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Topic	Invest in stocks, or try to get a condo?
Zachnorn 03/29/21 2:02:56 PM #26:	foolm0r0n posted... I just bought a house that's technically a condo. I think it's a good investment but it really has to be in the right market. All the markets are insanely inflated and hard to buy in right now, but LA is going to be one of the worst buyers' markets in the entire country, plus so many people are fleeing the city that the future returns are not as attractive. For example I heard San Diego is really good due to all the LA exiles going there. I really hope that the housing market just stops growing. There's no way it's sustainable at this point. foolm0r0n posted... But in general, yes invest in stocks by default. It's 8-11% per year, despite massive economic depression, and shows no indication of changing. Not sure why you have 50k in savings. You should have 3 months worth in liquid emergency cash at most. (Stocks are highly liquid anyway so it can even be 1-2 months) Story time: My goal was originally to have 20k in emergency savings (my expenses are low, but my mom's job wasn't stable so I needed to have savings for both of us), and right as I hit that in October 2019, someone hit me. The accident messed up my back and I was recovering and doing physical therapy, not knowing whether I'd make a full recovery, until around March 2020. Then the pandemic happened and my mom lost her job. She is starting a new one and now also has Social Security. Meanwhile, I got my student loans forebearanced, I stopped eating out, I got a lot of overtime, got summer work, went on no vacation, my car got paid off, just lots of stuff. I decided to go look for a home and I didn't have the W2 income showing yet so I had a hard time with getting, but I do now and could try again. If I honestly didn't believe that I could buy a home and had I known how easy and free that investing in stocks is (I wanted to before but I didn't want to pay $7.95/trade when I could only put $50 or $100 at a time), I wouldn't have kept the money idle. Now it's a matter of what to do with the money that makes the most sense financially. foolm0r0n posted... Oh and of course one of the main benefits of buying a house is that you can live in it, and it's an upgrade from your previous housing. Doesn't seem like a podunk 1 bedroom condo in LA would be an upgrade. It kinda seems more like a sidegrade. I'd have my own space completely and that's important because I barely have any room for my stuff here. --- <D <cite>Zachnorn posted [p:952244963] in Invest in ... [t:79375157]...</cite> <quote>foolm0r0n posted... </cite> <quote>I just bought a house that's technically a condo. I think it's a good investment but it really has to be in the right market. All the markets are insanely inflated and hard to buy in right now, but LA is going to be one of the worst buyers' markets in the entire country, plus so many people are fleeing the city that the future returns are not as attractive. For example I heard San Diego is really good due to all the LA exiles going there.</quote>I really hope that the housing market just stops growing. There's no way it's sustainable at this point. foolm0r0n posted... </cite> <quote>But in general, yes invest in stocks by default. It's 8-11% per year, despite massive economic depression, and shows no indication of changing. Not sure why you have 50k in savings. You should have 3 months worth in liquid emergency cash at most. (Stocks are highly liquid anyway so it can even be 1-2 months)</quote>Story time: My goal was originally to have 20k in emergency savings (my expenses are low, but my mom's job wasn't stable so I needed to have savings for both of us), and right as I hit that in October 2019, someone hit me. The accident messed up my back and I was recovering and doing physical therapy, not knowing whether I'd make a full recovery, until around March 2020. Then the pandemic happened and my mom lost her job. She is starting a new one and now also has Social Security. Meanwhile, I got my student loans forebearanced, I stopped eating out, I got a lot of overtime, got summer work, went on no vacation, my car got paid off, just lots of stuff. I decided to go look for a home and I didn't have the W2 income showing yet so I had a hard time with getting, but I do now and could try again. If I honestly didn't believe that I could buy a home and had I known how easy and free that investing in stocks is (I wanted to before but I didn't want to pay $7.95/trade when I could only put $50 or $100 at a time), I wouldn't have kept the money idle. Now it's a matter of what to do with the money that makes the most sense financially. foolm0r0n posted... </cite> <quote>Oh and of course one of the main benefits of buying a house is that you can live in it, and it's an upgrade from your previous housing. Doesn't seem like a podunk 1 bedroom condo in LA would be an upgrade.</quote>It kinda seems more like a sidegrade. I'd have my own space completely and that's important because I barely have any room for my stuff here. --- <D</quote> ... Copied to Clipboard!
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