Fearful"It is a sense of superiority. When you know better, and sit on the sidelines during an asset bubble,"
I made the best purchase deal of my life in San Diego in 2004.Many of my friends were still doing fine.It's called experience. The excuse you use actually only works for the last two years. What about the rest of the time? It's convenient to compare yourself to losers.I bet you are young. You are sitting in a really great position now. Your time will come. Best wishes
I have to side with Rustico on this one. Everyone always has 20 20 vision in hindsight. I'm not sure what's worse, folks who blindly rush in, or folks who never take advantage of a situation The former imho is too reckless, the latter are the forever skeptics at everything.
As far as sitting on the sidelines. The way I look at it…There are different reasons why a lot of folks are sitting on the sidelines. Some are sitting there because they made an active decision (sold home, renting because they believed homes are coming down).Some just don't care if they rent. Others are sitting on the sideline because they were priced out. I'm not going to judge the buy/rent decision or whose in what category. It just seems like there's a lot of confusion these days about folks that were proactively smart sideliners versus the coincidental sideliners. Just like there are those who sold homes and made money out of smart decision making process, and those who happen to have just done that out of coincidence (I'll admit, I'm more the latter).
What I don't understand is that for most folks that hope for a utter demise, I don't think they're really going to be in that much better shape then everyone else if the financial market completely collapses. Because if we really do have a financial crisis, unless you are sitting on millions in gold,
tough credit tightening + high mortgage rates + inflation/dollar devaluation ==> home still not affordable.
And if you are sitting on gold millions, you're probably not one of the folks wishing for people's demise because there's really no point.
