Where is the recession? Show me ?
- Thread starter HedgefundTrader2
- Start date
Quote from nyxtrader:
Are you calling me that? I was just stating that would have been a great trade. Of course, IF i would have bought it, I probably would have sold when I doubled my money, LOL. One of those fortunes that slipped right through my fingers.
Haha...no you are not a dunce...HT is the dunce...always has been and always will be...
Just do some research on real estate prices over 60 years?
Do try to convince yourself real estate is a millstone stone around your neck and stay poor for life.
The average networth of a US homeowner is $184,000 and a renter $4950. The renter is loaded with shiny cars and nice SUVs owned by the bank drowning in debt.
Now is the great time to buy real estate.
The debate was about your home appreciating from $60.000 purchase price in 1988 to something like $600,000 now in 2008. So you tell me to do research for the last 60 years. We are talking about a 20 year ownership by you, not 60 years. The level of appreciation of your home is unusaul, but not impossible. But very rare for 20 years. Maybe in California hot spot? Only you know that hedgefund2. Did you add on multilayers to your original home purchase over the years and turn it into a bigger asset by putting money into it? Only you know that hedgefund2. But I do agree buying a home is a great investment of money for security of a place to live, and they appreciate over time.
Ridiculous. Losers talk..
I cannot give you locations. I am very creative with real estate thatâs all I can.
Average home prices double in 10 years. When the up cycle comes they double and triple and quadruple in 2 years. The action is fast and furious since pent up demand (since people haven't bought anything) is huge and properties get bidded up to the moon. There is nothing like it seeing you hit jackpots all over.
Can an average person do it? Yes. Its not rocket science. Its very simple.
I don't think home prices will be doubling or quadrupling for quite some time. Maybe when the NASDAQ hits 7k. Sounds like you're romanticizing over a past bubble with an antiquated notion of how the housing market works.
It sounds like you were in the right place at the right time when you were on the receiving end of realestate boom. It was a sellers market because home prices were apppreciated at ridiculous speed at same time money became cheap and easy to get. You made your deals, collected your commission, and then not responsible for the aftermath which we are seeing now of those big homes in foreclosures due to default. Yes it was jackpot time for sellers. But banks knew exactly waht they were doing when they made money cheap too. They wanted a peice of the pie and they too took the money and passed the ball by creating all those easy money loans...then selling them and getting them off their books. I don't see that kind of jackpot again becasue of the mess it put the economy in. Yes, money to be made in realestate again when demand picks up, but not in such a gluttonous way. Rules have changed. No easy money. No more biting off more than you can chew.
And what about once you factor in other things like property taxes, any interest payments, and maintenance expenses assoicated iwth the asset?
Then your net gain is more like 350 i'd wager, which is ~9% gain a year. Not a bad gain by any stretch,but more than doable elsewheres.