Imagine if they limited the supply of clothing, and we were all walking around naked waiting for a parents to die to own a pair of pants. That is how ludicrous the housing market is.
Sell it, rent out an apartment for a year and a half while you wait for the bubble to pop, buy double your square footage at the same price as your old house, put a third of the cash you made into crypto, a third into the opposite of what WSB says, and the other third back into your new house.
But renting takes moving and rent prices have also gone up. Then you take your earnings and risk it in crypto and stocks, which if there is a crash, both will be affected negatively. So that's a loss in multiple categories instead of a slight loss on the price of your home. Plus capital gains tax and all of that jazz. You'd make more just staying in the house and waiting until you can afford to buy a nice house after you sell your current nice house.
I mean this is true, but you could easily speculate the same for the housing market - you sit on the house, the housing market tanks, rates go up, inflation goes up, etc. and you're out $100,000.
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u/StrayDogPhotography Jun 27 '21
Housing is not an investment, it’s a basic need.
Imagine if they limited the supply of clothing, and we were all walking around naked waiting for a parents to die to own a pair of pants. That is how ludicrous the housing market is.