A lot of older people don't want the burden of the maintenance that ownership brings.
Another article showing concern in the housing market- yet the author may have lacked critical thinking
- Thread starter GON
- Start date
That's why they live in condos, apartments, and mobile home parks that do outside maintenance. I don't see them renting suburban SFH.
But many older retired people don't like sharing a common wall with their neighbors. So a home is the better, albeit more expensive choice for them.
A good read on the top housing markets in the US and the latest Case-Shiller Home Price Index.
https://wolfstreet.com/2023/07/25/t...y-increases-are-just-seasonal-robert-shiller/
https://wolfstreet.com/2023/07/25/t...y-increases-are-just-seasonal-robert-shiller/
GON
$150 Site Donor 2025
PT,
I have read this and like articles in the past few weeks. I see a huge amount of text that means very little and provided an erroneous message.
One was Chicago and Cleveland and the upper Midwest are currently the hottest housing market in the USA, with Chicago region up 4.6%. That means nothing as Illinois is the lowest cost housing market in the USA, so a 4.6% increase in the bottom of the barrel means much of nothing. In Phoenix area, a properly priced home will contract in five days or less after listing. In Chicago area, a properly priced home may not even get a contract.
I think the big message in housing is the change in the buying power of the USD. Add to that the lack of new homes being built, and people unwilling to sell their current home because they have a sub three percent interest rate. Housing is not falling now or ever. The buying power of the USD is the reason housing prices will not fall.
I nominate GON for President of Housing & Urban Development! 
Because this always ends well:
https://apnews.com/article/personal...les-business-223a7be57d988912ee2cbb9b46096e34
https://apnews.com/article/personal...les-business-223a7be57d988912ee2cbb9b46096e34
We just moved from the state ranked #2 a few months back to the state ranked #4 and I can tell you the coastal area of #4 is on fire with new planned communities and construction. I cant keep track of all the clearing taking place on my daily drives.
Interestingly I took a STRONG pass on state #1 last year, had contracts on a new construction that I never signed and glad we didnt. Very happy with our choice in NC.
Feel very fortunate to have been raised and live on the east coast (granted decades later I escaped NY) . This is not to say others feel differently about their regions.
https://www.cnbc.com/2023/07/19/these-10-states-are-americas-strongest-housing-markets.html
Interestingly I took a STRONG pass on state #1 last year, had contracts on a new construction that I never signed and glad we didnt. Very happy with our choice in NC.
Feel very fortunate to have been raised and live on the east coast (granted decades later I escaped NY) . This is not to say others feel differently about their regions.
https://www.cnbc.com/2023/07/19/these-10-states-are-americas-strongest-housing-markets.html
I would say that is what investing is all about. Take profits is that is the goal.
GON
$150 Site Donor 2025
Way too many congressional districts/voters in Florida, California, etc- for the government not to take from others to keep the insurance market available in Florida, California, etc.
The people of Kansas, Kentucky, Wisconsin, Iowa, eta will subsidize the homeowners in Florida, California etc to make sure the homeowners can purchase insurance in Florida, California, etc.
Wait until he finds out the $90,000 truck he just bought to put in the garage, is now worth $50,000.
GON
$150 Site Donor 2025
His 890k home has a garage big enough to fit a 3/4 ton truck? I find a lot of mcmansions not able to fit a 3/4 ton truck.
What to do with this house? Rent at negative cash flow or sell for a big loss?
I like it but we need one more: median monthly mortgage interest/ real median monthly household income. I haven’t read all 33 pages of posts so forgive me if it’s out there.
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