[patientrenter]

[quote=peterb]Just remember, the term “buying” a house has been twisted. Almost no one buys a house, they take out a huge debt to get the title. That aint buying. You pay cash and own it outright, that’s buying. The rest is a strange fantasy people have. So if the payment’s lower, great, but that’s about sustaining debt. Not owning.[/quote]

I dunno, peter. If you go with the standard 3% down, and maybe throw in first-time buyer credits and a little kickback from the agent or broker or one of the other parties getting paid in the deal, you effectively get a very cheap option to (really) buy) at a fixed price. And you can do what you want with the property while you’re considering whether to actually buy. If the prices come down, you go get a modification. If they go up, you can cash in. You pay for the option in small installments. It’s pretty attractive. Hey, if I didn’t know better, I’d say it’s the greatest scam we’ve ever had! Better than mere owning, where you can gain or lose.

[patientrenter]

[quote=peterb]Just remember, the term “buying” a house has been twisted. Almost no one buys a house, they take out a huge debt to get the title. That aint buying. You pay cash and own it outright, that’s buying. The rest is a strange fantasy people have. So if the payment’s lower, great, but that’s about sustaining debt. Not owning.[/quote]

I dunno, peter. If you go with the standard 3% down, and maybe throw in first-time buyer credits and a little kickback from the agent or broker or one of the other parties getting paid in the deal, you effectively get a very cheap option to (really) buy) at a fixed price. And you can do what you want with the property while you’re considering whether to actually buy. If the prices come down, you go get a modification. If they go up, you can cash in. You pay for the option in small installments. It’s pretty attractive. Hey, if I didn’t know better, I’d say it’s the greatest scam we’ve ever had! Better than mere owning, where you can gain or lose.

[patientrenter]

[quote=peterb]Just remember, the term “buying” a house has been twisted. Almost no one buys a house, they take out a huge debt to get the title. That aint buying. You pay cash and own it outright, that’s buying. The rest is a strange fantasy people have. So if the payment’s lower, great, but that’s about sustaining debt. Not owning.[/quote]

I dunno, peter. If you go with the standard 3% down, and maybe throw in first-time buyer credits and a little kickback from the agent or broker or one of the other parties getting paid in the deal, you effectively get a very cheap option to (really) buy) at a fixed price. And you can do what you want with the property while you’re considering whether to actually buy. If the prices come down, you go get a modification. If they go up, you can cash in. You pay for the option in small installments. It’s pretty attractive. Hey, if I didn’t know better, I’d say it’s the greatest scam we’ve ever had! Better than mere owning, where you can gain or lose.

[patientrenter]

[quote=peterb]Just remember, the term “buying” a house has been twisted. Almost no one buys a house, they take out a huge debt to get the title. That aint buying. You pay cash and own it outright, that’s buying. The rest is a strange fantasy people have. So if the payment’s lower, great, but that’s about sustaining debt. Not owning.[/quote]

I dunno, peter. If you go with the standard 3% down, and maybe throw in first-time buyer credits and a little kickback from the agent or broker or one of the other parties getting paid in the deal, you effectively get a very cheap option to (really) buy) at a fixed price. And you can do what you want with the property while you’re considering whether to actually buy. If the prices come down, you go get a modification. If they go up, you can cash in. You pay for the option in small installments. It’s pretty attractive. Hey, if I didn’t know better, I’d say it’s the greatest scam we’ve ever had! Better than mere owning, where you can gain or lose.

[patientrenter]

4plex, I am a lot more skeptical of assets that have tripled in price recently than I am of other assets. Have I ever bought any? Yes. Am I less likely to buy these assets than others? Yes.

I am not saying you will be unhappy if you buy an asset that has tripled. If you are very committed to such an asset, for whatever reason, then go for it, and I wish you good luck.

[patientrenter]

4plex, I am a lot more skeptical of assets that have tripled in price recently than I am of other assets. Have I ever bought any? Yes. Am I less likely to buy these assets than others? Yes.

I am not saying you will be unhappy if you buy an asset that has tripled. If you are very committed to such an asset, for whatever reason, then go for it, and I wish you good luck.

[patientrenter]

4plex, I am a lot more skeptical of assets that have tripled in price recently than I am of other assets. Have I ever bought any? Yes. Am I less likely to buy these assets than others? Yes.

I am not saying you will be unhappy if you buy an asset that has tripled. If you are very committed to such an asset, for whatever reason, then go for it, and I wish you good luck.

[patientrenter]

4plex, I am a lot more skeptical of assets that have tripled in price recently than I am of other assets. Have I ever bought any? Yes. Am I less likely to buy these assets than others? Yes.

I am not saying you will be unhappy if you buy an asset that has tripled. If you are very committed to such an asset, for whatever reason, then go for it, and I wish you good luck.

[patientrenter]

4plex, I am a lot more skeptical of assets that have tripled in price recently than I am of other assets. Have I ever bought any? Yes. Am I less likely to buy these assets than others? Yes.

I am not saying you will be unhappy if you buy an asset that has tripled. If you are very committed to such an asset, for whatever reason, then go for it, and I wish you good luck.

[patientrenter]

I agree that buying things that have tripled in price in recent times isn’t a wise long-term strategy. Might work a few times, and won’t work others. Could be very painful overall. Look first for assets that are priced less than their long-term average.

[patientrenter]

I agree that buying things that have tripled in price in recent times isn’t a wise long-term strategy. Might work a few times, and won’t work others. Could be very painful overall. Look first for assets that are priced less than their long-term average.

[patientrenter]

I agree that buying things that have tripled in price in recent times isn’t a wise long-term strategy. Might work a few times, and won’t work others. Could be very painful overall. Look first for assets that are priced less than their long-term average.

[patientrenter]

I agree that buying things that have tripled in price in recent times isn’t a wise long-term strategy. Might work a few times, and won’t work others. Could be very painful overall. Look first for assets that are priced less than their long-term average.

[patientrenter]

I agree that buying things that have tripled in price in recent times isn’t a wise long-term strategy. Might work a few times, and won’t work others. Could be very painful overall. Look first for assets that are priced less than their long-term average.

[patientrenter]

Who knows why?

Maybe the owner found the right appraiser and lender, or hopes to. After all, if it’s legal then it’s OK, even if it’s unethical by most of our standards.

[Author]

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