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10-21-12, 10:52 PM
He suggests it's an investment worth more than the stock market. He even sounds a bit disappointed that he can't buy them all up and put managers in charge of them.
I'll put the link to the YouTube video here, and then try to embed it in the next post, so it will show up the right size for those of us who see the ads.
10-21-12, 11:00 PM
Since there has been at least one topic I remember about buying a house, it's probably nice to have heavyweight support like this for the idea.
10-22-12, 02:04 AM
He's so right, as usual. I've been looking at investment real estate off and on for 20 years or so. The last couple years, for the first time, you can buy a good home in a decent neighborhood, finance the whole thing (if you could get a 100% mortgage, in theory), and start banking money right away. You don't need appreciation or inflation to get a return on your money, though you're pretty likely to get them in the long run anyway.
It's a real no-brainer investment right now. The only stumbling blocks are tight or poor credit, and people's fears. Many people who got burned trying to 'flip' houses during the bubble can not be convinced to buy now, no matter how cheap the prices. Add in give-away interest rates, near zero savings returns, and questionable prospects for stocks (manufacturing getting beat down by China, and retail by the internet), and people should be lining up to buy houses.
Managing homes is a different animal. If you don't want to be in that business, fine. But, if you are planning to stay in an area for at least a few years, then buying your own home should easily beat renting for now.