Comments by "Harry Mills" (@harrymills2770) on "MHFIN" channel.

  1. I bought the current place at the top of the market, but I bought the previous place in 2013, when prices were reasonable. So I made out like a bandit, especially when you consider the previous place was pretty leveraged, with a bit over 20% down. But I got the full doubling of the sale price, leaving me about $250,000 in cash. I put a big chunk of that down on the new place, which I bought for about the same price as I sold the old place for. But I'm a lot deeper in debt, even though I plowed most of that $250,00 into the new place. I'm not a speculator. I plan to hold on to this place. The mortgage payments are about the same. I don't know how the speculators who bought the old place made out. I'm sure they thought they were sticking it to me, offering $370,000 for a place that was listing at $405,000 at the time. I acted put out and tried not to look too happy about clearing a quarter mill on the deal. But I've got eyes. I can see the national debt and how insane federal spending has become. There's going to be an inflationary tsunami, and as long as you're locked in at a fixed rate and can make your payments, you'll come out way ahead in 10 years.
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  2. Yes. I felt the squeeze, last spring, too. Offering a couple grand over the asking price was how I bought each of the 2 houses I've bought in my life. If speculators weren't so crazy to buy the old place, I'd've been screwed trying to buy a new place at the insane prices. But I was feeling real urgency after I sold my place in February. I closed on the new place, 1200 miles away, on April Fool's Day! Locked in a low rate, which went up the next week and isn't coming down any time soon. If I were looking right now, I'd probably just buy a nice RV and life the "van life" until the bubble pops. It'd suck, but you can make it fun for a while. I just don't see prices staying as high as they are, but I also don't see interest rates coming down until we quit begging the feds to print more money and quit cheering when they send everybody a free thousand bucks, destroying the value of that thousand bucks in the process, because we're ALL paying the interest on that "free money," and if they can't take it from us in taxes, they'll just steal it by inflation. I'm keeping some extra cash on hand, just in case, but now's a good time to dump a little extra into precious metals and letting it ride. I'd say put a little into crypto, but there are too many in the political class who want crypto to fail and they have enough money to manipulate crypto currencies. They want EVERYbody holding U.S. dollars, to wipe us out when the debt comes due, and nobody will be buying Treasuries.
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