Folks on the sideline waiting for housing to "collapse" in nominal terms are going to be severely disappointed when the drawdown is calculated in net in real purchasing power terms.

If you want a house or property and can afford it without impacting your savings, then purchase (not invest) a house or property.

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how do you define not impacting your savings ?

In my household we don't make any purchases that threaten total physical goods surpassing 5% savings, that includes all consumption like vacations etc...

thats sound money management

That's what let's me sleep best, especially considering I have $0.00 and no job.

Houses are over valued when compared with the median wage increase over the same time frame in the US. That's just a fact, doesn't really matter what you think.

Recessions are also cancelled. Fed will just paper over any downturn