Dollar Devaluation

[Smitty-48]

40% would make me so goddamn happy right now.

My down payment is a bigger percentage, and the money from existing house pays off more principle. Bring it on please!

The only folks who lose are the ones taking out loans against their houses - speculators.

I never tried to time the market, it's all about location and finding the undervalued property there

[Smitty-48]

I did not actually buy real estate as an investment

we were climbing the property ladder to get from our first home to our dream home

dream home at a dream location was our objective

in terms of profit, I made my money in the stock market

I've never actually cashed out of the real estate market, I just reinvested that value into a nicer home

[Smitty-48]

bear in mind that when you have a mortgage, inflation is your friend

your debt is being inflated away, your mortgage is getting smaller as you go

but what that means in that over the term of the mortgage, your inflation adjusted returns will be modest

it's not a big profit center, it's an asset that you use, a durable good in effect

when you are young it is a savings account you can live in

you climb the property ladder exchanging for nicer properties with your savings therein

eventually, you get to your dream home, then price doesn't matter, because you're not going to sell

[SuburbanFarmer]

Exactly true. I’m attempting to move from first home to dream property.

Income is up, debt is down, so the only market factor is looking for a downturn. In my market, we got swamped with east coast refugees over the past year.

Hopefully, enough of them will move back to their hovels soon, that the speculators dump their investments, and I can purchase my forever country estate.

[Smitty-48]

Exactly true. I’m attempting to move from first home to dream property.

the point is not to make cash, the point is to acquire the property you can enjoy for the rest of your days

that's the payoff, you are parking your cash there, you can't live in your cash, paper has no value unto itself

[Martin Hash]

Exactly true. I’m attempting to move from first home to dream property.

the point is not to make cash, the point is to acquire the property you can enjoy for the rest of your days

that's the payoff, you are parking your cash there, you can't live in your cash, paper has no value unto itself

This should also be an MHF motto.

[Smitty-48]

for the average American, it's not a case of having to find places to park their cash

acquiring the fully detached dream home at the dream location is going to use up all their cash

that's going to be their big investment

the more important thing is finding the right wife, that's the linchpin of the American Dream

if you don't have the wife, there is no point in buying the home, a bachelor is better off renting & buying stocks

[PartyOf5]

bear in mind that when you have a mortgage, inflation is your friend

your debt is being inflated away, your mortgage is getting smaller as you go

This is why I'm contemplating buying another property, even if it's just land.

[Smitty-48]

bear in mind that when you have a mortgage, inflation is your friend

your debt is being inflated away, your mortgage is getting smaller as you go

This is why I'm contemplating buying another property, even if it's just land.

just factor in that you will have to pay capital gains on your investment properties

but certainly people are doing that here

in fact, a couple down the street sold their home here, then bought two homes with the returns in Nova Scotia

so they live in the one home, they rent the other home out to generate income

we just like our home here, I've lived in Nova Scotia, I don't like the weather

[Smitty-48]

there's only two places worth living in Canada

southern Ontario or southern British Columbia

the rest of this place is a dreary hellhole, like one big giant North Dakota