I love to see high-road, classy, and professional responses from people scared about the coming demise in the housing industry.
I also love the cheap shots they give to people in jobs not directly involved with housing. Those who thumbed their noses at salaried/union/SBO's in the past 5 years, are now complaining to them that they are wrong for not buying 5 years ago.
Truth is, misery loves company and many who bought at affordable prices, refinanced at higher levels and can't afford anymore either.
"UNION boy" is no different and I hope he reads this.
The only difference between what you call our hope in a crash, (which is really just an expectation of a correction to make houses affordable again) and your hope that prices will continue to rise, is we base it on actual data, not politically charged propoganda and opinion.
As one of his cronies, why don't you continue to follow in the footsteps of Mr. Lereah…
Actually, you mistaken me drastically. I hate unions personally, and I was never in the "real estate" speculation, save selling a home that was purchased at a normal time, and few rentals that have been cash flow positive for years. In fact, I'm probably what you consider just a normal,average salaried worker that is bent on reaching my goal of $3million before I turn 35. The lesson that I learned very young is that pretty much salaries are just there to pay bills, your assets is what you keep afloat.
Nothing would give me more pleasure than having housing correct so that homes are "investments" again. I'm merely pointing out that I've seen my fair share of people who like to focus on so much negativity, that their view is the entire world is crumbling and they just don't motivate to do anything. They'd rather wallow in misery.. It's no different than those idiots that believe the party will never end..
There a some of you here that are really intelligent and probably here to really talk about investments. But I would say a handful of you are here to just gripe about home prices being unaffordable for you. The same people that will be griping about how ridiculously expensive stocks have become 2-3 years from now because you didn't think it was "rationale" to put money back in the market.. I call this the sour grape mentality. As far as a huge downturn, don't think it's gonna happen, but if I'm wrong bring it on. I would more than welcome this. But like i said, even if there is a huge downturn, several of you won't be in any better positions to take advantage of this, unless you have sufficient cash on hand to buy out and hold, and if inflation also doesn't kill your purchaing power. The people who stand to benefit from this are the extremely rich (and no, I'm not consider myself to be in that category either).
