Americans are Sacrificing an Arm and a Leg for the American Dream of Homeownership!
Hey SatsCrew,
Currently, we are witnessing the housing market get to a point where it is affordable to almost everyone who isn't paying cash.
These prices in line with these interest rates make it almost impossible to buy at this time.
In today's podcast, I try to dive into a recent Axios article that was published about sacrifices people are making for home ownership.
- Axios Article recently out from Axios
- In life we all need to sacrifice for what we truly want
- I’ve certainly made sacrifices that I’m not proud of, but I’ve also caved to a lot of the ways that millennials cave
- To afford homeownership people took the following
- Less vacations
- Skipping meals
- Working additional hours and shifts
- Sold personal possessions
- Borrowed money from family and friends
- Taking out money from retirement
- Skipping important medical treatments
- Working extra jobs/side hustles/gig work
- Receiving gifts from family
- What is driving up prices?
- Hard costs such as framing, foundations, drywall, HVAC, plumbing, electrical
- Labor is at an all-time high right now
- Soft costs such as financing, marketing, sales, architecture, permit, impact, and sewer fees are also present
- Land costs for in-demand places also going up
- What are you willing to sacrifice? I think Bitcoin provides a lot of the same property characteristics, without having to part with so much liquid capital
Overall these are just some of my high-level thoughts. I hope everyone prospers and can get into the home of their dreams. In the meantime, I am hedging against downside risk by trying to protect my wealth with hard assets like Bitcoin.
I wish you all the best.
Kind Regards,
SatsMate
Bitcoin Buys: https://invite.strike.me/2MSTYG
Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment
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