[quote=briansd1][quote=bearishgurl] The point I’m trying to make here is that the “choice” properties in the “best hands” are not going to move in the near future if their values are artificially held down by the mistakes and greed of the irresponsible masses. [/quote]
I disagree that any market price is “artificial”. It’s the real price at that time.
There is a price to pay for waiting. First, you’re not getting any younger and the money you could have accessed to enjoy life is locked up, so you have to restrain yourself in other areas.
Look at Japan, 21 years after their peak, the Japanese vigor is gone. Many areas outside the urban cores have not recovered in value. The Nikkei’s peak was 38,000. Now it’s at about 8,700.
You don’t see Japanese tourists traveling the world and enjoying life as much anymore. The Japanese signs have disappeared in favor of Chinese.
I’m not saying that America will suffer the same fate, but we could experience an extended malaise.[/quote]
Like I said, I don’t need to recover my purchase price, just my cash investments, mtg balance at the time and closing costs.
Collecting rental income for a few years would supplement my retirement income. If I did NOT retire my mortgage, potential vacancies would have to be budgeted for. If I did end up retiring my mtg, I wouldn’t have as many worries regarding vacancies but you are correct in that I would not have that amt of cash available.
I could always list it for sale a few years into my “retirement” if the conditions are such that I will receive offers I would accept.
The above are choices for ANY “equity” homeowner with a mtg who is nearing retirement-age.
If the US economy experiences an “extended malaise” in the near future but yet these lenders “get with the program” this coming year and take back all “their” properties, then there would be other reason(s) for the “extended malaise,” no?
What caused the Japanese stock market to crash “21 yrs ago,” brian? I wasn’t paying attention to this stuff in the early ’90’s.
