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Originally Posted by Carl Johnson
homeownership is homeownership. who gives a shit about being fearful or greedy.
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Oh really, please tell me more.....
The market is changing as we speak. The stats show that, and it's those who are fearful who are paying the exorbitantly high dollars per square foot right now. Hundreds of acres are being bought up by developers so they can build high density, high profit townhouses and condos. You're not actually buying anything of value when you're buying high density. All you are doing is buying a place to live. You, along with hundreds of other people. People you have to share your living space with.
I was taught at a young age that real estate was the only "real" investment. And while there have been times in the past 30 years where it didn't look to be the case, real estate has always won in the end. It is the biggest single purchase that most people will ever make, so you better consider the factors involved. I can't see value in buying in a high density development. There is no "dirt" as my grandmother used to call it. Her portfolio is diverse with residential and commercial holdings. There's even a little waterfront thrown in there. As she also says, "they aren't making anymore waterfront properties".
Bottom line, too many people are getting into huge mortgages for something that I don't see as having the same value as single family homes have. It used to be that you would buy a house with a yard and a place to park your car. You could put up a fence, and enjoy your own little 1/4 acre piece of Canada. That was real estate.
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have your own place beats paying rent every month and dealing bunch of bullshit with landlords.
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I happen to be a fucking awesome landlord.
Although it cuts into the profit margin.....
