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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Comments

  • I know I don't know how to invest for the end of civilization as I know it.

    I know I have some investments that have been sitting around through 30~40 years of sturm und drang, I wish I had had more to invest at the time.
  • In a number of respects we have already reached the end of civilization as I know it. I think that Trump and Putin were the last straws.
  • If you own the deed, you're always better off. But prices and mortgage rates today? No way. And for a professional student like me who can't drive a nail straight, professionals would need to be called in to do any repairs. That would make repairs ALWAYS an expensive proposition.
  • If you're home appreciates at a nice investment percent, that to me is an additional benefit. What I always felt most important is when you own, part of that monthly mortgage is paid back to yourself in that you end up with equity. Paying rent, to me, is just money down the drain. You'll never see it again.

    Maybe this is truer where I live in the suburbs of Rochester NY. Property taxes are huge here, often more than the mortgage payment, but still the difference between ownership and renting a comparable property is not drastically different. Mortage payments can be fixed. Rent will always rise. Maybe this isn't true in big city areas where starter homes can be close to a million, but it is here.

    @Crash, mortgage rates have increased, but they are still lower than when I bought my 1st home in the late '70s. I had a mortgage rate at ~14%. I think right now mortgage rates are around 6%-ish. They will come down again and when they do todays buyers will refinance at lower rates. That's how it works.
  • @MikeM. Gotcha. Of course, Hawaii is super expensive. And Honolulu is the most expensive. I would not choose to own, unless I could go back to my teens and re-orient my entire life so that I had some level of interest in things practical, technical and mechanical. The maintenance overhead never goes away, no matter where the house is.

    Rochester is snow country, but you also have the universities. So, there's THAT. I lived in the Southern Tier for 5 years. The sky never needed a reason to throw snow down on us. Miserable. In nearby Olean, NY, you can still buy a house for $60,000.00. "Location, location, location." STILL, it would not be worth it to me. I pay rent, but the headaches belong to the Landlord. We seem to have found a trustworthy, reliable guy. Something to be glad about in such a stinky year.
  • Your point is well taken @Crash. At this stage of your life it wouldn't make sense to buy anything in Honolulu. But just living in paradise must be pretty nice.

    Rochester was once the jewel of NY state when Kodak, Xerox and Baush&Lomb all were in their heyday. George Eastman essentially built the U of R and much more in this city with his philanthrope. All these companies still exist, but at a fraction of their previous selves.

    Enjoy your sunshine. Ours is due back in about 5 months:)
  • 5 months? Lucky you. Wishful thinking while hiding in my igloo deep in Viking country.
  • My figure ignores all capital improvements (nothing huge yet) and maintenance (some significant)

    So yes to all responses; part of my point
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