Should I wait a year or buy now?

[HereWeGo]

I think real estate starts to become interesting maybe 8-12 months away, but don’t expect any near term appreciation once you buy. I’m looking for a collapse in rents. If that happens, I’ll shift from extremely bearish to mildly bearish or even neutral.

[(former)FormerSanDiegan]

Marion, you are not really in a position to buy right now if you don’t have reserves and a down payment.

Most first-time buyers don’t have the luxury of both a large down payment (e.g. 20%) AND 6 months of cash reserves. If you can find a decent loan at 5% down, then from a first-time buyer’s perspective it would be better to have larger reserves than to make a larger down payment (assuming affordable payments). That shifts more of the risk onto the lender than the borrower.

[(former)FormerSanDiegan]

Marion, you are not really in a position to buy right now if you don’t have reserves and a down payment.

Most first-time buyers don’t have the luxury of both a large down payment (e.g. 20%) AND 6 months of cash reserves. If you can find a decent loan at 5% down, then from a first-time buyer’s perspective it would be better to have larger reserves than to make a larger down payment (assuming affordable payments). That shifts more of the risk onto the lender than the borrower.

[(former)FormerSanDiegan]

Marion, you are not really in a position to buy right now if you don’t have reserves and a down payment.

Most first-time buyers don’t have the luxury of both a large down payment (e.g. 20%) AND 6 months of cash reserves. If you can find a decent loan at 5% down, then from a first-time buyer’s perspective it would be better to have larger reserves than to make a larger down payment (assuming affordable payments). That shifts more of the risk onto the lender than the borrower.

[(former)FormerSanDiegan]

Marion, you are not really in a position to buy right now if you don’t have reserves and a down payment.

Most first-time buyers don’t have the luxury of both a large down payment (e.g. 20%) AND 6 months of cash reserves. If you can find a decent loan at 5% down, then from a first-time buyer’s perspective it would be better to have larger reserves than to make a larger down payment (assuming affordable payments). That shifts more of the risk onto the lender than the borrower.

[(former)FormerSanDiegan]

Marion, you are not really in a position to buy right now if you don’t have reserves and a down payment.

Most first-time buyers don’t have the luxury of both a large down payment (e.g. 20%) AND 6 months of cash reserves. If you can find a decent loan at 5% down, then from a first-time buyer’s perspective it would be better to have larger reserves than to make a larger down payment (assuming affordable payments). That shifts more of the risk onto the lender than the borrower.

[mixxalot]

I work as an Oracle database consultant.

In past 12 years, I have worked both as a regular full time employee and as a consultant and contract employee.

Fact is: UNLESS you have a secure and stable government job then full time employment is really a joke unless you are very lucky and work for a stable company. Which is rare these days.

I like consulting better because I can make as much in 4-6 months that I would make in a year or two at most full time jobs. This gives me time to travel, write and enjoy living.

I think that we need to wake up and live more like people enjoy life in Latin America and European nations who get way more time off to enjoy living and not just to live to work and consume expensive life style on credit.

Brazilians have it way easier than Americans in terms of life and vacation. Same for the French!

-mixx

[mixxalot]

I work as an Oracle database consultant.

In past 12 years, I have worked both as a regular full time employee and as a consultant and contract employee.

Fact is: UNLESS you have a secure and stable government job then full time employment is really a joke unless you are very lucky and work for a stable company. Which is rare these days.

I like consulting better because I can make as much in 4-6 months that I would make in a year or two at most full time jobs. This gives me time to travel, write and enjoy living.

I think that we need to wake up and live more like people enjoy life in Latin America and European nations who get way more time off to enjoy living and not just to live to work and consume expensive life style on credit.

Brazilians have it way easier than Americans in terms of life and vacation. Same for the French!

-mixx

[mixxalot]

I work as an Oracle database consultant.

In past 12 years, I have worked both as a regular full time employee and as a consultant and contract employee.

Fact is: UNLESS you have a secure and stable government job then full time employment is really a joke unless you are very lucky and work for a stable company. Which is rare these days.

I like consulting better because I can make as much in 4-6 months that I would make in a year or two at most full time jobs. This gives me time to travel, write and enjoy living.

I think that we need to wake up and live more like people enjoy life in Latin America and European nations who get way more time off to enjoy living and not just to live to work and consume expensive life style on credit.

Brazilians have it way easier than Americans in terms of life and vacation. Same for the French!

-mixx

[mixxalot]

I work as an Oracle database consultant.

In past 12 years, I have worked both as a regular full time employee and as a consultant and contract employee.

Fact is: UNLESS you have a secure and stable government job then full time employment is really a joke unless you are very lucky and work for a stable company. Which is rare these days.

I like consulting better because I can make as much in 4-6 months that I would make in a year or two at most full time jobs. This gives me time to travel, write and enjoy living.

I think that we need to wake up and live more like people enjoy life in Latin America and European nations who get way more time off to enjoy living and not just to live to work and consume expensive life style on credit.

Brazilians have it way easier than Americans in terms of life and vacation. Same for the French!

-mixx

[mixxalot]

I work as an Oracle database consultant.

In past 12 years, I have worked both as a regular full time employee and as a consultant and contract employee.

Fact is: UNLESS you have a secure and stable government job then full time employment is really a joke unless you are very lucky and work for a stable company. Which is rare these days.

I like consulting better because I can make as much in 4-6 months that I would make in a year or two at most full time jobs. This gives me time to travel, write and enjoy living.

I think that we need to wake up and live more like people enjoy life in Latin America and European nations who get way more time off to enjoy living and not just to live to work and consume expensive life style on credit.

Brazilians have it way easier than Americans in terms of life and vacation. Same for the French!

-mixx

[Anonymous]

I can wait a year if it’s best for me.

Thanks to all that have replied thus far.

[Anonymous]

I can wait a year if it’s best for me.

Thanks to all that have replied thus far.

[Anonymous]

I can wait a year if it’s best for me.

Thanks to all that have replied thus far.

[Anonymous]

I can wait a year if it’s best for me.

Thanks to all that have replied thus far.

[Author]

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