Is buying a home in the US a good idea anymore?

I think that before the housing bubble burst there were some plans for home inspections under the idea of a green agenda.

The homeowner would be charged for the inspection, like a safety sticker for a vehicle and then would have a certain amount of time to make improvements or repairs and if they were not made then there would be fines and possibly a lien placed on the property.

With a drastic fall in home values, such a scheme was not workable.

Also to consider is the use of smart meters and property tax that never seems to go down regardless the value of the property.

Zoning changes pursuant to "Agenda 21", sale of local municipal water rights to others, and other onerous changes that could make keeping a property a liability, not a good investment.

What if you just bought a home in San Francisco, LA or Portland and Fukushima collapses?

Just rent, and let the owner worry about it all. If the property is owned by a bank there is a good chance they aren't paying property taxes on it because of some kind of abatement. Google search "abatement".

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reply to post by wonhunlo


And don't bother to vote either. The elections seem pretty much rigged.

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Buying a home in the U.S. is, for the most part, a bad idea. Personally, I could see the use in buying a home in a rural territory or buying up a cheap house and then renting it for extra income. Other than that, I don't see much worth in it.

Owning a home in a large metropolitan area is a bad idea.

We bought a nice brick home, 1800 sq. ft, solidly built, on 5 1/2 acres in an isolated area. We got a loan from a relative and kept the banks out of the loop altogether. We got a killer deal, it is very cheap to live out here, and our property taxes are very low. The relative with the money is elderly, and no paper was passed between us. He let us know that, if he passes, the debt is considered paid in full.

If you're going to live in the city, it's probably better to rent, because everything seems to be so much more expensive out there, but it helps to remember that, unless your property is paid in full and you can afford the yearly property taxes, taking out a loan from a bank and "buying a house" means that it isn't yours until it is paid off, which for most people is 30 years. It's not home ownership, it's renting the house until the final payment, but you have to keep it up, paint it, pay for all repairs and yard improvement and care. Try missing a few payments and see if it's still yours.

A rent house means that the owner is responsible for all repairs and taxes. Renting is actually a better deal for city life.

This probably isn't the best place to look for financial advise.
While I realize that the economy is #, and there is obviously an easy answer. If you hit the lottery by all means, live your life, it's short. Should you buy a house after working through 30 years of paying mortgage, no. But I'd say that despite the economic crisis. If I had enough money, or had the chance to sell out, I would. In a heart beat, then the next second take every willing person I care about as far away from here as we can go, with what ever resources we need to find a sustainable lifestyle (most likely in SA, possible Chile or Argentina). Maybe an Island (always been a dream since I was a child).

I saw the hand writing on the wall in 2003 and sold. The guys around the water jug couldn't believe I did it. I told them that the government would own every home owners soul.

going on 10 yrs later, was I a prophet ?