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Realestate values have been soaring. Property taxes and insurance rates go up proportionately. Cost of maintenance and repairs also rise with inflation. The renter is going to pay all of those rising costs plus a premium on top of that because the property owner has to increase his income/profit to keep up with his personal rising costs. Just the way it is. Inflation is a bitch.

My mother lives in a modest 1,900sqf home in California. She's protected from soaring property taxes by proposition 13 passed into law back in the 1970s, but her neighbors are paying $15,000 a year just in property taxes. Zillow rental estimate on her home is nearly $5,000/mo which is probably on the low side. Purchased in the 1960s for $35k.
 

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I will have to wait until the bubble bursts here where I live before I can enter the market.
Get your shit ready.
The market is cooling right now, and there is about to be alot of deals to be had.
Be smart about it.
Don't buy in a city, and don't try to play investor.
 

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Discussion Starter · #24 ·
Get your shit ready.
The market is cooling right now, and there is about to be alot of deals to be had.
Be smart about it.
Don't buy in a city, and don't try to play investor.
I have resources already set aside for this also.

I agree, I HATE urban life these days. People are not meant to live like roaches.
 

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So in a single year everything has gone to pot.
Thank you Biden . Build back better. Sure. All they want to do is push the green bull shit agenda. People are having trouble making ends meet & the govt wants them to buy electric cars that are 60 grand plus. They promise a rode garden & they are getting a rock garden. In the meantime they are burning up kerosene on their private jets
 

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Get your shit ready.
The market is cooling right now, and there is about to be alot of deals to be had.
Be smart about it.
Don't buy in a city, and don't try to play investor.
In Fl. its a sellers market. This past year 227,000 people have relocated from Ca.,Chicago & NY. Sellers are taking cash offers not entertaining people that need a mortgage. Buyers are paying as much as 15K over asking price in my area. I have realtors calling me up offering me over 400k for my place I tell them I would not even entertain 500K. I could not replace it. On average there is only a week or 2 of inventory of homes. Normally 3 months of inventory.
 

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People are buying vacation properties in my area. Bidding up prices. When the economy tanks, foreclosures and people panic selling property here is a phase of a regular ten-year cycle. That’s when you want to have cash.
 

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hedgehog #4 wrote this:
I never stopped paying rent. That would have been both irresponsible and unethical. I resent being squeezed due to the negligence of others at a point where inflation is already taking a bite out of my ass.

Congress is doing to that to all of us right now regarding guns....
 
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