Such a surprise: As reported by NBC news today, real estate is a sellers' market as sales soar by 21 percent and renters worry they will be left behind. Factored in: high demand and tight supply, with home prices rising during the virus lockdown.
Well, someone isn't worried because they have "my guy" looking out for him, advising him to now buy a used RV to live in and a derelict building with defunct bakery.
Meanwhile, some of us have seen 40% increase in our home value.
Lalalala
I'm confused. You were on my case when I was renting and now you are on my case about being a landlord. We know you are a liar for claiming you saw me playing at a casino I wasn't in, but at least try to be consistent.
Meanwhile, you continue to live in a crack infested neighborhood where residents have a one in thirty two chance of being the victim of a violent crime. Great place to raise your family.
What good is a 40% increase in home value unless 1) you sell and move to another market or 2) are looking to get a loan on the equity 3) need to refinance to get out of a tough loan? There have been big increases here as well but the only thing we get out of it are much higher property taxes. I don't feel any better living in a $600,000 house than a $400,000 house when it's the same house. If I were ready to die and pass it on to the kids I might feel differently, but I'm hoping that is a long way down the road and the market will go through several new cycles before then.
I don't see any reason to brag about real estate gains unless it's an investment home and not your primary residence. All it means to me is the same life has gotten quite a bit more expensive. So expensive that it's becoming hard for a lot of people to even get started with a home.
what good is it if one's stock funds go up, unless one is willingly to sell out. funds are required to pay out distributions, which are typically reinvested in the funds and not realized. those distributions are then taxed by the government. this happens with most non qualified investments.
not every area of the country has such outlandish property taxes. as a result of some of those ever increasing property taxes and recent crime events, many are taking advantage of those housing gains and moving to lower tax locations.
check out the latest population flows from NY/NJ to most anyplace else, mostly florida, texas, tenn, carolinas.
but, here is what happens. folks flee the high tax states, move to lower tax locations and then many, request more services, in their new location. northerners do this all the time. the don't seem to recognize the direct link between government services and amount of taxes required.
someone needs to catch up on the news. border crossings are down more than 50% from last year. this is likely due to mexico's assistance with stopping caravans, trump's get tough border approach and wall repair/building, chineese virus and resulting weaker economy.
destroying federal property is a crime. that is to everyone, other than liberals. dems only believe in laws, when it suits them. doesn't work that way. deface/burn/destroy tax payer funded property....go to jail!
North Las Vegas 8903?
From Zillow- Average home increase is 2.5% from a year ago, below the rate of inflation.
School system- grade schools average a 2 out of ten, middle schools 3/10, High school 2/10, drop out rate of 30%.
From Crime Stats- A resident of North Las Vegas has a one in one-hundred and three chance of being murdered or raped this year.
Sounds like a great place to raise a family.
By the way- every house listed on the first page of Zillow is either in foreclosure or pre-foreclosure.
Quite the booming real estate market.
The difference between a paper gain of $200,000 in stocks and $200,000 in real estate value is one can sell some stock and take the profits. Your real estate gain isn't realized until you sell your house, unless you use your residence as an ATM.
Another difference is stocks pay dividends. $300,000 in ATT will pay you $20,000 in dividends. $300,000 in an investment house in Las Vegas will bring in about $20,000 in rental income, $300,000 in a house you live in gets you a roof over your head.
It all depends on your priorities. We know people who went the home ownership route, paid off their house in twenty years and are happy. We know others who took the same down payment and turned it into a mini-empire and are happy. We know people who rented their whole lives and are happy.
We all know people who did all these things and are miserable.
I didn't give any advice. I showed the income $300,000 invested three ways would bring you.
I do what I do, and it works very well for me. Hopefully,you've done something that works well for you.
Capital gains doesn't matter until you cash it in. Owning a house that increases in value only matters when you sell, but then you have to find another place to live.
Dividends can be guaranteed, but perhaps you aren't familiar with that.
It is pretty bizarre that you tried to attack me when I rented an apartment in a city I had no plans on staying in for a few years, and now you attack me for being a landlord.
How broken are you?
educate me, which publicly traded companies, pay a guaranteed dividend?
millions (including myself) pay capital gains taxes on stock holdings, without ever actually realizing any gains. i have been paying these taxes for more than 3 decades. this does not occur with a home and then the first $500k may be tax free.
i am not attacking anyone, just attacking inaccurate/partial/misleading information. i/m/o, the best financial strategy is diversity. but, that doesn't mean there aren't many ways to achieve financial success or ruin. i have witnessed both achievements.
you continually advertise your many forays into business and financial ventures. and, you do it with such conviction, with no evidence of out performance. i don't recall any poster asking for your advice, but you keep giving it. are you trying to convince yourself?
Continue with Google