Reply to Should current homeowners wish for home values to decline?

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[quote=Anonymous][quote=Anonymous][quote]OP it's not unique to the US. I recently sold a property that I inherited in a very poor country in Africa. I was expecting maybe $100k and I sold it for $500k. We are talking about a country with a GDP per Capita less than $1000. Of course I was happy. I am even more happy that I sold it now because it's clearly a bible waiting to beust, but then people over there told me the increase in property values has been constant for the last 20 years.

[b]We will simply reach a point where wages won't be able to keep.up and only a fraction will be able to buy. When we get to that point what will happen to home values then? I don't know.

In the context of get US assuming immigration is severely restricted, low birth rates consist and aging accelerate, in that scenario can we still expect home values to keep rising? Again I don't know[/b]

One thing is clear every single homeowner wants endless increase me included lol.[/quote]

I think you answered your own question. Major political change due to economic stresses. We are already seeing it. Dollar is being devalued. Markets collapse. Your home relative to [b]the strength of the dollar will weaken as an asset. But hopefully you view it as a place to live and not an appreciating asset. [/b]When you consider taxes, insurance, and maintenance it's not really a great "investment" anyway unless you get lucky with your location improving or something like that.

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+1. Well said. I always tell anyone who wants to buy a house to look at as a shelter first and foremost. [/quote]

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