Mortgages aren't the same as real-estate. Mortgages are the debt financing for the investments that are propping up the system. Mortgages aren't an asset, and when you take out equity lines of credit on your house, and the house value collapses, while your mortgage payment doesn't fall, you're going to be up shit creek without a paddle. The profits from your mortgages are already being blown out the ass of people making terrible investments in the stock market.
I'm talking about commodities like land, homes, gold, silver, firearms, luxury cars, certain types of jewelry, or (if you don't want to use an asset) invest in a small business. I'm saying this because we are moving into an asset growth period of an asset cycle.
Buying a house right now is a (generally) bad investment because you should be expecting to take a 50% loss once the economy collapses fully. If you had spare homes, and wanted to sell those and put them into other commodities, that might be a good idea. Sell homes, buy land, kind of a thing. You can preserve wealth between moving from one asset class to another. Or, if you're really good with real-estate, you can put money into a different part of the real estate market which is going to do well, so long as you don't have to take out asinine mortgages to do it.
For most small people, yeah, putting money into gold and silver is a good idea. It's going to be much better than the bank account. I'm fucking living it right now. I
I understand that desire, but I wouldn't get a mortgage because the house won't be worth it in the coming years. Whatever you get, understand you'll lose 30%-50% of it's value over the next 5 years, and that to profit or preserve your wealth, you'll have to put money into developing the house or land.
They always could. You don't have retirement accounts. You don't have bonds. Your mortgage is a giant money pit.
Get your life savings out of the system and put it into assets. When the system collapses, and it has to, everything goes with it.
BE THE PINECONE.
Ok, you say a mortgage is a money pit.
So If real estate is not an asset, what is?
Are you seriously recommending putting your life savings all into gold and silver.
Mortgages aren't the same as real-estate. Mortgages are the debt financing for the investments that are propping up the system. Mortgages aren't an asset, and when you take out equity lines of credit on your house, and the house value collapses, while your mortgage payment doesn't fall, you're going to be up shit creek without a paddle. The profits from your mortgages are already being blown out the ass of people making terrible investments in the stock market.
I'm talking about commodities like land, homes, gold, silver, firearms, luxury cars, certain types of jewelry, or (if you don't want to use an asset) invest in a small business. I'm saying this because we are moving into an asset growth period of an asset cycle.
Buying a house right now is a (generally) bad investment because you should be expecting to take a 50% loss once the economy collapses fully. If you had spare homes, and wanted to sell those and put them into other commodities, that might be a good idea. Sell homes, buy land, kind of a thing. You can preserve wealth between moving from one asset class to another. Or, if you're really good with real-estate, you can put money into a different part of the real estate market which is going to do well, so long as you don't have to take out asinine mortgages to do it.
For most small people, yeah, putting money into gold and silver is a good idea. It's going to be much better than the bank account. I'm fucking living it right now. I
Well i am just speaking as someone who is planning on buying a home in the next few months.
I am sick of the hassles of renting after doing it for years.
There is no perfect time to buy a home these days.
I do agree with some of your other suggestions.
I understand that desire, but I wouldn't get a mortgage because the house won't be worth it in the coming years. Whatever you get, understand you'll lose 30%-50% of it's value over the next 5 years, and that to profit or preserve your wealth, you'll have to put money into developing the house or land.
beanie babies..