American Kid buy $150,000 house in Hargeisa

[reer]

Only during the extremes of the civil war or when Al Shabaab rose perhaps.

But now it is not a good deal.

Look at the ten year price chart of Apple, Amazon, Google etc. You will be shocked.

plots in darusalam jumped from 10k to 15k+. buy a plot and sell it 5/6/7 years later when the city expands to the area.

 

[Apollo]

plots in darusalam jumped from 10k to 15k+. buy a plot and sell it 5/6/7 years later when the city expands to the area.

Do companies in Somalia offer shares? It would be better if diaspora Somalis invested in companies operating in Somalia. Would also be better for the Somali economy then pumping up unproductive things like real estate.

 

[reer]

Do companies in Somalia offer shares? It would be better if diaspora Somalis invested in companies operating in Somalia. Would also be better for the Somali economy then pumping up unproductive things like real estate.

there is forex trading. but somalis are tuugo i wouldnt wanna trade with our peoppe on a mass scale.

 

[KingSomali999]

Diaspora Somalis have this obsession with investing in real estate in Somalia. So much money is wasted in it only for it to price out locals and for the diaspora investors to lose money in opportunity cost (stocks outperform real estate).

answer my question tho, can’t he rent it for now and generate money? even if it’s little. than if he plans on going back to somalia in 10-20 years he’ll have a house already

 

[Apollo]

there is forex trading. but somalis are tuugo i wouldnt wanna trade with our peoppe on a mass scale.

Forex trading is zero sum. Not productive either, it is basically people taking away money from each other.

With shares, a company can invest in long term projects, machinery etc. This would be positive sum.

 

[Desert Flower]

Diaspora Somalis have this obsession with investing in real estate in Somalia. So much money is wasted in it only for it to price out locals and for the diaspora investors to lose money in opportunity cost (stocks outperform real estate).

Yes! I was going to say this. It’s sad and cruel because how most diaspora Somalis earned that money was thru dembi and haram (child benefit, welfare, section 8 and public housing, neglecting their children’s needs and having multiple kids to get money from the government) only to turn around and buy a home in a land that you don’t live in, causing the prices to go up for locals who barely have any money. And it’s one of many reasons why we’re messed up.

 

[Apollo]

answer my question tho, can’t he rent it for now and generate money? even if it’s little. than if he plans on going back to somalia in 10-20 years he’ll have a house already

Maintenance costs and the headache of vetting people. Still it is worse over the long term than investing in a good growth company.

 

[Desert Flower]

He could've bought a few houses in the ghetto(inner city not the suburbs) of a major city and pray for gentrification.

Maybe a down payment then. It would be better for his family in the long term.