Posted on 12/11/2018 8:59:22 AM PST by SeekAndFind
WSJ does not seem to realize that the more Capitalism is presented as a casino game the more likely people are to veer towards Socialism.
You can get a mansion in Buffalo, NY for half that- and retire on the rest and enjoy 4 seasons.
Probably not a good idea. My Florida neighborhood is full of people from Buffalo. There must be a good reason the place is depopulating.
With the Fed pushing interest rates to 3.5% in 2020, what the hell do they expect?
What is not good for the economy is when the lowest on the totem pole cannot buy a house for a reasonable price.
I remember meeting a guy who had purchased half a dozen new houses in Gilbert, AZ that he was holding vacant.
He bought the first one with cash and then borrowed against that one to buy the next one, and so on.
His "theory" was that the market was rising so quickly he could afford the carrying costs until he sold out at a big profit.
Seemed like a crazy idea at the time and that was in 2006.
1) Inventories are real low if even existent for cheap fixer uppers in areas that people actually want to move to or buy into.
2) Interest rates are high compared to the last 10 years because of the Fed.
Do they stay down there all year?
Those are the wimps- who don’t ski
(just kidding I am sure they are fine people)
PS Who do you know from Buffalo? I live near Buffalo
Jeez - what’ll HGTV do for programming?.....
My wife and I are still flipping. Closing on our sixth one soon. We aren’t looking to make a killing but we enjoy it and our net profits have been fair, 10 -22%. Modest priced homes and we do a lot ourselves.
Houses aren’t made to flip. Just silly.
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