Imagine the deals 10 years ago, there were 25k condos. Oh well, next lifetime.
I did figure out the system pretty early but also wish I would have even quicker but I bet even Bill Gates has regrets.
That’s why I constantly discuss with my kids about how to invest in real estate as far as timing the market and negotiating. Tell them not to trust the media and who is behind it and how the world is fixed. I remind them that cavemen would merely make their home and chase a wooly mammoth for a few hours and eat for a month, but now people pay for the rest of their lives for a little piece of land & work all week to eat leaves like Kale. And how you are made to work and someone gets a chunk of your earnings and how your house is never yours, they want a piece of that every year. If you include gas, electric, tx, licenses water etc, you’re left with 15%
I just basically tell them that we are slaves and I instruct them on how to minimize that effect.
The more you know early on the better.
Imagine the deals 10 years ago, there were 25k condos. Oh well, next lifetime.
Now people pay for the rest of their lives for a little piece of land & work all week to eat leaves like Kale. And how you are made to work and someone gets a chunk of your earnings and how your house is never yours, they want a piece of that every year. If you include gas, electric, tx, licenses water etc, you’re left with 15%
I just basically tell them that we are slaves ...
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@shilllihs,
Glad to hear you're telling your kids all this in advance ...
Last week on our neighborhood listserve, a woman was complaining about not being able to get her property DEVALUED.
Apparently, she thought the TAXES were too high and wanted the city to undervalue her property to lower her RE tax.
I asked her if she'd noticed on the new statements we were being taxed TWICE.
The old statement used to just have a box that said: "amount due" and you'd mail in a check.
Now, everything is done online. The online menu says: "amount due - TAX", then, when you click next, it says:
"amount due - TAX"
Tax: $XXXXX
Total:
I brought this to my neighbor's attention. The woman had NO CLUE!
Here's part of here response ...
"My mortgage escrow pays my taxes so I never see the actual payment screen."
Sad. Most peeps are having the wool pulled over their eyes on a daily basis and don't know it.
We're all lemmings -- and you know what lemmings do.
My humble opinion for avoiding Pigs: I used to have 2 big problems:
1- discipline of exiting at the "stops" ( « A long term trade is a Short term trade gone wrong»)
2- overtrading
I solved no.1!! ( Inspired by Chuck Hughes's style)
-A- only enter long in liquid-optionable- stocks in which 1 Mo EMA > 10 mo EMA and the 10 moEMA is trending up
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Thank you, datu.
It's a good post.
I'm not into options so I'm not able to fully appreciate other parts of your post.
On March 19th I wrote, "The 10-Year Yield is up over 200% since August. Interest rates rising with wages remaining stagnant will kill the market eventually. Inflation followed by all the bubbles popping = deflation = interest rates lower=start the inflationary cycle again (rinse and repeat). My house goes on the market on Wednesday. My house has appreciated over 82% since May of 2013. I'm locking in my profits. I think the housing market can still go higher this year and maybe early into next year. We will see. Even so, I'm getting out now. This is how the wealthy become wealthier. They have the cash to buy assets at a significant discount capitalizing on others' misfortunes. I do not want to wait 4-6 years for the housing market to recover to get to the same point I'm at now."
My house was listed Tuesday around 11:00 am PST. I accepted an offer of 16.4% above the list price. Cash Saturday night, no financing, no appraisal, they accepted my inspection, 5% earnest money, closing within two weeks. Had 46 showings and multiple offers. This is why I think we are close to a top in the housing market. When I say close, I think less than a year left.
Has anyone looked for a pattern as far as timing when real estate will collapse as compared to the stock market. I think it’s been random over the years.
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