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A gallon of gas at $5 is still an amazing value vs. the utility it provides.
If you compare the price of a gallon of gas to a gallon of other things people pay big bucks for, gas is rather cheap. Olive oil, for example.
You would be alot wealthier had you bought in 1998 and sold in 2006... I wouldnt brag too much about sitting on the sidelines forever.... You could get hit by a bus tomorrow .. Sometimes you gotta just live your life.... You can die with a loan or die rich... In the end you died waiting for another 10-20% drop... A drop that in 10-15 years when you go to sell would be gained back anyway.
Exactly why I bought, even though the bottom may not be in (unless you have a crystal ball, good luck catching the exact bottom, and it may not matter anyway, if, as many predict, prices will plateau for an extended period of time before going up). I can afford it, and plan to stay a decently long time, so I did, and it's much nicer than renting, even though it costs more, just like a Rolls Royce [or insert other car or luxury item you like] is much nicer than a Chevy [or insert car or other item you don't like as much but which is more economical], even though it costs more.
What is all this silly talk about being "Pressured" into buying? Who cares what other people think? Sure- I too hear from people who say we should buy. But most of those are people who bought and did so recently in the last few years. My take is that they want to feel like they made the right decision and getting someone they know who rents to "Join the party" would make them feel validated.
Â¥
2011 Jul 12, 5:15am
f you compare the price of a gallon of gas to a gallon of other things people pay big bucks for, gas is rather cheap.
thing is, people don't pump 20 gallons of olive oil at a time.
and there are substitute goods for olive oil. Replacing gasoline in our economy is going to require god knows how many trillions of investment in new energy infrastructure and private capital, stuff that hasn't been invented yet even.
Re: gas - two interesting links -
http://www.fintrend.com/inflation/Inflation_Rate/Gasoline_Inflation.asp
TMAC54
2011 Jul 16, 12:23pm
Dear masayako2456
Learn WHY Real Estate prices exploded from the mid eighties thru 2006 and you will KNOW where those prices will land.
simple; Real property buyers phenomanally pay 2.5 times there annual income.
If you invent something that each person in the free world buys for a couple thou $$$ each, incomes rise. (the computer ?)
Educate your parents
p.s.
the fuse; in 1974, lending institutions doubled the amount loaned on real property
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I have been waiting to buy a home in SoCal since 2006. I am a big believer that the US economy is going to continue collapsing drastically in the coming years. It might be deflationary with a stock market collapse (bad for home prices) or it can be hyper-inflationary which will take rates to over 20% and wreck the economy. Either way, I think home prices are going to fall AT LEAST 35% from here.
I get a lot of pressure to buy a house from the in-laws but I think I will regret it in a few years when prices collapse through the floor. What is everyone's take on the future of home prices in the US? Do you think it's good to buy now or wait 2-4 more years?