All Forum Posts by: Mel D.

Hi Zachary,

I think it's a great idea! Let me know if you need any help locating FHA approved listings or need help with pre-approval. You might also consider a duplex, triplex or fourplex so you can reach your goals faster and have more privacy. Some of these duplexes can host an entire family and command much higher rents!

 On land side, 100% Chris, your spot on, one NEVER actually "owns" that land as long as someone else has a position of control over such and rights to receivership regardless of the red-tape to do such. Although this is a point of semantics because there is no change of such, never has been never will be, it's a necessary mechanism of society. 

When a person takes $ from a bank, to buy a home, that is the Bank "owning" that real estate. A person has a option to own that real estate once they perform on that note with the bank. 

There is a education deficit in the U.S. where people like to lie to themselves and say they "own" that property, which they just paid 3.5 - 20% upon.

Think on it, what is renting out a property? We give a person use of the property in full, in exchange they must make regular payments and maintain that property to a set standard to retain that usership right. And this is given, at profit.     Ok, now when one "buys" a home via banks $, on must do the exact same, and again, for profit to the bank. Yes, your a tenant to the bank. 

You have to think big picture to comprehend how these elitist view the world and structure of things. When they say "you will own nothing, and be happy" most put it in there personal "box" of life and scratch there head picturing some entity coming in and taking all real estate, all assets, and making them lease everything. No, you have to jump into there shoes to comprehend. 

Those who FUND the purchases, control via lending mechanism, THEY own "everything" do they not? And when a person get's that home for 3.5% down, are they not "happy"? And completely ignoring the fact they will be paying that bank 2X+? 

Auto loans are now commonly going 7+yrs, that was once unthinkable, especially with people cycling autos on average ever 5yrs. That makes for perpetual debt, which is NOT owning anything, just purchasing usership rights. Expand home mortgages to 50yrs and you get the same, lifetime debt. 

People are happily moving into perpetual debt service, and doing it with a smile because they "feel" they "own" those things because they "own" the use and responsibility of it. 

I see this same mindset in my long-term tenants. Once in a home 10+yrs, they say "my home" and act in ways that they own it. I like this, heck I encourage it, because it makes me a bunch of $ and I love them accepting on the responsibility and care of my assets, that I allow them use of, at profit. 

You are welcome to form your own opinions, but the only market crash we need to look at is 2008. The economy, geo-politics, property rights, regulations, taxation, investing, banking, the stock market, and currencies (to name a few), were completely different "back in the day". Credit scores weren't even a thing until 1990. These aren't the same times when grandpapi was paying $.05 per gallon of gas. Makes no sense to look at ancient days when trying to analyze a modern-day housing crisis. 

And yes, in 2008 we know lending was lose, there were appraisal problems, etc. But there are also similarities. In addition to those similarities, there is a new set of problems associated with the upcoming crash. 

With that, I believe that we're going to see housing market crashes on a fairly regular basis going forward. not every few years, but definitely not once every 75 years.