Maybe millionaires are opting to wait until the long-deferred financial reckoning day lays waste to the Fed’s asset bubble & Ponzi markets, then will swoop in to buy after Housing Bubble 2.0 implodes like a supernova
https://i.redd.it/jvzml75vx4of1.jpeg
Posted by Boo_Randy_II
8 Comments
We sold last year and switched to renting to increase cash flow and to free up money to invest. So far so good, also home prices have decoupled in a lot of areas. Most price to rent ratios are now heavily skewed to renters.
Yes, I know people that sold their houses to rent so they could be “millionaires” 5 years ago. It’s not working out great for them. Homes keep inflating and their rent is as much (or more) as their mortgage. Don’t do this unless you have a specific plan like retirement.
Keep waiting, bubble will happen any day now
rather rent than maintain property
We could make stuff up.. or we could read the article.
Flexibility, liquidity, better investments available in the market, and of course uncertainty.
Any evidence for your theory or nah just vibes
Hey this is me!
I don’t like yard work, or dealing with maintenance issues. A nice apartment handles basically everything for me except cleaning. They even pick up our trash 5 days a week, I just have to put the trash can in the hall outside my door. It isnt a crazy expensive luxury apt either, I lived in a similar one in 2020 before GameStop turned 30k into, well a lot.
Home prices are stagnant and dropping, while at massively inflated values. Meanwhile the market has been moving up and the dollar is down 10%. Owning a house has been a bloodbath this year even if people don’t full realize it. Investing would have been a smarter use of the money.
Wife wants a house and we will get one sooner or later, but I’m enjoying this for the time being
It’s possible. Or it could also be that the upkeep of a home is starting to get too expensive and so renting is cheaper.