Actually? I bought this house when I came home from my first tour in 1971. Long and paid off. I went back for another tour and rented it to a couple for years and when I finally came home, I just rented someplace else for a while till the couple that lived in my house split up and I moved back in. I will admit that I'm looking at other houses at this time for investments but I guess I'm one of the rare ones that's long and paid the house off and still live here.
This post was edited by Benedict Arnold at February 26, 2017 12:21 PM MST
I sold the house I had owned (no mortgage) for 31 years. I bought (no mortgage) a condo on the Gulf. I am another one of the "rare ones."
This post was edited by Thriftymaid at February 27, 2017 6:20 AM MST
Of course it is. Mortgage rates are so low I don't' know why anyone is boo hoo hooing about it. I sold houses when mortgage rates were 20%. People were still buying houses with some creative financing options like balloon mortgages. If you have a decent stable job there is no reason to keep renting.
It's the house flippers and the idea of buying a property for now instead of sowing roots that made it so difficult. There is too much development for the sake of hiking up property values. Property is encouraged to change hands too much just so the third parties can get a slice of the transactions.
Buying an investment property here and there and flipping it here and there is a good thing but it's gotten out of control these days with people who just use their big pockets to out bid anyone else and buying up the affordable property just to raise it's value and gentrify so it's harder to obtain for the small people.
Element 99 