Oh my… Countrywide just set new rates (effective tomorrow)…

[Anonymous]

Sorry, but there is no rational excuse to purchase real estate right now. If you do you are a dumbass, bottom line. You never want to purchase an asset of that scale that is about to plunge in value.

Sure, new or luxury cars are a terrible investment in terms of devaluation as well. But let’s be realistic with the scale here. While buying a new $50,000 Beamer is surely wasteful, but nothing like a $500,000 house.

[JWM in SD]

Precisely DZone. No offense to the realtors here, but only fools and the uninformed are buying right now. Not only would a buyer lose the downpayment but also future income as well.

[JWM in SD]

Precisely DZone. No offense to the realtors here, but only fools and the uninformed are buying right now. Not only would a buyer lose the downpayment but also future income as well.

[JWM in SD]

Precisely DZone. No offense to the realtors here, but only fools and the uninformed are buying right now. Not only would a buyer lose the downpayment but also future income as well.

[4plexowner]

Chris Scoreboar – I hope you stick around but I have to wonder if your recent purchase isn’t affecting your analysis of the real estate and credit markets

You won’t be the first poster to leave this forum after buying San Diego real estate near the peak – note that we haven’t heard from 92103VC since he made his mistake (oops, I mean purchase)

[4plexowner]

Chris Scoreboar – I hope you stick around but I have to wonder if your recent purchase isn’t affecting your analysis of the real estate and credit markets

You won’t be the first poster to leave this forum after buying San Diego real estate near the peak – note that we haven’t heard from 92103VC since he made his mistake (oops, I mean purchase)

[4plexowner]

Chris Scoreboar – I hope you stick around but I have to wonder if your recent purchase isn’t affecting your analysis of the real estate and credit markets

You won’t be the first poster to leave this forum after buying San Diego real estate near the peak – note that we haven’t heard from 92103VC since he made his mistake (oops, I mean purchase)

[Coronita]

Sorry, but there is no rational excuse to purchase real estate right now. If you do you are a dumbass, bottom line. You never want to purchase an asset of that scale that is about to plunge in value. Sure, new or luxury cars are a terrible investment in terms of devaluation as well. But let's be realistic with the scale here. While buying a new $50,000 Beamer is surely wasteful, but nothing like a $500,000 house.

 

You missed my point. For most people, purchasesare "never" rationale.

On the flip side, I would consider a person (like an ex-coworker), who rented for the past 10+ years an equal "dumbass",

1) for throwing money away to a landlord for 10 years

2) for throwing the rest of his money away on crap because he didn't have the discipline to save…This is the problem that a lot of people will have…They don't budget for a home, then they piss away everything anyway.

 

Now, I wouldn't be "buying" any real estate as an investment right now. But someone that "wants" a home and "can afford" one and doesn't mind a "correction" in the forseeable future, what's the big deal?

[Coronita]

Sorry, but there is no rational excuse to purchase real estate right now. If you do you are a dumbass, bottom line. You never want to purchase an asset of that scale that is about to plunge in value. Sure, new or luxury cars are a terrible investment in terms of devaluation as well. But let's be realistic with the scale here. While buying a new $50,000 Beamer is surely wasteful, but nothing like a $500,000 house.

 

You missed my point. For most people, purchasesare "never" rationale.

On the flip side, I would consider a person (like an ex-coworker), who rented for the past 10+ years an equal "dumbass",

1) for throwing money away to a landlord for 10 years

2) for throwing the rest of his money away on crap because he didn't have the discipline to save…This is the problem that a lot of people will have…They don't budget for a home, then they piss away everything anyway.

 

Now, I wouldn't be "buying" any real estate as an investment right now. But someone that "wants" a home and "can afford" one and doesn't mind a "correction" in the forseeable future, what's the big deal?

[Coronita]

Sorry, but there is no rational excuse to purchase real estate right now. If you do you are a dumbass, bottom line. You never want to purchase an asset of that scale that is about to plunge in value. Sure, new or luxury cars are a terrible investment in terms of devaluation as well. But let's be realistic with the scale here. While buying a new $50,000 Beamer is surely wasteful, but nothing like a $500,000 house.

 

You missed my point. For most people, purchasesare "never" rationale.

On the flip side, I would consider a person (like an ex-coworker), who rented for the past 10+ years an equal "dumbass",

1) for throwing money away to a landlord for 10 years

2) for throwing the rest of his money away on crap because he didn't have the discipline to save…This is the problem that a lot of people will have…They don't budget for a home, then they piss away everything anyway.

 

Now, I wouldn't be "buying" any real estate as an investment right now. But someone that "wants" a home and "can afford" one and doesn't mind a "correction" in the forseeable future, what's the big deal?

[stop_the_bubble_hype]

The big deal is that many hear do have sour grapes and appear to want to bully anyone who acts contrary to their opinions.

If everyone here can see the future and predicts a massive collapse in real estate, then I would assume you would wish one well on their decision and wait for the inevitable.

Not only do many hear sound like they have sour grapes, but also that they want constant reminder that their position (e.g. houses are not selling, interest rates are sky high, etc.) is the right position.

I refuted the original post yesterday and to this point, no one has brought forth contradictory factual information. Instead, there is constant bashing about the stupidity of buying right now. Where is the economical analysis and related value in any of the comments that have been posted since my post yesterday?

Think about it…Hype

[stop_the_bubble_hype]

The big deal is that many hear do have sour grapes and appear to want to bully anyone who acts contrary to their opinions.

If everyone here can see the future and predicts a massive collapse in real estate, then I would assume you would wish one well on their decision and wait for the inevitable.

Not only do many hear sound like they have sour grapes, but also that they want constant reminder that their position (e.g. houses are not selling, interest rates are sky high, etc.) is the right position.

I refuted the original post yesterday and to this point, no one has brought forth contradictory factual information. Instead, there is constant bashing about the stupidity of buying right now. Where is the economical analysis and related value in any of the comments that have been posted since my post yesterday?

Think about it…Hype

[stop_the_bubble_hype]

The big deal is that many hear do have sour grapes and appear to want to bully anyone who acts contrary to their opinions.

If everyone here can see the future and predicts a massive collapse in real estate, then I would assume you would wish one well on their decision and wait for the inevitable.

Not only do many hear sound like they have sour grapes, but also that they want constant reminder that their position (e.g. houses are not selling, interest rates are sky high, etc.) is the right position.

I refuted the original post yesterday and to this point, no one has brought forth contradictory factual information. Instead, there is constant bashing about the stupidity of buying right now. Where is the economical analysis and related value in any of the comments that have been posted since my post yesterday?

Think about it…Hype

[Pasadena Broker]

”Not only do many hear sound like they have sour grapes, but also that they want constant reminder that their position (e.g. houses are not selling, interest rates are sky high, etc.) is the right position.”

Same sheeple…different herd.

[Pasadena Broker]

”Not only do many hear sound like they have sour grapes, but also that they want constant reminder that their position (e.g. houses are not selling, interest rates are sky high, etc.) is the right position.”

Same sheeple…different herd.

[Author]

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