From 73% right after 0's inauguration to 51% now. 22% drop - Muchas Gracias, Dear Leader!
Yeah, your moneys better spent on nice salon nails, cell phones and flat screen tvs.
I have ALWAYS thought that people who buy a house as an “investment” were pretty D!MN STUPID. Ya buy a house so that you, your family AND your stuff have a place to hang out, THAT’S IT, NO MORE!
Owning a home has always been an American dream, and one of the best things a person can do to attain financial assets. Now, thanks to the Democrat destruction of the housing market, that’s no longer true for a large number of citizens.
Throw the bums out in 2012...
It’s not an investment, it’s a durable consumer good.
86% believe the best investments are measured in caliber.
Beautiful. As this number drops, I will know we are reaching a bottom. People always see in hindsight, so people will be completely caught off guard by a housing recover. I’m not saying it will be soon or strong. I’m simply saying that group think is always wrong. Just as the group think concurred that “house prices always go up” a year or two before the housing bubble collapsed, so the group think will concur that “housing always sucks” a year or two before the recovery.
People aren’t stupid but they sure act that way much of the time.
A home should be for a roof over your family’s head, not for profit speculation based on federal reserve induced monitary bubbles.
If they get rid of the mortgage-related tax deduction, the benefit of owning over renting substantially decrease.
So what is a family’s best investment? Hiring a K Street lobbying firm to try and keep the government off their a*s?
Owning your own home is still the best investment because it’s rent-free living in a nice, spacious, known location once it’s paid off.
To rent a place of equal quality would probably cost most of us in the neighborhood of 1000+ per month. Once paid off and near the end of one’s working years, NOT having that payment each month will be the equivalent of an annuity paying each month a thousand bucks, which is what you’d have to pay to rent. (More with inflation.)
How much money do you have to have banked to draw a 1000 a month for up to 30 years? Just simple math without accounting for inflation says it has to be in the neighborhood of 360,000 dollars.
Owning a house is the equivalent of having something like a 300,000 dollar annuity when you retire.
The only thing worth investing in right now is food, medicine, guns and lots of ammo.
LLS
I’ll never forget the first time I heard the word “flipped” applied to a house. It stunned me that people would actually buy a home with no intent whatsoever to live in it.
Housing’s “Greater Fool” ploy died the day that banksters refused to become bag holders.
If you buy a house reasonable for your means and needs, don’t pay top dollar at the top of an economic cycle, and don’t finance more than 20 years, it is still an economically sound decision. If you buy and pay it off expediently, you eventually are able to quit paying rent.
Too many people buy or build far more house than they need, finance it for 30 years, and become a slave to their home. High dollar homes also subject you to more ownership risk from price declines. Buy what you need, pay for it, and be done with it.
Frankly, I would go with Gold and Silver if I could. In fact, I am beginning to wish that I had the means to become an ex-patriate. The Hussein Clown Posse is destroying the country.
Buy low, sell high.
Since prices have come down so much it probably is a good investment now if you can negotiate a good price.
I bought a house to live in. I doubt many Americans are qualified real estate investors, so when they lose their ass on property “investments” I couldn’t care less. This idea that a home is an investment is stupid and dangerous.