[SKB]

I was wondering when Tallrick was going to jump into this debate.

Welcome back Tallrick.

[kort677]

Originally Posted by SKB

In all respect Kort, your opinion seems to be as strong if not stronger than mine in the other direction, as you are the one that bought a house this week.
If anyone is at risk, it's certainly not me.

I know what my risks are and I accept them, I am in for the long term and I don't think the housing market will remain in the toilet forever. So if it takes 1-5-10 years for things to recover, so be it, I got a good deal for what I bought and am willing to ride it out.
All I am saying is that things never remain the same.
I bought RE in 82 and 90 both buys were in the worst RE markets of those times, and I had to ride out periods of negative appreciation, so what? long term I've made out real well.
Another gem from wall st:
nothing ventured nothing gained
or one from sports, you'll never score on a shot that you don't take.

[tallrick]

Originally Posted by SKB

I was wondering when Tallrick was going to jump into this debate.

Welcome back Tallrick.

Thanks! I have been away due to no fault of my own...

[Mike1306]

Originally Posted by SKB

"and the renter has nothing to show for his years of paying rent"

Just ask the ones that have been saving the difference between the mortgage payment and rent payment.

99% of the time the rent payment will be more than the mortgage payment.
You are taking an anomaly and trying to pass it off as the norm.
Yes at this time there are certain homes that can be rented for less than the mortgage payment but what about the other 29 out of the last 30 years where the rent payment is more than the mortgage payment would be.
So put one years of meager gains against 29 years of losses.
Besides the fact that the homeowner gains equity.
The majority of the homes owned in this country were not just bought in the last 2 years and the majority of the owners are not in dire financial straits.

[kort677]

Originally Posted by Mike Peterson

99% of the time the rent payment will be more than the mortgage payment.
You are taking an anomaly and trying to pass it off as the norm.
Yes at this time there are certain homes that can be rented for less than the mortgage payment but what about the other 29 out of the last 30 years where the rent payment is more than the mortgage payment would be.
So put one years of meager gains against 29 years of losses.
Besides the fact that the homeowner gains equity.
The majority of the homes owned in this country were not just bought in the last 2 years and the majority of the owners are not in dire financial straits.

not according to the main stream media, and the sheeple that buy into anything they put out there

[firemed]

Originally Posted by kort677

I know what my risks are and I accept them, I am in for the long term and I don't think the housing market will remain in the toilet forever. So if it takes 1-5-10 years for things to recover, so be it, I got a good deal for what I bought and am willing to ride it out.
All I am saying is that things never remain the same.
I bought RE in 82 and 90 both buys were in the worst RE markets of those times, and I had to ride out periods of negative appreciation, so what? long term I've made out real well.
Another gem from wall st:
nothing ventured nothing gained
or one from sports, you'll never score on a shot that you don't take.

Hey KOOL-AID !!!!

[kort677]

Originally Posted by firemed

Hey KOOL-AID !!!!

if you call 400% returns on real estate over the years a call for kool aid, bring it on, I'll drink til I burst

[SKB]

Originally Posted by kort677

I know what my risks are and I accept them, I am in for the long term and I don't think the housing market will remain in the toilet forever. So if it takes 1-5-10 years for things to recover, so be it, I got a good deal for what I bought and am willing to ride it out.
All I am saying is that things never remain the same.
I bought RE in 82 and 90 both buys were in the worst RE markets of those times, and I had to ride out periods of negative appreciation, so what? long term I've made out real well.
Another gem from wall st:
nothing ventured nothing gained
or one from sports, you'll never score on a shot that you don't take.

Who will be further out ahead you or me?

If I rent for 1,000 per month a nice 3 bed +den two bath, pool, nicely landscaped, fenced etc..and wait for the price to come down for a year. So it costs me 12K. What if that house depreciates in 12 months 24K and I buy it then. I have now saved myself 12K + property taxes and insurance and maintenance.

I just don't understand why you bought now, in a declining market? We have no idea how far down prices will go.

My friends have now lost 20K+ from when they bought in Feb, that is only four months ago.
Do you think it was wise for them to buy then? They are in it long term but still they could have rented out the same place for 1750 monthly right down the street. What if this place depreciates another 20K in the next four months?
What if I can buy it for 100K less next year in Oct, shouldn't I wait?

You really believe that the prices are not going to come down don't you?

I wish I had that confidence, I just don't want to risk it. It's to big a loss for me to take.

Well, enjoy your new house, I am sure it must be pretty nice.

[firemed]

Originally Posted by kort677

if you call 400% returns on real estate over the years a call for kool aid, bring it on, I'll drink til I burst

I don't think it would be fair. But you are a little late to the game. I was in the 1st inning don't forget I was here. Thats history now. And here is some more history
Anybody who had chosen this moment to predict that the bull market was on the verge of a wild advance which would make all that had gone before seem trifling would have been quite mad-or else inspired with a genius for mass psychology. The banker who advised caution was quite right about financial conditions, and so were the forecasters. But they had not taken account of the boundless commercial romanticism of the American people,


Home, Sweet Florida

[kort677]

Originally Posted by firemed

I don't think it would be fair. But you are a little late to the game. I was in the 1st inning don't forget I was here. Thats history now. And here is some more history


Home, Sweet Florida

do you really believe that FLA is the only place where values went up, you're forgetting lesson #1 all real estate is local, and my local market back in NJ went up 400% while my inlaws home not 7 miles away went up only 200% over the same time, the point is I made my money on the way up all I am doing is changing venues