[rpachigo]

Originally Posted by jjameson922

According to the Bernake interview Sunday, he is hoping and expecting to see improvement in the latter part of this year.

Sure...

[tony soprano]

Originally Posted by Fastrudy

he is hoping and expecting to see improvement in the latter part of this year....

a better helicopter?

That's classic, although I don't suppose most people will know what you're referring to.

[Daddys///M3]

Originally Posted by lasto

This article came up in discussion a couple weeks back. I think i remember someone saying RE propaganda or somehting alond the lines. But dang as a soon to be LV homeowner, stuff like this makes me anxious to jump on buying a house this year as opposed to next year like i was planning.

Originally Posted by drinkme

That would be nice I plan on buying something soon...

I don't know that I would necessarily "jump on" anything soon based on fear of an immediate recovery and being priced out (or even priced up) of the market.

The way I see it is this: If you can comfortably afford to buy a home (including everything that goes with it, not just the monthly outlay) and are stable in your current employment, then by all means it may make sense for you to buy rather than rent (particularly if your mortgage payment is equal or similar to your current rent payment). If you a) had to deplete all of your liquid assets for the down payment, b) are currently living check to check or would be with a mortgage payment, or c) are not currently at least 90% sure (there is no 100%) about your current stability of employment then I would think twice and maybe even three times about buying.

That being said, I believe that in the second half of this year we will start to see rates climb again (not these small 0.5%-1% fluctuations but a steady rise in average rates to the tune of 2%-3% although gradually). The quantative easing effort the Treasury is using to keep mortgage rates low right now (MBS purchases) will likely be tapped out towards the middle of the summer.

[Daddys///M3]

Originally Posted by tony soprano

That's classic, although I don't suppose most people will know what you're referring to.

2 million deutsche markes to mail a letter?




Or perhaps a slew of these hot off the presses.

[Contrarian]

Helicopter Ben - in a 2002 Speech at Washington Press Club:

Paraphrased: The federal reserve has total control of something called a printing press, therefore with a fiat currency you can always overcome deflation by printing money and dropping it from Helicopters - exactly what they are doing today.

click picture for full effect

[tony soprano]

Originally Posted by Contrarian

click picture for full effect

Nice!

[geos]

Originally Posted by rpachigo

Maybe 3011 but certainly not 2011. Lawrence FunYun is nothing but a real estate propagandist who's been wrong for the past two years. He should be mocked and laughed at much like many real estate propagandists.

So basically he's the Jim Cramer of real estate?

[Wing Feathers]

Originally Posted by Daddys///M3

I don't know that I would necessarily "jump on" anything soon based on fear of an immediate recovery and being priced out (or even priced up) of the market.

The way I see it is this: If you can comfortably afford to buy a home (including everything that goes with it, not just the monthly outlay) and are stable in your current employment, then by all means it may make sense for you to buy rather than rent (particularly if your mortgage payment is equal or similar to your current rent payment). If you a) had to deplete all of your liquid assets for the down payment, b) are currently living check to check or would be with a mortgage payment, or c) are not currently at least 90% sure (there is no 100%) about your current stability of employment then I would think twice and maybe even three times about buying.

That being said, I believe that in the second half of this year we will start to see rates climb again (not these small 0.5%-1% fluctuations but a steady rise in average rates to the tune of 2%-3% although gradually). The quantative easing effort the Treasury is using to keep mortgage rates low right now (MBS purchases) will likely be tapped out towards the middle of the summer.

Thank you for this well thought out advice.

I doubt we will ever "recover". We have reached a new low in political corruption, and the country/world will never be the same. I hope I am wrong, but I just don't see how things can get better???

That said, if I wait to buy something, and a miracle happens... then I am again left out of the market. If I buy, and things get worse, then what does it matter that I am another foreclosure statistic? The country will be in tatters anyway... might as well have a stake in the pain... having stacks of worthless dollars laying around won't make me feel better about it.

Perhaps I am being foolish & pessimistic about it all, but there just isn't a precedent for this situation. Believe me I have lost many nights of sleep over the state of affairs, and have developed quite the drinking habit

[lasto]

Originally Posted by Daddys///M3

I don't know that I would necessarily "jump on" anything soon based on fear of an immediate recovery and being priced out (or even priced up) of the market.

The way I see it is this: If you can comfortably afford to buy a home (including everything that goes with it, not just the monthly outlay) and are stable in your current employment, then by all means it may make sense for you to buy rather than rent (particularly if your mortgage payment is equal or similar to your current rent payment). If you a) had to deplete all of your liquid assets for the down payment, b) are currently living check to check or would be with a mortgage payment, or c) are not currently at least 90% sure (there is no 100%) about your current stability of employment then I would think twice and maybe even three times about buying.



That being said, I believe that in the second half of this year we will start to see rates climb again (not these small 0.5%-1% fluctuations but a steady rise in average rates to the tune of 2%-3% although gradually). The quantative easing effort the Treasury is using to keep mortgage rates low right now (MBS purchases) will likely be tapped out towards the middle of the summer.

I appreciate the insight. I'll give you the low-down on my master plan (no affiliation with the aforementioned deutches reichstadt mark o_O); I'm in the Air Force so I'm about 98% sure of my job security, currently in Germany for another month then I'm off to Honduras for one year while my wife goes to Tucson, upon my return I'll be stationed with Vegas bringing the wife with. While in Hondo I'll be saving up a nice chunk of change to put towards purchasing a house in Vegas with a VA loan. I know I don't need a down payment but I also know that I can get better rates with a decent savings account as well. Now I'm wanting to stay in LV for as long as I can (at least 8 years, preferably longer). So I'd like to use my housing allowance towards a mortgage payment as opposed to just dwindling it away with rent especially since my wife and I would like to stay in LV indefinitely. So what I am thinking now if now is the absolute best time to buy a house is going ahead and jumping on that band wagon and my wife stays in the purchased house in LV instead of back in Tucson. It's a gamble. Go figure.

I've been perusing this forum for months now and only just started getting active. So I'd like to throw a thanks out there for all the people throwing in the great information so people like me are in the know when transplanting in Vegas.

[olecapt]

I would keep watching the LV market and interest rates in general. I see nothing that should concern you before summer but I also see change coming around that point. I however have no idea whether it would be "good" or "bad" change for someone in your position.

So pay attention and try to manuever so you can respond if needed.