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ID Bronco

ID Bronco

Registered User
Location
Idaho Falls, ID
Living with your inlaws will have more negative effects than just finances. It will suck out your soul, it will show your kids you go back to parents when things get tough instead of doing it on your own and it can make you, the provider for your family less in the eyes of those who love you the most.

Just some things to think about.

Also would your in-laws be ok with your projects all around the yard?
 
Houndoc

Houndoc

Registered User
Location
Grantsville
Diesel_Zuk said:
What’s everybody’s thoughts on the housing market concurrent with the economy? It seems the economy is steadily heading for a crash. I’ve read that the feds plan to slash interest rates in 2024?
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I am not sure what you are basing the claim that the economy is "headed for a crash". Inflation rates are way down from a year ago, unemployment very low, pay now increasing faster than inflation, economic growth is strong.

https://www.npr.org/2023/12/22/1221...n-for-the-first-time-in-more-than-three-years

As to your specific questions on home buying and selling, perspective matters a lot. While interest rates seem high now (compared to what was seen from 2008-2021), historically they are actually pretty average. Home prices have dropped from their high in early 2022 (though trending back up.)

www.redfin.com

Utah Housing Market: House Prices & Trends | Redfin

Wondering how competitive the Utah housing market is? Find Utah's median house price, demand, supply and more with Redfin. Learn more!
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If you do sell now, you would have to invest your equity and what you are saving on not making a house payment to have any hope of coming out ahead in the long run unless a great recession type housing market crash happens which seems unlikely.
 
Houndoc

Houndoc

Registered User
Location
Grantsville
N-Smooth said:
Yup, a family in my ward did the same thing in 2018 I would guess. I talked to him right after they sold and he thought he was a real estate mastermind. I've talked to him since and he is depressed over the money they've wasted on renting for a handful of years because they can't afford to get back in a house.
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My niece and her husband did the same thing a number of years ago as they felt 'house poor' trying to make a mortgage payment. Figured a lower rent payment for a few years would be better and then buy another home. Been renting now for 5+ years without much hope of buying again.
 
johngottfredson

johngottfredson

Threat Level Midnight
Location
Alpine

Absolutely fascinating. I can’t vouch for the accuracy of his data or his analysis, but bright colored graphs and small words are my jam. Very compelling.
 
Stephen

Stephen

Who Dares Wins
Moderator
Location
Never Far From Nowhere
johngottfredson said:

Absolutely fascinating. I can’t vouch for the accuracy of his data or his analysis, but bright colored graphs and small words are my jam. Very compelling.
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I'm two minutes in and he's already getting easily verifiable facts about aircraft carriers wrong... 😬
...and he has a man bun...

EDIT:
OK, watched the whole thing. Interesting, not sure if I agree with all his conclusions; but certainly on the right track.

Still has a man bun...
 
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johngottfredson

johngottfredson

Threat Level Midnight
Location
Alpine
Stephen said:
I'm two minutes in and he's already getting easily verifiable facts about aircraft carriers wrong... 😬
...and he has a man bun...

EDIT:
OK, watched the whole thing. Interesting, not sure if I agree with all his conclusions; but certainly on the right track.

Still has a man bun...
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I don’t think you know what you’re talking about. The man bun clearly makes him more interesting, and gives a certain gravitas to his personality and ideas. I need an edge like that. Leaning bow tie, but I’m flexible at this point.
 
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Gravy

Gravy

Ant Anstead of Dirtbikes
Supporting Member
Location
The Land Northward (Bountiful), Utah
The one obvious money maker is NEVER sell your home at the 2020 interest rate. Rent it out. Buy another when the time is right.

Options can include: Live with your inlaws if you can stand it and rent it out. It might suck your soul but it requires no market prediction: rent is up, you have a low interest rate.
A. Stack the rental income, buy another rental, rinse repeat.
B. Buy a new primary after a few years of hopefully peaceful cohabitation with the outlaws.

My take: Mental health cannot be purchased.
 
The_Lobbster

The_Lobbster

Well-Known Member
Lots of good input! After some contemplating, decided to probably hang onto the house. As far as debt goes, we’ll just keep plugging away trying to pay it off, and being frugal. We printed off bank statements and isolated areas where we can improve on our spending.

Worse case scenario down the road, we move in with in laws, and just rent the house out like you guys suggested. I’d like to build custom eventually, so maybe we’ll just keep that in mind in the back burner.
 
Unimog

Unimog

Eric
Location
Stansbury Park, UT
Hickey said:
Life is too easy in America. This is what happens when too many people don’t have real hardships.
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True that. From my experience, folks around the world who live in bamboo shacks are a lot less concerned with many things people in our society worry about and are generally happier because of that. Worrying about where your next meal is coming from has a way of focussing your priorities.
 
Tonkaman

Tonkaman

Well-Known Member
Location
West Jordan
The_Lobbster

The_Lobbster

Well-Known Member
I’m not a cop, but I did enter a classroom at work recently (I work for a state technical college), that has a huge glass door, and walls, and “triggered a student’s PTSD”.
I was ripped a new one….because I was supposedly somehow suppose to know this person was susceptible. I told my superiors, “if they can’t handle people opening a door and walking in, what are they going to do once demolition starts on 3rd and 4th floor?”

To top it off, I still have no idea who it was that got triggered because nobody made a scene or anything the entire 30 minutes I was working on that room.


Edit: I will add, if the person has legitimate PTSD from a tour in Iraq, etc, I’d understand and would apologize. But I didn’t come kicking in the door or anything, the walls and door are clear glass, you can see people coming and going in the hall from the room, so surely they saw us gathering our bearings and tools before calmly opening the door and walking in.
 
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Stephen

Stephen

Who Dares Wins
Moderator
Location
Never Far From Nowhere
Diesel_Zuk said:
I was ripped a new one….because I was supposedly somehow suppose to know this person was susceptible. I told my superiors, “if they can’t handle people opening a door and walking in, what are they going to do once demolition starts on 3rd and 4th floor?”
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Good for you on pushing back. Rational thought is certainly at a premium these days, particularly in management.

Stuff like this is one reason why I'm glad I work from home and hope I'm never in an office environment again. The last time I worked in a real office was in 2016, and all this sensitivity/affinity/triggering BS was just barely starting to take hold where I was. You could tell people were beginning to self sensor and there was a palpable sense of fear in the office about what would happen if you said the wrong thing. And this was obviously well before things got turbocharged in 2020.
 
Herzog

Herzog

somewhat damaged
Admin
Location
Wydaho
TRD270 said:
I’m not supposed to say ladies and gentlemen when I make PAs to the passengers anymore…… because it’s offensive. But I do anyway. And everyone is sir or ma’am unless I’m so confused I can’t tell.

Self induced mental illness at its finest.
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iu
 
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