It is currently a sellers market in most cases since we are in the bubble but if you have the option you should try to get your house sold now at high prices and if you can rentfor cheap and then rebuy when the bubble pops. This is extremely hard for most people to pull off but just know that when the bubble pops your house will be worth the average of what every other house with the same BR and BA in your area but also you will be able to buy homes at lower prices so in effect there is no huge net loss if selling and rebuying. The issue will be you will be paying a mortgage on a home that is not valued at what you bought it for so if you have a high rate try to get it lower asap. When the bubble pops it will be a buyers market as the cause will be the credit bubble. In that scenario many people will be forced to sell their homes at increasingly lower prices to get out of their mortgages and you will see many short sales (pre-foreclosures) and foreclosures as people lose income and simply stop paying their mortgages. Why pay $2,000/mo for a home worth less than $200k? This won't affect all people but it will also make the rental market go up, way up, as people look to rent instead of buy, as the credit bubble will make getting a loan more difficult especially as people are losing work. So if you have a home with an apartment to rent you will be in a good position which is what I am looking to do. Passive income is always a great thing especially if you can find a reliable tenant that will pay their rent every month. That will help you pay your mortgage during the best and worst of times. Basically it will be a repeat if not worse of '07/'08 but with the added risk of the USD losing buying power and a risk of hyperinflation so everyone should think about putting money ($USD) into something else that will go up as the Dollar goes down such as Gokd and Silver (my choice), and crypto which will go up inverse to the dollar. Silver is a great buy and has risen recently. Gold still has potential. Bitcoin can go a lot higher especially if the dollar collapses and people in the USA are using it more as a means to save their assets. Buy Gold and Silver now while they are still cheap. In a USD decline you can see Gold go up to $5,000/oz and I can envision Silver at ~$200/oz which is 10X prices now. If you have an extra $10k in a retirement account you may want to take the penalty and get your hands on some metals especially if goes up to $100k. But right now house prices are high, too high as there are less homes being sold and demand drives prices. In my opinion the revaluation of homes being worth what they were pre-2007 was a con on the public to make them feel like the recession didn't hurt long term just as I believe the stock market and retirement accounts have likewise rebounded but if the USD loses its buying power and we see hyperinflation or any meaningful inflationary pattern prices will actually go up but your dollar will be worth a lot less meaning hopefully everything you own is not dollar bills. That is why I stack silver ounces and have gold and cryptocurrency. Bitcoin especially will do well and Silver and I think STEEM too is a great buy right now as I think if this scenario happens people will look to decentralized everything and DTube, Steemit and cryptocurrencies will be a popular alternative to the mainstream central banks, central internet and central news sources. It could be a paradigm shift so ready yourself for the storm.
It is currently a sellers market in most cases since we are in the bubble but if you have the option you should try to get your house sold now at high prices and if you can rentfor cheap and then rebuy when the bubble pops. This is extremely hard for most people to pull off but just know that when the bubble pops your house will be worth the average of what every other house with the same BR and BA in your area but also you will be able to buy homes at lower prices so in effect there is no huge net loss if selling and rebuying. The issue will be you will be paying a mortgage on a home that is not valued at what you bought it for so if you have a high rate try to get it lower asap. When the bubble pops it will be a buyers market as the cause will be the credit bubble. In that scenario many people will be forced to sell their homes at increasingly lower prices to get out of their mortgages and you will see many short sales (pre-foreclosures) and foreclosures as people lose income and simply stop paying their mortgages. Why pay $2,000/mo for a home worth less than $200k? This won't affect all people but it will also make the rental market go up, way up, as people look to rent instead of buy, as the credit bubble will make getting a loan more difficult especially as people are losing work. So if you have a home with an apartment to rent you will be in a good position which is what I am looking to do. Passive income is always a great thing especially if you can find a reliable tenant that will pay their rent every month. That will help you pay your mortgage during the best and worst of times. Basically it will be a repeat if not worse of '07/'08 but with the added risk of the USD losing buying power and a risk of hyperinflation so everyone should think about putting money ($USD) into something else that will go up as the Dollar goes down such as Gokd and Silver (my choice), and crypto which will go up inverse to the dollar. Silver is a great buy and has risen recently. Gold still has potential. Bitcoin can go a lot higher especially if the dollar collapses and people in the USA are using it more as a means to save their assets. Buy Gold and Silver now while they are still cheap. In a USD decline you can see Gold go up to $5,000/oz and I can envision Silver at ~$200/oz which is 10X prices now. If you have an extra $10k in a retirement account you may want to take the penalty and get your hands on some metals especially if goes up to $100k. But right now house prices are high, too high as there are less homes being sold and demand drives prices. In my opinion the revaluation of homes being worth what they were pre-2007 was a con on the public to make them feel like the recession didn't hurt long term just as I believe the stock market and retirement accounts have likewise rebounded but if the USD loses its buying power and we see hyperinflation or any meaningful inflationary pattern prices will actually go up but your dollar will be worth a lot less meaning hopefully everything you own is not dollar bills. That is why I stack silver ounces and have gold and cryptocurrency. Bitcoin especially will do well and Silver and I think STEEM too is a great buy right now as I think if this scenario happens people will look to decentralized everything and DTube, Steemit and cryptocurrencies will be a popular alternative to the mainstream central banks, central internet and central news sources. It could be a paradigm shift so ready yourself for the storm.