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Agile | 07-14-2007 11:26 AM
Sell house, buy gold? I bought the house I'm living in in 2000. I'm seriously considering selling it now and investing the profit. Probably entirely in PMs. The main reason to sell the house isn't to get the money, though. I'm thinking of changing job locations soon. I have a feeling getting out now, as bad as it is, will be better than trying to sell 6 months from now. What I'm wondering is, what can I expect the price of apartment / house rents to do? Will they go up with inflation, or down because of the oversupply? Would I just be better off staying in the house (and the current job) or is moving into an apartment now and investing the profit a smart thing to do? (I put this thread in Survival Prep, because if things get bad, being mobile and having cash / PMs on hand could be a really, really good thing. )

SilverNuts@Bolts | 07-14-2007 11:31 AM
Re: Sell house, buy gold? Some people have done it. Could be the smartest move you will ever do.

Kahlil Gibran | 07-14-2007 12:17 PM
Re: Sell house, buy gold? Quote:
Originally Posted by Agile (Post 663368) (I put this thread in Survival Prep, because if things get bad, being mobile and having cash / PMs on hand could be a really, really good thing. )
Shiny metal and paper money isn't preferred over beans, bullets, and band-aids wtshtf. Get your Preps and safe shelter first. A refugee with a bunch of shiny metal and cash is not the best plan. :wavey: glad to see you pondering this

Baphomet Jones | 07-14-2007 12:29 PM
Re: Sell house, buy gold? AK-47, kevlar vest, rifle plates, helmet, a diesel 4X4, sodium hydroxide and methanol, a lot of nitric acid, some sulphuric acid, some deep cycle batteries, a bolt action rifle with a scope, some first aid supplies, a 55 gallon drum filled with water, couple biiiiiig bags of basmati/jasmine rice with some food grade diatomaceous earth mixed in, some bleach and other chemicals/chemistry knowledge, and some precious metals, thats a good start :D OH, and maybe a best friend who's on the same page? Backup is always good. But you can't buy those :rolleyes_m:

Agile | 07-14-2007 12:42 PM
Re: Sell house, buy gold? Quote:
Originally Posted by Kahlil Gibran (Post 663391) Get your Preps and safe shelter first. A refugee with a bunch of shiny metal and cash is not the best plan.
Definitely agree. I live in Florida, so "survival prep" can be called "hurricane prep" and be socially acceptable, even to the average person. :) Which is is a "con" on the list of pros and cons for selling the house. Preparing for survival in an apartment is harder (for several reasons) than in a house. I do have a place to go if I need to, back in the MidWest. So much depends on the scenario. Seems like I've read about how those with money did much better during the depression than those without. That's the main motivation for investing the profit from the house and living in an apartment for a while. If work becomes hard (or impossible) to find, I'm thinking it might be better to be able to move quickly and have money than have the house. (I should have sold a year ago, I guess. I think (hope?) I can still get 60k+ out of the house, but the market is rapidly getting worse. Soon, it may not be a question of getting out with profit, but of being able to sell it at all.) I know conventional wisdom says to keep the house and keep the current job, but I'm not sure that's actually the safest option.

Atahualpa | 07-14-2007 12:44 PM
Re: Sell house, buy gold? Quote:
Originally Posted by Kahlil Gibran (Post 663391) A refugee with a bunch of shiny metal and cash is not the best plan.
You won't be a refugee if you have cash and gold. Give it a test run and haul your beans and bullets on the road and see how far you get...or staying put for that matter...with no cash or gold you can't stay put or move...you are dead in the water. Selling an asset that could become a liability for a profit is not a bad idea.

demosfen | 07-14-2007 03:25 PM
Re: Sell house, buy gold? Money is important. You need it to buy PM's, beans, and guns. If it is possible in your situation, I would sell the house and put money into PMs. Owning house=expense. Owning gold=profit. You are a bit late though, a year ago would be better timing. Then of course, if you have a survivalist house (storm-proof windows, nuclear shelter, etc.), it's a different story. Or any other personal circumstances that make moving not desirable...

eyeofliberty | 07-14-2007 03:38 PM
Re: Sell house, buy gold? We sold our house about a year and a half ago, and got into a smaller house because we had two older kids leave the "nest". Took a bunch of the profit and bought PMs, gold/silver mining stocks, and buffered up the GoldMoney account, used the rest for down-payment on new house. Part of PMs, etc. will go to finance the FINAL move, which will be 20-50 acres in either Montana, Idaho, or (Rogue River Valley) southern Oregon in about 5 years. While we're doing this, we're building the other prep essentials; food, armory, med supplies, knowledge of self-sufficient power, etc.

elroy | 07-14-2007 04:09 PM
Re: Sell house, buy gold? There are a lot of rural areas in America where you can buy a house for $60k or even less. Regardless of whatever else happens a paid for residence in a non-city location is a great thing to have. Your desired location probably depends on your job. Some rural locations do not have great job prospects but it doesn't cost a lot to live in many of these areas. This housing bust is not going to correct anytime soon. Personally I bought my home many years ago and it is paid for, I don't care what it is worth or it's marketability.

Wyldwil | 07-14-2007 04:14 PM
Re: Sell house, buy gold? Quote:
Originally Posted by Baphomet Jones (Post 663396) basmati/jasmine rice with some food grade diatomaceous earth mixed in
I have both, probably on your recommendation, but have not mixed them yet. That's some sandy/crunchy stuff. How does it cook up in the rice? You ever try it Baphomet???

Ghost Recon | 07-14-2007 04:57 PM
Re: Sell house, buy gold? If I lived in Florida or anywhere close to any coast I would sell ASAP....

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