Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (452039)	1/28/2009 7:34:22 PM
From: bentway	Read Replies (1) \| Respond to of 1575844

"Yes....like you said, forced savings and a nice pot for when you retire." You're just thinking one generation Ted. In CA, (and I'm sure many other places) there are TONS of people who could never afford to live there if they hadn't inherited a house (and the property taxes) from their parents. Millions of low income Californians get by this way.

To: tejek who wrote (452039)	1/28/2009 7:58:59 PM
From: Road Walker	Read Replies (1) \| Respond to of 1575844

Knowing what I know about the Tampa market, I probably would never have bought a house there. My cousin lived in his house for 5 years in a decent neighborhood and had to sell it for less than what he paid for it. That sucks. My experience is the West coast where there is a lot of appreciation. However, I know that Tampa's story is more the norm than say LA's. The Chicago area was always pretty consistent, 4-5% a year, with a few years up more and a few years down more. A mature, stable market, with fewer people moving in and out, more families staying in homes for generations. CA and FL are a little alike. Boom and bust. Boom years are great and bust years are horrible. Yes....like you said, forced savings and a nice pot for when you retire. If you put the same $'s that you pay in interest in stocks, or even bonds you might be better off. The thing that people underestimate is maintenance and improvements. It's not a home, it's a building, and crap goes wrong with a building all the time. It's huge. And improvement are not discretionary, you have to keep up with the current style or your house declines in value. Seriously... I'm not sure it's worth it long term from an investment perspective. If you are going to retire then it's a good idea to buy a condo or something to lock in a relatively fixed housing cost, in case the world gets hit with run away inflation and rent increases dramatically. But otherwise I'm not sure. A house is a money pit.