It's not over yet... We have the covid, a recession that was 12 years ago, and we have a democratic president who is looking to change everything. The perfect mix for a recession. And yes, I am going to rent until houses are cheap again. Be prepared, because in the future when we have an even worse recession than when this first round of covid was here, I am going to dig this thread up and put you in your place like the fool you are. And I will be laughing as I am moving all my things into my new house that sold for dirt cheap. And you will be kicking yourself since your houses will be worth probably half their value. Buying a house now before a recession is the worst advice I have ever heard. I will gladly pay rent if it means saving 100k on a house. Not nessecerily saying your real estate strategy is wrong, but it's not the best.... Nevermind, it is wrong, it's horrible. Have a good day
Look at US housing and mortgage markets and Spx500 from 2008 to 2016. Guess who was president during that time.
I guess it's ultimately just the difference between a renter and owner mentality. I own my houses and own my business and don't let politics rule my life. That has worked out quite well for me, taking me from a lower middle class background to the point now that I could quit working on Monday and want for nothing for the next 50 years even if my houses went to zero and I shut down my business. I live a rich and full life that I couldn't be happier about. You rent, live in fear of politicians, and by your own admission end up living what you yourself called a "meager life". Apparently in your world that makes me a "fool". One wonders what it makes you? My "real estate strategy" for the last 20 years has been to own the house I live in so that the money I would be paying in rent to a landlord instead goes toward the principal on my house. In most places where I've lived, principal, interest, and property taxes minus the tax write-off for interest and property tax are about equal to rent. That means that over 20 years I've paid about 60% of the cost of the house down without paying a dollar more than I would otherwise have paid in rent. That means if my house fell to 50% of the value I purchased it at, I would still be 10% ahead! Same thing when I move and rent my old houses out, their rent covers my payments. So no need to wait to see the results of that strategy, I'm enjoying those results now after putting my money on the line for the last 20 years, including through the 2008 housing crisis. And doing so in an intelligent way where I didn't succumb to some crazy Obama derangement syndrome (or Bush or Trump), realizing that it's impossible to time housing markets and that Presidents have almost zero impact on them, and instead just bought a house every time I needed a place to live instead of paying rent. Your "strategy" on the other hand... it's very unclear what it is or what your experience is in this subject but you've clearly demonstrated in this thread you lack any kind of knowledge base or ability to logically analyze it. Plus this bizarre compulsion to pull Obama into your decision making even when it turns out your prior beliefs about what happened under his Presidency when it came to residential real estate prices were dead wrong; you really need to get a grip on that bit of crazy.