Property/Investment Chat

[Porter]

No kidding, I thought people upsized upon retirement. 🙄

Let's see. Buy apartment for 100 with loan of 70. Wait 30y and pay off loan. Covid 2053 crushes condo values so you sell it for 100. Yes, you "created" 70 of equity but what is your IRR? Let's not confuse investment with building equity.

Not sure why I hit a nerve. Not trying to say owning is bad. Anyway, let's move on to cars. I'm curious what @VL3X is getting!

Lol a condo. For $100k! What part of the country are you in again?

Also, you literally said that owning your own home (primary residence) was a bad investment and implied that people shouldn't do it. That's how this whole conversation got started.

 

[TomE]

Folks, the property/investment stuff is off topic. When I get time I'll move it to a new thread and you can continue over there.

*Mod note: Posts moved to this current Off Topic thread.