Quote Originally Posted by BanginJimmy View Post
Unless you trash the place, it will be worth a lot more in 5-7 years than it is now. Prices are very low now because of inventory. In 5 years demand will have caught up with, and likely surpassed, inventory, therefore, prices will be higher.



Yes on the savings, no on the loss.



You have 40K in cash, you will be able to find a decent house for that money and you WILL turn a profit on it if you maintain it and improve it over the next 5 years. Unless the economy completely crashes that 40K house will be worth 60k or more in 5 years. If the economy does crash, that paid off house will be invaluable. You are in a win/win situation. The worst possible outcome is that you live in a paid off house longer than you really want to.
same principal, if my home keeps its value or raises, so will all the other nicer homes, so ill still have to save up that much more along with selling current home to obtain a nicer one.

i was saying my 40k house turning into 30k house, and 70k houses turning into60k houses, so id spend 30k to upgrade.
but if my 40k house moves to a 50k hosue, the 70k house will have moved to an 80k hosue, so i still pay 30k to upgrade.

so the "gain" on my house wont mean anything bc that money goes straight towards another house, still with no financing available.

i do understand im i na win/win situation and "1 up" on many my age (23) but i jsut want to have another 40k by 25ish but then with that 40k id like to waste it on cars ect, but ill want to upgrade houses, and i jsut feel there isnt enough time for me to "have it all "(a nice house and ballin out on car) in my prime years (25-35)