07-01-2019, 10:43 PM
(07-01-2019, 09:19 PM)rayray Wrote: I'm a firm believer in your home is your home and not necessarily an investment even if it turns out that way as time passes.I agree with u that we are due for a recession that's why the question and I am trying to decide between the 2 options I mentioned. One is a great home with a high price tag( gated community etc) other is an ok home with a huge discount(but not cheap) but great potential for growth if Facebook executs the plan as being marketed.
Having said that:
I don't know what w.r.t means?
If I'm understanding this correctly, it sounds like you're upgrading to a new home for the betterment of your family, i.e., a better school district/nicer neighborhood, and keeping your first home as a rental? If so, are you prepared to be a landlord of a single unit? Maybe I'm misunderstanding what your plan will be?
Even if rates are not lowered they are low, historically speaking.
As far as a future recession? Well, I'm fairly certain it will happen but when it will happen is anyone's guess. The one thing I would put money on is that we will be in a recession before anyone, including some economists, start saying we're in a recession!! When the reports start telling us we're in a recession we're already waist deep in a recession. Friends, some with finance degrees, have been telling me about a coming recession since 2013.
"It's tough to make predictions, especially about the future." --Yogi Berra
Yes my first property is going to be a rental. It's in a great community aswell. Its valuation is down by 100k plus aswell since last year reflecting the slowdown.
Now as a post mentioned above that we will be already in recession before the reports start showing up. I am wondering if it's already there as reflected in slow down and I should wait. Let's say if I don't wait then which property is a better option?