@RedPirate751

Rural area in the Midwest: did some work on Mom's house in 2014/15 and it was appraised at 112k. Up from 86k in 2012. Last year the house sold for 169k. 9k above asking with multiple bids over the 155k asking price.

While individual states may be better or worse than others it's still one nation.

The Fed is hunting for more and more wealth from your average American. Example's being the fact Biden wanted to go after anything over $600 via Vermo and similar apps for digital transactions. The sixty some thousand extra IRS agents hired recently.

USA will be the last to collapse because they're currently the world currency. Hard times have caused foreign money to flea to the USA, which propped up stocks during covid while other countries bottomed out.

@Kloi there's a big difference between buying a house in NYC, which is more comparable to your Roman example, and the many places in the US where the market/government is better.

If he wants to live in a big city then yeah it might not be as good of an idea.

@RedPirate751

Throughout history collapsing governments have routinely increased the expenses in relation with owning property to the point above average people will simply walk away before being bled dry.

That's part of the reason Rome went from the first city with a population of one million to 500k. Then 500k to say 50k in 100 years

To go off the original thread, now isn't the time to purchase. Everything is still inflated from Covid.

@paul_ernst

Invest in yourself. Pay to learn new skills. Pay for life experience. Start a business if you're a leader and have an interest that could be profitable. Invest in someone you believe in if you're not business owner material and you're a good judge of character.

@RedPirate751

buying land/owning a home is one of the few things that will always hold value.

True but prices fluctuate a lot, and you want to buy the dip, NOT the peak or bubble. People who put everything into RE in 2007 probably waited a decade for it to be worth what they paid for it again, whereas those who bought in 2009 probably got twice as much for the same money and those properties started appreciating above purchase price right away.

My prediction is that all RE is nearing the end of a bubble so anyone with money to burn might be better off putting it in a short term investment for now and move it into real estate 12-18 months out when they can get far more for the same money and it won't go way down in value the first year of ownership.

@MentORPHEUS there's plenty of bad economic headwinds right now but buying land/owning a home is one of the few things that will always hold value. Stocks, commodities, ect all markets go up and down.

Owning land means real independence. Unless there is a complete breakdown of law and order, or a fucky workaround (looking at you, eminent domain), it is VERY difficult to take away from you. Its also one of the few things in this world of which there is a truly limited supply (there's only so much land on Earth, and only so much land that is actually desirable to live on) and has intrinsic value in a way that stocks, paper currency, and other stores of value do not.

@carnold03 Thanks mate, like the idea of the lists ;)

@RedPirate751 Yes but only where a deep discount is possible because right now housing is in a bubble that is going to crash soon with interest rates and the economy going South. Inventory is tight and prices very high in lots of markets right now; what houses BlackRock didn't snap up with help from the Plandemic got bought up by investors to turn into STRs like AirBNB. Many areas are currently putting strict and expensive restrictions on STRs as a result of entire neighborhoods ending up with more AirBNBs than permanent residents and the resulting problems. There's going to come fire sales in each market as this ripples around and in general as the economy slides and people have to liquidate when they can't refi their way out of hot water any longer.

@MentORPHEUS not commercial real estate. Buy a house.

@paul_ernst Reading the comments you guy until now, I’ll add that you should financially educate yourself. Take 50$ of those 100000 and spend them on books that teach you how to invest or how to handle money. That’s the best you can spend your money on for now. Definitely read a few books since opinions differ. Maybe start with something easy like Rich Dad Poor Dad even though it’s annoying to read and gives little actionable advice, you’ll learn something.

There’s this FIRE movement, financial independence retire early. Maybe check that out and see if you can see yourself there.

@paul_ernst in terms of maintaining your wealth. Make sure your savings is not sitting in a low interest account. Many banks online are offering 5% interest just to house your money.

Real estate is always a good investment. Whether that's a house or rental property.

Stocks are volatile but you can invest in index funds which hold groups of stocks.

Max out your ROTH if you haven't been doing that.