We love watching House Hunters on HGTV. However, on the International edition of the show, I constantly find myself shocked that people will spend $400,000 to $3,000,000 on a house in a country that has a quite unstable economy and government. (My uncle had a lot he owned seized by the government when it was taken over by a new faction.)
Then again, I own a house in the US, and we have an unstable economy and government.
We love watching House Hunters on HGTV. However, on the International edition of the show, I constantly find myself shocked that people will spend $400,000 to $3,000,000 on a house in a country that has a quite unstable economy and government. (My uncle had a lot he owned seized by the government when it was taken over by a new faction.)
Then again, I own a house in the US, and we have an unstable economy and government.
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The USA has a strong constitution and law system that allows it to have stable property ownership. And I'm in Canada where things are a heck of a lot more stable than the USA and I consider the USA one of the most stable home ownership countries on the globe.
I've seen that house hunters international show and I don't know why anyone would pay those prices in those countries that lack a strong constitution or law system.
The biggest problem in the US is the 24 hour news channels constantly preaching doom and gloom. I suspect mcp has been watching too much FoxNews.
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well congresional republicans are refusing to raise the debt cieling unless medicare is disassembled, and they have promised to cut social security too. with unemployment still high and home values falling the problem isnt the media, its the situation
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My house just appraised for 18k more than I paid for it 5 years ago. Unemployment is about 6%.
Correction 28k.
??? Nat'l unemployment is about 9% as of the last time the numbers were run. Not picking a side in this argument (I'm real glad I didn't listen to the "your home is an investment" morons, but then again, I'm also glad that I bought a house, or at least was until other considerations made me put it up for sale) but at least get your numbers right.
nate
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appraisal is one thing, finding a willing buyer who can get loan approval is another story.
homes were fine investments till people began using them as ATMs to take money out.
we can thank congress for that, when they ended the tax deduction on credit card interest. people rolled the debt into their homes, and the rest is history.
I was referring to central TX. Real estate, has, and always will be, about timing. I made so much money buying and selling that It would take a complete financial collapse to lose. I even made money in the last 5 years. People have been predicting the US financial meltdown as long as I can remember. You can hide all your money under a mattress or you can take some risks. The one's taking risks are fueling the economy and making the money.
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