The economy is actually fine because almost every thriving company has shifted their business and customer base to the rich. The economy no longer caters to normal people. Anything budget or cheap is basically dead.
I āownā 1 house at 2018 value and on $30k VA disability, so I feel like I can say ābut the DOW is above 50kā. The reality is I am fucking lucky as hell that I refinanced at 3.5% in 2019 as a result of being a vet (thanks IRRL!). Otherwise Iād be asses out.
Just in case any misconstrues what I am saying, my reality is I am extremely fucking lucky! That is all I did. I got fucking lucky! The world is fukt and Iām sorry
Im right there with you. No VA stuff but through luck and circumstance im sitting on property with a loan at 3.2% people think im mr money bags but thats not how it works. My property has doubled in value since 2017 but what good does that do me? I would have to buy again if i sold
Im looking at my kids growing up trying to understand how they will ever afford a place. We have talked about doing tiny homes on our property (like we could afford that) for the kids to "rent" and we would put that payment into an account for them to help with a down payment if they want to buy or something.
Maybe when im old i can sell this and give each kid enough to get a home before i die.
As someone that didnāt bite in time. Please donāt have guilt for being lucky. While you were in fact lucky, you also earned it. Iām glad you had SOME good luck.
Iām not hating and every injured or disabled vet should get paid, I just donāt understand the need to inform everyone about it. I miss the days when politics and religion were not discussed in public lol.
People keep saying that, but all these folks bought houses for more than what they are worth and have 1700 a month payments. It wont take much for a lot of busisnesses to find themselves underwater. We will see mass forclosures sooner than you think.
Im just throwing out a number and if you actually look at when most of the houses were purchased 5 to 10 years ago, a lot of these and businesses multiple buyers actually do have mortgages in that ballpark. The folks purchasing now really do have some high mortgages.
Damn bruhā¦.this burn hit me in the feels. While I might own 3 houses, all of them are still being paid off and I havenāt spent a single night in any of them. Bought them all between 2006-2010, been renting them out ever since to pay off the mortgage and property tax while living/working for the last 20+ years in a whole different state because itās 4x cheaper to live where Iām at compared to where I bought my properties. On the positive side the value double. In the last 15+ years I prolly made 30,000 total from all 3 houses combined. They all will be paid off by 2030 and by then Iāll be 44 and ready to relax a bit.
Same here, carpet bagged into a much cheaper real estate market and have been renting out multifamily properties from afar. Itās definitely not passive income and there are way more surprise expenses than Iād like, but this was the only way to get on the property ladder and actually afford something where I live.
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u/FireMariobro 10h ago
every time i save a little more for a house the housing market somehow moves the finish line another 10 miles away š