Home values drop for the first time in seven years

[Cynic]

dope :jaymelo:

did you buy that spot you were talking about ?

 

[the cac mamba]

did you buy that spot you were talking about ?

nah, the fukkin lady decided she didnt wanna sell it at all

 

[hayesc0]

Like I said in that other thread, this plus that coming recession, it's a wrap! I'm getting all my stuff together now!

This

 

[Ya' Cousin Cleon]

question property owner/real estate brehs

how real is the probability of people losing their homes during this period/uncertainty. ?

 

[saturn7]

I wish they would stop with this "the economy is booming" bullshyt.

Wages have not gone up with the cost of living.

This economy is great, if you already have money.

 

[Cynic]

question property owner/real estate brehs

how real is the probability of people losing their homes during this period/uncertainty. ?

Look at the recent tech IPOs (Uber/Lyft/Pinterest) ... retail investment is lukewarm EVEN with access to cheap capital

When the Fed raises interest rates and the corporate debt bubble pops... It will be a bloodbath

Trump gonna have to start another illegal war to divert the blowback

 

[Ezekiel 25:17]

Millennials ain't with that slave mentality. Staying at 1 job for 30 years, staying in the same house for 30 years. We trying to live stress free.

i'm so glad i bought 2 homes in orlando during the 09-11 good times. one to live in and one to rent. the rental home is paid off, but i have a mortgage on the house i live in. rent in this market has climbed so rapidly (from around 800 for a 2br apt in 2011 to 1280 today) that what i'm renting out the house for easily covers my housing expenses (mortgage, insurance on both places, maintenance, etc).

Living rent free on that passive income

What's your advice on owning 2 homes? My 1st house I'm thinking a 15 year mortgage. How would I acquire the next? Just save? I wouldn't want 2 mortgages though

 

[hashmander]

Millennials ain't with that slave mentality. Staying at 1 job for 30 years, staying in the same house for 30 years. We trying to live stress free.




Living rent free on that passive income

What's your advice on owning 2 homes? My 1st house I'm thinking a 15 year mortgage. How would I acquire the next? Just save? I wouldn't want 2 mortgages though

even though i can afford a 15 year mortgage, i have a 30 yr and i match the mortgage amount in additional principle. my dad always use to tell me that you never know what life throws at you and circumstances can change so don't be on the hook for a higher mortgage payment and then you're struggling if you lose income, etc. so even with the 30yr on the house i live in, my amortized table shows me on schedule to pay it off in another 6 years. so while at this rate i will have paid it off in 15 years, i'm not required too and if i decided to stop paying additional principle no one is asking me any questions. it requires discipline to pay more than required though, but the motivation is getting rid of that mortgage faster.

my first purchase was actually a condo and i sold and used that money as a big down payment on the house i live in.

i bought the rental cash and fixed it up myself. the cash was actually via credit cards ... did some credit card arbitrage and churned the cards every 15 months (that's when the 0% interest would typically expire, shyt one citi card was like 21 mos) about five times so it was paid off in about 6 1/2 years. that's why i keep my credit pristine because it can be a wonderful thing if you know what you're doing. now that i think about it, the only interest i pay is on my mortgage and that's like 3.8%.