SheWantTheD
Veteran
A real one uses both real estate the the stock markets.
This interview has motivated me to learn about real estate.
This interview has motivated me to learn about real estate.
Jay Morrison Debates with Vlad on Whether Real Estate is a Scam
- Thread starter Pyrexcup
- Start date
ComptonSwole
Pro
Jay is so underrated...
Him and Tariq should link up.
Real talk.
This is what vlad is talking about... if you bought Netflix 5 years ago with 180k you would have $2.8 million...
If you bought a index fund you would have 398k...
FYI, unless you bought your house cash you didn't pay 180k.. You are paying interest only so If your principle is still close to the original amount. If you were to sell it, you would probably break even... Which is why this is a scam..
This debate will never end because there isn't ONE answer. Everyone is different and everyone's situation will turn out different.
Some people succeed in real estate, some don't.
Successful people who rent will always say home ownership is overrated and successful homeowners will say renting is a waste of money.
Some people succeed in real estate, some don't.
Successful people who rent will always say home ownership is overrated and successful homeowners will say renting is a waste of money.
WheresWallace
Superstar
You've literally called every empowering black person a scam artist. People like you just want the young black kids who read this forum to stay in the dark about enlightening issues.
Also, remember when you were
for the cops who killed Mike Brown?Remember When Napolean aka 4d 6f 6e 65 79 Sh!tted On Black Folks For Supporting Mike Brown.?
Housing market is in a bubble too... He bought a house in 2008 at crash level for $180k that means the house was probably worth $340k in 2006... In 2017 the house is worth the same amount it was worth in 2006.. A crash will knock right back down to $180k or lower..
Real Estate... one of my favorite topics.
I have this discussion with clients all of the time. My personal and professional feelings on rent vs own is simple - owning property beats renting 10
Out of 10 times.
Like every investment known to man, real estate can be a risk. However, if done right there is absolutely no comparison to renting. Owning offers far greater benefits.
The best way to look at the debate is this - no matter which option you go with, rent or own, you are paying a mortgage. It just depends on whether you are paying your own mortgage or someone else's mortgage.
In my opinion I would rather pay my own mortgage than cover someone else's expense and let them get all of the benefits in the future.
I have this discussion with clients all of the time. My personal and professional feelings on rent vs own is simple - owning property beats renting 10
Out of 10 times.
Like every investment known to man, real estate can be a risk. However, if done right there is absolutely no comparison to renting. Owning offers far greater benefits.
The best way to look at the debate is this - no matter which option you go with, rent or own, you are paying a mortgage. It just depends on whether you are paying your own mortgage or someone else's mortgage.
In my opinion I would rather pay my own mortgage than cover someone else's expense and let them get all of the benefits in the future.
I was told from a real estate "friend" that the first home should be a duplex at least so one can rent the other to help with the mortgage.
real estate is a market, like anything else.
It isn't a scam it isn't a guaranteed way to success.
It depends on that market for real estate, potential for growth or greater valuation and etc.
It isn't a scam it isn't a guaranteed way to success.
It depends on that market for real estate, potential for growth or greater valuation and etc.
Everything depends on your age and income on to renting or buying in my opinion...
A lot of blacks have to rent do to income and high loans banks will throw at us and i understand
Vlad be talking from a standpoint of people who making Great money and can basically make move
Other dude talking about that family with $50,000 income
A lot of blacks have to rent do to income and high loans banks will throw at us and i understand
Vlad be talking from a standpoint of people who making Great money and can basically make move
Other dude talking about that family with $50,000 income
You are missing one very important point
In the scenario you posted you would have had to invest $180k cash in the stock market. Bigger return yes, but the risk is huge in comparison to the situation you were responding to. If that stock doesn't pop then you lose a hell of a lot of money.
Buying a house for $180k would require as little as 3.5% down ($6300). No where near the same risk.
It is also important to note that the vast majority of people do not pay off 30 year mortgages. That isn't what they are designed for.
Ultimately, real estate is a game you can play with the banks money where as stocks you need to be liquid
Larry Lambo
Superstar
Not even close.
If he paid $180K (via a mortgage, not out of pocket), even if the principal barely moved, he still gets the benefit of the increase in value from 180K to 340K.
Also, there are different things you can do to pay down your principal and reduce the interest you incur. I don't advise 30 year mortgages, and think everybody should be looking at 10-15 year mortgages, even if that means lowering expectations on what you can purchase.
I've owned my house for 8.5 years, and it's more than halfway paid off. The interest rate is low so I'm not necessarily doing too much to pay it off, but just putting in extra here and there.
I definitely agree that people are buying homes that they shouldn't. But if you play it fairly conservatively, home ownership can prove worthy in the long run.
666 ReVeNGe 666
TROLL IS LIFE
I agree.
And those lifetime costs
My friend just had to get a new door, ride on mower, fix the A.C. and much more.
I'm not in a rush at all to own a home.
Buying a house technically is a gamble just like Investing in the stock market. You are buying an asset based off of speculation that it will
raise in value. But it can also lose value as well. We are lucky to be in the US with rising home values, but no one knows where it will be in 30 years in whatever area you are buying a house in. Detroit for example was a booming housing market at one point. Now it is the walking dead. A lot can change in 30 years.
Even this rich fukk Martin Shkreli doesn't want to buy a house and still rents
If you are willing to take out a huge amount of debt in order to purchase an expensive asset in hopes that it continues raising in value, you are a brave person. That shyt scares me to be honest.
raise in value. But it can also lose value as well. We are lucky to be in the US with rising home values, but no one knows where it will be in 30 years in whatever area you are buying a house in. Detroit for example was a booming housing market at one point. Now it is the walking dead. A lot can change in 30 years.
Even this rich fukk Martin Shkreli doesn't want to buy a house and still rents
If you are willing to take out a huge amount of debt in order to purchase an expensive asset in hopes that it continues raising in value, you are a brave person. That shyt scares me to be honest.
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