Quote:
Originally Posted by BOSS1
I agree with this
The home market may only be one factor, tho a crucial element. The mentality of many people who buy homes are that they are a "source of getting rich" - more fallacy.
Suckers getting mortgage are paying x3 for their house... they dont know how to use a calculator and figure out the renting and investing will be much more prudent
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This buying of homes shit is not only restricted to "wage earners" - even people with reasonable wealth have been playing that game. There is no end they will stop at to earn a dollar - even tho it is well-known there is a bubble and a fair chance it will burst.
It was only a short time ago the tendency was to use a home as an ATM while living a fantasy, tho that has reduced massively and the tendency now is borrow more money to pay the mortgage on an often depreciating asset. Bottom line, they can't afford to live the livestyle they think they have.
Only my
, but a home is for living in and is the last "line of defense" and something not worth speculating over. If someone wants to go into the property market - another story.