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Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

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I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

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[-] Haphazard9479@lemm.ee -1 points 1 year ago

Houses are not wealth generating. They are a long term investment. So long that the value of the dollar declines so much that it makes you think that your wealth has increased. At best, buying a house is a hedge against inflation.

Buy a house when you feel like its a good decision for you and your family. Until that day just save your money and stack sats.

[-] BolexForSoup@kbin.social 4 points 1 year ago* (last edited 1 year ago)

asdfasfsadf

[-] Haphazard9479@lemm.ee 1 points 1 year ago

A house is a home for many. For others, a house is an investment. Betting on the value of your house to increase is the same as betting on the devaluation of the dollar. A house holds its value but doesnt increase. A house degrades and cost money to keep in good, usable shape. The reason you can sell a house for more than you paid for it is the value of the dollar.

[-] BolexForSoup@kbin.social 1 points 1 year ago* (last edited 1 year ago)

asdfasfasdf

[-] Honytawk@lemmy.zip 1 points 1 year ago

Houses are a human necessity. Not an investment.

My family can't decide when to buy a house, because we need one to live in. Can't just keep em on the streets because the market isn't favourable.

[-] Haphazard9479@lemm.ee 1 points 1 year ago

This is my point. You buy a house when its right for your family, not when you think the market is favorable.

this post was submitted on 29 Sep 2023

360 points (95.2% liked)

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