General > General Technical Chat
First house for a young man
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cdev:
What I'm trying to explain is that we're in a really unhealthy cycle.
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I would be very careful investing now.

Try to stay debt free, if you can.
cdev:
When Americans like me talk about America, I think most of us, our loyalty is to a bunch of ideas, and people, more than a place.


Listen to that This American Life episode.  The world has a real problem right now with speculation. Its like a Ponzi scheme which eventually has to crash.
IanB:

--- Quote from: edavid on July 03, 2017, 10:43:52 pm ---in the US, an HOA full of picky people can be a very good thing for protecting the value of your property.

--- End quote ---

Yes, that's the story realtor's tell, but the reality is different. Most people are only suckered into an HOA once. When they move they will  try very hard never to be in an HOA again. HOA's take away your freedoms and limit what you can do (e.g. prevent you from parking in your driveway, or hanging washing out to dry, or erecting a TV antenna). Restrictive covenants like that can only devalue a property, never increase the value of it.
cdev:
Also stay away from adjustable rate mortgages.
 :bullshit: :wtf:
IanB:

--- Quote from: cdev on July 04, 2017, 03:53:08 am ---Also stay away from adjustable rate mortgages.
 :bullshit: :wtf:

--- End quote ---

Yeah, they really suck. Every time my friends refinanced to get a lower rate, my rate just went down automatically at no cost. That has been really terrible  ;D
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