Reply to I think the bubble is popping.

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My house rents for 6k a month. My neighbors house is rented. My mortgage plus taxes and home insurance around $3,600
A month. I put a big downpayment.

I am not fire selling my house even if I downsize in retirement I will rent it out.

My neighbors house is mortgage free and 80 year old owner has it rented 15 years since he retired. [/quote]

If that’s all you’d make a month, it could be better to sell the house and not have to worry about the property and maintenance expenses. Invest the money, you’d most likely make way more a month and not have to deal with the hassle. [/quote]

In my neighbors case at 6k a month I highly doubt he reports all the income and will leave the house to kids tax free. He has $1,000 a month property tax and my has been rented a long time.

My neighbor who is 50 told me three houses from me a house has been rented at least 45  years by same owner!! He grew up on block and was rented as a child. The owner is in his 90s. I did digging he bought it as an investment in 1975!!!

I think these folks are passing houses on. [/quote]

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