We sold our house 6 weeks ago or so ago (significant cash out) and moved across the country, and we decided to rent for a bit and gamble that the market would collapse more. But we hate renting and we are already capitulating and putting an offer on a house we found and love. Even with our cash the mortgage will be about the same as before, due to the interest rates. So now we will be gambling that the interest rates will not continue up for long, and that they will decrease below their current level within a couple years. It feels wrong from an investment perspective, but it feels right from a life decision perspective, and it feels right from a security perspective (owning a place we can secure, and where we can grow a garden, etc.), and in the event of a currency crisis it would be bad to be super long cash. Side note: we don't have kids or pets, so it's just my wife and me; and we both have family nearby.
What would you do? And why?
Only if it's rural and to become self-sufficient. Right now, housing prices are going to dip, and locking in to a long contract may be punishing. Also, if we hit a deep recession, be sure first you have job security.
We are looking at a semi-rural, decent sized lot but less than an acre.
You can do a lot with a small lot. I've seen people's semirural gardens where they grew a lot ranging from corn and beans and salad staples to some melons. They definitely had bees. They had no chickens though and you may want chickens but will need space for that. Nice to have fruit and nuts too.
Yeah if we end up buying the one we are interested in, they don't specifically say you can't have farm animals, but they say you can't have anything that is a nuisance, so my guess is that any more than a few chickens or maybe a couple goats would probably be a nonstarter, but maybe that would be enough.
A few chickens can be plenty, and one could always raise rabbits for meat.
"can't have anything that is a nuisance"; well that eliminates having Chuck Schumer in a barn, doesn't it.
😂 @ schumer
Oh and good idea; rabbits don't have a lot of fat, but they're a great protein source.
I've had Hasenpfeffer, rabbit stew, and it can be good. You wouldn't eat it every night but on a rotation it would be desirable variation.
AVOID HOAs. I cannot stress enough the sheer idiocy that HOAs can be. I found my home a little over 5 years ago. Not really aware of what an HOA was, outside of a search online, I decided at the time to blindly accept their non negotiable offer. Sign here, agree to things and also agree to pay a nominal $75 yr. for the common area maintenance.
Fuck All Anons.... That small yearly fee has crept up every year without fail. The board has changed hands four times in five years. Money mismanagement along with over reaching rules, I'm fully convinced that HOAs are created by liberals who only want to push their own wants onto everyone else. Whether I'm not allowed to have a garden without their permission, no chickens, cannot have a fire pit, must cut lawn before they decide it's too long it your getting fined, cannot leave garbage cans in Street more than 12 hours before or after pickup, must put cans in garage and not outside, to changing rules mid stream to suit their own machinations.
The kicker..... There's about 140 homes in this HOA. About 130 of those homes are normal people who just don't give a fuck and don't attend the stupid meetings etc. Guess what?? The 10 that do show up all vote, and since their the majority of those who showed up then they can arbitrarily make new rules....
Seriously, AVOID THE HOA AT ALL COSTS. Even as in my case, if you found that perfect home, in your price range and your all giddy.. the HOA will absolutely shit all over you and force their ideals onto you, if you decide to fight back good luck. The fuckheads that run them are all wanna be mayors and sheriff's, they will be Petty and act like the Gestapo.
Sorry for the rant... Go ahead and buy a home. Just avoid agreeing to open terms with an HOA. You will always always lose. Unless your one of those people, in which case your not reading this here anyways.
Carry On!!!!
Thanks man. This has been weighing on us also. We came from an HOA and we swore we would never get into another one because it was exactly the nightmare that you're describing, we spent thousands of dollars getting a front door that we liked and then the HOA tried to get us to fucking change it because it didn't match the original guidelines, even though everybody loved it and it matched the neighborhood perfectly, bunch of fucking liberal weasels sneaking around behind our backs trying to Wreck us. We thought back and won, but it put a really bad taste in her mouth. The problem is, sometimes the trade-off is worth it. Even though it was a fucking nightmare dealing with those assholes, the neighborhood was great and the green spaces were great and there was a lot of good things about it. It's really tough trying to figure out what to do. The HOA that we are looking at now is very cheap, just like how you were started, whereas ours where we left was seven times more expensive per month.
BTW, I just calculated, the HOA where we were for five years went up over 25% in that five years, and when we got there it included cable Internet and TV, and when we left it did not.
I'd buy a house if I could and go absolutely crazy on it trying to be as self sufficient as possible - garden, storing food and water, chickens at the least, all of it. Make sure it's got some land, at least a 1/4 acre and learn how to make the most of it. There's people out there who can tell you how to grow all your food on at least a 1/4 acre. If the WEF wants us to own nothing and be happy, at least own it and be happy for awhile. They want to take everything from us, and they can take anything from us at any moment, but at least you have more control of your situation when you own your own place and don't have to rely on others much if you work towards that and be smart about it. Edited to add that security would be a huge thing safety wise and food prep wise. don't forget water and don't forget power.
You don't. What is owning your own places today mean? Rent. More services causing it. All those utilities. Did you finally buy your own place or get the mortgage, hahaha, look at those increasing rates, hahaha. Rent. Even if you own your place. More rent. All those services like electricity. Water. Your damn TV. Buying more services. Then they just take your kids away. Get them buying more rents. Self sufficient. Hahaha. Chickens hahaha. You got the birds flu. Now they take your land away. Hahaha. You must be properly rented, vaccinated. Sure get your scouts badge, self sufficient, how much more rent are you paying for it.
You own less than gypsies. Own much less land than the state, collecting all the rents. Less than the foreign corps they're paying the rent too, making the prices higher. Less than any sheep grazing. Less than the parks full of tourists.
Seriously home ownership is at a historical low. Half or less than half the population own homes. They don't manufacturer anything else. Except the rent. Who invented the condo. People forcing rent. They're only making more condos today. Got get more rent from everybody else they sell the nation too. It drives rent, I meant inflation. It is subject to the bank's terms and conditions, increasing rates, off all the debt and all the taxes collected, and another Corp offering even more rented services.
Self sufficient is an alternate reality, one you don't own either.
In answer to the topic, the bubble is due. Cost of living. It is traditionally tackled by more home ownership. Except those rates have superseded it. Bubble. Home ownership traditionally needs manufacturing sectors.
Thanks man, that's our thinking also, pertaining owning making it a lot easier to set up your security/self-sufficiency situation, I feel like if we are renting from somebody else and shit really hits the fan we're just gonna be kicked out and fucked.
Buy land with the cash, get your well, septic and electric, then live in a 5th wheel while you build or secure your house. There are really nice prefabs out there or if it's just the 2 of you, might go with something like Lancaster Log Cabins park model (my dream house if I didn't have a huge family). This way you avoid high interest rates and going into debt slavery to the (((banks))).
We talked about doing that as well. I don't think we'd do well in an RV. Half of our issue is that we've become spoiled :/
It has it's downsides, but you can spruce it up to be more homey, like putting a carport awning or pole barn over it, making a deck and outdoor kitchen, patio furniture. But I realize that's not everyone's cup of tea. I suspect they are just going to keep raising interest rates to "curb" inflation. What if the interest rates goes to the double digits?
Another option is looking specifically for property where the owner is willing to finance, you could negotiate a better rate. People who outright own their homes and don't want the tax burden are more likely to owner finance.
That's a great idea actually (people who are willing to finance). We got excited about one option we thought was that, but then we found out after the fact it was actually just a temporary ate buydown they were gonna pay for (aka nonsense).
Mortgage rates are the highest in history and the US dollar is about to collapse. Great time to buy, boyo. Way to do your research.
To keep it, you’ll have to shoot people. Can you do that?
life decision outweighs investment and fake currency imo, assuming you're not getting into a bad deal with the mortgage j that you can't keep up with. is breaking even but having made the right life choices not a good enough outcome? only the greedy j would think otherwise.
real questions would be, do you believe you will have enough fake fiat currency in the next few years to pay the fake mortgage. if rates drop, great you've saved, if they don't, you still get to live in the house. if the house becomes worth less than the note, but you're not planning to sell, and you can afford the monthly, why lose sleep about losing fake fiat imaginary gainz.
also look at rates back in the 70s-90s and historically to get some perspective.
the real value of a house is what you're getting out of it.
also noticed some of these kit house companies. you can buy a piece of land, then have kit home delivered to the property. if you don't have time or know-how, hire a crew to assemble it. may be cheaper than the cardboard box mcmansions with prices tags 10x the materials, land, and labor. make sure no hoa j will thwart your gardening and security plans etc.
I have silver, but I wish I would have bought so much more before the premium went up so high. I'm fixing to potentially get an /SI contract though, if I'm lucky enough to get one last rooster tail down.
However, read The Last President (Ingersol Lockwood) when you get a chance. In the end, silver goes sky high, and then collapses, and then gold soars. I'm certain those books by him are more than just some meaningless novels.
No I just mean the premium; the difference between the spot price and the coins. For example, the spot price is like 19 bucks or so, but it costs about $37 to get a silver eagle. Just a few years ago if the spot price was $19 a silver eagle would've costed $23.
Check out George Gammon's new video about the answer. https://odysee.com/@GeorgeGammon:9/3-reasons-home-prices-will-fall-by-50:f
I woke up at 5am ish and clicked this video and watched it, and it helped to solidify my fears about the boomer retirement / die-off spiral, and is also adding to the "wait it out" side of the scale. Thanks for the link. I'm gonna check out more of his videos today.
George is not always right and he plays up the doom factor but he does explain a lot and he also has his Rebel Capitalist show. A true libertarian who believes in free market capitalisn. His white board videos like this one are real value.
Yeah it was a pretty good video; easy format to share with people who don't know a lot about the financial system also.
Thanks man. Ugh, this sucks. We want to buy so bad, and prices came down some here, but it's not a cheap house. From an investment standpoint, this would need to be long term (10 years). But as much as my instinct tells me the market is heading lower, I also know that the real course of events always surprises everyone. People like Michael Burry and Peter Schiff are talking about how it's gonna crash big. Whenever the people who predicted X last time start predicting X this time, and everyone starts believing it, it never ends up happening.
Then... the elephant in the room, the 7% interest rates. The same monthly mortgage costs somebody +35% more than it did last year, and I feel like that just has to be reflected in the prices, but, like you said, houses are not liquid, so there's stickiness... it might take 2-3 years.
Part of it is impatience, for sure. Part of it is us being afraid that we are going to wait and then the market is not actually going to crash, since everybody seems to think it is going to, just like in 2015. And then part of it is us being afraid that we are going to be in a rental with no good ability to produce food when SHTF (not to mention a lot of our food and other survival gear is in storage, which, depending on the kind of SHTF, could be inaccessible).
[now going back to pulling my hair out]
Yeah, some places have gone dry already.
Have you looked into property tax auctions? They have gems on their lists. Check with your local sheriff's office.
Don't know your location, but look into straight land sales.
I know in Arkansas, in some locales one can get land for as little as 3K an acre.
Thanks man, that's a good idea, even on top of whatever we buy; I haven't looked into those auctions in ages. BTW, I wish our families were in OK or AR... that whole area has some of the best deals on land imaginable.
If you got significant cash out of the old house, you should not have needed to borrow a significant amount of money.
Jews from Blackrock send me mail and call every week trying to make fiat federal reserve note Jew Bucks offers on my property.
I tell them I only accept gold bullion, not their jew fiat toilet paper, and I don't do business with anti-Christs and that I hope Russia kills Zelensky and his jew henchmen..
Even then, they don't hang up and still persist to try to buy my property. Fuckin' relentless greedy jews.
that's another thing that makes me think that it's a good idea to buy now, the fact that BlackRock was buying up houses at the top of the market last year; those guys are not idiots.
I'm not modeling my plans after Blackrock. I'm stating that, if Blackrock is buying tens of thousands of houses at the "top" of the market, then I am a fool to assume they are just idiots making an obvious strategic mistake, and that we can cleverly wait for a huge discount that they were too stupid to wait for.
What I'm afraid of is that we are already at the "blood in the streets" part of this short downturn and the Fed is going to pivot and, by attempting to time the market, we are going to turn our personal home purchase into a failed, years-long waiting game, all the while blowing our money on rent instead of interest.
Everybody is expecting the real estate market to do what it did in 2008 to 2011. Maybe it will. But look at house prices in the 70s and 80s when the interest rates skyrocketed. The housing market went sideways for over a decade. We are not gonna wait for a decade.
What were their alternatives? They were divesting from stock market and moving to real estate.
Also, it's not a fair game. They have access to billions of dollars of free capital investment money. They pay practically zero percent interest to borrow money and invest it. Jews hijack state pension funds and rob all pensioners utilizing their investment as capital.
Jews buy up everything with FAKE money. People think they are rich and own all this shit because they are so smart. Nope. They just print fake money and launder it all to their jew friends who use it to buy up everything of any value, including talent, musicians, and other people's work.
My point is just that they put so many billions of dollars into real estate right at what we perceived as being the top of the market, which tells me that they don't see that as the top of the market, or else they are just dumb, but I don't think it's the latter. If you look back at the 70s when the interest rates skyrocketed, the housing prices didn't crash. They just kind of went sideways and bounced around for a decade or so.
80% of all fiat USD in existence was printed in the last 2.5 years. I posted this on TheDonald before the jew loving faggots there banned me. https://communities.win/c/TheDonald/p/15HuxiUBKy/joe-biden-inflation--80-of-all-m/c
Jews who printed it laundered it to other jews to buy everything up. Jews are running out of shit to buy. They bought up all the corporations already.
Next is your land and home, at any price. Price doesn't matter because they print the money.
You will own nothing when they've printed enough fiat fake money to buy everything.
Your land and home has real value. Their fiat printed paper is worthless unless they can fool you into placing value in it.
Capital gains or not
No capital gains (under the couple threshold and 5 years living there).
I chose no. Then the family fell apart and the cat got pregnant