Anybody own a house?

I own my own house. I was lucky enough to buy in the last property downturn in the 1980's. Never had a mortgage.
Looking back my house was dirt cheap.

(Property in Australia at the moment is way overvalued. It doesn't stop people falling over themselves getting 35 year mortgages for houses in the suburbs with price tags of nearly a million dollars..Crazy!)



I am married and have four kids.



The stereotyped image of a trader does not apply to me or any other traders or short term investors I know.
 
I own my home. No landlord would allow me to dig a three-acre bass pond in the backyard, within casting distance of my home office.

If they did, I sure as hell ain't gonna make such a long-term capital improvement on land I don't own.
 
Like Delmar said in Oh Brother Where Art Thou, "A Man ain't no kind of man unless he owns land". How true that is, my best investments have been real estate especially my home.

Rennick
 
Quote from austinp:

I own my home. No landlord would allow me to dig a three-acre bass pond in the backyard, within casting distance of my home office.

If they did, I sure as hell ain't gonna make such a long-term capital improvement on land I don't own.
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bingo.....
 
Quote from William Rennick:

Like Delmar said in Oh Brother Where Art Thou, "A Man ain't no kind of man unless he owns land". How true that is, my best investments have been real estate especially my home.

Rennick
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Long term, in the U.S., there is absolutely no better deal going than owning your own home.

Those on this thread who have calculated renting vs. owning have all ignored two of the most valuable features of owning:

1. Leverage. Put 10% down, your home appreciates 10%, and you've just made a 100% gain on your funds. Try that with an apartment. Repeat that for a few decades and you'll understand why folks now in their 50s and 60s are sitting on a million in equity from simply buying wisely and continuing to trade up.
Worried about the real estate market 'collapsing'? Forget it. A single family home, well bought and cared for, will always make money.

2. Currently investment gains on your primary residence up to 500K for a married couple are TAX FREE. I have gains of over 400K in 18 months, and I pay not a dime in taxes when I sell.

Anyone...and I mean anyone...should buy a home as soon as they possibly can, and buy the biggest home they can with the greatest potential for appreciation.
 
Quote from lindq:

Long term, in the U.S., there is absolutely no better deal going than owning your own home.

Those on this thread who have calculated renting vs. owning have all ignored two of the most valuable features of owning:

1. Leverage. Put 10% down, your home appreciates 10%, and you've just make a 100% gain on your funds. Try that with an apartment. Repeat that for a few decades and you'll understand why folks now in their 50s and 60s are sitting on a million in equity from simply buying wisely and continuing to trade up.
Worried about the real estate market 'collapsing'? Forget it. A single family home, well bought and cared for, will always make money.

2. Currently investment gains on your primary residence up to 500K for a married couple are TAX FREE. I have gains of over 400K in 18 months, and I pay not a dime in taxes when I sell.

Anyone...and I mean anyone...should buy a home as soon as they possibly can, and buy the biggest home they can with the greatest potential for appreciation.
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well said, lindq. nice work!

surf
 
Quote from EqtTrdr:

does everyone not realize that real estate can and does go down?:confused:
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I do that is why I made sure to get a good price 3 years ago. Our realtor showed us the days on market for our house. Now that is useful info. :)
 
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