The best time to buy is always yesterday but starting today is not too late and definitely don’t wait for tomorrow
- Cash is trash due to inflation - Where else do you park cash? Index fund - could work, ROI is low but fine. Stock market - probably. Crypto, nft, web3 - f*ck me, give me a break please. - People always have a need to own a place and US has made it so hard for new constructions. So demand is there. As long as there is demand, your property will appreciate. - There are many tax benefits of owning, even your cash flow in renting is net neutral or negative. To name a few, 500k free capital gain for primary residence when selling, 1031 free capital gain when exchanging investment property, pass down to your heirs with no tax, … - Before you complain about high interest rates. You don’t need to go with 15 or 30 years fixed. You can easily find 5 or 7 ARM with sub 4% and refinance a few years later. Not to mention you can deduct interest in tax return. - And lastly, don’t participate in crazy bidding wars. Don’t be lazy, spend some efforts, go to open house even the pictures from Redfin/Zillow don’t look appealing, you will find a reasonable property
Job safety in this economy?
The number one risk to Bay Area / SF real estate is remote work and how that levels out. Do people actually want to live in the Bay Area and/or SF, or do they choose it because of historical convention regarding office location. Florida real estate I think will be the biggest winner. SF I’m unsure (and I bought a house two months ago). You need something like 18% more out of your paycheck to get the same cash after taxes in California compared with Nevada or Florida.
Big companies have planned to build more offices well before covid since these things have a very long lead time. It can’t be undone now (permits have been approved by state/city, there might be some tax breaks, …). What it means is that sooner or later, the company will require some percentage of times in office. If remote really works, the companies can just outsource it to 3rd world countries, except for some exceptional talents, why do they hire a remote new grad with 100k while they can hire maybe 2 seniors engineers in Brazil for 50k each? Hybrid is here to stay, remote for everyone - highly doubt it
Well again, if outsourcing to third world countries does work (Tik Tok seems to be doing fine with mostly non-US talent), would you rather have 18% more cash in your pocket (with cheaper real estate by 4x) by participating in the global economy from Florida compared with California?
Real estate is an investment vehicle and a hedge against inflation? Who taught you this? Don’t make my toes laugh
Are you suggesting that deflation is better for real estate than inflation?
I can only thank providence for my good upbringing, and cohort who have guided me correctly away from real estate, inflation, deflation, recession, tech, stagflation, commodity, bond/default, crypto, stock, funds, money mart/currency, pandemics & wars bubble and meltdown or Ponzi scams
Too many hodlers today posting big explanation
Make sense for crypto, nft, web3. Not for real estate
Everything is bullish for their investments.
Scratched my head til I see op's user name "meta🤡 🎪", now I understand
Not buying your boomer bags Sorry mate
For housing to be good investment now it should appreciate faster than inflation, so 8%+ depending on the source. In the last few years it definitely did and more. Not sure about future though. Also highly location dependent.
Been parking all me “poor little TC” in alternative investment vehicle since 1987. I only invests in Karuizawa, Macallan Scotch whisky, BTAC bourbons, Air Jordan 4/Dunk Low SB sneakers, not in-circulation stamp, vintage coins & note/currencies, Stradivari cello/violin, Samurai & Momotaro Japanese denims, short-wheel-based vintage Porsche, and vintage sports model Audemars Piguet, Patek & Rolex, Picasso art works, NBA/Major League trading cards, and Marvel Golden to Bronze Age comics. All thanks to my grandfather & father who set a good example for me since 1960s. It’s been very rewarding for me as my 1st $100 savings from my 1st paystub is now worth so much in real cash in hand, both FBI & IRS have audited me repeatedly. It’s not about how low one’s TC is. It’s about how smart are you in your savings and more critically selecting the correct investments. Real estate as hedge against inflation/investments is wet behind ears realtors’ lies propagated by lenders and their Hollywood cronies
Nice troll
Nice try to shill your unsold properties
Only ppl still asking others to invest in homes amidst what is only the beginning of slowing job mart, layoff & interests hikes; are either prop flippers, realtors, lenders or morons
I think real estate is great but disagree with most of this, especially arm; hard no.
Many Bay Area tech buyers of real estate plan to payoff in 7-10 years, so it makes sense for them.
Why on earth would anyone do that? I'd venture a guess that not "many" people hate money.