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VCJIMParticipant
How do you get 4x his money? He bought it for 50K, sold it for 70K ten years later. Unless there is something I didn’t understand.
VCJIMParticipantSelling my house was extremely emotional for me; I almost backed out at the last minute, even with a very nice profit. It was a crappy house, horrible yard, etc. Nevertheless, it was tough.
VCJIMParticipantWell all those purchases and refies are silly, except for the perky ones. Those are fully worthwhile.
VCJIMParticipantI’ve gotten a few calls from my Zip lady, she was very pleasant. I told her I was waiting for prices to drop a lot and that I’m having fun watching the market correct. Today, my Zip lady was gone! Replaced by a new Zip lady. Even Zip ladies are having trouble, so it seems.
VCJIMParticipantI think trying to predict when we’re at the bottom is the right thing to do. It doesn’t have to be at the very bottom of the trough, but somewhere “bottomish” makes sense. As he wrote, the two year period in the mid-90s was pretty flat at the bottom, I see no reason that similar indicators won’t exist this time. Of course, I’m biased : ) I’m also trying to predict the bottom.
VCJIMParticipantTechnovelist, I think you just made my point. For most of us non-professional investors, investing in a shaky currency for a higher interest rate involves too much risk and research. Investing in the relatively non-shakey Euro at a European bank would yield 2-3%, according to my research. I am also very concerned about the dollar, but as yet have not found a better, safe alternative.
VCJIMParticipantI like the JD advice. Yum.
VCJIMParticipantI’ve always wanted to live in Watts.
VCJIMParticipantI checked into foreign currency banks, they do not pay interest (CDs) anything like in USA. While it may help if the dollar plummets, the bid / ask ratio and low interest make it undesirable.
VCJIMParticipantIt looks to me like you’ve answered your own question, keep the house! You have a great mortgage, don’t need to sell, cash flow positive as a rental, want a place to come back to, like the house, etc. It may be worth less (how much less is subject to a lot of conjecture) when you return, but that mortgage will appear miniscule in two years. It is a nice hedge against inflation, especially since you are already holding a lot of cash.
VCJIMParticipantI doubt you can purchase real estate in China as a foreigner (ybc and others sure to comment). Even if you could, though, you’d have to have balls of stone to actually go through with it.
VCJIMParticipantI concur. Don’t buy a house with your girlfriend. I’m not as pessimistic as NakeK about your relationship (especially not knowing any details), but owning a house together before marriage is not a good idea regardless of how strong you feel about the relationship.
VCJIMParticipantJust be patient and study the market and the ins-and-outs of buying real estate, so you’re ready when the time comes. Work on saving money, lowering expenses and earning more money.
I was fortunate that I hit my mid-20s right in the middle of the last housing downturn (mid-90s) and was able to purchase. You are hitting your mid-20s just after the greatest housing peak in history! Buying now could severly damage your long-term plans if you end up in foreclosure, or owning a depreciating asset.
You are in a great situation in your current rental; there is no need for immediate change. Remember, owning a house = renting it from the bank, unless it is completely paid.
VCJIMParticipantProperty Taxes. Ability to refinance. Ability to gain equity through appreciation.
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