Don't buy in charlotte!

[mullman]

Originally Posted by lovesMountains

Ani, you know how it is - bored people are boring people

+1




There are also three types of people:

1- Those who make things happen
2- Those who watch things happen
3- Those who say 'What happened?'

[NCyank]

Originally Posted by mullman

+1




There are also three types of people:

1- Those who make things happen
2- Those who watch things happen
3- Those who say 'What happened?'

you forgot the other type...

4- Those who just have to say 'I told you so, if you had oooonly listened to me.'

[Carolina Blue]

To say that someone should not buy real estate, regardless of the circumstances, is a stretch; especially considering home ownership is supposed to be a long-term investment.

And as I always like to say, everything is relative. So if someone was going to buy a home somewhere in the US last year, Charlotte would have been a good market to buy in…

Article from today: Local home prices rise, best among 20 markets | CharlotteObserver.com

Relative to the rest of the country; given our price declines, and considering our regions current unemployment rate; one could argue we’re still waiting on the catastrophic collapse the OP forecast to happen.

[wsobchak]

"home ownership is supposed to be a long-term investment".

Home ownership is NOT supposed to be a long-term investment. It is SUPPOSED to be a place to lay one's head out of the cold; a place to live in and call one's own. We got in this sordid mess because "they" even saw something as critically needed as shelter as a way to rip off people for every penny they could by making it a speculative venture.

Incidentally, having a mortgage is not home ownership. You own the home only when you hold the title.

The only way Reagan's sordid global credit market (and the banks and Wall Street) could survive is if the drop in housing prices was temporary. The reality is that purported house values have far, far, far surpassed the ability of the average American to afford them. So now the Obama administration is trying to invent creative ways for people to continue to pay mortgages on housing that aren't (and never were) worth a fraction of the original selling price.

I am not suggesting that people shouldn't buy houses. I am advising people not to buy a house built during the scandal (built after 2000). They have little intrinsic value.

[pink caddy]

Originally Posted by massageman

Always great to hear from you, John! I always wondered who would be the last person to buy copies of those house flipping manuals.

Always a pleasure to hear from you my man. I'v stopped buying those manuals a while back and now concentrate on how to pick your pockets.
We (about15 people ) brought your name up tonite at a CD reunion . I must say, please take no offense, most people think your're.... well there's good news and bad news.

The good news is_. The bad news is the consensus believe you're a class A *******. Sorry. I tried to defend you but you know when the crowd gets out of hand. . . ba bing!

As always you are in my thoughts,
Your pal,
John