Economy

TGHusker said:
The price of existing home are going through the roof currently as we have a seller's market. Now with the increase in lumber price, building a home may not be a solution for many.  $36k is no small pocket change for most folks.  It will be interesting to see if mortgage rates climb with inflationary pressures as well.  That could be a 1,2,3 strike out for many buyers either trying to buy their 1st house or moving up in size.
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Interestingly, I've had a couple conversations lately with people thinking about selling their home because they can get so much more for it.  But, I counter that with....but you then have to buy another one that's also increased in price.  I'm not sure how people reconcile that.

 
BigRedBuster said:
Interestingly, I've had a couple conversations lately with people thinking about selling their home because they can get so much more for it.  But, I counter that with....but you then have to buy another one that's also increased in price.  I'm not sure how people reconcile that.
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Bow out and rent forever?

 
BigRedBuster said:
Interestingly, I've had a couple conversations lately with people thinking about selling their home because they can get so much more for it.  But, I counter that with....but you then have to buy another one that's also increased in price.  I'm not sure how people reconcile that.
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Yes, my wife and I have been tossing this around too - do we down size now or just keep the house and update it.  Not that we have a huge house but we, being empty nesters, don't need 4 bedrooms.   Our son and his family live in the Asheville NC area and they have been trying to move and a house they offered well above market went to someone else.  I guess sellers are listing the house - taking offers over a weekend and making a decision on Monday.  Sold that quick.   A  friend at work whose wife is a broker, said a couple she represents placed a bid on a moderately price home (under $250k) at well over the asking price and added a contingency that they would beat any other offer by $500 up to $17k additional on top of their bid. They didn't get it.   All on a weekend - list it, take bids - announce who won the bid on Monday.   Sweet deal if you are needing to sell your house.

 
deedsker said:
Bow out and rent forever?
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Being an empty nester and retiring over the next 1-3 years and tired of lawn work - I'm trying to figure out if renting might be an option.  There are certain 'senior living' communities /condo communities which take care of all of the maintenance, insurance etc for a monthly fee.  Invest the money from the sale of your house in a safe, conservative manner - in dividend/income producing treasuries/ bonds/Prefered stocks/REITs/ etc  and maybe it might make sense.  Use the dividend income to 'pay the rent' and keep the principle safe and untouched.    Or stay in the current house and keep up the taxes, insurance,  maintenance, upgrades . - put still hold onto a tangible asset that hopefully keeps on appreciating.

 
TGHusker said:
The price of existing home are going through the roof currently as we have a seller's market. Now with the increase in lumber price, building a home may not be a solution for many.  $36k is no small pocket change for most folks.  It will be interesting to see if mortgage rates climb with inflationary pressures as well.  That could be a 1,2,3 strike out for many buyers either trying to buy their 1st house or moving up in size.
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Im probably going to be looking to buy my first home this fall. Im not looking forward to it with all the horror stories Ive heard about this market from others looking. 

 
TGHusker said:
Being an empty nester and retiring over the next 1-3 years and tired of lawn work - I'm trying to figure out if renting might be an option.  There are certain 'senior living' communities /condo communities which take care of all of the maintenance, insurance etc for a monthly fee.  Invest the money from the sale of your house in a safe, conservative manner - in dividend/income producing treasuries/ bonds/Prefered stocks/REITs/ etc  and maybe it might make sense.  Use the dividend income to 'pay the rent' and keep the principle safe and untouched.    Or stay in the current house and keep up the taxes, insurance,  maintenance, upgrades . - put still hold onto a tangible asset that hopefully keeps on appreciating.
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In your situation, you could sell, rent, keep the cash safe.... then when the next housing crash happens, if you want, you could get into a pretty nice house for less money. Then, pay someone to mow. 

 
TGHusker said:
There is some who predict Jimmy Carter type inflation.  Our economy is a lot different than the late 1970s and we have different tools that the Fed uses to battle inflation that weren't used in the 1970s but I think it is apparent that prices are rising across the board.
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I knew there was a relationship between Carters, Bidens and inflation.  Look how inflated the Biden's look in comparison to the

Carters.   And who is that lurking in the background?  Mr Big Govt himself - feeling the Bern. :D


 
BigRedBuster said:
Heil to the parties.  
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We literally had one of our board members talk about how Biden is ruining the economy yesterday. His whole thing, being a really rich guy, was that he's gonna have to pay taxes and that's not fair and other Richie Rich's won't wanna do any more business stuff. 

 
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