Ya but in the 90s u were buying 90 houses.

Its 2020 and I'm shopping for 1970 houses.

I think it's a very good point that as remote jobs become more common, housing will become more affordable. Many people will choose to live in rural areas that are so much cheaper, and even cities will not be as expensive as a result of decreased supply.

hopefully that's how it goes anyway.

Also, when you can have Amazon deliver everything same day with a drone. It's going to be a game changer. I still think that living close to things going on will retain value, but not like it does now.

Right. SRS looking into buying some property in the mountians. Land is dirt cheap out there, now.

Yea, definitely thinking about snatching up some rural properties and waiting for that trend to come into full swing.

Please don't, you'll get buried

Stronk math incorporating daily/monthly expenses... oh wait...

depends a lot on the area. prices went up a lot in the metro area I live in now but when I look the city 200 miles away the prices havent went up over there for whatever reason. Im talking price increase over the last 10 years or so.

Looking down on other social groups/ people, the foundation of any sound fiscal strategy amirite

Certainly the unhealthy wealth gap and the effects it will continue to have on our economy is just a result of people making excuses. I see this mindset all the time and these people are the loudest to cry when they take a hit, not realizing the bubble they were riding was BS, or are forced to become victims of the policies and economic practices they themselves supported, consciously or inadvertently. For example, i know a hardcore republican who is now divorced and tryIng to fight the borrower defense loan program, from what he says it sounds like he has a case, but DeVos is being sued for rubber stamping no on everything. Its like dont come to me for sympathy, you helped Support this.

Low taxes on wealthy, capital gains, and corporations do not help job creation, middle class earnings or middle class entry. Consumer spending and middle class health helps the economy. More consumption, more work, more supporting industries. Trickle down is a complete and utter fallacy for dupes who think they are in the know, but are easily distracted by class/race/immigrant fearmongering

A few more decades without a reverse in the trend and the US will be in big trouble
.

I barely read any of that, but you sound like a peasantcel

Me a peasant! Whats your coat of arms peasant!

Wasnt this same thread posted a couple weeks ago?

The anachron retard was made a fool in that thread and looks to be here as well. His entire point that interest rates are lower so you have a lower monthly payment always assumes the same downpayment. The problem today is that it takes longer to save up for the downpayment than it did in years past, which is why millenials are buying their first home much later in life.

This. It's like when people cry about the cost of new vehicles being so high yet they have no earthly idea the level of tech/advanced safety features/etc that go into even basic commuter cars these days. A decently optioned new Honda Civic or Toyota Corrola blows all but the highest end Mercedes/BMW/etc from even just 10-15 years ago out of the water in terms of build quality and creature comforts provided to the user.

Not to mention the R&D required to meet consistently more ridiculous government mandates on fuel economy/emissions/etc.

why?

My house was built in 1995. most of my friends have homes older than that. most people don't buy new homes. Homes on average are much older than cars. Not a good comparison.

The problem I see today is that a lot millennials today want to buy the same type of house their parents live in today. They want to skip the run down starter home and live in the medium to upper class neighborhood.
Its not just millennials, my generation (Gen X) started doing the same crap. They were too good to live in a run down house. They wanted what their parents had despite the fact it took their parents 20+ years to get to where they were. My first home was a double wide trailer. My 2nd home was a cookie cutter house.

Same thing can be said about vehicles, vacations, and etc. When I was little I went to Disney World twice. I got friends who take their kids at least once a year. That's like a $5k trip per visit.

IMO there's definitely some entitlement problems here. Definitely agree. But it's not the only problem, it's also legitimately less affordable for most millennials than it was for most boomers.

I can't believe 1990 was 45 years ago

WRT "homes being nicer today" - that comes down to land rapidly increasing in value, so builders having to put nicer homes on smaller lots to pay for them. You can put a cheap home on a cheap lot, but you're not going to put a cheap home on a primo lot. That's not miscers being spoiled, it's just economics.

Tbh, I like the "1200 sq ft place with a backyard" approach for than I like the "2400 sq ft McMansion with a 'lot' 1 lawnmower wide" approach, but guess what sells for more money, a sq ft of lawn or a sq ft of home. I live in an explosively growing real estate market and I can't remember seeing a smaller starter home with a lawn built in the last 10 years.

Me too, much rather have a yard.

Don't go into real estate investing without tons of research. Buying random **** because it's cheap and in the mountains is not a sound strategy. Don't go based off feel. Stuff that's out in the boonies, unless you know of some sort of planned development, rarely appreciates, and you still pay property tax on it. Land banking is a thing, but do research on it first, it's a long play and more of a tax shelter than anything

Appreciate it!

I'm more thinking of like, something bigger than a small town, but smaller than a city. I feel like those are where people will go, so that they can still have access to things but also have a yard and some space. Try and rent it out.

Trouble is it's seems so hard to find stuff that you can rent for >1% of buying price, which I've read is the rule of thumb.

There are definitely places where you can find houses that are in "the path of progress" that are speculated to appreciate. I would recommend joining biggerpockets if you are interested in learning more.

The 1% rule is a good rule of thumb for rentals, although it really depends on the area. Here in Phoenix it's more the 0.75% rule, in some midwest small towns it's a 1.5% or 2% rule. The higher the %, or the higher the cap rate, the more risk. It matters more, is it a good deal for that area. If houses are generally going for 150k for a 3/2, and you can get it for 120k, that matters more a lot of the time than adhering strictly to any sort of rule of thumb

Appreciation and equity gain through tenants paying down mortgage is just as important if not more important than cash flow. Your long term ROI takes all of these into account. That's why markets such as San Jose and SF, while being often negative cash flow markets upon purchase, actually have historically had the highest cash flow over time. Rent appreciation is another part of this. You're raising the rents by $100-300 every year in Cali markets, not so much in the midwest

i feel pretty good about buying in the summer of 2013 here

Nah I don't believe that. I think there's sort of an elitist mindset in any sort of online community nowadays, but there's a wealth of information on there. Even if you just start by reading articles and watching the podcasts, and then slowly work your way through the forums

Although there are definitely guys on there that aren't very realistic and up to date with today's standards and numbers lol

Just imagine, it is that much to live in a place known as "Detroit of the North", where one routinely sees a month of -40*C in the winters.. Housing will be out of price for the majority of kids born this decade onwards in bumphuck Canada no less... If housing is priced beyond reach in the 1st world, what is we doing boys?

That may be true lol

Most miscers are over compensating and in general shouldn't be taken too seriously. So much fraud

It's over dude. Spin it however you like, tell me that people in the 1940s only had 1 t.v., and only billionaires could afford microwaves or a personal computer. Doesn't change the fact that the average house is now out of reach for much of the current generation, and instead of selling their homes and retiring, they will be working to pay rent in their 70s.


Ahh the feeling of progress!

paid +$1 million for a house crew checking in

Thanks brah. I listen to their podcast some, but haven't done any serious research other than comparing rent prices to buying prices around me, and seeing it's close to ~.65% in general.

I'm also debating how much risk BRRR is. so much loan $$$.