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Old 03-29-2014, 11:50 AM
 
2 posts, read 1,860 times
Reputation: 15

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Quote:
Originally Posted by AADAD View Post
This is poor advice.
Poor advice, really??????
Only a fool would accept this fake run up in real estate prices and waste his savings to purchase a house today.
The Fed is buying mortgage backed securities and suppressing interest rates in order to support those inflated home prices..
Demand for buying a house has been crashed since last June when interest rates run up just a point.
What will happen when interest rates go over 5%??????????
Today prices can't be supported when interest rates go up.
Today prices are in a bubble, fake prices pushed up by speculators, not organic buyers.
Organic buyers can't afford to buy a house today.

This recovery is illusion, the only thing that FED has managed to do since 2009 is to inflate the stock market and housing market. If you don't own a house or stocks then there is no recovery for you.
The real recovery is usually felt across the board, everyone feels its getting better. In this jobless and fake recovery everything is phony. You got inflated and fake housing market and stock market, that's it.

Remember, housing recovery is a scam that has been created by the Big Banks, the Fed and Wall Street Crooks.
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Old 03-29-2014, 12:10 PM
 
Location: San Diego
11 posts, read 14,536 times
Reputation: 20
I'm getting confused as well. We wouldn't buy beyond our means and we are only looking to buy if there is something affordable and has resale value. I guess we 'll just take our time looking for a good deal like a short sale or something. We plan on possibly buying next winter.
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Old 03-29-2014, 12:34 PM
 
Location: 92037
4,630 posts, read 10,274,083 times
Reputation: 1955
Quote:
Originally Posted by jyk2111 View Post
I'm getting confused as well. We wouldn't buy beyond our means and we are only looking to buy if there is something affordable and has resale value. I guess we 'll just take our time looking for a good deal like a short sale or something. We plan on possibly buying next winter.
I am not able to relate to needing the schools because we dont have kids. So from that standpoint, I understand its a totally different set of rules, so I am just sticking to the buying aspect.

There are some general rules about buying vs renting and the pros and cons and all part of the process. I am sure the interwebs are full of blogs etc about that. So need to reinvent the wheel.

But since buying and factoring the school strategy, the question is: Are you comfortable with the payments for a 450k property and keeping this MH condo? Or is this a maxed out amount set by a bank or just running the numbers yourself? Do you leave yourselves any wiggle room or are you full tilt? Does it feel like you have things so calculated that if one thing changes (godforbid), all the dominoes fall?

What happens if you do nothing?

National statistics or news bytes from CNBC should be used with caution that the end of the world is coming. We all know what that interest rates are low etc. and that they can go up. No crystal balls here.

It sounds like you guys are thinking about this and thats great. Just remember, you are paying your mortgage, not them. You absolutely should feel that you can comfortably afford it and not be tempted to 'trick' yourself into thinking otherwise
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