fighting with my wife about buying was vastly more difficult all the way up until this summer. she and most of her friend who would get togeather and talk about how much money they were making by simply owning. Hell I almost capitulated and figured that mayby prices do only go up. My only saving grace was that I grew up poor, real poor, and there is no way in hell I would pay over half a million dollars for some of the shacks that I was seeing. I work to hard to pay Half a mil and come home to mediocrity. I basically told the wife that we could not afford California and that we would just move back east were people and prices were “SANE”
Now a funny thing happened over this summer. Two of her frineds who were making all of the “money” in real estate are going into forclosure. She spent a couple of nights talking to them on the phone as they were crying and in distress. Before that happened she was all about getting whatever mortgage we could to get into a house.
Now she flat out told me that we will only take a fixed rate mortgage no matter what “I smiled when she said that” What a change of direction
That is how I know that this market is a dead as a doornail. When the financially uneducated “yes I count my wife in this group,” sentiment turns from its all easy money to “I don’t want to stay up and cry at night” its done like dinner.
I can see that my next fight is going to be to convince my wife around 2009-2010 to acutally buy someting. Could I wait all the way until 2012…yes. But I am more concerned with obtainig a nice place for my family and less with saving every last nickle.
gun.
