The Q2 GDP was 4.2%. Other economic indicators also seemsed unusually rosy. So, of course, we self-employed Baby Boomers who lucked out and sold our houses for a (big) profit are considering another try. Our businesses are going well and, face it, it's a nuisance to put up with the rules and regulations of a rental.
For the past several weeks I have been spending too much time studying the real estate ads for houses and condos. Buying in Arizona could be a smart investment, especially if the east gets more polar vortexes. In a few years I can flip the house or condo over for about at least a 40% gain.
Then, in the doctor's office this morning I read most of "Down The Up Escalator: How the 99% Live in the Great Recession." In it Barbara Garson does comprehensive profiles of those who lost their jobs. In the process many lost their houses and condos. Those who didn't lose their condos experienced the horror of rising condo fees. Soon enough, I thought to myself, there would also be special assessments. Here you can order that 2013 book from Amazon.com.
All that scared the daylights out of me. The economy could go sour, again. My business could have a fall-off in clients or the amount of the work assigned. I could become very sick. My reserve fund could go on empty.
Driving to my rental after finishing almost all of "Down The Up Escalator," I reverted back to staying a non-owner of property. My new plan is looking for a nicer, bigger apartment. One near the University of Arizona would be ideal.