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RentingForHalfTheCost
2012 Feb 26, 7:02am
maybe, but there is a bottom limit to rates.
I think we make the mistake sometimes ( I know I do) of thinking about the absolute rate. Say 3% and considering that it doesn't have much room to go down. However, in reality we can go down 10% of that rate pretty easily - to 2.9%. Like a bond that 10% drop is huge when you crunch the numbers. We could drop the relative 10% for the next foreseeable future. The limit, is by putting the 10yr bond at 0%, but we have a ways to go before we are even close. The 10yr bond could drop 10% relative for my lifetime and still not be at 0%. In short, the lower the rate, the smaller the absolute drop required to give a relative 10% drop. We really only care about the relative.
1sfrenter
2012 Feb 26, 1:32pm
I hope more of fellow Americans will see house for what it is - a place to enjoy and raise your kids
Yeah, but my kids will be grown with all this waiting
bubblesitter
2012 Feb 26, 1:41pm
Yeah, but my kids will be grown with all this waiting
So what are you waiting for? Vote of approval from pat.net? Buy the one that costs the same as renting and move on.
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We're looking for a $1.4-2.2M house in the Los Angeles area, and although the prices have come down a little, it's taking much longer than the rest of the housing market. I always see homes on the internet where the buyer purchased it at the height of the bubble, and is now trying to get out without incurring a loss, or better yet is trying to make a profit. I'm assuming the only thing to do is wait for these homes to go into foreclosure or sell as a short sale?
I was hoping to buy in 2012, but maybe 2014 will be better? I've been waiting for years for this whole mess to unfold, and it's infuriating that we can't speed up the inevitable.
#housing