Seems like times are tough right now

[GA-Silver]

So, is owning real estate not a good investment these days?

 

[Psilloh1]

So, is owning real estate not a good investment these days?

Depends on your short/long term plans?
Second home, Rental investment…?

 

[suomi82]

The Millennials are the ones I worry most about.......

You have to be more specific, the first or second generation of millennials? Us older ones are not much different from boomers, except we can use computers, we can't afford healthcare and education puts us in debt forever lol

 

[CAMSDADDY]

Greatest fiscal lesson I ever taught my son was when he was trying to decide to purchase something when he was young. "That is as much as you make mowing the lawn, which takes a lot of sweat and takes you over two hours. Is that worth over two hours of sweating for you to have it?". The light that went off was immediate and stuck. Oh yeah, he didn't buy it.

I share that thought often. I sometimes don't give it much thought. I give my kids this example and obviously my coworkers. The other day one of my coworkers quoted me and said it changed the way he looked at money a few years ago when I made the statement. When he goes to make a purchase it ask if its worth xx # of hours of work to buy it

 

[Cadcom]

So, is owning real estate not a good investment these days?

Owning it is fine. Buying it now would be financial suicide of the "Buy High - Sell Low" magnitude.

 

[GeauxLSU]

I share that thought often. I sometimes don't give it much thought. I give my kids this example and obviously my coworkers. The other day one of my coworkers quoted me and said it changed the way he looked at money a few years ago when I made the statement. When he goes to make a purchase it ask if its worth xx # of hours of work to buy it

Yep, "Time is money". Old sayings hang around for a reason.

 

[GeauxLSU]

So, is owning real estate not a good investment these days?

In the long run, it's almost always a great investment.
Buy close in rural outskirts.

 

[Spas-12 Owner]

In the long run, it's almost always a great investment.
Buy close in rural outskirts.

This is good advice, if buying real estate, just remember to buy lower then you sell.

Wait it out. I know people right now that will retire in their 50's comfortable because they waited out the last drop.

I also know people that have struggled for years in getting back in their feet because they just walked away to late in the game from their homes... loosing $100,000's and are still struggling.

Like everything, it's just timing the market.

 

[GeauxLSU]

Another example. I work for a generous company. Our Christmas bonus is an extra two week pay check in December. I knew that was customary when I joined. I said then all bonuses (this one and a large annual bonus) would go into retirement savings. Lots of people burn it on Christmas gifts etc. If I can't fund Christmas through my regular earnings, I'm living beyond my means. That's the #1 financial demise of most people.

 

[titan2k10]

Millennials are quick to look everywhere but the mirror for their own problems. That being said, it's funny as hell seeing the boomers in this thread **** on millennials when they don't even use a credit card and pay it off at the end of every month, literally free money, or know jack **** about investing strategies and other financial vehicles other than precious metals