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'The worst investment people can make': Real estate guru Grant Cardone says too many Americans are chasing after the dream of homeownership. Here's what he thinks you should do instead
moneywise ^
| sep 27, 2023
| Bethan Moorcraft
Posted on 03/12/2024 1:09:28 PM PDT by where's_the_Outrage?
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This guy may be smarter than me but I would not follow his advice. Part of the issue that if you don't own your home you are losing rent, insurance and not putting down roots to live.
To: where's_the_Outrage?
He’s right in one respect: Nobody should buy a home as an investment. It’s one of the worst investments you can make.
You buy a home because it’s a place to live. That’s it.
2
posted on
03/12/2024 1:12:32 PM PDT
by
Alberta's Child
(If something in government doesn’t make sense, you can be sure it makes dollars.)
To: where's_the_Outrage?
3
posted on
03/12/2024 1:13:00 PM PDT
by
Magnum44
(...against all enemies, foreign and domestic... )
To: where's_the_Outrage?
So you should throw money away in rent rather than invest it in your own equity. No thanks.
4
posted on
03/12/2024 1:13:35 PM PDT
by
ProudDeplorable
(Concentrated power has always been the enemy of liberty. ~ Ronald Reagan)
To: where's_the_Outrage?
The problem is that we are running out of younger people willing and able to afford home ownership. House prices are inevitably going to decline over the next few decades, and we’re going to start seeing abandoned homes, as they already do in Japan. If you’re a younger person who decides to buy a house, do it because you want a house to live in - it’s not going to become the high-yield investment vehicle it was for your parents.
Comment #6 Removed by Moderator
To: AnotherUnixGeek
House prices are inevitably going to decline over the next few decades, and we’re going to start seeing abandoned homes, as they already do in JapanPlenty of foreigners still want US real estate, and that's what keeps prices out of reach for the average American.
7
posted on
03/12/2024 1:14:26 PM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: where's_the_Outrage?
You will own nothing and be happy.
8
posted on
03/12/2024 1:14:38 PM PDT
by
Baldwin77
(DJ & JD 2024 (Trump-Vance))
To: where's_the_Outrage?
No thanks. Rents around CA 2500.00 to 3500.00-which I save each month.
9
posted on
03/12/2024 1:15:12 PM PDT
by
Mark
(DONATE ONCE every 3 months-is that a big deal?)
To: Alberta's Child
The worst investment is a car, but you still need one.
10
posted on
03/12/2024 1:16:06 PM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: where's_the_Outrage?
Recommend:
1. Eat bugs
2. Own nothing
3. Be happy
11
posted on
03/12/2024 1:16:49 PM PDT
by
MtnClimber
(For photos of scenery and wildlife, click on my screen name for my FR home page. More photos added.)
To: where's_the_Outrage?
Stupid!
Stupid!
Stupid!
Buy a home you can pay off in short time.
Don’t buy a car on payments.
Stay out of debt.
By assets.
Don’t Watch TV.
Click Off!
12
posted on
03/12/2024 1:17:23 PM PDT
by
Texas Fossil
(Texas is not about where you were born, but a Free State of Heart, Mind and Attitude.)
To: where's_the_Outrage?
owning a home is NOT an investment, it is a necessity because you need a place to live, trust me I have 3 of them...However I will be selling two and my business and retiring soon.
13
posted on
03/12/2024 1:17:37 PM PDT
by
eyeamok
To: Alberta's Child
I started buying cheap houses for cash and renting them out in 2008 now own 14 . I use to be middle class not any more those house have returned a out 20% every year. No job 13vyeard life good
14
posted on
03/12/2024 1:18:48 PM PDT
by
genghis
(Cathinkngact only re check ason go after e puthatn 5nu0 inbbiedComlpln)
To: MtnClimber
15
posted on
03/12/2024 1:18:51 PM PDT
by
Texas Fossil
(Texas is not about where you were born, but a Free State of Heart, Mind and Attitude.)
To: where's_the_Outrage?
There’s so much wrong with these assumptions, I don’t even know where to start.
My First Choice as a house would not be something over half a million. If that’s the price of a starter home, rents would also be outrageous.
The house we now have is probably about that amount. But we started off with a $90,000 house, paid it off, then went to a more expensive house. And so on and so forth. I never considered any of them an investment, just a vehicle to be able to store some money in to pay for the next house, until we were done moving. Which is hopefully now! Not to mention having a pretty nice place to live. If I was paying rent I wouldn’t be willing to pay $3,500 a month, I would live in some squalid Apartment since I’d be throwing my money away.
16
posted on
03/12/2024 1:19:29 PM PDT
by
CottonBall
(The only thing necessary for the triumph of evil is that good men do nothing.)
To: Texas Fossil
17
posted on
03/12/2024 1:19:29 PM PDT
by
MtnClimber
(For photos of scenery and wildlife, click on my screen name for my FR home page. More photos added.)
To: dfwgator
A car is a tool, not an investment. When you factor in the value of what you can do with your car, it pays for itself many times over.
Interestingly, my company vehicles may qualify as an “investment.” I buy each one new and drive it for as long as it lasts. When you keep a business vehicle for 250,000 miles or more like I do, the per-mile tax deductions end up being far more than the amortized cost of owning it.
18
posted on
03/12/2024 1:19:56 PM PDT
by
Alberta's Child
(If something in government doesn’t make sense, you can be sure it makes dollars.)
To: where's_the_Outrage?
19
posted on
03/12/2024 1:20:50 PM PDT
by
C210N
(Mundus vult decipi, ergo decipiatur.)
To: MtnClimber
Yep.
And they pay him the BIG Bucks.
20
posted on
03/12/2024 1:20:56 PM PDT
by
Texas Fossil
(Texas is not about where you were born, but a Free State of Heart, Mind and Attitude.)
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