[quote=Coronita][quote=flyer]Totally agree buying and holding over time is a great strategy. Cycles will always come and go, but this one is particularly interesting. Schiller, in his latest prognostications, seems to think there will be some pain involved if/when there is a correction.
That said, guess we’re losing another San Diegan to less taxing climes. Heard Mickelson is moving to Jupiter when his youngest graduates from high school. Our golfing families have crossed paths for many years, and it’s been great to watch his career–especially that win last Sunday.[/quote]
we don’t give a shit. we enjoy talking about real estate that built on our own efforts, not our parents.[/quote]
But what will our kids talk about? LOL
And those 5% down loans are real at 3%. Many of them offer low down with low fixed rate for 5 years that adjusts once every 5 years. I think the cap is 0.5% every 5 years so would still be 3.5ish% years 6-10 if they are still there. It has been a good entry for many first time buyers with very low rates that are guaranteed to stay that way for 10 years if not longer.
A family member used one of those loans 3 years ago albeit with 20% down. I think it was around 3.375% at the time which was much lower than the 30 year. At the time she thought she would only be there through her daughters high school graduation this year. I recently helped her through a refinance into a 2.625% 30 year fixed. She’s solid for life now
Oh and to tie into flyers humble brag. That daughter used to go to dance class with Phil’s youngest. I met him him several times. Nice guy and I undestand the move to Jupiter. Many of my friends and their parents live there. The golf is much better there
