4 reasons americans are losing interest in owning a home

[Rekkapryde]

But paying the mortgage is only half the battle. When you own a home you still have to pay for upkeep which can be a lot. It's currently a better decision to rent cuz in the current market mortgage + interest + years of upkeep = break even at best when you resell.

Def agree the current mortgage market (depending where you live) is worthless. But you can still capitilize if you pick the right spot.

Just because it's nice and cheap doesn't make it a good investment.

 

[h2o_proof]

I bought a home in a thriving and growing neighborhood in 2011 and it has grown in value each year since with biggest jump in this past year.

People need to know where it makes sense to buy a home. People are buying homes not understanding the current and future state of the market in the area they are looking at.

Truth. I bought my second home about a year ago knowing a new Exxon campus was being built in my area. No lie, over the last few weeks I've had two neighbors sell their homes for 50-75k higher than their value. Good thing about living in Texas is that out of towners don't mind overpaying for a quality home because it's still cheaper than what they would have paid on the east or west coast.

I purposely bought the cheapest home in a thriving, master planned community neighborhood.

 

[TLR Is Mental Poison]

Yall don't realize how bad condo prices in Florida are though. I bought in early 07.

Its only an L once you cash out

There are other ways to make money off of it besides selling (unless your condo board won't allow renting... in which case )

 

[L&HH]

Truth. I bought my second home about a year ago knowing a new Exxon campus was being built in my area. No lie, over the last few weeks I've had two neighbors sell their homes for 50-75k higher than their value. Good thing about living in Texas is that out of towners don't mind overpaying for a quality home because it's still cheaper than what they would have paid on the east or west coast.

I purposely bought the cheapest home in a thriving, master planned community neighborhood.

When's the Exxon going to be finished being built?

 

[h2o_proof]

When's the Exxon going to be finished being built?

2015. 10,000 employee's but only 1500 of those are new jobs. We've had inquiries from people from Virginia interested in buying our home willing to pay damn near double what we paid, but I'm not trying to move. My home's value will continue to increase over the next 5-10years or longer, but we'll see what's up.

http://www.houstonchronicle.com/business/real-estate/article/The-Exxon-Mobil-effect-5197565.php#/0

 

[L&HH]

2015. 10,000 employee's but only 1500 of those are new jobs. We've had inquiries from people from Virginia interested in buying our home willing to pay damn near double what we paid, but I'm not trying to move. My home's value will continue to increase over the next 5-10years or longer, but we'll see what's up.

http://www.houstonchronicle.com/business/real-estate/article/The-Exxon-Mobil-effect-5197565.php#/0

That's what's up. Time to start researching real estate in developing areas. In a sense this sort of makes sense. This is the best time for companies to build on new land b/c land can be had for much cheaper.

How far of a radius from the campus do you think housing markets will go up?

 

[Atlrocafella]

Like I said, as a young professional who's had to live in 3 different states the past 3 years, renting was the best option for me, and I wouldn't be where I am in my career and making the $$ I make if I couldn't leave due to not being able to sell my house or finding someone to rent it from me.

My parents also own the house I grew up in, and it will be left to me and my sisters, so I will always have a residence in Atlanta, Georgia

 

[h2o_proof]

That's what's up. Time to start researching real estate in developing areas. In a sense this sort of makes sense. This is the best time for companies to build on new land b/c land can be had for much cheaper.

How far of a radius from the campus do you think housing markets will go up?

Hard to say, because people will look upwards of 10-20 miles north and and northwest but not so much south, mainly because of school districts.

 

[Momentum]

I like the flexibility of being able to move when I want to, not having to tie myself down to one area, and also homes are a speculative asset because the housing market isn't stable anymore.

With that said, I'm still a fan of buying any asset if you can get it dirt cheap.

 

[bnm8907]

The more I've been reading the less and less I think owning your own home as great invest.

1. Your not guaranteed the value of the house and property go up.
2. You have maintain it yourself
3. Your house really isn't that liquid. I mean at certain point people buy there and are going to live there damn near till they die. I mean its not like one day your going to say I got good value from this house let me cash out. Most people only have one home, the one they live and grow their kids in.

Now I'm saying its a bad Idea but, its just not such a no brainer anymore.

 

[jaydolf spitler]

Like I said, as a young professional who's had to live in 3 different states the past 3 years, renting was the best option for me, and I wouldn't be where I am in my career and making the $$ I make if I couldn't leave due to not being able to sell my house or finding someone to rent it from me.

My parents also own the house I grew up in, and it will be left to me and my sisters, so I will always have a residence in Atlanta, Georgia

yep, i've been moving for jobs and interviewing for jobs in too many different areas to be tied down. Renting has been best for me too. I don't keep a lot of possessions and just pack up a suitcase and dip whenever i need to

 

[bigrice25]

It makes more sense to buy, especially if you have a family. When me and my wife were looking, we found that renting would be more expensive then buying. You just have to do your research and be patient....

 

[Street Knowledge]

What percentage of people eventually pay off their 30 year mortgage and own their home?

 

[Hiphoplives4eva]

I bought a home in a thriving and growing neighborhood in 2011 and it has grown in value each year since with biggest jump in this past year.

People need to know where it makes sense to buy a home. People are buying homes not understanding the current and future state of the market in the area they are looking at.

I see you live in Houston too huh? You need to holla at me.

 

[Hiphoplives4eva]

Yall don't realize how bad condo prices in Florida are though. I bought in early 07.

Damn you must be DEEP underwater breh. Very unfortunate. Luckily Texas's housing market didn't get hit like you folk out in Florida.