Timing the Bottom

[RatherOpinionated]

Very informative link, however it was dated with prices as of June 2007, ie pre subprime meltdown. 6 months later we are already at a price that the article predicted in 5 years. So maybe the bottom has arrived, and you can start to get your feet wet. Deductible interest and build equity.

But wait, those are the high end homes, I guess if you are looking for closer to median or below median there is still pain ahead. I should have made myself more clear earlier.

Sincerely,
Your trollish contrarian

[RatherOpinionated]

Very informative link, however it was dated with prices as of June 2007, ie pre subprime meltdown. 6 months later we are already at a price that the article predicted in 5 years. So maybe the bottom has arrived, and you can start to get your feet wet. Deductible interest and build equity.

But wait, those are the high end homes, I guess if you are looking for closer to median or below median there is still pain ahead. I should have made myself more clear earlier.

Sincerely,
Your trollish contrarian

[RatherOpinionated]

Very informative link, however it was dated with prices as of June 2007, ie pre subprime meltdown. 6 months later we are already at a price that the article predicted in 5 years. So maybe the bottom has arrived, and you can start to get your feet wet. Deductible interest and build equity.

But wait, those are the high end homes, I guess if you are looking for closer to median or below median there is still pain ahead. I should have made myself more clear earlier.

Sincerely,
Your trollish contrarian

[RatherOpinionated]

Very informative link, however it was dated with prices as of June 2007, ie pre subprime meltdown. 6 months later we are already at a price that the article predicted in 5 years. So maybe the bottom has arrived, and you can start to get your feet wet. Deductible interest and build equity.

But wait, those are the high end homes, I guess if you are looking for closer to median or below median there is still pain ahead. I should have made myself more clear earlier.

Sincerely,
Your trollish contrarian

[cooperthedog]

“That is actually an easy one to ansWer. If prices have stopped going down, but still may take years to go up, why rent and give your money away? Why not better to buy now and benefit from deductible mortgage interest and building equity with each payment?”

First off, my basic premise was that home prices have NOT stopped going down, only that the rate of decline may lessen. Second, if one assumes prices have hit bottom, then owning is only beneficial if it is cheaper then renting (taking into consideration all costs and deductions), which is currently not the case. Therefore you are actually giving your money away to the bank. In addition, since renting is significantly cheaper the probability of a bottom is very low and the risk of losing a substantial amount of money purchasing a house are high.

[cooperthedog]

“That is actually an easy one to ansWer. If prices have stopped going down, but still may take years to go up, why rent and give your money away? Why not better to buy now and benefit from deductible mortgage interest and building equity with each payment?”

First off, my basic premise was that home prices have NOT stopped going down, only that the rate of decline may lessen. Second, if one assumes prices have hit bottom, then owning is only beneficial if it is cheaper then renting (taking into consideration all costs and deductions), which is currently not the case. Therefore you are actually giving your money away to the bank. In addition, since renting is significantly cheaper the probability of a bottom is very low and the risk of losing a substantial amount of money purchasing a house are high.

[cooperthedog]

“That is actually an easy one to ansWer. If prices have stopped going down, but still may take years to go up, why rent and give your money away? Why not better to buy now and benefit from deductible mortgage interest and building equity with each payment?”

First off, my basic premise was that home prices have NOT stopped going down, only that the rate of decline may lessen. Second, if one assumes prices have hit bottom, then owning is only beneficial if it is cheaper then renting (taking into consideration all costs and deductions), which is currently not the case. Therefore you are actually giving your money away to the bank. In addition, since renting is significantly cheaper the probability of a bottom is very low and the risk of losing a substantial amount of money purchasing a house are high.

[cooperthedog]

“That is actually an easy one to ansWer. If prices have stopped going down, but still may take years to go up, why rent and give your money away? Why not better to buy now and benefit from deductible mortgage interest and building equity with each payment?”

First off, my basic premise was that home prices have NOT stopped going down, only that the rate of decline may lessen. Second, if one assumes prices have hit bottom, then owning is only beneficial if it is cheaper then renting (taking into consideration all costs and deductions), which is currently not the case. Therefore you are actually giving your money away to the bank. In addition, since renting is significantly cheaper the probability of a bottom is very low and the risk of losing a substantial amount of money purchasing a house are high.

[cooperthedog]

“That is actually an easy one to ansWer. If prices have stopped going down, but still may take years to go up, why rent and give your money away? Why not better to buy now and benefit from deductible mortgage interest and building equity with each payment?”

First off, my basic premise was that home prices have NOT stopped going down, only that the rate of decline may lessen. Second, if one assumes prices have hit bottom, then owning is only beneficial if it is cheaper then renting (taking into consideration all costs and deductions), which is currently not the case. Therefore you are actually giving your money away to the bank. In addition, since renting is significantly cheaper the probability of a bottom is very low and the risk of losing a substantial amount of money purchasing a house are high.

[RatherOpinionated]

Only true on certain properties, plenty out there where the math makes sense

[RatherOpinionated]

Only true on certain properties, plenty out there where the math makes sense

[RatherOpinionated]

Only true on certain properties, plenty out there where the math makes sense

[RatherOpinionated]

Only true on certain properties, plenty out there where the math makes sense

[RatherOpinionated]

Only true on certain properties, plenty out there where the math makes sense

[NYCLurker]

“That is actually an easy one to answer. If prices have stopped going down…”

They haven’t.

[Author]

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