Has anyone else paid attention to Housing prices? Wow

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barbee6043 said:
I agree. I sold property in Mo. 2 yrs ago and I have not the guts to put it in any investment at age 73. So it sits.
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I don’t know why you haven’t, I made 15% in the market last year just by investing in conservative funds.
 
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Ddaddy said:
If you are selling, don’t you want to get the most you can too?

I sure as hell do!

I’m not a charity, I want to get what it is worth...every penny.
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If you have a fair offer to make, make it. My asking price doesn’t preclude that. It’s how it works.
 
iv'e been in the housing industry since 1971 and iv'e yet to see it not fall after a several year surge. right now, at least down here, the material price surge is adding about $30,000 to the price of the house. but, the mortgage rate down here is about 2% for a 30 year note. as long as the rates stay down there will be a market. when the rates start going up, and they will, there will be a big surge to get locked in and then it will fall off. and then the prices will begin to come down. in 50 years of this stuff, iv'e never seen it fail to happen. whats going to hurt is when gas gets back up to 4 or 5 bucks a gallon and food, taxes, energy and every thing else goes sky high. these people with the big mortgages are going be hurting. this nation has one foot in the financial grave already, and it wont take much to shove it over the edge. that's not a political statement, it's just a fact.
 
It is concerning. I have multiple properties. And I get nervous when prices spike. Yea, it looks good on paper. But I'm not in a position to sell. But I'm also looking to buy too? I think the market is running a head of the actual economy. I truly hope we are coming out of the pandemic recession. But now is not the time to spike the football? We are in the red zone. Not the ends zone. JMO.
 
Rates have already started to creep up around here.
 
greymouser7 said:
I am not sure if the subject correlates to the home prices, but due to the economy and the potential for downturn, Bill Gates dumped so much money into farm land that he is now the largest owner of farm land. That seems to me to indicate the direction of home & land prices are the safe bet right now for those with wealth.

Do you guys think that property taxes will go increase in response?
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Yes that reinforced his brilliance as food is a necessary addictive substance
 
Ddaddy said:
I don’t know why you haven’t, I made 15% in the market last year just by investing in conservative funds.
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At age 73 I guess I like actually knowing I have some cash and not putting my $ and faith in Wall Street. I did no load mutual funds back when I was in my 40's and gave all that to the X just to not have her in my life! I know inflation will eat away at the value of this cash. I keep thinking my wife will one day want to retire and we sell this place and go further West here in Tx. The I would need that cash. She wants to work her R/E till she dies! Bad part is, it is either feast or famine, usually the latter! 80% of this area in a friggin National Forest! OH well.
 
bobscuda67 said:
Great! Tell us your secret!
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I invest in conservative funds that have a long track record of doing well. My father had his money in them and so do I. Even during the “Great Recession” we averaged over 8% return all through it. Last year I returned 15% and the previous year was 14%.

The fund is Capital Group American Funds - American Balanced Fund.

I manage my investments through Equitable Advisors and the returns I stated were net after their fees.

I like the American Balanced fund because it is conservative enough to reduce risk but reliable enough to get solid returns year after year. An 8% annual return means that my money doubles around every 9 years. $250k becomes $1 million in 18 years. Better returns in some years just speeds that up.
 
barbee6043 said:
If I could live so long^^^^^^^ ha
I did well with no load funds back in the 90's. Guess anyone could back then.
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It’s not like it’s all or nothing. Why not get 8-15% on your money next year? Long-term plans are not the only goal. Getting what you can in the time you have is. Besides, there is no term commitment with these funds, you can pull your money out anytime you want. Some or all, the flexibility is yours.
 
Ddaddy said:
It’s not like it’s all or nothing. Why not get 8-15% on your money next year? Long-term plans are not the only goal. Getting what you can in the time you have is. Besides, there is no term commitment with these funds, you can pull your money out anytime you want. Some or all, the flexibility is yours.
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You are probably correct but my faith in our govn't , its leaders and the whole world is pretty darn poor today!!!!! If I could just get the wife to retire I would just sell out here and go buy what I (we) want where we want!!!!! ha
 
barbee6043 said:
You are probably correct but my faith in our govn't , its leaders and the whole world is pretty darn poor today!!!!! If I could just get the wife to retire I would just sell out here and go buy what I (we) want where we want!!!!! ha
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You are overthinking the relationship between Politics vs. World economy. The real power and stability is in the money. Politics is just noise, and governed by economics at the end of the day despite political bluster. Big money likes stability and will always overcome politics to keep it that way. Governments, policies and social bias come and go...but financial priorities always march forward to further gain.

If you want to sit on the sidelines with your money, so be it. I would rather grow mine.
 
Ddaddy said:
You are overthinking the relationship between Politics vs. World economy. The real power and stability is in the money. Politics is just noise, and governed by economics at the end of the day despite political bluster. Big money likes stability and will always overcome politics to keep it that way. Governments, policies and social bias come and go...but financial priorities always march forward to further gain.

If you want to sit on the sidelines with your money, so be it. I would rather grow mine.
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I am old enough to remember the Crash of what was it '08. Yes it recovered and is huge now. I know you are right, I also hate the thought of a world on credit and print the $ as you go! I rather put my $ in land that I can touch!! But the kind of land I love is not a great investment.
 
Even if you only "invest" a relatively small amount, wouldn't it be nice to get 8-15% return?

I started with $25 a month back in 1999.

let's just say I have considerably more than that now.

...and I made a sizable profit from '08 to '12 simply by NOT getting out.

In fact, I followed part A of the most basic rule of investing- "buy low" during that downturn.
 
Ron816 said:
Listen I live in a suburb of Boston and I live in the house I grew up in a 3 bedroom colonial by the water, my parents purchased the home in 1958 for the grand total of $18,000 my home assessment now is $525,000, in my opinion the amount of debt we now have in the United States is going to be a huge problem for people that are not prepared, it now takes 2 incomes to pay for home expenses and now with the Biden administration adding even more debt along with this fake virus shutdowns of businesses you are going to see a real estate bubble burst that you could not have even imagined, down town Boston has more commercial real estate vacancies than there are occupied tenants. This is going to be very bad so much so that I am preparing to sell my business and move to Taiwan where my wife has a 5000 square foot home that is paid for along with free health care I really believe that the United States is in decline and everybody better start to prepare for that
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I have a daughter who lives in Taunton . Her house is on the market for $460,00 for a rehabbed Victorian . Can't resist . The mortgage rates are stupid low along with the demand drives up prices . Taxes are stupid high in the Northeast which drives seniors out that are on a fixed income . My best friend just moved to NOrth Carolina from Newburg N.Y. Paid cash , sold his house for $325,000 (taxes $11,000 yr) . bought same size house for $210,00 (taxes $1200 yr) . Eight hundred people a day are moving to North Carolina . Gotta be a reason for it .
 
Hmmm. I just looked up the above mentioned fund.

It's apparently exchange traded as ABALX, but it says "open only to existing shareholders".

However, here are their top holdings-

Microsoft
3.8%
Broadcom
2.6%
TSMC
2.0%
UnitedHealth Group
1.9%
Comcast
1.6%
Philip Morris International
1.6%
JPMorgan Chase
1.3%
Home Depot
1.2%
ASML
1.1%
Facebook
1.1%

That only accounts for 18%
 
mopowers said:
We're in a similar boat - albeit on the opposite side of the country. We're looking to get out of the suburbs and buy a place with room to build a shop and get away from neighbors. The good thing is our current house would sell in a week and bring good money. The bad news is any place we would want to buy would cost even more (we're looking at a 50% increase). At least rates are still low, I guess. At some point, we stopped worrying about a 'bubble' knowing that we'll be at whatever house we buy for a loooong time.

How old are you, anyway? The fiance and I are both 38.
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You gotta get out oft he Peoples Republic of California . Working people can't make it . they're working just to pay taxes . Texas is calling !
 
Ron816 said:
Listen I live in a suburb of Boston and I live in the house I grew up in a 3 bedroom colonial by the water, my parents purchased the home in 1958 for the grand total of $18,000 my home assessment now is $525,000, in my opinion the amount of debt we now have in the United States is going to be a huge problem for people that are not prepared, it now takes 2 incomes to pay for home expenses and now with the Biden administration adding even more debt along with this fake virus shutdowns of businesses you are going to see a real estate bubble burst that you could not have even imagined, down town Boston has more commercial real estate vacancies than there are occupied tenants. This is going to be very bad so much so that I am preparing to sell my business and move to Taiwan where my wife has a 5000 square foot home that is paid for along with free health care I really believe that the United States is in decline and everybody better start to prepare for that
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I lived in Randolph Mass for 20 years . Couldn't stand it . The noise, the violence and the traffic stressed me to the limit . We sold our house in 3 days . Payed cash in New Hampshire to retire . It's beautiful here but the property taxes are killing us (no sales tax and no income ) no discount for seniors . I should have moved to North Carolina or Tennessee but that's another story . $525,000 will buy you lakefront here and you can operate your business from home . No one gives a crap. good luck
 
383Scampman said:
You gotta get out oft he Peoples Republic of California . Working people can't make it . they're working just to pay taxes . Texas is calling !
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Depends on where you live and what you do. Prices here are still reasonable. It's not all Bay Area and Los Angeles here in California.
 
aaadave said:
iv'e been in the housing industry since 1971 and iv'e yet to see it not fall after a several year surge. right now, at least down here, the material price surge is adding about $30,000 to the price of the house. but, the mortgage rate down here is about 2% for a 30 year note. as long as the rates stay down there will be a market. when the rates start going up, and they will, there will be a big surge to get locked in and then it will fall off. and then the prices will begin to come down. in 50 years of this stuff, iv'e never seen it fail to happen. whats going to hurt is when gas gets back up to 4 or 5 bucks a gallon and food, taxes, energy and every thing else goes sky high. these people with the big mortgages are going be hurting. this nation has one foot in the financial grave already, and it wont take much to shove it over the edge. that's not a political statement, it's just a fact.
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agree 1000%
 
383Scampman said:
You gotta get out oft he Peoples Republic of California . Working people can't make it . they're working just to pay taxes . Texas is calling !
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I'd consider it if I could make what I make now in my line of work in another state. Plus, we both love it here, despite the politics.
 
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