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> To me, this is absurd. This is a human rights issue (homelessness is growing by a large amount). This is also a national security issue; this speculation cann
by notyourwork 9y ago
> To me, this is absurd. This is a human rights issue (homelessness is growing by a large amount). This is also a national security issue; this speculation cannot happen forever. Our economy will very likely crash when this speculation is no longer profitable.
This is my biggest concern with wanting to dip my families toes into their first home purchase. We lived in Seattle last few years and the market is stupid, we recently moved to Bay area and this market is even more silly. (I know we pick some great places for first time home buyer but careers and education take you where they take you, that's another discussion.)
- beebmam 9y agoYep, your career really does take you where it takes you. I'm in the same boat. I've lived here for 5 years and have been saving, was getting pretty close to being able to afford a house, and the last year or so has seen such a huge increase in home prices and a decrease in availability that I've given up hope.
- mistermann 9y agoThe funny thing is, if you grit your teeth and bought recently or even now, it's possible you could retire on the capital gains in <<< 10 years. Or you could be bankrupt. Either one seems equally possible to me.
- sushisource 9y agoWell, only if you were willing to move to a much, much cheaper area to realize those gains.
- mistermann 9y agoNot necessarily, if your house is going up $10k per month you could live on HELOCs. Easily possible in the last decade or so in Vancouver.