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You forgot #11: your house gets hit by a meteorite.
What a bunch of nonsense, the only one worth mentioning is the potentially guaranteed interest rate hike in the future. But that will happen only when we go from deflation to inflation, which would increase the value of houses.
Historically when interest rate rises, many times the house prices did not fall. Only when there was a rapid spike in rate hike the prices fell. So it's anyone's guess what will happen this time around when the rate do go up.
Highly doubt it will happen in the near future though.
8. You buy and then the guy next to you gets a great deal, moves in and parks his car on the lawn. You can't move, as you are stuck with your neighbors. They party out in the street on the weekends, blasting their boom boxes and there are 50 cars in the cul de sac. What a pain. Is it worth buying and paying a premium price or renting in a nice neat place. Remember you could have this neighbor, or worse, for 30 years! And you may not be able to sell and leave and cover your mortgage for some of the reasons above. In 30 years, a lot can change in your neighborhood. Ask Cleveland, or Detroit, or Buffalo. And what if China slows exports and becomes a self sustaining economy with no more cheap exports headed to the west coast or Texas? Will that affect the port of Los Angeles and your house price in Redondo Beach? 30 years is a really long time.
Didn't you read number 9 where the owners all stop paying? Duh....
I think most of this is supposed to be a joke.
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