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March 2, 2009 at 9:48 AM #358955March 2, 2009 at 1:12 PM #358559svelteParticipant
[quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
March 2, 2009 at 1:12 PM #358860svelteParticipant[quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
March 2, 2009 at 1:12 PM #359003svelteParticipant[quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
March 2, 2009 at 1:12 PM #359038svelteParticipant[quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
March 2, 2009 at 1:12 PM #359140svelteParticipant[quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
March 2, 2009 at 2:39 PM #358645underdoseParticipantscaredycat, I’m with svelte. I will go so far as to say I am a home owner with a 30 year fixed. My mortgage payments can’t go up. Rent, in run away inflation, will. I’m more afraid of rising rent than I am of declining home prices. Really, choose your poison. I anticipate the bottom for real estate in real terms is a ways off, but in nominal terms, who knows. Even Bill Maher is reporting that Chinese tourists are buying real estate in America now. How can we repay the years and years of trade debt if we don’t export anything to them? Well, they can just come over, trade all those extra dollars they are holding for something that we can’t export (our land), then someday we may be paying skyrocketing rent to Chinese landlords. Maybe that’s a doomsday scenario that won’t play out, but I don’t personally want to risk it.
The other answer is, as Rich, and Peter Schiff, and many many other smart people who correctly identified the housing bubble and crash are saying, is to buy gold as a store of “savings”. Arguably a speculative move, hoping that as people lose faith in paper money they will regain faith in metal money. One arbitrary convention for another. If gold really takes off and housing continues to slump (especially if interest rates spike), who knows, you may be able to pay cash for something someday and not care what mortgage rates are. I think trying to time that would require spectacular luck, and I personally don’t have that kind of chutzpah.
All I can recommend is do what will help you sleep at night…
March 2, 2009 at 2:39 PM #358947underdoseParticipantscaredycat, I’m with svelte. I will go so far as to say I am a home owner with a 30 year fixed. My mortgage payments can’t go up. Rent, in run away inflation, will. I’m more afraid of rising rent than I am of declining home prices. Really, choose your poison. I anticipate the bottom for real estate in real terms is a ways off, but in nominal terms, who knows. Even Bill Maher is reporting that Chinese tourists are buying real estate in America now. How can we repay the years and years of trade debt if we don’t export anything to them? Well, they can just come over, trade all those extra dollars they are holding for something that we can’t export (our land), then someday we may be paying skyrocketing rent to Chinese landlords. Maybe that’s a doomsday scenario that won’t play out, but I don’t personally want to risk it.
The other answer is, as Rich, and Peter Schiff, and many many other smart people who correctly identified the housing bubble and crash are saying, is to buy gold as a store of “savings”. Arguably a speculative move, hoping that as people lose faith in paper money they will regain faith in metal money. One arbitrary convention for another. If gold really takes off and housing continues to slump (especially if interest rates spike), who knows, you may be able to pay cash for something someday and not care what mortgage rates are. I think trying to time that would require spectacular luck, and I personally don’t have that kind of chutzpah.
All I can recommend is do what will help you sleep at night…
March 2, 2009 at 2:39 PM #359088underdoseParticipantscaredycat, I’m with svelte. I will go so far as to say I am a home owner with a 30 year fixed. My mortgage payments can’t go up. Rent, in run away inflation, will. I’m more afraid of rising rent than I am of declining home prices. Really, choose your poison. I anticipate the bottom for real estate in real terms is a ways off, but in nominal terms, who knows. Even Bill Maher is reporting that Chinese tourists are buying real estate in America now. How can we repay the years and years of trade debt if we don’t export anything to them? Well, they can just come over, trade all those extra dollars they are holding for something that we can’t export (our land), then someday we may be paying skyrocketing rent to Chinese landlords. Maybe that’s a doomsday scenario that won’t play out, but I don’t personally want to risk it.
The other answer is, as Rich, and Peter Schiff, and many many other smart people who correctly identified the housing bubble and crash are saying, is to buy gold as a store of “savings”. Arguably a speculative move, hoping that as people lose faith in paper money they will regain faith in metal money. One arbitrary convention for another. If gold really takes off and housing continues to slump (especially if interest rates spike), who knows, you may be able to pay cash for something someday and not care what mortgage rates are. I think trying to time that would require spectacular luck, and I personally don’t have that kind of chutzpah.
All I can recommend is do what will help you sleep at night…
March 2, 2009 at 2:39 PM #359122underdoseParticipantscaredycat, I’m with svelte. I will go so far as to say I am a home owner with a 30 year fixed. My mortgage payments can’t go up. Rent, in run away inflation, will. I’m more afraid of rising rent than I am of declining home prices. Really, choose your poison. I anticipate the bottom for real estate in real terms is a ways off, but in nominal terms, who knows. Even Bill Maher is reporting that Chinese tourists are buying real estate in America now. How can we repay the years and years of trade debt if we don’t export anything to them? Well, they can just come over, trade all those extra dollars they are holding for something that we can’t export (our land), then someday we may be paying skyrocketing rent to Chinese landlords. Maybe that’s a doomsday scenario that won’t play out, but I don’t personally want to risk it.
The other answer is, as Rich, and Peter Schiff, and many many other smart people who correctly identified the housing bubble and crash are saying, is to buy gold as a store of “savings”. Arguably a speculative move, hoping that as people lose faith in paper money they will regain faith in metal money. One arbitrary convention for another. If gold really takes off and housing continues to slump (especially if interest rates spike), who knows, you may be able to pay cash for something someday and not care what mortgage rates are. I think trying to time that would require spectacular luck, and I personally don’t have that kind of chutzpah.
All I can recommend is do what will help you sleep at night…
March 2, 2009 at 2:39 PM #359226underdoseParticipantscaredycat, I’m with svelte. I will go so far as to say I am a home owner with a 30 year fixed. My mortgage payments can’t go up. Rent, in run away inflation, will. I’m more afraid of rising rent than I am of declining home prices. Really, choose your poison. I anticipate the bottom for real estate in real terms is a ways off, but in nominal terms, who knows. Even Bill Maher is reporting that Chinese tourists are buying real estate in America now. How can we repay the years and years of trade debt if we don’t export anything to them? Well, they can just come over, trade all those extra dollars they are holding for something that we can’t export (our land), then someday we may be paying skyrocketing rent to Chinese landlords. Maybe that’s a doomsday scenario that won’t play out, but I don’t personally want to risk it.
The other answer is, as Rich, and Peter Schiff, and many many other smart people who correctly identified the housing bubble and crash are saying, is to buy gold as a store of “savings”. Arguably a speculative move, hoping that as people lose faith in paper money they will regain faith in metal money. One arbitrary convention for another. If gold really takes off and housing continues to slump (especially if interest rates spike), who knows, you may be able to pay cash for something someday and not care what mortgage rates are. I think trying to time that would require spectacular luck, and I personally don’t have that kind of chutzpah.
All I can recommend is do what will help you sleep at night…
March 2, 2009 at 5:46 PM #358794Nor-LA-SD-guyParticipant[quote=svelte][quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
[/quote]
With inflation will it not cost more to build a home ???
I know that still sounds cheaper in most SD area’s but move out a bit (say T.V.) and then it’s going to cost more than today for a home.
Gold hmmm can’t eat it, it won’t keep you warm etc…
to each their own.
March 2, 2009 at 5:46 PM #359096Nor-LA-SD-guyParticipant[quote=svelte][quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
[/quote]
With inflation will it not cost more to build a home ???
I know that still sounds cheaper in most SD area’s but move out a bit (say T.V.) and then it’s going to cost more than today for a home.
Gold hmmm can’t eat it, it won’t keep you warm etc…
to each their own.
March 2, 2009 at 5:46 PM #359237Nor-LA-SD-guyParticipant[quote=svelte][quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
[/quote]
With inflation will it not cost more to build a home ???
I know that still sounds cheaper in most SD area’s but move out a bit (say T.V.) and then it’s going to cost more than today for a home.
Gold hmmm can’t eat it, it won’t keep you warm etc…
to each their own.
March 2, 2009 at 5:46 PM #359272Nor-LA-SD-guyParticipant[quote=svelte][quote=scaredycat]what about the dude who is just holding cash dollars in this usa bank acct hoping to buya house someday. is he screed? [/quote]
More and more people are being converted to the “inflation is coming” camp, and I agree. Everything points in that direction. It may happen in 2009, it may happen in 2012, but it’s coming, and I think it will be very high inflation.
With that said, those who were robbed of buying a house the last few years (by the housing bubble) may find themselves robbed again (by the reduced purchasing power of their saved cash) if they aren’t careful.
Everything is a gamble of course, but I think 2009 may be as good as it gets, meaning housing has dropped considerably yet mortgage rates are extremely attractive. Once inflation skyrockets, mortgage rates will add hundreds to your potential monthly payment. in my mind, better to lock in 30 yr fixed and buy in 2009.
Personally, if I were renting right now, I would be studying the area I was interested in in very great detail so that this fall I could be making an offer on SOMETHING.
It all depends on how big a gambler you are…
Good luck.
[/quote]
With inflation will it not cost more to build a home ???
I know that still sounds cheaper in most SD area’s but move out a bit (say T.V.) and then it’s going to cost more than today for a home.
Gold hmmm can’t eat it, it won’t keep you warm etc…
to each their own.
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