If you can't buy it twice cash, you can't afford it
Halelujah! I agree with you and I have the same mindset. A lot of people overinvest in a house thinking that they will profit when instead they are bleeding money. If you buy a house and rent it... Well that's another story! I was just watching yesterday a guy who sold his house to get rid of the mortgage realizing that now with the pandemic is not so smart to pay interest. Many will keep those cash to buy property when real estate will crash. Then, maybe then, you can speak about taking a property as an asset. When you pay a really small price for it. I liked this article, hopefully more will read it!
!ENGAGE 20
Over investing in homes seems like the normal thing to do but if I told you invest 90% of all your wealth in the stock market you'd tell me I'm crazy but it's the same thing, position size is position size regardless of what you invest in.
I'm in two minds about the housing crash like it's supposed to happen yes, but there are way too many things reliant on it, if housing crashes people lose homes, jobs, banks go bust, pensions go bust so there's a vested interest to keep it going. Some countries won't have the funds to do it, so they'll just poop the bed faster than the US and Europeans will
All I can do is watch it all play out, perhaps some countries will take the knock head on and we can pick up cheap homes there with our crypto :)
I think you have a point. It would be sad and not good to take advantage of other's people misfortune. I was mostly thinking about the new places like houses apartments being built now which are insanely expensive. Those will be a good thing to have when the price crashes. Unfortunately there will always be people who will lose their house in times of distress. That is sad.
Unfortunately, any good deal is someone's loss, and that' the nature of this universe we;ve created and I guess we can't feel too bad as we all participate willingly in these systems. We can choose to reject it but it seems like the "harder" thing to do, I hope I'll be able to figure out how to "win" eventually or be able to reject it completely and go off-grid lol we'll see what happens
Ah going off grid😍😍😍😍 This is the ultimate win in my opinion. A big forest, a log cabin, silence, books, cashflow and freedom
LOL if you ever find a good place to settle down off grid drop me a DM and I’ll be there like a bear 🐻
Ohhh definetely I will share! Off grid living would make a lot people be more in tune with themselves!