patrick.net

It looks and feels much different than last time. Based on my ever increasing long commute there must be plenty of folks working. Until that changes and the foreclosures open up I dont expect it to change.

Houses here in east bay seem to sell at a premium. There is very little inventory.

anonymous says

Is this a repeat of a few years ago to see who can get in at the last minute, pay the most and lose the most?

You should always keep an eye on the suckers. You do not want to on the same side of the trade.

Losers are easier to spot than winners because they do not even conceal their moves.

Watch out for people who feel they have no choice but to buy. They tend to be the suckers. The market likes to maximize pain. When many buys act out of "necessity" prices will stall and fall.

So someone who buys at the bottom does better than someone who buys at the peak of a bubble. Insightful stuff. You learn something new every day.

I don't have to worry about timing the market if I rent and put my pay-checks into my prudent reserve. Buying a home today is not any different than gambling in Las Vegas. At least in Vegas I may only lose $500.00 as opposed to $50,000 or $500,00.00. Stay out of the game of real estate and learn to re-engage with society through various volunteer opportunities in your area of interest. If I can't pay cash, I can't afford property.