Owning real estate in America = Overrated?

[NorthAmericanguy]

Most folks i know who own property have to work their assess off to pay the monthly mortgage on their property, which means they are enslaved to 9 to 5 jobs and can't afford to explore the world and find themselves because well, they have to work.....

yes owning a house or property is great especially if you have wife and kids, but most of us in this forum are single nomads, we do not want to get married, get a 9 to 5 job and have two kids.... so is it even worth investing into property?

what are your plans as far as your golden years???

Right now, things are interesting. 30-40 years ago nobody would think that so many people would be single either because of divorce, or because of a planed life of remaining single due to movements such as MGTOW as it continues to grow.

The problem is that our housing infustructure is mainly built around families. Even your average 3 bed 1 bath home built in the 20s was still built for a family of 4 so if you're single and plan to stay that way it's really a waste to buy a home all for yourself unless you rent out the rooms but that's not so easy and being a landlord isn't for everyone.

Condos use to be great for a single person, but over the years with the HOA going up in fees and all the horror stories I have heard about HOA a condo isn't a good alternative anymore.

What I plan to do is rent and invest the difference in the stock market.

[NorthAmericanguy]

Owning real estate is extremely over rated and a waste of money. During the housing crash, real estate went down in value an average of 34%, this was more than it did during the great depression when it went down in value 32%.

There are still millions of Americans who are underwater on their mortgage. This means they can't move, because they can't afford to sell their place and have to wait until their property goes up more in value.

Even with all the talk about how low mortgage rates are now, it's still cheaper to rent. With renting, you don't have to pay any real estate taxes, homeowner association or do any maintenance. Also with renting, you don't have to put down a down payment.

A 30 year mortgage is a trap and keeps you enslaved. Renting is a far better option than owning, especially if you are single. I wish I rented instead of buying a townhouse. I put 20% down and I am still underwater six and a half years after I bought my place.

I dated a woman who bought a home in 2007 for 120k. Today that home is worth 80k and will drop more because the whole area is being replaced with ghetto section 8 people who are moving in. She was too hasty to buy a home fresh out of college to appear to be "successful" so now she is regretting her decision.

When you factor in closing cost, home repairs, mortgage interest, insurance, and property taxes that keep going up the whole house is a money pit thus far even 8 years later. It's just sad, she's paying good money that's going down the drain to live in a neighborhood that is slowly turning into a ghetto violent dump which is funny because her real estate agent told her it was a good area.

[gsjackson]

With real estate agents every area is a good area, and it's always a good time to buy. They have a bout as much credibility as a congressperson.

[Cornfed]

With the advent of section ape and rapefugee resettlement, some kind of mobile option such as a trailer or houseboat might be in order.

[Ghost]

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[Eric]

So much of what Starchild says is correct. Even though he doesn't live here - what he says is uncannily right. I don't know if he's been here, but some of the stuff he says may sound "out there", but he's right in that there is an energy in America, over America which is just like a black hole. What's the point of buying anything, here? It's so empty. I don't feel any real connection to this place. Beside from the energy, anytime you try to make a connection with somebody - the grass is uprooted from the base so many times; people keep their distance. People do everything here like they are shopping - shopping for the next, so they are flaky, superficial. This is also the reason for the. It's too material - baseless/ shifting...unsteady. That's why people here are so crazy acting. I feel the ones who are manage to be stable & steady have some kind of emotional shut down where they are not really happy, but have forced themselves into this plastic box-of-control, that they have to do to maintain their center of gravity in an unnatural, shifting environment. It's why you never get a sense of wholeness or, rest, here. This creates an atmosphere of distrust - this translates into the business world. Realtors will rip you off, lie to you.
What's the point of buying a box where you'll be unhappy in it. I don't know. I try to be happy here, but it just seems 'impossible' the ingredients aren't here for it to make it work. It's very simple. You can keep trying and, maybe you'll make something of it. But it's hard. America is just a shopping spree.
I sat down next to a guy in a bar who seemed unhappy/shy or nervous...but definitely unhappy. He was alone, not talking to anyone. I could tell he was socially awkward - although trying to be cool. It turns out he is a millionaire, went to an Ivy League, owns a bunch of stuff. But it didn't make him happy!! He is not happy. ...
Anyways,
I've just got my new passport in the mail. Now I can send it off to get my visa. I can hopefully start my transition now into a job in China, overseas. It's going to be big. I have to get storage, work out some finances...etc., before I do that, clear up a rental issue. It seems it's hardest just separating yourself from here.
America is the easiest country to get into and it's the hardest to leave.

[Pinayhunter]

My parents bought me a house recently (a nice one in a rapidly growing market), so I'm extremely lucky in that regard. Not sure what prompted them. Perhaps they want me to find a girlfriend before they die and maybe even produce grandkids.

It's not the p***y magnet a lot of people would think though. I'm just as incel as I always was. Girls just aren't that impressed by home ownership.

[ezinho]

It's not the p***y magnet a lot of people would think though. I'm just as incel as I always was. Girls just aren't that impressed by home ownership.

Well, of course not, that makes you a responsible member of society, they don't want that.

Being a taxpaying, property-owning man in America doesn't get you much, if any, respect.

Having said that, I still think it's a good idea to own a piece of property somewhere, a small condo or townhouse, maybe even a small house on some land, but that's getting hard to find nowadays. A single guy that's MGTOW shouldn't need more than 800-1000 sq feet or so, maybe even smaller with the right floor plan. It's good to have a "home base" so to speak that's yours. With a condo you can travel for month's on end and the HOA will take care of the outside of the property, a good set up for perpetual travelers.

But I agree that investing in real estate, in terms of buying multiple properties and being a landlord, is not worth it. It's just another shitty full time job. Plenty of those out there already.

[Teal Lantern]

My parents bought me a house recently (a nice one in a rapidly growing market), so I'm extremely lucky in that regard. Not sure what prompted them. Perhaps they want me to find a girlfriend before they die and maybe even produce grandkids.

Congrats.

It's not the p***y magnet a lot of people would think though. I'm just as incel as I always was. Girls just aren't that impressed by home ownership.

If your house WERE a poosy magnet, the next step would be poosy plotting to move in, keep the house and get rid of the icky guy it came with. As the market grows, you'll catch their eye. Be careful out there.

[HappyGuy]

Jul 13, 2017
Man being booted off his own property - Denver

[jamesbond]

Jul 13, 2017
Man being booted off his own property - Denver

I feel bad for the guy.

[CannedHam]

Real estate prices continue to climb in desirable areas thanks to a housing shortage. NIMBYs, increased cost of labor and building materials, and high permit fees/taxes have made it impossible to build anything except high end homes. If you're looking at staying in one area for 15-20 years it may not be the worst decision to buy a small townhouse or condo as rents are also increasing more than inflation.

[statnerd]

As far as investing in houses to rent out goes, I've heard of too many horror stories about tenants not paying and trashing the place before being evicted. My dad rented out the house which I had lived in for the first few years of my life. The first two tenants were great and always paid on time. His third tenant always paid late and then finally stopped paying altogether. When my dad had the tenant removed, he went into the house and found big holes knocked in the walls, buckets of paint poured on the floors, lighting fixtures ripped out of the walls, one of the toilets had a big crack in it, among other damage. After spending over $10,000 on repairs, he sold the house and vowed never to be a landlord again.

[Moretorque]

This whole entire thing is a shit show,

[gsjackson]

As far as investing in houses to rent out goes, I've heard of too many horror stories about tenants not paying and trashing the place before being evicted. My dad rented out the house which I had lived in for the first few years of my life. The first two tenants were great and always paid on time. His third tenant always paid late and then finally stopped paying altogether. When my dad had the tenant removed, he went into the house and found big holes knocked in the walls, buckets of paint poured on the floors, lighting fixtures ripped out of the walls, one of the toilets had a big crack in it, among other damage. After spending over $10,000 on repairs, he sold the house and vowed never to be a landlord again.

I used to own some rental units. Would never do it again. The property managers can be as big a headache as the tenants. Total crap shoot.