4 ms·

I really don't give a shit about the financial value of my home to someone else. Sure, my mortgage is calculated on it and I'll be paying that for the rest of m

I really don't give a shit about the financial value of my home to someone else. Sure, my mortgage is calculated on it and I'll be paying that for the rest of my life but the true "value" of my home is the quality of life my family and I can enjoy here. What you're talking about is how much money some investor can make off of the desire of people to have this quality of life value for themselves. And quite honestly it's incredibly sickening that our world works that way.

dudul 2y ago
The only reason I care about the value of my house is to know what I can get out of it if i need to move. If my house goes down in value but the trend is roughly general then I don't care indeed.
- s1artibartfast 2y ago
  This position makes sense if you own outright, but changes significantly if you have a significant mortgage based on the purchase price.
- deleted 2y ago
  [deleted]
fifticon 2y ago
unfortunately this cannot be viewed in isolation. For example, a drop in house prices may cause people with a mortgage to become technically or practically insolvent, as happened in japan. So, for better or worse, if you are tied up in a house, your fate may be tied to the future value of that house. but in principle, i too would like to agree :-/
s1artibartfast 2y ago
I think you are an outlier if resale value doesnt matter. It matters to me for many reasons I doubt you find sickening or sinister. It matters because my family might want or need to move for work. It also forms a major part of my retirement, and how I will feed and take care of myself in advanced age It makes perfect sense that it has financial value to someone else, because it would take a tremendous amount of material and labor to re-create if it burned down.
- fragmede 2y ago
  what part of your house are you going to eat in your advanced age? if you sell your house, you no longer have a house. What is your plan? Sell your house for money, move to somewhere cheaper, and use that money to live? What will you do when housing is too expensive elsewhere as well? Is uprooting your life near the end when you need the most care really the ultimate plan?
  - s1artibartfast 2y ago
    That is a pretty normal cycle for most people and it makes perfect sense. You buy a house, use it to save on rent and protect your retirement from inflation. Come to old age, you reverse mortgage or sell and go back to renting. Many people need to downsize anyways as their energy and capability decreases. It is pretty unrealistic to expect that everyone can die without breaking into what is their largest expense in life.
    - fragmede 2y ago
      It's pretty normal, but I don't agree it makes sense. You've spent your whole life in Anytown, USA, and the plan is to determine a birthday at which to sell your home and move away from all your friends to Florida? Or maybe they move with you? What about setting down roots and living in the same house from generation to generation. I mean, to each their own, but housing as an investment is what leads to this "logical" conclusion. If housing merely tracked inflation then we'd have a different situation.
sys_64738 2y ago
Not caring is foolish. If you lose your job and are foreclosed on then you’ll be bankrupt.
- r0ckarong 2y ago
  And if I live in a rented place and lose my job I'm just as bankrupt, aren't I?

dudul 2y ago

The only reason I care about the value of my house is to know what I can get out of it if i need to move. If my house goes down in value but the trend is roughly general then I don't care indeed.

s1artibartfast 2y ago
This position makes sense if you own outright, but changes significantly if you have a significant mortgage based on the purchase price.
deleted 2y ago
[deleted]

fifticon 2y ago

unfortunately this cannot be viewed in isolation. For example, a drop in house prices may cause people with a mortgage to become technically or practically insolvent, as happened in japan. So, for better or worse, if you are tied up in a house, your fate may be tied to the future value of that house. but in principle, i too would like to agree :-/

s1artibartfast 2y ago

I think you are an outlier if resale value doesnt matter. It matters to me for many reasons I doubt you find sickening or sinister. It matters because my family might want or need to move for work. It also forms a major part of my retirement, and how I will feed and take care of myself in advanced age It makes perfect sense that it has financial value to someone else, because it would take a tremendous amount of material and labor to re-create if it burned down.

fragmede 2y ago
what part of your house are you going to eat in your advanced age? if you sell your house, you no longer have a house. What is your plan? Sell your house for money, move to somewhere cheaper, and use that money to live? What will you do when housing is too expensive elsewhere as well? Is uprooting your life near the end when you need the most care really the ultimate plan?
- s1artibartfast 2y ago
  That is a pretty normal cycle for most people and it makes perfect sense. You buy a house, use it to save on rent and protect your retirement from inflation. Come to old age, you reverse mortgage or sell and go back to renting. Many people need to downsize anyways as their energy and capability decreases. It is pretty unrealistic to expect that everyone can die without breaking into what is their largest expense in life.
  - fragmede 2y ago
    It's pretty normal, but I don't agree it makes sense. You've spent your whole life in Anytown, USA, and the plan is to determine a birthday at which to sell your home and move away from all your friends to Florida? Or maybe they move with you? What about setting down roots and living in the same house from generation to generation. I mean, to each their own, but housing as an investment is what leads to this "logical" conclusion. If housing merely tracked inflation then we'd have a different situation.

sys_64738 2y ago

Not caring is foolish. If you lose your job and are foreclosed on then you’ll be bankrupt.

r0ckarong 2y ago
And if I live in a rented place and lose my job I'm just as bankrupt, aren't I?