diemos wrote:Default would mean a collapse of the financial system as the paper assets vanished. Everyone's bank account, insurance company, 401K, pension plan would vaporize. So I'm quite confident that the balance will be restored through money printing and inflation. Which is why one of my priorities for retirement is to own a real asset like a house that I can live in.
The thing is to know when is when.
RE right now is super inflated from lack of supply and low interest: sellers market big time. Even just a normalizing of supply will likely cause the market to cool, at the least. Lots of people are moving around right now looking for a place to land. As soon as inflation rises, interest will too, baaad for home prices. Lots of delinquent renters and mortgages too, baaad for prices down the pike.
I'm basically half n half, about half my assets in a house and half in cash— in the bank earning nothing. There is nothing available in the immediate area, nothing. A realtor friend says she has never seen such, when a house comes up it is gone in hours, likely selling to realtors, LOL.
This was a house of opportunity, dirt cheap with potential, besides I gotta live somewhere. We have been flipping on the 2 year exclusion but might sell this and take the gain if the gig looks to be up this spring. I'm like you, looking for a retirement place, right now I'm gambling my assets off hoping for some luck.