I was able to use high dividend yield stocks, ETFs, and bonds to generate a little over $830K in net profit.
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look her up.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
All a scam, housing is the worst investments as Charlie Munger said and I agree. Even for those who want to real estate will lose 60% value from here on.
And who pays for schools?. ( I mean Aside from the ones with no children, who are the ones getting ripped off for life). I bet you have children, yet you want OTHERS to pay for them😂. It’s always the ones benefiting that complain the most
I actually just pulled out of a condo purchase because i saw on the hoa disclosure the hoa fee increasing from 277 to 850 within 4 year, never pulled out faster in my life
I had/have the money to buy, but I didn't and still won't. I knew this ridiculous bubble would eventually pop. There is no way I am going to overpay by a lot for older, outdated homes that need updating, which will take even more out of my pocket. All those people who came in and outbid were foolish. I tried to warn them, but I was laughed at. They said the prices and lumber weren't ever going to come down. Some people are completely ignorant of economic cycles. I will hold that money, and if I don't need it to survive during this downturn, I will buy at the low.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
It's likely going to grow worse. Housing that is affordable will soon become unaffordable. Consequently, I will encourage everyone who wants to take action to take it now, as today's prices will appear to be lower than they are tomorrow. I believe that we will witness hysteria as a result of unchecked inflation until the Fed takes additional action. The band-aid cannot be torn off halfway.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Jessica on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
I feel Investors should exercise caution with their exposure and.exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or a licensed expert in order to navigate this recession and achieve potential high yields
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
I got my money back from 2 different offers I put in. Why did I cancel? Because inspection came back with issues on the home. The owners wanted me to pay for the damages and or issues that were found on the homes. Plus they didn't want to go down on the prices but wanted me to pay for the fixing of the home. How is that even an option?
The buying frenzy is over. I think a lot of these canceled contracts are from home inspections. People were so desperate a few years ago they looked past major problems. I think people are starting to realize the home they are about to buy needs 10, 20 or 50K worth of work- and they don't got it.
I recently watched a Realtor tail, a home inspector, as he inspected the property on behalf of the buyer. The listing agent was not happy with inspector.
@@jonathantaylor6926 agreed. People have time now to get inspections and quotes on insurance. Then all the numbers can be analyzed before they seal the deal. 🤝
"Politics is now and always has been just the clever and deceptive art of using euphemisms, lies, emotionalism, and fear-mongering in order to dupe average people like you and me into accepting and demanding the chains of our own enslavement."- Larken Rose. The Dangerous Superstition.
I'm in oklahoma and I'm paying 2400 per year for insurance on a $220k home built in 2018. No claims ever. It was $1200 per year when I moved in in 2020. My property taxes are $2200 per year and has only went up $300 since moving in. But even worse, I'm paying almost $4000 per year in insurance for 2 vehicles (19 ford explorer, 17 f150). How am I paying more for my vehicles than my home??? No claims or accidents or tickets either! I'm so sick of insurance! No wonder oklahoma has the most uninsured motorists in the country! We can't afford it!
I bought home insurance in Oklahoma about ten years ago on a house built in 2004. It was with Allstate and they came and inspected the roof. All they cared about was the roof. It was about $1200 a year. I finally dropped it and went uninsured.
Cancel it, and look for another one, I did after they raised mine from $250 to $750 p/month. Finally found another one much cheaper. Don’t let them twist your hands.
Renters insurance is $30/mo vs. the $200 we were paying for homeowners insurance. Property taxes were $850/mo (2% of FMV). Sold and moved out of the Northeast. Monthly cash flow improved by a minimum of $1400/mo by renting not owning.
That's the goal. Exactly how you responded is what they want. They want a renter class. They are purposely making renting much more attractive. Then big corporations will buy up the inventory. "You will.own nothing and be happy." Goal for 2030.
I'm closing in on retirement and I'll love to move from Minnesota to a warmer climate, but home prices seems ridiculous today, do I go ahead with buying a house anyways, or look at other sectors of the market as of now?
consider talking to a well-seasoned advisor about which sectors of the market is thriving to focus your portfolio on, diversification is actually key to good investing.
Agreed, amid covid-19 outbreak, i simply adopted the services of a certified financial planner instead of panic, and thankfully, I've accrued nearly $1m ROI after subsequent investments to date, marking my most significant milestone
I take guidance from a Montana-based advisor "Katherine Nance Dietz". To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad i did.
thanks for putting this out, curiously inputted Katherine Nance Dietz on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
Canceled my contract yesterday but only because my lender found out the HOA I was moving to was doing shady things and then wouldn't loan me the money unless I put 20% down. Maybe a blessing in disguise but now back to renting for another year and hoping the market crashes
Property taxes should be illegal. This is saying you don't own the property. I wanted to buy a home but I am retired and I do not want the added payments each month.
System is working as intended. They dont want you to be independent of their control. Taxes arent there to fund the gov they are used to control behavior.
My renter's insurance was $85 for the year. I tried to get in last October with a USDA loan. They said I didn't qualify and were going for a conventional loan. Either option I realized the payments were more than I was comfortable with. I told them I was unwilling to move forward only to lose the home to foreclosure later on. They got upset with me and kept saying I wouldn't get my down payment back. Made me feel as if I was just another commission, not a person. I cancelled the contract and thankfully got the $7,000 down payment back.
Renter Insurance < $80 annually. Sold my home in 2007 and renting a house for less than 50% of a monthly mortgage payment if I owned it. No taxes, no homeowners insurance, no repairs. Been out of the fight. But will I ever own a home again? Does anyone ever really own their home anyway?!!
I canceled my contract in Texas because I realized that my insurance and taxes alone would cost what my luxury apartment costs. This is before accounting for P&I. Thankfully I recovered my earnest but lost my option fee and inspection cost. Small price to pay.
The bank pre-qualified me for almost 50% of my income. WTF. I did the same as you, and it's jawdropping that there are so many Americans that fall for it.
The entire economic system is facing unprecedented challenges right now, and the housing market is no exception. Given the widespread uncertainty, I wouldn’t recommend anyone buy a home or make any significant financial commitments until after the election or early next year when we have a clearer picture of how things will unfold. The risks are too high, and the potential for market instability is very real. Encouraging someone to buy in this climate seems almost immoral, considering how obvious and pervasive the issues are.
There is no collapse. This is made to give hope to potential home buyer. The truth is interest rates will continue to drop and asset prices will continue to increase including real estate. If you can buy do it yesterday or you will regret taking this videos advice.
I think there has been a bubble in housing in many areas so there likely will be a contraction in prices. Long term however everything of value will increase as currency depreciation is baked in.
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
I like how the FED talks about "stable" inflation and "stable" unemployment.. their dual mandate.... but what's funny is the FFR going to 0.25% to 5.25% sure as hell is not "stable"... what we really need is stable interest rates but the FED will never let that happen.
@@dissident112 Only the government would have access to interest free money creation. This money creation would take the place of taxes. But in the end inflation doesn't care who is doing the money creation. The only metric that matters to inflation is the supply of dollars relative to the supply of goods and services. Also I wouldn't be so sure about more QE... QE has its limits. A nation can not have low interest rates and high inflation- that is impossible. The FED can't just ignore inflation... because who is going to buy 10 year US bonds paying 1.5% if inflation is 4%? Nobody but the FED, meaning the FED would literally have to be the exclusive buyer of UST's which would require trillions of dollars of money creation per year. They will end up with hyperinflation if they try.
@@jonathantaylor6926and that's EXACTLY the course we started in 2009. We're just waiting for BRICS+++ to roll out their new currency and the Saudi's will accept it for Oil- and there goes the PetroDollar and the USD as the world reserve currency. All those Trillions we've been exporting as Debt will come back to us.
I think there are plenty of reasons to back out of contracts and we should probably coach people when to back out of a contract. I remember going to build a home and all the experts around me were saying the price was going to be about $_____k. However, after preparing all of the documents, allocating the money, and having the banks at the ready, the contractor gave me a closer quote that was about $200-$300k more than originally expected. I was 80% sure the contractor miscalculated some things but time was out. If I didn't back out of the deal now, I would possibly lose $12k on a hunch. So, I backed out. There's a lot of pressure to complete a sale even when the math doesn't add up and a lot of information doesn't come up till the last minute.
@@tracy9058 All but like $2k. My contract was pretty clear and I didn't pay for the permits yet. The permits would've been really sad cause that was like another $10k and they were needed to get the final quote. It is much better to pay for the land outright and then get a loan to build. I was trying a loan that was doing a bit of both so that I had more liquidity for the build and that really slows the process down. It also puts you more at risk to lose money at the start of something isn't right.
I’m out in San Antonio I bought in December 2019. My taxes were over 5000 the first year now they’re well over 7000 I have seen almost at 40% increase in my taxes. I tried to protest and was unsuccessful in getting in front of the board found out that I have been denied my ag exempt for the past five years because I feel the paperwork out wrong. Nobody told me that was why I was denied, until I was in front of a lady at the office preparing to go in front of the board. They are still denying me my ag exemption. not to mention that my real estate agent never told me that my taxes would go up above the 2000 the people were paying on the property I bought. Even though I brought it up many times. He also recommended a guy for a home inspection, which came out pretty good. When I showed up at the property, the roof was old the siding was rotten and some cosmetic work was done to cover up other problems.
So you bought a house, sight unseen? I looked at Texas and that was one of the reasons I didn't even look; because the real estate taxes and home owners insurance can be staggering.
I live in SA also … in 2009 I bought an investment property… taxes were $2200 yr. They typically went up a few hundred dollars a year if any at all .. until 4 yrs ago. My taxes are now at $3900 yr .. the last 3 yrs have been brutal 😔 & I have protested every year!! This is supposed to be for my retirement…🤨😤
@@nicholasscholten4838 no I came out to see it. I just didn’t know about that sticker, and I was in sandals and shorts and had little time to do my due diligence. I was driving my girlfriend through the area when I got to come out and look it didn’t look that bad, once you’re on the property and have the chance to look into the state of the place when I found the problems. Didn’t find out about the taxes until the first bill came and it was in the 5000 for a couple years then it jumped $2000 in one year and it’s been there ever since.
You work for 40vrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life.
Lots of social problems in America, and no matter who is president, there are problems with personal finance. The newer legalized online Gambling trend in America has a lot of people bankrupt, too, among other things. In some states, people are losing their life savings by gambling it away with online apps. The addiction will push people with good jobs out of the housing market, even with inflation and other issues.
Thank you for speaking on this. Property taxes, insurance, and HOA fees are getting out of hand here in Kansas. People are unfortunately oblivious to what is going on.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like *Marisa Breton Dollard* who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you for this tip , I must say Marisa, appears to be quite knowledgeable. After coming across her webpage, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
You (Travis) mentioned the film "The Big Short" in your previous video. I've heard about the film, but finally watched it tonight. Everyone subscribed to your channel needs to watch it...asap.
It's was so eye-opening! A fucking brilliant movie I've seen multiple times. It really exposes you to how this crazy ass system works and is driven by pure greed. There is no logic other than greed. It's all fake.
We need to do something to kick the government. I can't believe the government still has our money, and we leave like slaves working all the time to be able to pay our bill. 😢😢😢
@@honeycordova7525 They see that some people who got qualified, could have lost their job during the loan process before theyre officially closed on the house. so many of the lenders doing last minute employment checks to make sure they still have the job
This biggest issue in America when it comes to homes is that Wall Street hedge funds own 40% of ALL residential homes in the country and climbing. They are working on creating an entire renters class.
Investors own 24% of all homes. 10% is from Wall Street and 14% is from mom-n-pop investors. That 40% is the percentage of homes purchased in 2022 or 2023.
Yes, they sure are creating an entire renter's class. Also, they are buying out home warranty companies and creating their own insurance companies, and their own maintenance crews. It's the perfect 'nest'! They own all the homes, rent or mortgage all their homes, sell service warranties from their own companies, charge HOA monthly for their own company to maintain the grounds and fix broken things. So when all is said and done they will have destroyed several small businesses to monopolize everything to do with housing. After they own it all they'll bitch and moan about high property taxes and the counties will listen to them and drop the property tax rates so they can all work 'together' and be happy, ugh!!
@@SomeUserNameBlahBlah Respectfully, that's not what I've arrived at. I started to write out a whole response, but I don't want to write a novel. IMO, Wall Street owns a lot more than we realize because this last PLANdemic wasn't the first part of their plan. 2008 was. This is wave two. They used recent events to buy up entire developments before they were ever on the market and intentionally paid cash over to drive prices out of reach for the average American. Most American's build wealth through home ownership. No home. Permanent financial slave with nothing to pass down.
Starting to see homes listed at prices that were bought within the past 1-3 years, at the same price. TN and NC. I think there are pretty nervous people out there. Winter is.....
There is only one way to stop any housing crash - PERMANENTLY CANCEL ALL PROPERTY TAXES. Otherwise, you're just bobbing up and down the market, spinning your wheels.
I sold in 2022 at the height. My place was paid off. Renting now saves me a lot of money every month. Plus I invested my equity in the market and made another 30 percent on top of that. I have now moved out of the market and am holding cash until next year. This housing downturn I think is going to be really bad. Some markets could go down 50%. In some areas people are already upside-down in their homes, almost 100K. They are one job loss away from being a foreclosure.
Boomer here. Own…Not selling but they are trying to break us with insurance. Homeowner insurance went from approximately 5,000 to 13,000 with 20,000 deductible, in a few years. Flood reasonable. Thankfully house value fixed at low amount for property taxes. Louisiana.
True. I am a boomer. Next door to us: boomer couple bought a new construction 2nd home, or maybe it is their third home. Just under 1600 sf for around $500,000.
@@nicholasscholten4838 I don't disparage anyone for spreading their prosperity for themselves, children, or grandchildren, but do think the transfer of wealth has propped up a growth class that did not arrive in a position to sustain it.
@@KayRay424 my parents had to sell for similar reasons. Extreme property taxes in NJ. Shame that people have become cash batteries for the town council to use and dispose of.
3 houses, 2 states. Technically just 2 contracts, 1st one we cancelled before accepted. Realtors are awful right now. 2nd house: realtor did not check zoning and got us in a house that didn't work for our needs. 2rd house: under contract for 2 months, bank appraiser flagged the basement, we had a bad deal. We walked and the seller threatened to sue. We said do it. We asked for a date when work would be started on basement repairs required by bank- this was a conventional loan. We ended up getting our earnest $ back. Walked away from the market. No realtor has had our interest in mind. Decided to wait until fall and see what fixers hit the market. Sellers and realtors are being ridiculous. The market isn't what it was 3 years ago, or even 1 year ago.
Not seeing it . We just put a property on the market and only took three days to get an offer. Prices in parts of Ohio in Columbus and suburban areas surrounding Columbus are competitive and robust. Where we live in North Central California average home prices 2 million and marc still seems to be chugging along.
Cincinnati and Columbus are always last to follow suit. There is a bike club in Cincinnati called the 10 year lates, because Mark Twain said Cincinnati is always 10 years late, on everything.
How do people on SS make things work - reverse mortgages maybe? It's a mess, it's all a mess. Personal prediction is that renting is the feature for more people. I'm not saying it's a reason to hurry and go and buy a house if it's not financially smart, just something I think might happen.
This doesn't apply here in TN. Bc all the rich people are moving here which jacks up the prices. So if looking for a reasonable price those too get jacked up thanks to these buyers with cash
Sellers may be on the sidelines but I bet the number is dwarfed by how many buyers are on the sidelines. I paid cash for my first house in 2011, REO from a desperate bank. Got it for 1/3 their asking price.
This is true. I bought a new construction so I had my pulse on the neighborhood while my home was being built for 8 months. It is not people voluntarily walking away, it is them being rejected by the lender. The only people buying are people with lots of money doing all the upgrades and then buying a luxury SUV right after they move in. The moment the builder realizes you have tons of cash and a high income, they roll out the carpet and incentives. Everyone else just falls off, the builders do not care about volume. Sad, but that is the reality.
1% of a 30,000 loan is a lot less than 1% of a $900,000 plus loan. This is why 6% interest is more painful. I remember thinking it was a great rate. Now I have my 3% on my 1st. No way am I giving that up. I'm paying extra, hoping to be done so I can retire at 70.
Arkansas is somewhat reasonable. try being in Memphis where 3 bed 1 bath homes built in the 50s that are a block or two over from some of the most gang-ridden streets in the whole country are $285K+.
@@LifeAfterDeathTube Ya things are tough everywhere Here we just have the Methbillies to deal with in rural areas They hate we have stand your ground laws now 🤣🤣 Prices here are kinda high on fixer uppers but no where near as bad as other places
Schools are not remotely broke. They’re the government. They’re inefficient and wasteful. My brother is a retired tech high school teacher. They got a budget each year. They bought stuff they didn’t need because if they spent less, the next year their budget would be less. Schools don’t have paying customers they have to please. If they want more money they just get a bond issue passed or, like now, property taxes just keep going up.
Any purchases now need to be in CASH, which is why smart first time buyers are giving MH communities a better look. NO Mortgage, NO HOA and LOW LOW LOW taxes, make homes like this in desirable areas like North Myrtle Beach, SC the SMART BUY IN 2024! There shouldn't be ONE home on Zillow in beach areas like this, priced at $125,000 or LESS, which last any more than a couple of weeks on the market!
We no longer have a mortgage, my husband is retired and wants to travel to Thailand. We don’t splurge, but inflation has hit hard, and I want to relocate while DCA-ing into his TTSA, which is less than $400k. I'm cautious with rising costs and have discouraged the idea due to current insecurities.
Also add that if you are buying a house the property tax in NJ will go up around 25%! Depending on the municipality. However, if you buy home you can afford DO SO. IN 10, 20 OR 30 YEARS YOU WILL GET YOUR MONEY BACK SO YOU CAN SELL IT AND RENT AT THE OLDER AGE. IF YOU RENT YOU WILL OWN NOTHING! INFLATION WONT ALLOW YOU TO RENT! BUY DEPENDING ON THE STATE OR IF YOU CAN RELOCATE AND WORK REMOTELY! Save for the down-payment. Do all the work around the house (mowing lawn, trimming bushes, painting, cleaning, power washing, whatever you can do!) Someone told me that i wont make money on my house which i paid off in 12 yrs and I updated it after paying it off. Well I enjoy it and even if i will get close to what I spent I wouldnt get a DIME if i rented all those years. I have a freedom to do whatever I want.
