Forum Replies Created
-
AuthorPosts
-
Reality
ParticipantYou are right, the tax savings don’t cover my costs, but it certainly helps.
Rental from 11 years ago used as an illustrative purpose to let you know that the suckers that pay my mortgage are paying much more than I do
I understand you want to nest and all, so just say so. Don’t try to rationalize your purchase in economic terms. It doesn’t wash. Who are you trying to convince anyway, us or yourself?
BTW, so your tenants pay more than you do? So what? Could they get a better deal today? I suppose if they had a time machine they could go back to 1996, but what makes them “suckers”.
Your choice of word says more about you than them.
ParticipantWhatever Myiot. You don’t want to raise your kids in “temporary rental housing”. What was the home they are moving from if not temporary owned housing? But you’re sure you will live in your new home until they are grown. Right.
What’s the point? Housing is high but renting is as well. I’m not willing to rent any longer and sacrifice not having stability in hopes of getting $80K or 90K more off a home. In the end, higher interest rates will mean the same payment anyway or a landlord raising prices will mean the same.
How will higher interest rates mean the same payment? Don’t you understand economics at all? Higher interest rates will make home prices drop faster. There’s only so much buying power. Most aren’t rich like you or at least don’t brag about their good fortune. It won’t be “the same payment anyway”. Also, renting is a lot cheaper than buying. It’s high, but not near buying currently. But I agree the cost to rent will be a lot closer to that to buy in the future. However, it will be from home prices dropping, not the other way around.
ParticipantWhatever Myiot. You don’t want to raise your kids in “temporary rental housing”. What was the home they are moving from if not temporary owned housing? But you’re sure you will live in your new home until they are grown. Right.
What’s the point? Housing is high but renting is as well. I’m not willing to rent any longer and sacrifice not having stability in hopes of getting $80K or 90K more off a home. In the end, higher interest rates will mean the same payment anyway or a landlord raising prices will mean the same.
How will higher interest rates mean the same payment? Don’t you understand economics at all? Higher interest rates will make home prices drop faster. There’s only so much buying power. Most aren’t rich like you or at least don’t brag about their good fortune. It won’t be “the same payment anyway”. Also, renting is a lot cheaper than buying. It’s high, but not near buying currently. But I agree the cost to rent will be a lot closer to that to buy in the future. However, it will be from home prices dropping, not the other way around.
ParticipantIf you think things are bad for the average folks now, wait until mortgage rates get insane, inflation rises, while salaries stay stagnant.
Wrong. Higher mortgage interest rates will simply drive prices down more.
ParticipantIf you think things are bad for the average folks now, wait until mortgage rates get insane, inflation rises, while salaries stay stagnant.
Wrong. Higher mortgage interest rates will simply drive prices down more.
ParticipantPsychology on the buy-side is of course most relevant in a situation where someone has the means to get into the market but may choose not to. This is where things get interesting. En masse, how long will those who are able to stifle the seemingly inherent urge to own their own home be able to hold off on buying?
The folks with the means to get in who do so won’t affect things much. Most people don’t have the means, not at today’s prices or anything near it. Prices will fall until they are in line with what someone with a normal income can afford. Afford in the traditional sense, that is, not with nonsense financing.
ParticipantPsychology on the buy-side is of course most relevant in a situation where someone has the means to get into the market but may choose not to. This is where things get interesting. En masse, how long will those who are able to stifle the seemingly inherent urge to own their own home be able to hold off on buying?
The folks with the means to get in who do so won’t affect things much. Most people don’t have the means, not at today’s prices or anything near it. Prices will fall until they are in line with what someone with a normal income can afford. Afford in the traditional sense, that is, not with nonsense financing.
June 1, 2007 at 11:49 AM in reply to: So I pulled the trigger: My buying experience in Temecula (long story) #55927Participant
They’re also gambling that interest rates will stay near 50 year lows and not return to a more normal rates which will result in the same out of pocket.Not at all. Some people just don’t get it. There’s only so much purchasing power out there. Higher interest rates will make the prices go down more and faster. It won’t “result in the same out of pocket”.
June 1, 2007 at 11:49 AM in reply to: So I pulled the trigger: My buying experience in Temecula (long story) #55945Participant
They’re also gambling that interest rates will stay near 50 year lows and not return to a more normal rates which will result in the same out of pocket.Not at all. Some people just don’t get it. There’s only so much purchasing power out there. Higher interest rates will make the prices go down more and faster. It won’t “result in the same out of pocket”.
ParticipantImbeciles.
ParticipantImbeciles.
Participant“To the poster that asked why you can’t apply a rent multiplier in San Diego, I should have qualified it by saying “you can’t apply it now” since it has never been this silly.”
Wasn’t that the point of the original post, to get an idea of what prices should be when things aren’t “this silly”?
ParticipantHave we seen any facts or even statistics to back up Alex’s posts yet?
Didn’t think so.
ParticipantSD Realtor,
My post was more an opinion that the original poster is delusional if he thinks he can buy a home $300,000 under market value in an arm’s length transaction. Whatever he pays IS market value, and if he needs this rationalization to pull the trigger it may not be such a great idea.
-
AuthorPosts