How can a cheap American buy a HOUSE in the 1st. World ?

Well thats like I'll give you $1000 if I can have it for free

 

:idea:

 

I would imagine that a similar scenario to dead boats will happen with housing. Particularly second...Vacation homes... in the sun. The house will grow worthless and only the land it is built on will retain its value.

 

Hmmm On the macabre side. In Mexico! "You can have the deadmans watch for $25, or, take the corpse and all it's acoutrements for free and we'll throw in a second corpse as bonus. Disposal is difficult and costly for us."
Just funnin, sick, but funnin

 

Only the land ever did had value. With exception of a place to live, I've always invested in raw land. if it burns, it grows back. If it floods? it repairs itself. Nobody can steal it or vandalize it. And untill you build on it, taxes are minimal and insurance 0. The rental properties we have here in Mexico are all together and we live in one unit. Florida house is rented, but originally I lived in it, and it's still my legal official adress.

 

There's places where you can buy a perfectly sound house in this country for under 40k these days. My plan is to just wait it out and buy cash in as nice a location as possible. Water access a huge plus as well as acreage. Might think of something up in the PNW or something with access to the Mississippi river. Depends on what I can find and for how much.

My peeps tell me the market is a long way from bottom

 

I also hope the market gives us average guys a chance to pick up some waterfront or canal property uninflated. The trick is to wait until it bottoms out and get it right before it starts to go back up, before sellers get a sense that it's on the up. I think it might be 1-2 years. Foreclosures were down this year, but that may have been paperwork changes.
Currently banks are being real tough and not giving out many mortgages. They are sitting on the government money. They are not confident in their ability to screen people, so they're being super tight with any mortgages. That is going to keep the housing market down until the mortgage system is redone.

 

There's usually good deals on beach property in Arizona, I hear.

 

who said anything about a mortgage, thats just handing over more than you need to. Save your nickles and dimes and pay cash. Screw the bank. I plan on walking in and offering a low ball cash offer. I'm counting on the banks being desperate for cash and staring at countless homes on there books.

I'm not out to help some bank out by signing over to them the right to create money out of thin air with a mortgage. That just makes me part of the problem. Nope I'm going in cash in hand and haggling with them. I'll start at maybe 50% of what they are asking and if I'm really interested might go to 40% but I'll be sitting there with a brief case full of cash when I do.

I've paid cash for everything I've ever owned, no mortgages, ever.

whats really fun is negotiating for a car, in that case you want them to believe they are going to be financing it, they'll give you a better price thinking that they'll hose you with the interest. Then once all is almost said and done and they've got all your payments all figured out and the whole show, last second before you agree to it, bust out the cash and start counting. My credit rating is zero so they really try and do a number on me with the interest and the "special" financing. I always get a bang out of watching them squirm once I bust out the cash

cheers
B

Oh and I think looking for absolute bottom is a mistake. Close enough is what I'm after. But I think absolute bottom is at least 2 years away and more likely 4 so I'll start seriously looking in another year or so

 

middle of nowhere Missouri has the Missouri river that will get you to the Mississippi

there's also dirt cheap land in Alaska and there's so much water front up there its ridiculous

 

House buyers follow the jobs. A region with good paying jobs will rapidly recover from the current slump. Dont know anything about Colorado...do people work out there ?

 

Actually inland tributary watefront is a good place to look for waterfront property. One problem with waterfront in most regions is that it is heavily regulated. Both environmental and density issues. These always inflate the price.

 

exactly

I'll almost certainly be buying on an inland water way and going from there. Its a safer haven for the boat as well.

 

Not long ago Wyoming counted sq miles per person residing in the state. Butmost recent census got them almost 5 persons per sq mile. Must be lots imigration there. No income tax. 4% sales tax.

http://en.wikipedia.org/wiki/Wyoming#Population

Park your boat on a mountain top and wait for a pole shift!

 

not happening but thanks for the tip, Nebraska has the Missouri river running its northeast boarders and it runs right smack through Missouri and some of a few others south east of there. There's loads of land along that stretch assuming thats where I was aiming. I'm thinking PNW though so for me the games up in Alaska, I can always park the boat for the winter and come hang out here.