"Making a million bucks is easy, bruh. You just gotta hustle, bruh!"
Now imagine MILLIONS of young people constantly seeing others driving Lambos and vacationing in Dubai while they can hardly save a dime to move out of their parents house. What effect do you think that's having on an ENTIRE generation of Americans?
To be honest, if you consider how house prices increased is not that hard to become a millionaire. Got an ex-coleague, he had an apartment in Boston and sold it and bought a house in a suburb. Then sold that house, bought another a bit further away and then sold that one and bought another house even further away he has a million easy. Still had to have the apartment to start with and he was smart enough to capitalize on the the house prices boom.
I don't know how anyone can afford to buy new houses now. Even in my area the price of houses is insanely high.
The real trick is buy raw land and building a house on it.
The problem? Banks never, EVER want to lend money for raw land. They just don't. I had to jump through hoops to get the land I bought - going to a bank specifically designed for it, and even then, they have a lower limit on acreage.
That gets into a whole other can of worms, because then, technically the bank is building a house on your land. As in, they can pause/stop construction by the simple method of cancelling the "drops" and not paying the contractors.
"Making a million bucks is easy, bruh. You just gotta hustle, bruh!"
Now imagine MILLIONS of young people constantly seeing others driving Lambos and vacationing in Dubai while they can hardly save a dime to move out of their parents house. What effect do you think that's having on an ENTIRE generation of Americans?
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To be honest, if you consider how house prices increased is not that hard to become a millionaire. Got an ex-coleague, he had an apartment in Boston and sold it and bought a house in a suburb. Then sold that house, bought another a bit further away and then sold that one and bought another house even further away he has a million easy. Still had to have the apartment to start with and he was smart enough to capitalize on the the house prices boom.
I don't know how anyone can afford to buy new houses now. Even in my area the price of houses is insanely high.
The real trick is buy raw land and building a house on it.
The problem? Banks never, EVER want to lend money for raw land. They just don't. I had to jump through hoops to get the land I bought - going to a bank specifically designed for it, and even then, they have a lower limit on acreage.
Shit is very, very fucked.
What if you pay cash for land and want a loan to build a house?
That gets into a whole other can of worms, because then, technically the bank is building a house on your land. As in, they can pause/stop construction by the simple method of cancelling the "drops" and not paying the contractors.