Prospective homebuyers believe renting could be detrimental to future: Report
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- čas přidán 24. 05. 2024
- Bank of America Head of Consumer Lending Matt Vernon discusses the real estate market and rent prices.
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I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
this is all new to me, where do I find a fiduciary, can you recommend any?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Bank of America does not give AF if everyone becomes renters
Half the neighborhoods I see being built now are owned by either the builder or some group and they are for lease only. All part of "you will own nothing and be happy" I guess.
Only a fool would say renting is better. You are just flushing money down the toilet.
Socialism at it's finest😢❤
The first five years of home loans is the biggest ripoff you can invest in before your loan is sold. 😮
In Scotland 50% of the land is owned by 500 families.
Eastern Long Island,,North shore,is owned by about 20 families and is as big as Scotland,,,we grow grass and grapes😮😮
Everybody rents, no such thing as ownership.
You got that right, try not paying your property taxes......even if you own outright.
"You will own nothing and be happy about it"
You kinda have to make 60,000 a year minimum to rent anything 🤷
Home ownership is slowly becoming a liability due to things like insurance costs and rising property taxes as a result of rising home values.
If people can’t buy the house you’re selling because they can’t afford the property taxes or they can’t get home owners insurance you’re stuck in that home.
Your primary residence is not an investment unless you have a viable means to sell it and realize a gain after accounting for the cost of another place to live.
Renting leads to poverty.
No it doesn't, stupidity does.
You will never be able to afford rents when you reach the age where you can’t work. My mom and dad told me before they died that if their home wasn’t paid off, they never would have made it on their fixed income. I don’t care if you own a condo, you need to have something paid off by the time you are 70. Extra payments against the principal as much as possible (5-10k a year) will reduce a 30 year mortgage to 12-15 years. Buy something small that you can afford to pay off and upkeep
The only problem is now property taxes are designed to force elderly out of their home.
While owning does built wealth only if you pay off the loan. If you buy but move in 5-8 years all you did was rent from the bank.
Seriously, get Revux now before it’s too late!
NONE of the boomers I know are even renting, let alone thinking that's better than owning. Several that aren't homeowners are RV owners and traveling. WHERE do the get these surveys done?
1:24 triped my out with the sorry
People forced to sell homes can't near me and cannot find renters to cover the mortgage and escrow.
Concentrating on BTC and Revux, with a little ETH on the side.
Most working class Americans live paycheck to paycheck. How on earth they are supposed to pay even rent??
well get used to renting with 300m migrants on route
300 million?
No we can pay our insurance and move our own grass What's a good idea is to own your own apartment. Own your own condo on your own duplex own your own trailer. It's not about just the house.
Some people just dont want the work an cash flow needed as years go buy to buy a home..they save money during year. Though year after year of renting never gain any money of equity you can refi with cash back or keep long enough its paid for.
Wondering if Revux will pump before XRP. It’s got potential!
If you want to build wealth get a hand on career and work for it we need to stop this system of debt and government programs and handouts
Yes no one wants to rent a home forever they want to own the home they want to own that trailer they want to own the apartment they want to own the RV And I want to pay for the rest of their life.
Unless prices come down significantly no one is buying. A house is a place to live not an "equity" vehicle nor is it a financial wealth building tool. This clown is the problem.
As opposed to renting? Are you nutty? Actually nevermind, I hope more people think like you do.
Moving everything into BTC and Revux. This presale is too good to ignore!
My picks for the bull run: ADA, AVAX, SOL. Best presale? Revux, no doubt.
I’m all about presales, and Revux tops my list. Early investment is key!
Keep drinking the cool aid about homes and the economy
Here;s the thing about that "landlord". Just becuase something is broke does not mean it will be fixed in a timely manner. WHen you own your own home you can get it repaired immediately.
It’s just personal preference. I really hope they bring back the first time homebuyer credit.
Who would think someone having someone else pay their mortgage. Would be a problem.
"CREATOR OF THE UNIVERSE, LORD GOD, I beg you to never force me to worship any false god and I ask you for forgiveness for my sins and immorality. Thank you for everything. Amen."
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It’s a lie
Be more specific.
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Yeah renting is for rich people otherwise it's foolish. I tented house long Island 400 month 20 yrs ago. Now its 3500 month to rent plus utilities. Now I live in my car or camper as I cut afford a home or rent