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Comments like these help remind me a large fraction of this website lives in an alternative reality.
Why? Where else would the money for the down payment come from? People don't keep tens of thousands in their checking accounts.
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Comments like these help remind me a large fraction of this website lives in an alternative reality.
Why? Where else would the money for the down payment come from? People don't keep tens of thousands in their checking accounts.
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Why? Where else would the money for the down payment come from? People don't keep tens of thousands in their checking accounts.
Usually people save money in a savings account.
It is hard to imagine anyone affording a a mortgage if their savings are rotting away at 5% less than inflation.
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How are you planning to buy a house without cashing out stock investments?
Silicon Valley brain is real, folks
if everyone's expecting a market crash and prepared for it (that means it should already be priced in), how can there still end up being a crash? seems counter intuitive.
Hopefully it gets housing/real estate as well because I'd really like to buy a house in the next ten years.
In times of economic upheaval/resets, labour does not find bargains, capital does. Housing prices might take a hit, but by the time they pop up on the open market, you won't be buying from a distressed seller, but rather a numbered corporation domiciled in Delaware that's picked up all those properties in cash, cheap.
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Usually people save money in a savings account.
Future homeowners don't. I suspect there is a pretty strong correlation between people who invest their money and those who buy houses. It is hard to imagine anyone affording a a mortgage if their savings are rotting away at 5% less than inflation.
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Future homeowners don't. I suspect there is a pretty strong correlation between people who invest their money and those who buy houses. It is hard to imagine anyone affording a a mortgage if their savings are rotting away at 5% less than inflation.
Depends on how soon you are planning to buy. The usual rule of thumb for a big purchase (house, car, etc) is that if you’re planning on it occurring in 3-5 years, put money in a savings account. Otherwise, yeah you should probably invest it.
Im just shocked that some people think stock is some SV alternate reality. I grew up in a rural community before the internet, and even then, nobody I knew was long term saving for houses or retirement with a savings account.
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How are you planning to buy a house without cashing out stock investments?
Silicon Valley brain is real, folks
You're just patronizing everyone who isn't in Silicon Valley with a statement like this.
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Silicon Valley brain is real, folks
You understand that most Americans (>60%) own stock, right? You're just patronizing everyone who isn't in Silicon Valley with a statement like this.
First, how many Americans only own stock as part of their 401(k) or IRA and can't liquidate it without affecting their retirement?
Second, how many Americans own stock portfolios with sufficient value that they could liquidate them and purchase a house for cash, as the initial response implied? I guarantee you it's less than 60%.