[BuyerWillEPB]

Merry Christmas!

[BuyerWillEPB]

powayseller – Wow, you really sparked a good discussion from this post.

I will play devil’s advocate for a moment because I didn’t see any mention of an important topic. Definitely, everyone in this post brings up issues that must be considered with regards to housing being one of our largest INVESTMENTS.

I think we should also remember the value of housing as a HOME. Remember back when the house you lived in felt like home instead of your 401K? I hope that feeling returns again after all this craziness is cleared away and I can actually afford to buy. 🙂

Think about it. If (and yes, I know in many cases it’s a big IF) you had bought a house for a decent price many years ago before the bubble, and you had a decent fixed rate conventional mortgage, reasonable Prop 13 property taxes, a stable job, and you actually liked your place, and it felt like HOME, that would be a good reason to not sell right now.

[BuyerWillEPB]

asianautica brings up a good point about the .com crash in 2001. I was a new investor, and I remember myself agreeing with the propaganda fed to me at the time, things like, “The stock market is not really a bubble,” and “the current situation is not like the past where fundamentals were important.” There were too many of these “expert” opinions to list, and most of them were wrong.

Anyway, the point is, I learned from this experience. Over the last few years, we have heard much of the EXACT same kind of “expert” propaganda being fed to us about the housing market. Granted, in some ways real estate is different from stocks, but in many ways it is the same. Every day I see similarities to the stock market crash in 2001. The lessons I learned from that time tell me that I should wait awhile longer as the housing market WILL go through a down cycle. Nothing can stop it at this point.

By the way, FYI about my stocks back in 2001. I ended up keeping every stock I had bought around 1998. They reached incredibly high levels and I did not sell. They then crashed miserably after 2001 of course, I still did not sell. By 2005, they had recovered nicely, and I finally sold half to pay off my student loans. This was a VERY good lesson in market cycles.

[BuyerWillEPB]

After I graduated in 2004, I knew I would never get another chance to take time off once I started the career. So I took 3 months off and traveled all over China. This post reminded me of how I described to my family what it’s like there.

I told them to think about how we imagine the 1950’s here in the USA. We think of everyone getting good jobs, buying a car, a TV. We think of families, and neighbors getting together and talking and having fun. (One time I even saw all the neighbors gathered around one family TV just like they did here a long time ago.) We think of it as an exciting time, with lots of hope for something better. Well, China is like that right now. The feeling I got when I was there is that right now, for them, is like the 1950’s was here.

[BuyerWillEPB]

Yes, “do everything humanly possible” like wait a couple years for prices become affordable again, and never, ever accept a suicide loan or becoming a house slave.

[BuyerWillEPB]

And AGAIN in the same article…

“Cindy and her family have already bought a new house. They’re now paying two mortgages. So last summer she quit her job as a pastry chief to devote all her time to marketing her old house where she is armed with desserts, ready to SNARE a prospective buyer.”

I’m really feeling like the bushy tailed fox in Ye olde fox hunt.

[BuyerWillEPB]

Found another one today…

“Luring a buyer isn’t easy anymore which means if you want a good price for your house, you’re going to have to work for it.”

Found it here:

http://themessthatgreenspanmade.blogspot.com/2006/11/nar-has-much-more-work-to-do.html

[BuyerWillEPB]

Here is one example…

“There’s a lot more to selling your home than putting a sign in the front yard, and the more thoroughly you plan your marketing campaign, the sooner you are likely to snare a buyer. Here’s a checklist of important points to consider as you prepare your plan of attack:”

“Snare” a buyer!? “Plan of attack!?” Feels like they are declaring war on me.

Found it one here:

http://www.money99.com/info/selling.htm

[BuyerWillEPB]

Yes, they mentioned this over at the “Housingbubble” blog too. How it appears that the economists know the bubble will burst severely, but they have to sugar coat their predictions.

[BuyerWillEPB]

It’s not like I want to time the bottom of the market, I am FORCED to wait for the bottom in order to afford to buy in. And by “afford” I mean a non-toxic, traditional, PITI type financing. I think there must be millions of others in my same shoes.

So I agree with you that the prices will have to revert back to the mean. Sooner rather than later (I hope).

[BuyerWillEPB]

Dumb kids? Not everyone gets born into priviledge.

I am a vet too, and I was even a grunt (USMC 0313). Now I have a BSME from UCSD. So I have seen both worlds. Granted, there are good and bad elements in both worlds, but I see more honor, respect, and goal oriented teamwork from the vets, and more cut-throat, individualistic weakness, and arrogance from the pampered rich kids.

[BuyerWillEPB]

Too harsh SDgal. What’s wrong with some off topic discussion? Why don’t you go ahead and post something instead of complaining.

I’m on JG’s side.

[BuyerWillEPB]

From what I’ve seen, China has the craziest drivers. The pedestrians have NO right of way there. It’s just a free for all.

The only rule seems to be, you can drive any way, and anywhere you want, just honk your horn ALOT.

[BuyerWillEPB]

Well, the 90% will be correct that their home will increase in value over the next 20 – 30 years.

But as for the 53% hoping for an increase in the next year… they must have the thickest BEER goggles to think that.

[BuyerWillEPB]

Cool – the link works. Woohoo! A new Piggington lesson learned.

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