Home › Forums › Financial Markets/Economics › Right time for loan
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Anonymous.
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January 30, 2007 at 2:45 AM #8300January 30, 2007 at 6:10 AM #44392
Critter
ParticipantWhy depend on the government? Live beneath your means and do your own “alleviation of the pressure put on families.”
I’m not trying to pick on you personally, but I for one am pretty tired of people borrowing money and then expecting other forces to bail them out.
January 30, 2007 at 7:02 AM #44393aztecnology
Participant“because the government may drop interest rate to alleviate the pressure that has been placed on families?”
What happens if they raise rates…?
January 30, 2007 at 7:09 AM #44394mixxalot
ParticipantHow to Budget
I agree. As a technology professional, I budget and save 50% of my earnings and have paid all debts except for the last one which should be paid off this year. I cook most meals and keep to a budget. My rent keeps going up so will probably share a place with roommates to cut rent bill in half and wait on the sidelines for the real estate market to implode. Its still a lot cheaper to rent unless you make over 200k a year and have zero debt.
January 30, 2007 at 12:17 PM #44410gold_dredger_phd
ParticipantYeah, you do need to make over $200K per year in order to afford a house by reasonable standards in this county unless you want to live 50 miles from the coast or live in a dangerous neighborhood.
I know a guy who makes low 6 figures and he’s got a huge house loan. He sleeps in the laundry room and rents out the real rooms in his house to make ends meet.
I would not try to guess what direction interest rates will take. If they really will lower interest rates, the economy may be so bad that you may not want a house or you will not have a job.
If I could leave southern California, I would.
January 30, 2007 at 12:41 PM #44413Anonymous
Guestg_d_PhD, why can’t you leave SoCal? Family? Hard to replicate your current job elsewhere?
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