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.
Is there any specific reason why you think the total collapse is coming soon?
I have already made plans to cover a large portion of the overall cost of the house up front and only need to get a mortgage to cover a relatively small portion of the overall cost.
If I keep renting, that is more money that just completely goes in the pocket of the property owner that I am renting from.
From my current perspective, continuing to rent for upto potentially five more years has way more costs than benefits.
I'm not going to challenge your own analysis of your own condition. I trust you to know more about it than I do.
I think the collapse is coming soon because the system is effectively spiraling out of control. More and more inflation is going to take place because the spending isn't being tamped down on. The mortgage industry has been on fire for months. Within it, all optimistic forecasts have fallen flat on their face, and only the worst forecasts have been met. This isn't a quick downturn, and it will likely go on for at least another year worsening, just for the mortgage market. Normal downturns are 18 months, but it's looking even worse from every figure that everyone's citing.
Meanwhile, the financial media is desperate to pretend that everything is fine. To this day, they are still claiming that we are not in a recession. The entire tech sector is shedding jobs left and right. In the Fed's desperate attempt to keep price rises from damaging the regime's legitimacy, they are making housing even more unaffordable, and are siphoning off more money from borrowers to put into the market. The financial institutions have been coming around begging people to put even more of their money into "retirement accounts" which are also being siphoned off. The energy crisis in Europe shows no signs of abating. We are still facing more problems with food prices as the fertilizer shortage has yet to take effect.
The system is on fire, and the only solution that the elites have is a monetary crisis that guarantees that we will shift to a Central Bank Digital Currency, even if it's on the back-end with FedNow. At that point, you just print money, and remove your political opponents from the economy. Thing is, they don't have the political capital to get away with that, so the system as a whole will basically shatter if it can't get 100% up-take.
This is why I'm saying get your money out of the monetary system. It's going to be a problem when we declare a "great financial reset" and atm's won't allow you to withdraw more than $100 every 2 weeks.
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.
Is there any specific reason why you think the total collapse is coming soon?
I have already made plans to cover a large portion of the overall cost of the house up front and only need to get a mortgage to cover a relatively small portion of the overall cost.
If I keep renting, that is more money that just completely goes in the pocket of the property owner that I am renting from.
From my current perspective, continuing to rent for upto potentially five more years has way more costs than benefits.
I'm not going to challenge your own analysis of your own condition. I trust you to know more about it than I do.
I think the collapse is coming soon because the system is effectively spiraling out of control. More and more inflation is going to take place because the spending isn't being tamped down on. The mortgage industry has been on fire for months. Within it, all optimistic forecasts have fallen flat on their face, and only the worst forecasts have been met. This isn't a quick downturn, and it will likely go on for at least another year worsening, just for the mortgage market. Normal downturns are 18 months, but it's looking even worse from every figure that everyone's citing.
Meanwhile, the financial media is desperate to pretend that everything is fine. To this day, they are still claiming that we are not in a recession. The entire tech sector is shedding jobs left and right. In the Fed's desperate attempt to keep price rises from damaging the regime's legitimacy, they are making housing even more unaffordable, and are siphoning off more money from borrowers to put into the market. The financial institutions have been coming around begging people to put even more of their money into "retirement accounts" which are also being siphoned off. The energy crisis in Europe shows no signs of abating. We are still facing more problems with food prices as the fertilizer shortage has yet to take effect.
The system is on fire, and the only solution that the elites have is a monetary crisis that guarantees that we will shift to a Central Bank Digital Currency, even if it's on the back-end with FedNow. At that point, you just print money, and remove your political opponents from the economy. Thing is, they don't have the political capital to get away with that, so the system as a whole will basically shatter if it can't get 100% up-take.
This is why I'm saying get your money out of the monetary system. It's going to be a problem when we declare a "great financial reset" and atm's won't allow you to withdraw more than $100 every 2 weeks.
The collapse is always soon. Either it'll happen or it won't.