I sold my house a year ago. Paid everything off, and bought a reliable vehicle (cash). Have 40k leftover in random accounts.
I'm in Phoenix.
Houses that were 220k before the recession dropped to 60k, now they're back up to 240k. One is selling near here but it's 215k. To do a down payment it'd be around 42k at 20 percent to avoid mortgage insurance. I'm being pushed to buy and know someone who just sold/repurchased but you're basically handing away cash for debt imo.
I'm not sure if it's wise to buy, the way I see it I'd have to hang onto the house for 10 years to make money. Plus the houses in question are basically starter homes. It would remove a fair amount of freedom I have. Thinking about just throwing a trailer on some land.
Submitted November 20, 2020 at 05:39PM by EzekielBlake https://ift.tt/2ULnICX
