House is a forced saving

[Broly46]

Guy often tell me house is a force saving. By looking at the market today, full of scammer roaming around, and countless unsavoury characters and get rich quick scheme, jobless highly educated youth. I conclude buyhouse is not only a “forced saving” but also a “save yourselves”.

We often heard about a lot of highly educated youth had no jobs, underemployed, which is very bad today and getting worse day by day. What they often failed to see is it has been norms in the past, do you not know every scientist is borderline poor and bloke, Albert Einstein is not rich, Newton Isaac is bankrupt poor on south sea bubble, Wright brother is poor, we often read about how great are scientist on the textbook who create useful invention to improve life, but there is a catch, the textbook conveniently never mention the scientist personal wealth, it’s apparent textbook censor the information they do not want the kids to know all the scientist are living paycheck to paycheck and borderline poor, where they often has to wagecuck and sell their IP to the government to make a living, if they failed to create any IP they would be rejected just another bloke we often see on the street today, is homeless educated guy not often in the past?

Friedcat of the bitcoin is the modern day jobless highly educated genius, he is often regarded as “genius youth who is living a frugal life”, despite awarded with scholarship, and secure the top spot in the top business school, the guy goes on and create very useful product, create the asicminer, but very quickly the guy just simply goes broke and fall into endless debt burden, his company is broken, life broken and going missing forever after he couldn’t pay the debt he owned, oh how ironically he is just the modernise Newton Isaac in disguise, such a nice addition, so guy listen, keep following the advice of go to school and study hard get good grade, get a good paying job with benefit, you would eventually made it in life, miraculously and magically you would be living happy ending life, it’s fine guy!

Then I’m often getting bombarded with doubt “Do you have a better system than existing one? Do you?” Obviously I don’t have any and I would never come up with one, keep trying to beat the house and to realise how great/lesser a person you are.

House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and it’s fine. Because bank want to increase revenue, increasing house price is what the bank did, by increasing house price, guy would take more loan to buy house, that way bank can increase revenue by increasing house price and increasing the loan to buy house, then bank can charge interest on the house loan to make profit. But what I often heard is guy tell me to debt maxing on house loan, don’t care about saving, it’s a recipe to disaster to me. So guy today hope the house price to collapse and they can shop house on the bargain, that’s one wishful thinking, the bank cartel and house developer wouldn’t allow that to happen, reduce house price would make it bad for bank to sell more house loan, and bad for developer too, the blackrock would stop that effort, however as usual some guy would loss everything due to greed, if over leveraged on house loan, would loss everything.

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[MarjorieZimmermanGinger]

Guy often tell me house is a force saving. By looking at the market today, full of scammer roaming around, and countless unsavoury characters and get rich quick scheme, jobless highly educated youth. I conclude buyhouse is not only a “forced saving” but also a “save yourselves”.

It's still speculation.
I mean a house in the wrong use will not be able to provide any results, except for people who are married and need a decent place to live.
Utilization of the house can be classified into several functions.
1. Residence
2. For rent
3. Business

We often heard about a lot of highly educated youth had no jobs, underemployed, which is very bad today and getting worse day by day.

This is a fact that actually happens, education does not guarantee someone can improve their standard of living for the better, because the function of education is not only about finding a job.
Instead, we will be able to get out of the poverty line, when we have the skills and expertise in our respective fields.

What they often failed to see is it has been norms in the past, do you not know every scientist is borderline poor and bloke, Albert Einstein is not rich, Newton Isaac is bankrupt poor on south sea bubble, Wright brother is poor, we often read about how great are scientist on the textbook who create useful invention to improve life, but there is a catch, the textbook conveniently never mention the scientist personal wealth, it’s apparent textbook censor the information they do not want the kids to know all the scientist are living paycheck to paycheck and borderline poor, where they often has to wagecuck and sell their IP to the government to make a living.

We are always faced with how to solve our own problems, depending on the government is a backward thinking system, they (the government) cannot reach all levels of society, so it is not right to expect full from them.
That's why the skill and courage to get out of the comfort zone is the style of people who have a life vision for success. Bitcoin provides opportunities for anyone, depending on how we use it and everyone has the right to choose a way of life with their own pattern, but I think bitcoin is the solution to the problem you wrote about at length.

Then I’m often getting bombarded with doubt “Do you have a better system than existing one? Do you?” Obviously I don’t have any and I would never come up with one, keep trying to beat the house and to realise how great/lesser a person you are.

The choice lies in the way you move and think, technology is developing rapidly nowadays, everyone can learn about existing or new investment models.
Personally I prefer investment ?
1. Bitcoin
2. Gold
3. Land
The three investment models I mentioned can maintain currency values, regardless of inflation or not, and maybe you don't need to believe what I say, but technological developments provide a lot of information that you can dig into to make a decision.

House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and it’s fine. Because bank want to increase revenue, increasing house price is what the bank did, by increasing house price, guy would take more loan to buy house, that way bank can increase revenue by increasing house price and increasing the loan to buy house, then bank can charge interest on the house loan to make profit.

The biggest mistake people make is buying a house using a bank loan, did you know that the financial system has different interest rates, we are forced to take money from them, then told to return it at a predetermined time. Interest rates can ensnare us in new problems, because if we cannot cover the installments, then there will be a finality given, even worse when several times we do not pay the installments, the collateral we use is sold according to a predetermined agreement. Our lives cannot be controlled by others, there are still many ways to get out of the Bank system.

Bitcoin can be a solution to the problems that people face, many people have managed to get out of financial difficulties by using bitcoin, but not everyone is successful, if they don't understand how best to invest in Bitcoin.
Fluctuations and risk are two things that society will face, and it is important to know them thoroughly, so that we do not fall into fear and panic when bitcoin undergoes a correction.

[bitmover]

House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and it’s fine.

This is all wrong here.

House prices are not soaring, it is exactly the opposite. Interest rates are high , less people can afford a loan because it is expensive now. So less people buy houses , less demand = lower price.

Anyone should be careful about making debts now as interest rates are rising all over the world.

[Flexystar]

Houses get old, houses go into maintenance and they depreciate in value over the time. I am pretty sure this is not the case as mentioned in the OP. 

They are only valued if they are some sort of big houses like mansions with its own property (land/garden/ponds/golf ground) I hope you have imagined already what kind of property I am talking about here.

Those are the properties which gets highly paid over the time. However, most of them get valued based on the “real estate land” and its location.

But usually that isn’t the bucket for everyone out here. So look for the properties right, not every of them would appreciate in value all the time.

[Zlantann]

Sometimes I feel very sad when people feel that success is all about having so much money to spend on luxury. Going broke and lacking the ability to provide basic needs is not a good experience and being in debt makes life very difficult and sometimes unbearable. But OP mentioned some notable inventors that were not rich because their main goal was not to make a profit. Most of them just had the intention to use their discoveries to bless humanity.

In my country the mortgage sector is paralytic, hence we don't have a government sector or many private firms that can satisfy the mortgage needs of my countrymen. Most houses in my country are built with personal savings.

Housing can be for personal use or business. Taking a loan to build your own house would be beneficial if the interest rate is low and it helps you to save money that would have been spent on rent. Also, the population of my country is growing rapidly and it has led to high demand for housing facilities. Taking a loan to build a commercial house might be a very profitable investment.

[passwordnow]

I often see those folks that are financially free to purchase their houses in cash so that the banks won't have the interest from paying that for so many years.
While I see the strategy of some rich people that they're leveraging it highly and they're maxing it out so that they can pay less for the mortgage but for longer years and it is their businesses that will pay for it.
They don't want to put out huge cash for it as they'll just have to allocate that on their business to make more money instead.

[Fortify]

Guy often tell me house is a force saving. By looking at the market today, full of scammer roaming around, and countless unsavoury characters and get rich quick scheme, jobless highly educated youth. I conclude buyhouse is not only a “forced saving” but also a “save yourselves”.

We often heard about a lot of highly educated youth had no jobs, underemployed, which is very bad today and getting worse day by day. What they often failed to see is it has been norms in the past, do you not know every scientist is borderline poor and bloke, Albert Einstein is not rich, Newton Isaac is bankrupt poor on south sea bubble, Wright brother is poor, we often read about how great are scientist on the textbook who create useful invention to improve life, but there is a catch, the textbook conveniently never mention the scientist personal wealth, it’s apparent textbook censor the information they do not want the kids to know all the scientist are living paycheck to paycheck and borderline poor, where they often has to wagecuck and sell their IP to the government to make a living, if they failed to create any IP they would be rejected just another bloke we often see on the street today, is homeless educated guy not often in the past?

At the moment it feels like we are hovering near record highs and a small correction to house prices should be coming in the next year or two. However it could vary wildly between countries, some countries might plateau, others might see a dip similar to the financial crisis where it took maybe 5 years to recover, but ultimately it seems buying a house is sound advice. What is the alternative? You will simply be paying off someone elses mortgage instead, so if you can get a mortgage and deposit together it seems very wise to make the leap into home ownership. However younger generations now seem further than ever from owning a house because they have risen so much in previous years and wage increases have not kept pace.

[arallmuus]

House prices are not soaring, it is exactly the opposite. Interest rates are high , less people can afford a loan because it is expensive now. So less people buy houses , less demand = lower price.

Yeah most people seems to be confusing the difference between the actual price for houses and the interest rates including the price of the houses. Either way, throwing away huge amount of cash to buy a house / property to avoid all these interest is still a no go though. I'd still rather take on these interest over years instead of paying lump sum amount

I often see those folks that are financially free to purchase their houses in cash so that the banks won't have the interest from paying that for so many years.

Only if you are rich enough to throw in lump sum, otherwise it wont happen. The actual price for houses is actually high enough for most people to afford and not alot would be able to afford to purchase it in cash

[coupable]

Investing in real estate is generally the safest type of investment. And for those who were not fortunate enough to obtain higher educational degrees or even those who have a good career position and want to invest their money, investing in real estate represents their best opportunity. Bearing in mind that when the property is in the form of a plot of land, it is safer than homes because homes require constant maintenance and cannot be changed or modified as necessary.
Personally, I prefer investing in agricultural land or in precious metals.

[Fatunad]

Houses get old, houses go into maintenance and they depreciate in value over the time. I am pretty sure this is not the case as mentioned in the OP. 

They are only valued if they are some sort of big houses like mansions with its own property (land/garden/ponds/golf ground) I hope you have imagined already what kind of property I am talking about here.

Those are the properties which gets highly paid over the time. However, most of them get valued based on the “real estate land” and its location.

But usually that isn’t the bucket for everyone out here. So look for the properties right, not every of them would appreciate in value all the time.

If we do really invest or put up money on real estate's, then the main consideration would really be on its location whether its placed within the city or into the vicinity which it does have potential for future development.
Its true that appreciation of lots and buildings is really there but not all the time where it do ends up on positive plus its not something cheap for someone to make out investment through it.
House is a liability yet it do really consumes out maintenance or something that would really be giving out expenses unless if you do have a house and it is for rent then it is
something considered as asset.We should know on how to differentiate in between things.

[dothebeats]

If you have the capacity to sit on your real estates for a long time, I don't think it's hurting you in any way. The price of houses appreciates and depreciates, but so long as you have one that is situated in a very good spot, its price won't go anywhere but up. I've seen a lot of houses -- or even lots -- go up in value even though other houses on other areas continue to decline. Location is king in real estate, and the more you are close with a lot of things, the better it is for you even if you end up having a hard time paying for its mortgage. You will also have a backup home if worse comes to worst. Maintenance would be hell though, but if you can buy a house, you most probably can afford its maintenance as well.

[OgNasty]

The reason people say that owning a home is forced saving is because most people don't save at all.  Paying down the principle on a loan while maintaining the value of the asset like real estate does, builds equity, which for a lot of people is their only form of wealth.  History has shown that you would do better to invest in the stock market, but most people are afraid of the stock market, while owning a home is typically a source of pride.  I'm not against owning a home, but you should own a home if you want to live there a long time or think you're getting a great deal.  Saving more money in a 401K or just investing regularly will over time build more wealth.

[passwordnow]

I often see those folks that are financially free to purchase their houses in cash so that the banks won't have the interest from paying that for so many years.

Only if you are rich enough to throw in lump sum, otherwise it wont happen. The actual price for houses is actually high enough for most people to afford and not alot would be able to afford to purchase it in cash

Not only the rich can do that but those that have a successful business and they're at the middle income. Yeah, it's true that the house prices right now are quite expensive, and can't afford to pay in full. But that's why there are house mortgages and that's a way for the banks to give loans to those who want to purchase their houses but that's with interest. And not everyone who dreams of having their own home can be eligible for those bank loans.

[palle11]

but you should own a home if you want to live there a long time or think you're getting a great deal. 

Experience has shown that people don't buy houses to live there but they do that as investment for the future. They acquire it and put it on rent or lease it out and on the long run it will become something to rely on for financial support. I have witnessed this alot when the man dies in the home, the children and wife rely on the investment of the man including land and houses for survival. So it is wise to buy houses incase the future isn't as planned such house will be sold for financial support to restart the finance of the family.

[The Sceptical Chymist]

Friedcat of the bitcoin is the modern day jobless highly educated genius<snip>
he is just the modernise Newton Isaac in disguise<snip>
keep following the advice of go to school and study hard get good grade, get a good paying job with benefit, you would eventually made it in life, miraculously and magically you would be living happy ending life, it’s fine guy!

Dude, we've all been lied to.  Some get angrier about it than others if and when they realize that fact.

I'm a poor historian of bitcoin and the development of mining, but comparing the inventor of the ASIC to Newton is stretching it harder than Mr. Fantastic.  As far as getting an education goes, I'd say most people who studied hard and studied a subject that didn't lead to some frivolous puff degree (like gender studies) probably found themselves in a competitive position as far as the job market when they graduated. 

One of the problems is that there are more people than ever going to university, and it's getting more expensive.  A degree just isn't as valuable as it once was--unless it's in something like nursing, pharmacy, engineering, and STEM fields.  As I mentioned, if you get a degree in history, political science, or any of the liberal arts offerings, what kind of career does that prepare you for?

And hey, don't get too discouraged.  It's a fucking nightmare of a time we're living in right now, and I think we're all pretty on edge about a lot of things.  Take a deep breath and be grateful for bitcoin at least.

[stomachgrowls]

As an user mentioned owning a house have turned to be a source of pride. Constructing a house for our long need is different, but constructing a house for pride with loans is bad decision. When it is applied to commercial purpose, atleast it'll bring some revenue. In third world countries people having a good house is rich and that too a reason why people prefer on house over stocks and other forms of investment.

Cant really deny this fact on which whenever you do build a good looking big house then people's impression would be changing up or would be automatically tell to themselves that the one who owns it is rich.

We know that we do have that pride or ego that being praised like that is something that could bring up some good feeling but its not really that right as this would tolerate you up with that kind of mindset

which might cause up some unwise spendings or investments on other things which it would be more rather worth if you do put it up on something which could bring out more profits
rather than on buying things which doesnt generate income.Well, we do really have wishes and goals in life like having a good looking house and other things that will give out
comfortable living but we should really be having those balanced means.

[Darker45]

A house is indeed a wise investment and a great saving. I mean, a house and lot. But it also depends on where you are. Apparently, there are countries where the prices of houses are fluctuating. In my country, however, it seems it is continuously growing. Everything might have something to do with a ballooning population. High-rise residential buildings are now sprouting from everywhere. Subdivisions are now extending beyond the suburbs toward what used to be unimaginable for a house location. It is also noticeable that aside from the rising prices, lot sizes and houses are also getting a lot smaller.

[amishmanish]

Big corporations have ensured that we fight  for basics like housing and healthcare and keep working for life. This will ensure robust economy which otherwise is not possible. I guess we are already on edge and now we need a reversal.. we need right not to work.

[mindrust]

That’s true. Especially if you don’t own a place to live, getting a mortgage is the best investment you can have in the long run. The rates went too high lately but the prices ain’t coming down but eventually they will. I suggest you to wait a bit more before buying a house right away. The economy will only get worse before it gets better. Housing is the biggest expense of any middle/low class working person probably so the earlier you get rid of that cost the better it is for you.

[Gozie51]

I suggest you to wait a bit more before buying a house right away.

You know you won't keep waiting for the economy to get better before you start building a house if you have the money. Taking into cognizance that inflation keep increasing yearly because the cost of building materials now will not be same in next five years. At least the present economic situation has proved this that past inflation and costs are lower than what they are now. A stitch in time saves nine as it is a popular saying.