Money & Economics

Sybertiger said:
I don't think I could go from owning to renting with my mindset. But maybe with this housing bubble it'd be good move for some to cash in on their home while they can, rent awhile then circle back around and re-buy their home for $200K less in a few years.

www.foxbusiness.com

Is owning a home still the American dream? Why older Americans are choosing to rent

Pippa White, a 60-year-old renter, is living her own "renaissance" after ditching homeownership and finding a new American dream in Atlanta — as her building’s developer calls it “a big shift."
www.foxbusiness.com www.foxbusiness.com
Click to expand...

That’s essentially what we did. Though we were kinda faced with a dilemma due to Moms passing.

We sold the beautiful home with high expense and $2500 mortgage (plus taxes and insurance) and moved into the MUCH less expensive place we had bought for her. Like most, in parks you don’t own your land so we pay $500 p/mo for lot rent.

Now of the 200+ homes here honestly there are only 3 I’d live in, and we happen to have one.

But to the point , why go into retirement with a mortgage and sky high property taxes?

I’m much happier with that extra $500k earning me fixed 5% and not caring if we have Door Dash 5 nights a week or buy a new gun/camera without worrying about the budget, or buying a nice vacation for my daughter.

Unless you have a family homestead to protect, it’s just a place to live as long as it suits your needs. I don’t miss our old place anymore and I especially don’t miss cleaning the pool or taking care of the yard
 
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Wow, the market likes the rate cut probability...

Why? Because they needed SOMETHING to drive stocks up past their already nose bleed insane levels



082225.jpg
 
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I asked. The answer every time was:

Real estate, gold, commodities and possibly defensive stonks like Healthcare and Utilities
(Bitcoin if you’re into that)
 
bigredfish said:
I asked. The answer every time was:

Real estate, gold, commodities and possibly defensive stonks like Healthcare and Utilities
(Bitcoin if you’re into that)
Click to expand...

Real estate = bubble
Gold = maybe - need a crystal ball
Commodities - better be good at picking the right ones
Stocks - healthcare and utilities sound good
Food/Guns/Ammo/Booze/Coffee/Meds = YES, YES, YES but only if SHTF - need a crystal ball

Beats me - let's meet up in 20 years and talk about our hindsight LOL
 
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Bonds & Bullion Bid As Fed Chair Powell Delivers 'Dovish' Remarks From Jackson Hole​

Bonds & Bullion Bid As Fed Chair Powell Delivers 'Dovish' Remarks From Jackson Hole | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com


Powell just told you that "risks to employment [are] to the downside."

He is (correctly) telling you we are facing a stagflationary environment, and that's not from the Fed's doing. And it's damned hard to fix; almost impossible when we have a government/administration spending and printing inflationary dollars out their ass.
 
Sybertiger said:
Real estate = bubble
Gold = maybe - need a crystal ball
Commodities - better be good at picking the right ones
Stocks - healthcare and utilities sound good
Food/Guns/Ammo/Booze/Coffee/Meds = YES, YES, YES but only if SHTF - need a crystal ball

Beats me - let's meet up in 20 years and talk about our hindsight LOL
Click to expand...

Yes.

But when .gov lowers rates into inflation, and cranks up the printing press and your cash gets more devalued, hard assets are the only real choice
 
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Sybertiger said:
I don't think I could go from owning to renting with my mindset. But maybe with this housing bubble it'd be good move for some to cash in on their home while they can, rent awhile then circle back around and re-buy their home for $200K less in a few years.

www.foxbusiness.com

Is owning a home still the American dream? Why older Americans are choosing to rent

Pippa White, a 60-year-old renter, is living her own "renaissance" after ditching homeownership and finding a new American dream in Atlanta — as her building’s developer calls it “a big shift."
www.foxbusiness.com www.foxbusiness.com
Click to expand...
Maybe a good deal to do that...

So years back my daughter's first husband would say renting was cheaper and a better deal than owning a house.

Well sure enough he showed me the numbers on paper. Renting at that time was cheaper monthly than a mortgage payment. Theory was taking the difference plus the down payment of a house and invest it. Add the house repairs/upgrades expenses to that investing in that same period. I was surprised to see the numbers were close to equal, in the end if you bought a house, paid mortgage interest, upgraded flooring or counter tops, which almost everyone who buys a house does, all the other expenses that go with home ownership compared to all that money invested. We were using house rental.
 
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bigredfish said:
That’s essentially what we did. Though we were kinda faced with a dilemma due to Moms passing.

We sold the beautiful home with high expense and $2500 mortgage (plus taxes and insurance) and moved into the MUCH less expensive place we had bought for her. Like most, in parks you don’t own your land so we pay $500 p/mo for lot rent.

Now of the 200+ homes here honestly there are only 3 I’d live in, and we happen to have one.

But to the point , why go into retirement with a mortgage and sky high property taxes?

I’m much happier with that extra $500k earning me fixed 5% and not caring if we have Door Dash 5 nights a week or buy a new gun/camera without worrying about the budget, or buying a nice vacation for my daughter.

Unless you have a family homestead to protect, it’s just a place to live as long as it suits your needs. I don’t miss our old place anymore and I especially don’t miss cleaning the pool or taking care of the yard
Click to expand...
Smart...

My father had a park model and lived in a 55 and older park, Winter Texans, as they called the RVers, would come down and fill the place. He loved it there. Place had a nice pool, workout center, big pavilion for other activities. His park model was small enough to only pay $40 a year in property tax. He paid $200 a month for lot rent which included water/sewer, he only owed electricity and phone which phone he paid $25 a month Consumer Cellular :) He actually was able to live off his Social Security without taking money out of his savings.
 
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Exactly what we’re doing , living off SS and not touching the nest egg
 
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