DesperateBuyer, I will agree with you on many points. I read your first post and thought it was just bait to get everyone riled up, but after reading your second post I’ll give the group a second target. I made a dissenting post at one time with similar negative results. I think there are a few good people in this group, so here it goes again….
To the group: If all the posts agree with the status quo
1. You will have nothing to talk about
2. Your knowledge about the market/buyer mentality will help you make more informed decisions.
I am posting this because I would genuinely like to see all of you get a home if that is what you wish to do. I used this board to get the negative perspective on the market.
I have put my money behind my belief, and purchased a home. I also sold a home in the past month. Three offers in 7 days because it was priced right. I made money on it because I held it more than 8 years. At the time I purchased it there were opinions on both sides, just as now. I am near the end of participating in this group now that this house has been sold.
This has worked for me several times. Once I did sell after a few years, and took a $10k loss on the house because it was a bad time to sell. However, I purchased another house at the same time, paid less for the same reason, and made a substantial amount on it.
So, you now have some opinions from people that believe that with a 8-10 year horizon they are willing to buy. Fixed rate loans, decent down payment. No expectation of the price doubling, but not losing money either. They believe the quality of life is worth the risk.
