[quote=deadzone][quote=sdrealtor]The younger generation can afford houses lots of places. But there have always been places that were too expensive for most to and this place is joining that list for many including those who passed up on the opportunity of a lifetime.
The answer is it doesnt bother us, we just understand that it would hurt many good hardworking people. You are just bitter, the “Fuck you I didnt get mine” mentality is strong.[/quote]
It does bother you. The idea that RE can and will go down bothers you a lot, very clear by your posts.
As usual you always make it about me. I don’t represent the younger generation who has no shot at ever owning a house in the present situation. Your “opportunity of a lifetime” line doesn’t apply to the vast majority of “hard working” folks who are screwed in this distorted market, they never had a chance.[/quote]
Good morning DZ. Glad you conveniently dodged my question again (more on that later)..I’ll say it again. You are completely wrong and trying to deflect and gaslight what we are saying.
Neither sdr or me or AN care about any sort of RE price correction because frankly none of us have any plans to sell any real estate , we’re going to hold on indefinitely and pass it on to our kids. We cared enough about the appreciation only temporarily so we could do a cash-out refinanace to take equity out at 3% 30 year fixed, so we could easily beat that YOY for the next 30 years, not because we had to, but we could. (Some such as sdr and AN managed to pull off a below 3% 30 year fixed)…
I could write a check and pay this off anyday if I wanted to. Tenants pay for those cash refinances, even with the old rent prices..But now with higher new rent prices thanks to inflation, that’s even additional cashflow that we weren’t expecting. And that’s totally sweet.
There is no other benefit of appreciation unless one plans to sell and cash in. And none of us have any plans to sell, ever. We’re part of the problem why housing inventory is bad. Because with 30 year ridiculous low rates that we locked in, there’s no motivation to ever sell, ever…. inventory that will never appear on the market…ever…
Now back to my original question that you dodged, that I’ll ask again…about your extreme defensiveness when asked that you conveniently dodge..
[quote=coronita asking larry]
I’m merely pointing out your big axe grinding bias …from falling behind financially over the past 20+ years from trying to outsmart the system, but that it blew up in face, both sitting idle and not securing a primary residence for 20+years. And also for not materially participating in the stock market for the 20+ years..
You got overly defensive when I brought that up but didn’t refute it..Is it because I’m correct why you are so defensive about it?
1. for the past 20+years of working , do you have a 401k , 403,traditional IRA and/or Roth IRA you make regular contributions to in a tax advantaged way?
2. if you don’t make regular contributions to one of the above in (1), have you even bothered to open a 401k, 403b, traditional IRA, or Roth IRA at any point during the past 20+ years of you working?
If your answer is no (1) and (2) that’s certainly your personal choice. BUT certainly glad it wasn’t mine.
[/quote]
sdrealtor, an, and I have a bet going on if I’m right or not. We need to determine a winner. There’s one dollar at stake here, just like in Trading Places.
