[quote=deadzone]
That’s funny because whenever I post about evidence pointing the coming crash, you and sdr and FLU get angry. Yet you (and SDR) then claim you welcome lower prices. You guys are either liars, or you have bi-polar disorder.[/quote]
Fake news dz.
I’m definitely not getting angry. I doubt AN or SDR is too. But if I recall you did drop a few f-bombs in reaction to some of the posts and in reaction to G.O.A.L.. lol
I think your posts are entertaining and think you’ll be disappointed by trying to catch the bottom again because nothing you’ve done over the past 20+years where there were bottoms suggests you would be able to catch the next one if it does happen. because i don’t think you are nearly as good as you think you are in catching opportunity. I also think it’s entertaining you’re desperately trying to find validation of your opinions, while personally I don’t care if I’m right or wrong. Nor am I really trying to predict how things shake out…
I do appreciate your concern if the economy goes south, that you are concerned I will suffer, but I assure you that I’ll be fine so no need to worry about me (and if you’re itching to see the three of us get screwed, again, sorry that you’ll be disappointed too…).
Higher interest rates and lower prices probably would be beneficial for me. There were many bottom tier homes I couldn’t get despite throwing all cash offer, 10 day all contingencies removed, 15 day close of escrow because there were so many people taking out a 30 year mortgage that were willing to pay a lot more…and the seller didn’t care if escrow was much longer because they figure if it fell out of escrow there’s like 10+ other buyers lined up.
With higher interest rates, the same monthly payments might limit people looking to buy at the bottom tier where I like to play. They still need a mortgage buy and the terms that they can offer may appear less favorable. In this case, cash offers might be worth a lot more when rates move up, and that definitely is good news for me. Also, my cash offers won’t be impacted if I am working or not, since I won’t need to qualify for a mortgage. And if we have high unemployment, that will take out a lot of competition from buying too who are still dependent on a wage income. This might not be as concern in higher tier homes where the average buyer are considerably higher net worth individuals, but I don’t plan on spending $1million+ on a rental property, i tend to compete in the markets where there’s a lot more first time home buyers just starting out 🙂
Not that I wish for that to happen, but if it does, there’s definitely opportunity there for me.
