Everyone relax, Yahoo! says it's a "Great Time To Buy!"
invite response
2011 Jun 6, 3:00am 27,247 views 152 comments
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Right, all of what you said points to, in your opinion, being able to remodel a home, or do yardwork (that you love), and other "intangible benefits" are not significant enough to be one of the many reasons to buy a home. Other people disagree.
Schizlor
2011 Jun 9, 2:11am
Right, all of what you said points to, in your opinion, being able to remodel a home, or do yardwork (that you love), and other “intangible benefits†are not significant enough to be one of the many reasons to buy a home. Other people disagree.
If you meant to say:
....one of the many reasons 'Why it's TIME to buy', that's absolutely correct.
SubOink says
Here is a whole other approach:
Imagine you won the lottery, 40Mill. Are you going to keep renting or would you buy a house?
Klarek and Schizlor - what’s your answer?Yes. But not at the moment necessarily. That’s my point. Im just saying that even with 40 mil in cash
Wow! So now we established that you will never buy a home.
If you don't buy a home with 40Mill in Cash in the bank because you are worried that the house value may drop 10% next year then I cannot help you, brother.
Speechless!!
My prediction for you is that you will never buy a house in your life. You will be 65 years old having to pay rent every month...there goes the soc security + the 401 + the savings...
If you don’t buy a home with 40Mill in Cash
$40M doesnt mean you go stupid overnite as some did when they hit the lotto or other means to wealth. There is a lot of things one can do with $1.5M and one is not blow it like a crack addict. Some people are just rich and stupid.
Steven Spielberg Sells Malibu Home at a Loss
http://realtytimes.com/rtpages/19980819_celebrity.htm
Not everyone is making money in the California real estate boom. Director Steven Spielberg just sold his oceanfront Malibu home, not his primary residence, for approximately $4.5 million or $1.5 million less than he paid for the property when he purchased it in 1992. His loss is his lucky buyer's gain.
My prediction for you is that you will never buy a house in your life. You will be 65 years old having to pay rent every month…there goes the soc security + the 401 + the savings…
Have we not heard this all before during the bubble, and long ago back in the early 90s from realtors.
SubOink, your predictions is based on home prices never fall and correct to long term fundemental trends. And in the long run they do correct. We seen it back in 1990s and we are seeing it once again. I been there and i lived through it.
Another costly mistake... Blow money like there is no tomorrow.
Agassi suffers a loss -- in sale of Tiburon home
November 29, 2006|By Marni Leff Kottle, Chronicle Staff Writer
It took almost four years, but retired tennis stars Andre Agassi and Steffi Graf finally have found a buyer for their Tiburon estate for $20 million, or about $3 million less than what they paid for it in 2001.
$3M Agassi will never see again.
klarek
2011 Jun 9, 6:24am
Wow! So now we established that you will never buy a home.
If you don’t buy a home with 40Mill in Cash in the bank because you are worried that the house value may drop 10% next year then I cannot help you, brother.Speechless!!
The fact that you could make a gamble like that with money that's not even yours which you'll be paying back (doubly), without regard for how in the hole you'll be, is absolutely remarkable. You scoff at prudence and you're the poster child of American consumerist foolishness.
My prediction for you is that you will never buy a house in your life. You will be 65 years old having to pay rent every month…there goes the soc security + the 401 + the savings…
If you're going to get personal like that, then I have to say that you're a fucking idiot. I've known him a long time, and he's never ever been anti-homeownership. Had you bothered to read, you'd see that he said the same thing up above no less than three times. He is anti stupid-people-buying-homes-for-dumb-reasons, which you seem to epitomize.
you’re the poster child of American consumerist foolishness.
SO is in LA, should tell you something. Somethings never change. LA has always been awash with RE and mortgage industry. They are nose deep in RE and cant handle the price declines.. True today as its been true for decades past.
SubOink says
Wow! So now we established that you will never buy a home.
If you don’t buy a home with 40Mill in Cash in the bank because you are worried that the house value may drop 10% next year then I cannot help you, brother.Speechless!!
The fact that you could make a gamble like that with money that’s not even yours which you’ll be paying back (doubly), without regard for how in the hole you’ll be, is absolutely remarkable. You scoff at prudence and you’re the poster child of American consumerist foolishness.
What are you talking about..."with money that's not even yours"?? - READ the context. We were talking about winning the lottery!! The money would be yours. But your homeboy wouldn't even buy a house if he won the lottery (so he said) and had 40million in the bank.
If somebody tells me that he wouldn't buy a house even though he had 40million in the bank, then its clear - he is against homeownership! Period!!
How many people would not buy a house after they win the lottery?? And how many people would reason not buying because next year the house could be a little less worth??
When you own a house and live in it then its always something worth. It's worth what you would have to pay in rent if you didn't own the house. Who cares about papervalue in that case.
I don't know how that makes me a posterchild of american consumerist foolishness...then again...Sarah Palin may agree with you.
klarek says
you’re the poster child of American consumerist foolishness.
SO is in LA, should tell you something. Somethings never change. LA has always been awash with RE and mortgage industry. They are nose deep in RE and cant handle the price declines.. True today as its been true for decades past.
What a dumb statement.
Let me remind you that I just bought my house...the price decline has not crushed me, neither is it bothering me as I pay the same amount in mortgage than I used to pay rent for a house way bigger and an even nicer neighborhood with the best school system (no private school required). We both work, but bank my wife's income. We could pay the mortgage from her income too.
But hey, I am the poster child of american consumerist foolishness, so don't listen to me...also I am SOOO LA.
You guys are lame and the definition of what is a "Hater".
everything
2011 Jun 9, 5:08pm
I commented earlier but will again. Friend of mine started out in nursing same time I started in IT. She now makes double what I make, money is literally falling out of her pockets, plenty of people can afford to get into homes now, and will because they can. The particular person I mention, between her and her hub., they can afford to make payments on three homes, renting the other two. I had to sell my home, everything else was going up, for the most part, while my income was going down. It really came down to either owning the home outright in 10-15 years, or having a nice retirement nest egg in 10-15 years.
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http://finance.yahoo.com/news/Why-Its-Time-To-wallstreet-3012977435.html
"But the long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes—a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for about the same price as you can rent one, buying will give you the ability one day to live rent-free. Come retirement time, a paid-off mortgage means your monthly expenses are significantly reduced, and you have a chunk of equity to play with."
Deduct the mortgage interest? Paint my walls *any* color? Living rent-free? Sign me up! Happy days are here again!
#housing