Topic: House is a forced saving - page 3. (Read 1510 times)

Let me tell you one, unpleasant example from life.
Ukraine. 2007-8 year. The real estate market, like the rest of the world, is growing rapidly. Prices are constantly rising as well. Although a huge amount of real estate is being built, there are new players-developers on the market almost every day.

An acquaintance, in 2008, closer to autumn, decides to buy real estate. Ordinary apartment, 2 bedrooms, common room, kitchen, 2 bathrooms, balconies. approximately 110 sq.m. The price is about 250,000 dollars. The whole amount is not, or rather, most of the amount is not. He finds a "solution" - a bank mortgage. To reduce the interest rate - in foreign currency, in dollars.
My arguments that this is the worst decision in his life are ignored with a smile, and with the words - "I'll sell more in a couple of years and earn a suitcase of money." Buying an apartment.
The summer of 2009, about half a year after the crisis, late at night I got a call on the intercom ... On the other side of the intercom - a wildly drunk comrade, "the happy owner of real estate." Came "on a visit", to complain about fate. Well, the crisis and the crisis, many became worse at work, my friend lost a significant part of his income, and, accordingly, could not "pull" a mortgage, and also could not restructure. As it turned out: he came to the bank and said - take the apartment, and write off the body of the mortgage, interest - let's discuss. The answer is - we don't need an apartment!!! It cost $250,000 when purchased, now it costs $200,000. We can pick up the apartment today and write off 200,000 - according to the market price. The friend refuses. After 3 months, he realizes that he can no longer withstand payments at all. Goes to the bank. They tell him - well, no question. Today we are signing an annex to the contract, we are withdrawing the apartment, and they will take into account ...... 150,000 dollars. My friend turns gray, starts yelling, and in response to him - look, prices on the market - 150,000 is the normal price of an apartment .... The story ended not very positively, but everyone is alive .... And a huge negative experience.

In 2017, I bought an identical apartment, only in a much better location, with much more comfortable living conditions, for up to $100,000.

Therefore, your call not to sell is not always true. Especially if the market is a bubble. To hold such an asset - to receive even greater costs and financial obligations, and as a result - huge losses!

We can save money if we are at home, if we are in the office, mall or streets, there will be a lot of temptations for shopping even for things we don't need such as junk food, clothes, hats and so on, and to make our home comfortable we have to make A pleasant at home.

A good and profitable investment is a house, the price of the house always goes up because of the very high needs, the presence of the apartment does not become a competitor from the house because of a different market share, people buy an apartment not aiming for investment but only to live temporarily, when they already have children then they will moved to the house. Don't regret buying a house even though you really need money but don't sell it cheaply.

If this is being asked with a person on the street without shelter will explain about the importance of having a house. Agreed, it is a forced saving but in some means it is a lifetime requirment.

House never brings money than allowing us to spend. So, we need to plan and build it in way to reduce the spending and get the utmost space and basic facilities. Building house for status and for show-off should be avoided.

I remember a thread from a week ago where a user needed advise on either to sell 2 unused houses he owns, probably inherited but have refused to add in value for some bitcoin investment. Clearly, houses are a real estate but in remote areas, it's often undervalued but that doesn't mean there isn't a chance of appreciation. It often depends on the developments that comes knocking in the region.

Haven't said that, houses could either earn you money, save you some money but also comes with some expenses. You've got your utility bills, maintenance and other day to day runnings of the house to care about.

Buying a house is not a bad investment, I did that back in the day, that’s the luckiest thing I ever did, buying a house and a car, I own those two and have no debt on them, the rest of it was easier because the income I make goes to regular life stuff.

Sometimes bigger expenses happen, like your PC broke down so you buy a new one, or your tooth is aching so you get it pulled, or you have something as simple as a flu or hernia and go to doctor and get it checked and pay for it, or you need a new washing machine. All these are "unexpected" so to speak, but the rest is easy to handle with one salary as long as you have a house, that’s the key, you should always own your own house that you live in if you can.

Don't sell your house and lot if it is at a lower price than when you bought them, since the price of the land or house will increase year by year. Though I am not sure what your purpose is when you first purchase it—is it for profit or so that you can live in your house and lot in the future? I suggest that you need to wait a few more years if you really want to sell it. I am sure the buyer will find you, so let them come for you.

Home or land investment is certainly the safest compared to others, but the thing that makes us always think is not easy to sell a house or land, I want to sell the house I bought 5 years ago and offers from buyers are lower than I bought, And this is a concern that saving investment must think long -term.

Historically, a house has always been a great investment, though. As long as you have the land deed. Especially in smaller, developed countries where the cost of land is going up by ridiculous percentages every year. For example, Japan.

Although worldwide, having a house and/or land is still a good investment for the future, seeing as the cost goes up the more people we have on earth. Unless in places where wars are waged. Ukraine is going to be prime investment for anyone looking to invest in cheap real estate.

One never knows when a war starts in ones own country. Your real estate investment might become nothing but rubble in a year or even a day. And your deeds become worthless toilet paper if the new occupiers say so.

Bitcoin > Land/House

Over the last 20-30 years it is hard to find a long drop in house prices but you should really think of a house purchase as a separate category of investment. It's a place where you can live in privacy and comfort, a place which you are paying off and not paying off for someone else in the form of rent, plus many other benefits. Once it's paid off you just have to cover utilities and taxes which are minimal in comparison to the cost of purchase. There are so many advantages, but the price has steadily ticked up over time and should be thought of as an added bonus. It is highly dependent on where you live and the current situation, because many flats struggled to sell in the pandemic with no outside space to use.

Facing family life, home is a basic need that must be met, whereas currently many young people in my country are more fulfilling lifestyle needs, such as cars and hanging out in cafes. even though they don't have a house for the future, so the longer it takes, the more difficult it will be to get a house because the price keeps going up, while the longer the car, the lower the price. This kind of basic thinking is something that young people in my country don't understand, let alone think about investing in property

Have you been to Dubai?
There still need to find people who speak Arabic. The main language of communication is English. There are also a lot of English standards for construction and other industries. Even local residents, who have the opportunity, leave in the summer for other regions or countries. And in winter it is very nice.

I think the house is the source of all things about ourselves, it is obligatory for us to make the house the best and most pleasant place, many brilliant ideas to the source of wealth and savings that can be done at home, unfortunately most people want to leave home and feel like a house like a prison.

Dubai property offer advertisements are very good and promising, if we have a skill to market then Dubai is the best place to make money, I also have friends who can master the language (Arabic, English and French) he works in a tourist company and when he is off he also guides tours so as to get a large additional income.

Investing in real estate sometimes helps out, but only sometimes. A friend of mine decided to start a business in Dubai a year ago and bought an apartment there for about $500,000 in installments for a year. His business failed and he lost over $200,000 in a year because living in Dubai is expensive.
He decided to leave and other people buy his apartment for $800,000. Profit.

This is a mistake made by the girl, for not thinking about the impact of a mortgage loan, that's why buying a house using this method is very inappropriate.

The next question is why did he leave the country, whether because he failed to cover the mortgage loan or for other reasons.

Along with the times, apartments are not only used for living, but can also be used for work. For whatever reason, I don't think this girl is right to buy the house.

Money is about survivalism for woman, but money is about just sex and love for man. All due to gender and human biological nature, when you send woman to jungle alone she may not survive, but man in jungle alone always can survive. Money give the woman the privilege to practically self-entitled and to be total parasitism and a complete provider hunter also accept zero responsibility. Money can make woman rich in a jungle, but money can’t make a man rich in a jungle, it’s all based on social judgement, as usual social pre-judge on patriarchy and gynaecentric which is highly status quo and prejudice, the reason society has evolved to what’s today hypergamy orientated is also a result of history that old boomer come from the horrors of world wars, they’re involuntarily working toward on everything to fix that and try to avoid wars as much as they could, although at the expense of having to prejudge on gender inequality and completely disregard a certain gender of their monetary wealth. Btw horny guy pay the price still applied and stand strong in the society today, laws is absolute and going against the laws risk yourselves on getting ass-raped and totally humiliated and rejected like a toy. But what can you do in a society today where your hard work would never be recognised and appreciated, but gender based manipulation laws forcing you at gun point, all in the name of rejecting history repeating it on full out wars due to gender and jungle survival manmade issues, meritocracy is never a rewarding life goal in the beginning, the horrors of wars taught us meritocracy lead to social unrest and lead to protest and lead to civil wars and lead to full out wars. Keeping everyone happy is one hell of thing to handle, however to avoid wars and live a life in peace, we have no choice but to opt for parasitism, where man has to be the breadwinner who take all gender responsibility, make all the money and send them all to the housewife to take care of all financial obligations in a family, while a wife has the role of just take care of children and making gossip with another wife and badmouthing and salty about what a horrible unromantic her husband has been after the marriage, btw who am I to judge on something so blatantly unequal at the first place? Wars come at a price, peace also come at a price, gender is a god generated rules that we can’t change it to fix the issues, we can’t blame the god for making so much flaws and differences on a human all just in between the thin line of man and woman. Too bad this society you want to be rich, you must follow what the society working toward on the future. Society today encouraging parasitism, you become so filthy rich naturally by being total shameless parasite despite you do absolutely nothing in life but also contribute nothing but destruction, is it for the greater good or bad? There isn’t one answer to fix all human social and economic wants and needs, one gender has a totally different needs than the other gender, with lgbt third gender add into the mix it would just make the entire ordeal much more complex and to the worse, to make matter the worse when one gender is getting mistreated and discriminated, war and declaration is imminent, unrest and protest follows, and then civil war. Btw just send your kid to the school and train them to be responsible grown up man and help build the social to the better, but don’t expect the reward in term of monetary value or even social stand, hardworking guy must always be mistreated and they can’t have all cakes and eat them, must cut the cakes into small pieces and distributed to the other parasites although you may unwilling to do so, but what about the house, why the house is always win, because the gods has decide to generate the absolute rules?

I know a girl who moved into a new apartment at the beginning of 2020.  The apartment was purchased as a property with a mortgage loan.  The girl was very happy with the purchased apartment and invested money in its repair and improvement.  

However, now she already lives in another country.  She did not manage to live in her own apartment.  Now the world has become very unstable.

On the other hand, if you work remotely, then a house or apartment for you is not only housing, but also a work office.  This makes the investment in buying your own home or apartment more valuable.

A house (real estate) is, in fact, just a concrete box.  

The price of this concrete box can drop sharply and heavily.  A war may break out in the country and the house may be destroyed.  You may have to urgently flee abroad and sell your house for next to nothing.  

In addition, it is very important to understand that you do not own property, but the right to property.

Legislation can be changed and your home will be confiscated.  The tax on and property payable can skyrocket.  The price of utilities can also rise very strongly.  

A home is not always a great investment.

If you would need to ask, what stage we are having right now today. I had observed first handed experience the situation from the 2007-2009, from the feeling alone I can tell the people today are getting a bit savage and aggressive, from my memory that I can recall is people are kinda aggressive priori to 2007, and they peak on 2008 when thing begin to breaking and massive layoff and also a lot of business goes broke and closure, by 2009 I’m reading a lot of people commit mass suicide, I mean it people killing themselves and en mass killing it’s not joking btw. From the feeling today and the people I observe and also the recent Meta layoff 11k employee and major tech layoff, I believe we are yet to reach the reminiscence of the 2008, we haven’t peak the market cycle yet, it might take much longer, I want to see people dead, not that I’m evil, it’s what I recall in 2008, you might want to read the book written by Robert Kiyosaki I think he record and describe the atmospheric pretty concise, not very best but I believe he is the only one person actually trying to record every piece of the detail in a book, by the time a lot of people are totally unaware of what future they’re facing and doing every survival of the fittest living, until they burn out and they finally collapse and take their own life, let’s wait and see if the history does repeat itself, I’m not going to advice anyone to make any money decision right now, especially on house investment, the market might shock you unexpectedly, and you would be the one commit suicide when you’re found yourselves in a dead end debt burden, so proceed diligently and extremely careful, it’s not fun to live in society today, the stress and pressure level is overwhelming even to me, I’m starting to get some nerve from the atmospheric right now, it’s frightening and I’m not entirely sure which nation would be the one to fall just like the reminisce of 2008, is it very bad? Let’s see the dead toll will be record high, much higher than the 2008 equivalent.