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Everyone relax, Yahoo! says it's a "Great Time To Buy!"
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2011 Jun 6, 3:00am 27,221 views 152 comments
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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