U.S. Housing Prices Explosion Making Repatriation a Less Realistic Option for Many?

[frantick]

There's always Medicare assisted living. Sure, they'll take all your SS, but they'll leave you $60 to play with every month. 

 

I know because my mother is in one. 

 

Trust me, if the blue run cities, which have the most homeless as well as the most capital can't solve the issue, no one can, right? $837,000 to house one homeless person; corruption much?  Nuts. 

 

I'd recommend roomies, or family, like the Europeans do, but I'm sure the next excuse would be "has no family and can't make friends". Always excuses for some people instead of looking for solutions. 

 

If I get that desperate, I'll just stop eating and end my time on this earth. We're all lucky to have lived, albeit temporarily. 

[Jingthing]

Owners vs. Renters Stats

 

https://ipropertymanagement.com/research/renters-vs-homeowners-statistics

[jerrymahoney]

13 hours ago, KhunLA said:

Only an idiot rents, that's relative of course.

Only an idiot who wants to be able to pick-up and move any time he wants.

[KhunLA]

26 minutes ago, jerrymahoney said:

Only an idiot who wants to be able to pick-up and move any time he wants.

That would be the 'relative' part ... ????

[jerrymahoney]

22 minutes ago, KhunLA said:

50 minutes ago, jerrymahoney said:

Only an idiot who wants to be able to pick-up and move any time he wants.

That would be the 'relative' part ... 

So a relative idiot. Thanks for the clarification.

[KhunLA]

18 minutes ago, jerrymahoney said:

So a relative idiot. Thanks for the clarification.

If you know you're going to stay in that area, for say 5 years or more, then you would buy, as the appreciation, would actually finance your housing cost when sold.  Fairly simply to understand.

 

Since my first house, I've lived basically 'rent' free, both in USA & TH, and housing has cost me nothing over the past 40 years.  Since one of your largest monthly bills, that's quite a bit of extra pocket money every month.  Spent on you, instead of giving it to someone else.

 

Even the time renting between owning has been 'financed' by profit on sales of previous home.  Equity built up over the years can be sold if really needed.   Rent is lost forever.

Edited July 10, 2022 by KhunLA

[jerrymahoney]

I'm not going to get into finances. From 1980 to 2004 when I moved full-time to Thailand, I moved 12 times (not counting living in other person's quarters) both new locations and moves within locations for work or other reasons.

 

Only owned once and vowed to never do it again.

Edited July 11, 2022 by jerrymahoney

[GinBoy2]

1 hour ago, jerrymahoney said:

I'm not going to get into finances. From 1980 to 2004 when I moved full-time to Thailand, I moved 12 times (not counting living in other person's quarters) both new locations and moves within locations for work or other reasons.

 

Only owned once and vowed to never do it again.

We kinda fall into a mid ground here.

 

Always owned a home in the US, but when we were bouncing around China/Taiwan/Singapore for work we always rented.

 

With the move to Thailand, we built a house which we still own and thats our vacation house.

 

I kept rental condo's in Thailand, but as soon as we moved back to the US sold up and bought apartments here, and in hindsight one of the better real estate decisions I've ever made.

 

But keeping a house in the US which we rented out, then renting while we were moving around for work, I never regret those choices

[jerrymahoney]

I once owned a property in Denver 1982-1984. Luckily I was able to sell it when I wanted to move back San Francisco area.

 

I am glad that AseanNow.com gives you guys a chance to let others know of your complicated financial machinations.

[KhunLA]

21 minutes ago, jerrymahoney said:

I once owned a property in Denver 1982-1984. Luckily I was able to sell it when I wanted to move back San Francisco area.

 

I am glad that AseanNow.com gives you guys a chance to let others know of your complicated financial machinations.

If knowing only staying 2 years, if that, then buying is a big question mark.  5 yrs of equity building, hopefully, is a safer bet, as markets do fluctuate short term.  Plus, for something like USA, cost of getting in, above just the mortgage, depending where, can add up.  Short term stay, may just be a wash.

 

When I was following the money with work, going from PA to NJ, MI, TN, FL, WV, I certainly didn't buy in any of those places, as not knowing how long I'd be there.  But I certainly didn't sell my properties back in PA, as the tenants were building my equity at no cost to myself, and paying my rent when out of PA.

Edited July 11, 2022 by KhunLA

[jerrymahoney]

The topic: U.S. Housing Prices Explosion Making Repatriation a Less Realistic Option for Many?

 

But not for those who have outsmarted the market for the last 30 or so years as they are to let us know just how.

 

There once was a topic of a Thai wife paying to have her farang husband murdered so she could collect on an insurance policy.

 

To some, that was just an invitation to let others know of all their detailed inheritance plans and why all their plans are locked up tight. You betcha.

Edited July 11, 2022 by jerrymahoney

[Jingthing]

1 hour ago, jerrymahoney said:

The topic: U.S. Housing Prices Explosion Making Repatriation a Less Realistic Option for Many?

 

But not for those who have outsmarted the market for the last 30 or so years as they are to let us know just how.

 

There once was a topic of a Thai wife paying to have her farang husband murdered so she could collect on an insurance policy.

 

To some, that was just an invitation to let others know of all their detailed inheritance plans and why all their plans are locked up tight. You betcha.

Yes of course many doesn't mean all.

The topic is about those among the many.

[Jingthing]

5 hours ago, jerrymahoney said:

So a relative idiot. Thanks for the clarification.

Not all renters are idiots relative or otherwise just as not all landlords are evil.

[Jingthing]

There are arguments to cash out when the market is high.

There is no works for everyone every time rule on such matters. 

 

 

[Jingthing]

Pushed out of Thailand for one reason or another and can't afford to move back home?

 

Jerry Brown and Lori have your back!

Go east old man to CAMBODIA.

 

 

 

[jerrymahoney]

6 minutes ago, Jingthing said:

Not all renters are idiots relative or otherwise just as not all landlords are evil.

When I last lived in Oklahoma, there were bumper stickers which read: Ask me About My Grandbaby.

 

The joke being they are going to tell you about their grandbaby whether you ask them or not.

 

The topic being some would have problems due to the current real-estate market repatriating to USA.

 

Well not me.

Edited July 11, 2022 by jerrymahoney

[KhunLA]

Anyone that can't afford to live in Thailand, will definitely have problems returning to USA.  That's pretty much a given.

Edited July 11, 2022 by KhunLA

[Jingthing]

7 minutes ago, jerrymahoney said:

When I last lived in Oklahoma, there were bumper stickers which read: Ask me About My Grandbaby.

 

The joke being they are going to tell you about their grandbaby whether you ask them or not.

 

The topic being some would have problems due to the current real-estate market repatriating to USA.

 

Well not me.

OK.

Whatever. 

Good for you.

How's your grand baby?

[jerrymahoney]

12 minutes ago, Jingthing said:

How's your grand baby?

My wife could arithmetically almost be the age of my grandbaby.

[Jingthing]

3 minutes ago, jerrymahoney said:

My wife could arithmetically almost be the age of my grandbaby.

Sorry I asked.

Does she have a brother?

[jerrymahoney]

23 minutes ago, Jingthing said:

Sorry I asked.

Does she have a brother?

Yes -- about 300 miles away.

 

But only an idiot rents (relative or not as I read on here this AM) and that's just what I'm doing technically as of last month.

 

And I like it.

Edited July 11, 2022 by jerrymahoney

[Jingthing]

15 minutes ago, jerrymahoney said:

Yes -- about 300 miles away.

 

But only an idiot rents (relative or not as I read on here this AM) and that's just what I'm doing technically as of last month.

 

And I like it.

Arguably "only an idiot" foreigner buys in Thailand (like me) when they have no guarantee of residence security here.

[Jingthing]

There are many people staying in Thailand on retirement extensions with low income but enough assets to cover the 800k baht bank method. Obviously people can easily live in Thailand on less than the 65k monthly income method.

 

But 800k baht if that's most of what you have won't go far at all upon repatriation.

[Fat is a type of crazy]

5 hours ago, Jingthing said:

Not all renters are idiots relative or otherwise just as not all landlords are evil.

You do infer though on other posts that landlords who charge market rent in a rising market are evil. Can you see that that is not sensible. You may limit rental increases because you have a good tenant, or give them time if they hit hard times,  but would you really rent out to someone at say half the market rate just to make life easy for them. Someone you hardly know. It would be nice and makes a good story if people did it but charging market rent is not an evil.

If you manipulate the market or something that's a different thing. 

[Jingthing]

5 minutes ago, Fat is a type of crazy said:

You do infer though on other posts that landlords who charge market rent in a rising market are evil. Can you see that that is not sensible. You may limit rental increases because you have a good tenant, or give them time if they hit hard times,  but would you really rent out to someone at say half the market rate just to make life easy for them. Someone you hardly know. It would be nice and makes a good story if people did it but charging market rent is not an evil.

If you manipulate the market or something that's a different thing. 

Nope.

You saw an implication that was only in your head, not mine.

[Fat is a type of crazy]

32 minutes ago, Jingthing said:

Nope.

You saw an implication that was only in your head, not mine.

It was a different poster who used that word. Thought it was you. Then I saw you say not ALL landlords are evil. Fair enough though. 

Edited July 11, 2022 by Fat is a type of crazy

[Jingthing]

25 minutes ago, Fat is a type of crazy said:

It was a different poster who used that word. Thought it was you. Then I saw you say not ALL landlords are evil. Fair enough though. 

Some of my best friends are landlords.

[KhunLA]

On 7/10/2022 at 4:02 PM, Jingthing said:

I looked up Chester rents.

Posted a link.

Nothing close to 300.

The lowest rent one was 762 but a car dependent area and most were well over 1000.

Stop the gaslighting!

$300 was a mortgage, not rent.  A lot of the rent is high, because it's an area with lots of Sec 8 subsidize housing.   Sec 8 takes in the metro area rent prices, to set it's limits, not a certain town or area.  Rents are based on the whole Philly metro area.

 

What I got from HUD Sec 8, I couldn't get from a working person, as they wouldn't pay that much.  I think I was getting something like $750, and a non Sec 8 would only give you about $500.  I think my mortgage, inc taxes was $210 ish.  Hence the advantage of renting out to Sec 8, not only a higher rent, but you actually get it every month.

 

Only a few areas in Philly area, and the country, where you can make decent money with Sec 8.  Why supply & demand isn't is being met.  Sec 8 only give you the subsidized part, the rest, you have to collect in cash, and sometimes, many, you don't get.  Many don't even expect to get, and other charge above and beyond allowable rent, because they know there's a boyfriend or other living there that's not authorized to.

 

And there's plenty of public trans in Chester, bus & train line.  Far from car dependent.

[Jingthing]

A theme song for many of us.

 

 

[heybruce]

19 hours ago, KhunLA said:

If you know you're going to stay in that area, for say 5 years or more, then you would buy, as the appreciation, would actually finance your housing cost when sold.  Fairly simply to understand.

 

Since my first house, I've lived basically 'rent' free, both in USA & TH, and housing has cost me nothing over the past 40 years.  Since one of your largest monthly bills, that's quite a bit of extra pocket money every month.  Spent on you, instead of giving it to someone else.

 

Even the time renting between owning has been 'financed' by profit on sales of previous home.  Equity built up over the years can be sold if really needed.   Rent is lost forever.

Right....Appreciation always finances housing cost.

 

Unless you buy before a real estate crash.  Or buy in an area in which the mill/base/mine or some other key industry closed. And you neglect maintenance, taxes, insurance and costs of buying and selling a house. 

 

You also must ignore the fact that your house probably isn't appreciating much faster than inflation:

 

" Housing experienced an average inflation rate of 4.19% per year. This rate of change indicates significant inflation. In other words, housing costing $100,000 in the year 1967 would cost $953,910.69 in 2022 for an equivalent purchase. Compared to the overall inflation rate of 3.99% during this same period, inflation for housing was higher. "  https://www.in2013dollars.com/Housing/price-inflation

 

An investment return of 0.2% a year after inflation isn't that great.  It get worse when you sell a house you have lived in but don't buy a replacement.  Even if you have little or no real profit after inflation, you will pay a capital gains tax on the non-inflation adjusted "profit", which can be huge if you've owned the house for a few decades and its inflation adjusted value was nil. 

 

You are posting the kind of nonsense real estate agents will give to gullible buyers.  Contrary to the "easy money" stories you hear from some people, buying a house isn't a guarantee of easy money.

Edited July 11, 2022 by heybruce