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

[Jeffr2]

8 minutes ago, meechai said:

Nah not at all I am saddened to see many even relatives of mine here that suffer the same fate

 

But it is not our fault or the country trying to price anyone out

It is as it always was

 

Some folks like Jeff2 like to brag about getting cheap sub par labor for 1000baht then complain when he has to pay a fair wage in the western world

It is what it is & it is what it always was.

 

Some like to have it both ways...Go live cheap for decades in 3rd world  then get upset when they want to go back to another world & expect everything stated static while they were away eating kow pad.....sorry others are also entitled to a return on their investments they made in their country ...it is their savings return

 

Everyone has choices so it is not pleasure derived by someone from another person's misfortune...it is your choice, your free will you chose.

Don't now complain about your choice

You know nothing about me.  I pay above average rates for labor here.  And our house here is far from cheap.  A beautiful 4br 4ba pool villa near the beach.  Not a condo.

 

Some harsh words for others here.  We're just having a conversation.  and not everybody is in the same situation financially.  Jeez.

 

P.S. I own raw land in Vegas.  Easier to deal with than a house.  And yes, the prices have gone crazy on land also. 

[EVENKEEL]

On 2/2/2022 at 9:40 AM, Jeffr2 said:

I was with a friend in Colorado this summer.  He needed some work done on his house.  Guess what?  No contractor would take the job as it was only a few days work.  And even then, the prices were eye watering.  So, we did it our selves.  Not something I enjoy doing at my age.  On my knees doing manual labor.

 

I've got no interest in living in 2 places.  I had a 4br 4ba house in Vegas that I sold in 2008.  Beautiful house, right on the golf course, fantastic.  Just didn't want to keep 2 residences.  and for sure, hate that long flight.  This summer was the first time back in the US in 10 years.  We might go back late this year, who knows.

 

Rental cars were sold out, hotels were priced sky high, it was no fun in the US this past year.  Used car prices are up significantly.  Not 100% due to the dollar's devaluation.  Same with prices on many things.  Again, not 100% due to fiscal policies. 

 

I'm a trained economist.  You're a contractor.  I do know about money and inflation.  Masters degree in it and all....

Me with my GED own 3 homes in US with rent coming in on 2 of them, paid for 2 homes in Thailand (cash) It's nice to have options. But I'd rather have my kid educated in Thailand

[EVENKEEL]

If I educated my kid in the US she'd be going to a private school, the same as I did before with the oldest. 

 

I have family who rented all their lives, never thought about retirement. And I have family that were very wise, bought houses for rent, much like me. I feel for those who sold their paid for US homes and squandered their money away in Thailand.

[Jeffr2]

8 minutes ago, EVENKEEL said:

If I educated my kid in the US she'd be going to a private school, the same as I did before with the oldest. 

 

I have family who rented all their lives, never thought about retirement. And I have family that were very wise, bought houses for rent, much like me. I feel for those who sold their paid for US homes and squandered their money away in Thailand.

I've invested in RE for decades.  Everything from condos to houses to land to financial instruments.  I've made more money in the stock market than in RE.  One reason I sold that house in Vegas.  I've made close to double the profit in the market than if I would have kept the house and sold it now.

[Jingthing]

Well here are some (not very attractive) options. Is this list even believable? 

 

Best Cities To Retire on a Budget of $1,500 a Month (msn.com)

[onthedarkside]

Several off-topic posts pertaining to partisan politics name calling have been removed.

 

[LarrySR]

1 hour ago, andy said:

Just wow.  That list is scary - Odessa TX <deleted>??? ????  and Oklahoma?  Has to be possible that that list is a windup...really need to remove the "best" from the headline at minimum.

 

Can you imagine someone reading that list, packing up and moving to some MAGA hellhole like Texas, Oklahoma or Louisiana and your new neighbors are sitting around on the porch picking their nose, drinking Mountain Dew, flying a confederate flag with Fox News blaring out of the television? 

It would be like reading some TAT brochure and taking your new bride to Pattaya for a honeymoon.

[Jingthing]

4 hours ago, LarrySR said:

Can you imagine someone reading that list, packing up and moving to some MAGA hellhole like Texas, Oklahoma or Louisiana and your new neighbors are sitting around on the porch picking their nose, drinking Mountain Dew, flying a confederate flag with Fox News blaring out of the television? 

It would be like reading some TAT brochure and taking your new bride to Pattaya for a honeymoon.

1500 a month is poverty level especially if you need to rent. So it's "best" in that context. I reckon those places beat homelessness or living in a car, though I seriously doubt 1500 would cut it above total misery even in those places unless supplemented with savings. Not to mention many people have S.S. checks much lower than 1500.

[GinBoy2]

 

I always maintained a home back in the US, and in the crazy days of 'leverage' I was an outlier in the fact that I used every bonus $ I got to pay off equity, since I always thought, if push comes to shove, if I'm debt free and I can flip burgers to survive.

 

Ended up, we own our home and and a few rentals for income with zero debt.

 

The fact that we own rentals I know what the cost is and I feel for you, but unfortunately at, what I think is the age of most of us, this is the end result of many years of misjudgment.

[Jingthing]

On 2/7/2022 at 2:35 PM, GinBoy2 said:

 

I always maintained a home back in the US, and in the crazy days of 'leverage' I was an outlier in the fact that I used every bonus $ I got to pay off equity, since I always thought, if push comes to shove, if I'm debt free and I can flip burgers to survive.

 

Ended up, we own our home and and a few rentals for income with zero debt.

 

The fact that we own rentals I know what the cost is and I feel for you, but unfortunately at, what I think is the age of most of us, this is the end result of many years of misjudgment.

Good for you that you have possible repatriation well sorted for yourself..

[Jingthing]

Fort Wayne Indiana from the best low budget list doesn't sound so.bad.

Is anyone here familiar with it?

Of course it has those brutal midwestern winters but on the other hand its a nice sized smaller population city and they have an Ethiopian restaurant!

[GinBoy2]

10 hours ago, Jingthing said:

Good for you that you have possible repatriation well sorted for yourself..

I'm in no way trying to be smug.

 

But I come from a very poor immigrant Hispanic family. I know what it's like to be poor.

Both my parents were farm workers in the CA Central Valley, and we lived paycheck to paycheck.

 

I was lucky, I went to college, first one in my family and I made a good life, and eventually was able to provide for my parents in their later years

 

But I never lost that feeling of the fear of the insecurity of losing your home, ability to feed yourself and family if things turned South.

 

So please don't see what I say as smugness, but it's more a case of I know from family experience what the alternatives might turn out to look like

[Jingthing]

This hasn't been anything like normal housing inflation.

 

It's obviously hit a lot more non expats than returning expats.

 

 

[TallGuyJohninBKK]

On 2/7/2022 at 9:28 PM, Jingthing said:

Fort Wayne Indiana from the best low budget list doesn't sound so.bad.

Is anyone here familiar with it?

 

Don't know nothin' particularly about Fort Wayne or Odessa TX...

 

But, I MIGHT prefer chowing down on authentic Tex Mex in Odessa vs. Ethiopian food in Fort Wayne!  ????   Even if it meant washing down my chow with a Mt. Dew (or more likely a beer).

 

Who knows... If I live long enough, there might still be some hope left for Texas yet...

 

Texas might be a red state now, but the Lone Star State is turning blue right before our eyes

 

https://www.usatoday.com/story/opinion/voices/2022/02/08/texas-politics-republican-democrat/6591739001/

 

[meechai]

On 2/7/2022 at 12:35 PM, GinBoy2 said:

 

I always maintained a home back in the US, and in the crazy days of 'leverage' I was an outlier in the fact that I used every bonus $ I got to pay off equity, since I always thought, if push comes to shove, if I'm debt free and I can flip burgers to survive.

 

Ended up, we own our home and and a few rentals for income with zero debt.

 

The fact that we own rentals I know what the cost is and I feel for you, but unfortunately at, what I think is the age of most of us, this is the end result of many years of misjudgment.

Exactly!

There was a time when most (our grandparents) felt this way & knew being tied to the wheel of debt was a mistake. They did as you did & paid the mortgage FIRST even had a mortgage burning party when it was done. Home Base was now safe literally

 

Those who instead chose to party or borrow more than could be paid back pay a price...its called the going rate ????

Also as you say many now moan about years of misjudgement & want to blame something...call it "NEW" ..."DIFFERENT" UNBELIEVABLE!!

 

But it is the same as it ever was...market prices period

 

Those who chose to party elsewhere cannot have it both ways & expect those who remained in touch to have waited & held prices profit free for their exulted return ????

 

[Jeffr2]

On 2/8/2022 at 10:36 PM, GinBoy2 said:

I'm in no way trying to be smug.

 

But I come from a very poor immigrant Hispanic family. I know what it's like to be poor.

Both my parents were farm workers in the CA Central Valley, and we lived paycheck to paycheck.

 

I was lucky, I went to college, first one in my family and I made a good life, and eventually was able to provide for my parents in their later years

 

But I never lost that feeling of the fear of the insecurity of losing your home, ability to feed yourself and family if things turned South.

 

So please don't see what I say as smugness, but it's more a case of I know from family experience what the alternatives might turn out to look like

An American success story.  Thanks for sharing.  I wasn't in this same position, but both of my parents were.  Father was born on an Indian reservation, and suffered racism a good part of his early life.  Mother was a daughter of a Scottish immigrant and literally lived in a box while they picked fruit in California.  She literally wore gunney sacks for clothes.  Rope as a belt.

 

Dad ended up being a highly decorated Pilot in the USAF.  Another American success story.

 

Congrats!!!!  Like you, based on their stories, I never wanted to be like that either.  I've visited the reservation many times.  Talk about depressing...ugh.

 

We'll be back in the US next spring checking things out.  If housing prices drop, we might buy.  If not, we'll just get an RV again and cruise around.  The US is a great country for that.

[Jingthing]

If people enjoy preaching and gloating about how this real problem won't ever effect them, do what you will.

 

But that's not what this topic is about. The topic is about something real and dramatic that is indeed a very serious issue for masses of Americans, some of whom are potentially repatriating expats.

 

Such people can't possibly know the life histories including the financial aspects of everyone who may be negatively impacted by this dramatic and historic housing price inflation.

 

Cheers

[ExpatOilWorker]

14 hours ago, Jingthing said:

This hasn't been anything like normal housing inflation.

 

It's obviously hit a lot more non expats than returning expats.

 

 

Meanwhile rental rates are dropping like a rock in Bangkok. Some units have fallen by more than 50%.

[KhunLA]

Along with selling prices.  Daughter buying a townhouse, advertised at starting ฿2.99 and now offered at ฿2.4 ... ???? 

 

Along with <3% interest.  On a 30 yr mortgage, about the same she's paying (฿10k) now for her small condo.  She knows not to do the silly 30 yr thing, but if had to, hard to pass up, if knowing you'll be there for about 10 yrs, which she will be.

[Jingthing]

58 minutes ago, KhunLA said:

Along with selling prices.  Daughter buying a townhouse, advertised at starting ฿2.99 and now offered at ฿2.4 ... ???? 

 

Along with <3% interest.  On a 30 yr mortgage, about the same she's paying (฿10k) now for her small condo.  She knows not to do the silly 30 yr thing, but if had to, hard to pass up, if knowing you'll be there for about 10 yrs, which she will be.

Thai real estate?

This is about US real estate.

[Jingthing]

1 hour ago, ExpatOilWorker said:

Meanwhile rental rates are dropping like a rock in Bangkok. Some units have fallen by more than 50%.

Not same. Different.

[Jeffr2]

Inflation in december was 7%.  Numbers are out tomorrow and they're expecting it to me higher!  Ouch!!

[Yellowtail]

I'm pretty sure someone only getting $1500 a month in SS or SSI qualifies for section eight housing, "food stamps" and other benefits. 

[KhunLA]

1 hour ago, Yellowtail said:

I'm pretty sure someone only getting $1500 a month in SS or SSI qualifies for section eight housing, "food stamps" and other benefits. 

Not really, maybe, as still above poverty level, even if 2 in household, unless living in AK or HI.

https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines

[KhunLA]

2 hours ago, Jeffr2 said:

Inflation in december was 7%.  Numbers are out tomorrow and they're expecting it to me higher!  Ouch!!

Good thing I got that 5.9% raise for the 'year' ... ????????????????

[Yellowtail]

On 2/10/2022 at 12:37 AM, KhunLA said:

Not really, maybe, as still above poverty level, even if 2 in household, unless living in AK or HI.

https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines

From the HUD website:

 

 

 

 

[KhunLA]

On 2/10/2022 at 12:53 AM, Yellowtail said:

From the HUD website:

I know all about HUD / Sec 8, as a big part, playing slumlord, and how I retired early.  Socialism is a beautiful thing.  Can think of no better / safer investment.  Chester, PA, USA - 0 income applicants... doesn't get any better for the investor.  Low buy-in, low taxes, high rents ... cha-ching ????

https://en.wikipedia.org/wiki/Chester,_Pennsylvania#Demographics

 

[GypsyT]

I came back in November to check housing market in LA and had a plan to come back to live 6-7 winter months there. I knew prices were up but I never believed they were up SO much.

It's insane! A new bank failure's coming soon. The man made new bubble is going to burst.

 

The only place to buy for less than 350k is Ridgecrest, Victorville and Fresno (I use Zillow to check). They all are depressing shacks. In LA even shacks and garden huts are 500k+. A good, modest house in any where in California is 650+.

 

Las Vegas, and even Mesquite, are expensive too. I need dry and warm/hot climate (got rheumatism) so there are not many states I can live in.

 

 

[ExpatOilWorker]

16 hours ago, Jingthing said:

Not same. Different.

It is just the flip side of the same coin.

While repatriation back to the US is getting expensive, suddenly selling up and retiring in Thailand is financial very attractive. 

[EVENKEEL]

1 hour ago, ExpatOilWorker said:

It is just the flip side of the same coin.

While repatriation back to the US is getting expensive, suddenly selling up and retiring in Thailand is financial very attractive. 

Renting out the US house and retiring in LOS is a much smarter option.