Originally Posted by
tsquare
Yeah.. I played by the rules too. I am ready to start taking now though. Lord knows I have paid enough into the system, and I am gonna at least get my investment back before it is all means tested. I'm thinking to get as many credit cards as I can, take the maximum cash out of each one, default and move to Argentina. Come get it suckers.....
Dude;
You are preaching to the choir. I have sold 1 house since 2008. I still have 13 in inventory. The good news is that all they eat is property tax, insurance, lawn maintenance and electricity. The bad news is that I am too chicken to be a large scale landlord due to the threat of meth labs. I just finally decided to be the bank and carry the mortgages for any qualified buyers.
The problem with that is there are no qualified buyers. Gather 100 working people together and fewer than 10 of them can come up with 20% down by pooling all of their assets. When you are in the situation I am in, it is really, really clear how few people have any money.
There are certainly areas where housing has seen a rebound. I went to the beach last month to make an offer on another house. The accepted offer was $90K higher than the asking price. IMO, those people were just locking in cheap money (3%).
So...I say again...if you are planning on a big ticket item purchase, lock down your interest rate sooner rather than later.