Real estate values are going absolutely crazy!

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   #31  

coobie

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Lots will loose at musical chairs this time around. Only a matter of time now. Glad I'm not in that boat.

Only thing that bothers me is the current you don't have to pay your rent bs. So far I've been ok with my renters but who knows. I do know that if they don't pay, when it's done they will be evicted quickly and I'll get a deficiency judgement for the amount owed.

...and I'm nasty. Had a lot of years to perfect my nastiness.
Maybe you need to drive over to morenci mi and hit the weed store and chill out.☮️
 
   #32  

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What's driving this market is, 1) extra Available money, 2) Extremely low interest, 3) People sick, tired and disgusted with living in dirty, stinking, filthy Cities where the politicians they elect won't protect them, won't educate their children (something they pay dearly for in the form of property taxes), won't help provide jobs and are generally utterly and completely worse than worthless, 4) People are working from home now so they don't need to put yp with crooked, corrupt, lying, thieving, disgusting political machines as nother in 3 that do nothing but tax them half to death. And lie. And steal. Votes especially.

So now, people are voting with their feet. The politicians can't rig that kind of vote.
 
   #33  

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Maybe you need to drive over to morenci mi and hit the weed store and chill out.☮️

There's a whole field of hemp just down the road from my farm on the way to Lansing. I'd estimate it's just over 5 acres. Hard to tell.

I would think that the size of the plot you have is regulated like the old tobacco plots used to be.

I was gonna look into maybe planting a couple acres. Maybe next year. Maybe not.
 
   #34  

YanmarFever

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We sold our home in Oregon on 20 acres and we got a great price on it, we had quite a few offers, then a realtor bought it!
There is definitely a shortage of houses at the moment, people want out of the cities and move out to the country at all costs.
 
   #35  

5030

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All bubbles bust Ernie. Just be patient. Economies are all cyclical, much like elected officials.

I strongly suspect that there will be a whole lot of home buyers holding the bag (with nothing in it) shortly.

With elected officials, they all 'promise' something new and improved when in reality it's just a rehash of the same old, same old...
 
   #36  

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I hear ya and I will be ready to invest when the SHTF on new real state.
 
   #37  

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I agree that this bubble is gonna burst. Especially because it's based on -- Nothing. Just cheap and easy money. Nothing. No reforms, no expansion of real jobs, like in the manufacturing sector no deregulation, no bringing manufacturing home..... Nothing. Just a bit of childish glee about restrictions on International thieves like China being relaxed.

And the worst part is, companies are still moving overseas as fast as, faster than, actually, ever.

I called it last time. I even specified the CRA (community reinvestment act) would be the lit fuse that caused it all. Building, buying, speculating based on -- Nothing.

The worst part is, since we're an 'innovation-based' economy, certain elements in our useless goobermint have reduced policing of intellectual property being stolen by the Chinese (is that racist? never know these days when some SJW will invent a reason to call someone pointing out the truth a racist. It's kind of a catch-all word for idiots with low IQ's who can't make a point. whatev). They're 'in your face' about it. They just don't care if we know they're doing it. They couldn't care less. At all

And when the 'Fed' clamps down, which they will eventually have to, watch it all crash and burn.

Problem is for me, trying to time the market which, I know, is a fool's errand but right now, it's kicking butt and I'm not going to get out until I have to. Hope it's not too late by then.
 
   #38  

Larry Caldwell

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Repeat of 2007-2009 housing crash.Keep $$ on hand for good deals ..
We have no idea what will happen. The Fed's loose money policy has put us into unknown financial territory. Dump trillions of dollars into the economy, and the price of everything will go up. What is actually happening is the price of the dollar is going down.

I had a discussion last month about a Jersey cow. In 1955, we separated the cream and sold the butterfat to a local creamery. That one cow produced $600 worth of cream in one year. I was curious how much that would be in today's dollars, so I plugged it into an inflation calculator. It turns out that $600 in 1955 was worth $6000 in today's money, and that was with a consistently conservative fiscal policy.

If the dollar can lose 90% of its value since I was a kid, it can lose 90% of its value in the term of a 30 year mortgage. Maybe the market will tank and good deals will appear, or maybe the fiscal death spiral will continue and holding dollars will be the wrong move. Your guess is as good as mine.
 
   #39  

Larry Caldwell

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But those prices in Victoria were probably in Canadian dollars!

We bought a small 3bed/1bath house on a 1/3 acre lot in Fulton, MS in 2009, primarily to store stuff in. Paid 25K, it was a foreclosure. But more important it is the house my wife grew up in. A "flipper" had bought it about 2007, partially redid it and got foreclosed on. It still needs probably 10K of work,
Zillow now values it at $80K. House next to it is at $173K
You could have made a 14% return just by moving your US dollars into Canadian dollars a year ago.
 
   #40  

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We have no idea what will happen. The Fed's loose money policy has put us into unknown financial territory. Dump trillions of dollars into the economy, and the price of everything will go up. What is actually happening is the price of the dollar is going down.

I had a discussion last month about a Jersey cow. In 1955, we separated the cream and sold the butterfat to a local creamery. That one cow produced $600 worth of cream in one year. I was curious how much that would be in today's dollars, so I plugged it into an inflation calculator. It turns out that $600 in 1955 was worth $6000 in today's money, and that was with a consistently conservative fiscal policy.

If the dollar can lose 90% of its value since I was a kid, it can lose 90% of its value in the term of a 30 year mortgage. Maybe the market will tank and good deals will appear, or maybe the fiscal death spiral will continue and holding dollars will be the wrong move. Your guess is as good as mine.

Not to be a weenie, but the average household income in 1955 was around $5k a year. Today it's over $78k a year.

But back then, the woman of the house didn't have to get up every morning, get the kids ready for work, make breakfast for everybody, make sure her husband actually put his clothes on right (if at all), get herself ready for work drive there for a half-hour, spend between 9 and 12 hours there and drive home. Very often leaving the house when it was dark and getting home when it was dark. Then clean the house or, at leaat tidy it up if she's lucky enough to afford a house cleaner once a Month. She gets to do the clothes too and make sure she picks up all their snowflakes from some absurd charter school (that's about as useless as a screen door on a submarine) do the clothes, the dishes..... And don't get me started on all the 'sports' leagues for chilluns. disturbing

The problem is, we all want nice things. We want to bring our children up somewhere safe, somewhere that doesn't have shootings ever week, somewhere that doesn't have a drug pusher on every street corner and predators in the park. You'd think that people would have enough sense to vote the scumbags that allow that to happen out of office but, they don't. I know why but it will offend too many people; because the truth always does

So what they do is what people have always done when faced with extreme adversity -- They run.

To the 'burbs, to the near-country. And that costs money. Lots of money. So mama usually pays the price. So does Dad and so do the kids because the woman, who makes the family work, isn't around enough.

It is what it is. It won't change in my lifetime and probably not in the lifetime of anybody that's in here.
 
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