[quote=deadzone]Flu do you disagree that Fed policy is the major reason for both the housing and stock bubbles?[/quote]
No i don’t, but I don’t see a point in arguing whether we think RE is going tank or not.
1)You already made up your mind that you think the majority of people are in trouble and doom and gloom. Maybe it is among your peers or your submarket, not among mine…So we’re probably not looking at the same things…I don’t know.
2)I’m really not on the fence looking to buy another house. I can see if the price is right for an investment purpose, maybe but I don’t feel I have a pressing need to. I’m also weighing the PITA factor of being a landlord, since it’s not like I have a lot time these days to dick around with a backed up sink or toilet too.
3)I’m not one who is in your category who bought with a 100% financed ALT or arm loan in 2004 who would be in trouble, and neither are any of the folks that I hang out with. In fact, things are looking pretty rosy for me, frankly since 6 years later, I’m at a 45% LTV and come February I should be able to pay down more of this if the equity markets hold up. I’m not alone in this feeling too, since peers and I all have the same quarterly vesting schedules 🙂
But like I said, if you think the RE markets are a ways to go, than sure wait. More power to you.
Maybe, I’m just going through a mid-life crisis a slightly over a decade earlier…But I’d like to enjoy my life a bit every now and then, and what it comes down to for me is whether I can afford it.
