“Why would a wife nag for a house? So she can decorate. How much does home decoration costs? It’s not cheap.”
What if she just want a home to raise a family for the next 30 years? Some people don’t care too much about making a buck as much as have a place to call their own. If everyone is really that $ conscious, then we all would see a major crash by now since everyone would sell their house in 2005.
… is necessarily true. Though I agree with much else of what you state. First of all – most people don’t raise a family for 30 years. My parents bought their final home together when I was 9 and sold it when I was 21… 12 years is a pretty good number – especially with the current trends in lifestyles, etc.
Everyone isn’t looking to buy at the dead bottom, and while I agree wholeheartedly that most people want a place to call their own – the illiquidity of the housing market demands that only suckers consider buying right now. The current market is in free-fall, but a slow free-fall, as most properties which would want to sell aren’t even on the market. The buyers aren’t there (other than the suckers) and it is only the summer/fall of 2007! Housing has only started to be on the national agenda. We don’t HAVE a recession right now, the stock market is still holding up.
What will happen (should happen) when (and of course IF!!!!) we start losing jobs, the market tanks, liquidity of credit goes away (starting already)…. It could make the mid 80’s and the 70’s look like a prosperity seminar!
400% increases in some properties since the late 90’s… Where they should be about 50% (or less!). I don’t blame women, and my wife knows what the score it – I’m so glad I don’t have to fight that fight – but neither one of us is happy not owning a home right now (we sold in Dec 06). But of course it would be foolish to buy.
One thing I read recently…. 40% of ALL job growth in California, I think since ’96 has been related to real estate. These jobs are dropping by the thousands and our bubble is only starting to get underway. The economy is dependent on consumer spending, and these consumers are less likely to spend. As to the dentist want-to-be note that many dentists do lots of cosmetic procedures and these non-necessary items will go by the wayside for many people, people will neglect their teeth (people don’t spend money on dentists when they lose their jobs or have a tight money situation)… I’m not saying that dentists will go away, but the industry (like most others) will have a large amount of the profit margin removed.
A recession means that everyone cuts back and most areas are hit… Some very hard, some less hard. Even commodities which are a safe haven in a recession are tough now because of Ethenol, Wheat demand internationally, etc.
Things are going to get MUCH, MUCH worse and the same people on this board who really didn’t imagine this day will not imagine what I am proposing right now…. Wait till this time next year.
