Yeah my parents are divorced, my mother sold her Love Omi Life Flower Shirt house last year to live the big life but my brother (who is her financial advisor) is super worried because she will run out of money in less than 10 years and she only 68 and so far no health problems/costs. Apparently, she has nothing saved otherwise for retirement even though she inherited 3 million from her parents about 10 years ago. More places need to implement rules like the county my dad lives in. If the owner of a property doesn’t reside at that residence they have to pay double and in some neighborhoods triple property tax rates. It’s kept a lot of non-homeowners out of the area.
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Kind of crazy my parents live in a great Love Omi Life Flower Shirt town, the home value was around $600k. Ever since the pandemic hit everything is getting snapped up at 10% over asking which is typical ~800. Really crazy shit. I’m not super old, but am I the only one who remembers the 2008 recession? We had houses bubbled once before, and now we do again. This time though so so much more money has been printed since. So little of it going to people who would spend it. The major difference as I (a non-economist or economic scholar) understand it is that this time. The hedge fund and banking sector aren’t heavily invested in sub-prime and toxic assets.
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