I missed it somehow so here its : Paris Hilton purse dog? Can you insult better than that? I think you both are unhappy life long renters who never succeeded in getting a home and a roof of your own. I see the bitterness in your voice and I feel sorry for you. But I have news for you, your speculation on real estate values is a mirage. Nothing will go down 30% and so far after 2.5 years of this terrible time it has merely gone down 4.9% around the country, in fact some places have appreciated 5-10% . Real Estate investing is totally different than trading. You need to wear 2 hats to the do the job well. You trader mentality is your short coming since you treat real estate as a stock or equity that can go down on a given day.
Your posts throughout the threads here in ET are amusing. You are fixated on this concept that others don't have what you have (or better), and they're just jealous losers who covet whatever it is you own (or don't own, for all we know). Get used to the fact that the world doesn't revolve around you. Nobody gives a flying fuck whether you have a house or not. It's ORDINARY to have a house, just as it's ORDINARY if you don't have a house. The house I have is just that - a house. It doesn't give me license to ridicule and scorn everyone around me. Apparently, you think you do. At this point the only one who doesn't realize that YOU'RE the barking cocker spaniel is YOU. Go jack off to your washing machine and kitchen countertops. You're unwelcome here if you haven't noticed. RT
Yes, and you could lock in at much higher rate then too. So you gotta decide whether the payments will be lower if you purchase now vs. later. Will the potential rate increase offset the potential purchase price change? Factor in the tax break you'd get over two year period too. Me personally, I believe that payments won't get much lower than they are now because rates are near bottom and prices won't drop enough in the short-run to offset them. There's so much doom and gloom in the newspapers that the sellers and buyers couldn't be more scared...its the ARMS resets that are the joker in the deck. Ya'll know I thought we'd be through the bottom quicker than this and I was wrong about that, but can it really be argued that now isn't a good time to buy? Factor in the fact that rents are rising at a good clip in your response. SM
BTW, ya'll know that a fellow here on this site once said that when I'm not bullish, then that is a bullish signal. Ok, so does that mean I should be more bullish? There's a paradox there... SM
Cramer admitted that he is a bear today, on CNBC. He said Bear market started in Sept. He also give a solution to the housing problem: Government should buy insurers.
My one friend bought a home in Florida. He paid 950k for the home on a variable rate. He still tries to make an argument that the market will rebound....he's getting ready to lose his house. What happens when interest rates go up to 8 or 9 percent eventually they will.