powellperspective.wordpress.com - 28 days ago
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Is a Home an Investment?
Mish's Global Economic Trend Analysis —
Here is an interesting video by Pete Schiff that discusses in what instances homes are investments vs. speculation vs. just a place to live. I agree with Schiff that for most people who own and live in their own home, the best way to think about homes is as shelter. The mistake many made was thinking that home prices would rise forever, and somehow those rising home prices would support retirement. We have since seen how fatally flawed that idea is. Schiff labels as speculators, those buying multiple homes hoping for price appreciation. Again I concur. Some who got out at the right time made ...
Home Is Where the Bad Investments Are
Minyanville —
This week, Pete Schiff discussed what instances homes are investments, when they're speculation, and when they're just a place to live. And I agree with Schiff that for most people who own and live in their own home, the best way to think about homes is as shelter. The mistake many have made was thinking that home prices would rise forever, and somehow those rising home prices would support retirement. We've since seen how fatally flawed that idea is. Schiff labels speculators as those buying multiple homes, hoping for price appreciation. Again I concur. Some who got out at the right time made fortunes, other who held on too long and couldn't sell or make ...
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