How valuable is OWNING?
 

I've only been with GIm for 3 months, sob before losing 6k$ in spec. prior .

Im thinking of cashing out of the Home here. And renting somewhere else.

I dont have a lot of extra cash , and would relieve me of 800$ mortg. payment and free up funds into the pm bullrush.

This is a safe haven for me. But f--- its costing me 1000$ a month to keep going . and Im in debt on the place 80K$

My dad in me is saying keep your house dumb aszzzz. But debt is not good.

What would it take for You to sell out? Go LIQUID? I know most of the older hands on GIM are freeholders.:beer:

Re: How valuable is OWNING?
 

Heres the deal.If you cash out the home,real estate looks to be a collapsing bubble,may get back in cheaper.
Buy PMs meanwhile,rebuy home for less with more valuable PM later.

Could very well happen,looks to be happening.

Downside,you lose the roof over your head,PMs crash,where are you?

Thats the choice.Being a free and clear owner,Im not selling until I have a paid off home to go to,I like the security,and Im old,not as much time to recoup losses.

Spuds:sheep:

Re: How valuable is OWNING?
 

Renting has a lot of benefits.
Namely, You can just walk away from it without looking back.
Privacy is another factor.

We americans buys and sell our homes on average every 6-7 yrs, Last I read, Not much equity being built up in that time anyway

Re: How valuable is OWNING?
 

Depends on where you live melbo. Out here the price of a home can double in 3 years.

Re: How valuable is OWNING?
 

I'm looking at the RE market with those comments Alric... I don't know if you will continue to see that doubling.

I make my living from Real Estate. (Not a REALTOR), and I'm slowing it down a little, well, the Cash I have laid out in speculation.

An area that doubles in 3 yrs will be the article on wikipedia for "Real Estate Bubble Breaks"

#1 rule for me is that your Personal residence should never be considered an investment. Regardless of what the Home Depot commercials tell you

Re: How valuable is OWNING?
 

Nuggethunter, what part of the country are you in? There are two tyoes of debt out there, secured and unsecured. Unsecured debt is just bad but secured debt is usually ok as long as you can pay the bills.

Remember, a rising tide raises all ships. All asset classes including real estate should increase in value over the coming inflationary years. Heck, I can even setup stuff where you could sell your house and have it leased back to you.

Re: How valuable is OWNING?
 

For me, owning our small farm is everything. I grew up in rented properties, and dreamed of the day I'd be successful enough to buy land and a house so that I could do what I WANTED to do, when I wanted to do it. We don't really OWN it yet (mortgage) but we're on our way. I just don't think that I- personally, could live in an apartment or rented house where I have to answer to someone else (owner/landlord) on what I do. Owning is more expensive (taxes, insurance, upkeep) but it's worth it.
cv

Re: How valuable is OWNING?
 

Im in NE Nevada. After payroll taxs, mortgage, living etc.., there aint a hellof a lot left over. Ill keep the place and just try to figure out how to make 20K$ more per year. But F....by '09 the sh--will be hitting the fan so.....

I'll keep the castle and hope for the best. I think I was just whinin.

These csucker banks are chargin me 350$ a month mortgage interest AND out of money the bastards create out of thin air, dirty bastards. F EM

Burn in Hell wells fargo bastards