I dropped by my old house to drop of some stuff and ran into my old neighbor and had a nice chat with him. One of thing i brought up was I wasnt sure whether i should continue renting out my house out or sell and cash in on the crazy insane home prices right now.
What he said stuck in my mind. His opinion, both China and the US were both beyond the point of no return, the only real option for both was to print their way out and devalue both currency. It was interesting that he said he was doing just about everything except staying in cash. He was curious why I was thinking about selling my house and I mentioned well this one in Carmel V, rent isnt great, tenants are a pain in the ass and dont stay that long, and right now with Carmel V homes costing more than $600+ per square ft, seems like appreciation is way better than rental income will be over many years…
He sort of chuckled and said well, just about the worst thing anyone could have done is stayed in cash for so long. If someone did in san diego, counted solely on their wages, never took on higher risk in assets/investments, and stayed renting all these years…there is no doubt…they are most likely priced out of the San Diego housing market right now and probably indefinitely…if you sell your house, you might want to think about doing so to obly buy real estate that cash flows better elseehere in dan diego, otherwise yoi might ever be able to reenter the market again short or something else keeping up with the printing that will happen…
In hindsight. All those people thst boufht houses in say 2005-6. Was it rrally a bad decision if they were able to hold on? Maybe not…
