[loves2read]

Tract builders who live on their float are the ones who are worried--the market for easy sales has dried up and slowed down their sales --which directly affects their quarterly earning--which directly affects their stock prices/bonuses/negative reactions from their corporate board and execs--

If the OP is upset because he can't get a house at a price he thinks is fair--too bad--obviously the market does not agree with you or more houses would be priced lower--

people who are living in a house and making their bills --- why should they take less than they think their house is worth to make YOU happy--that would be stupid on their part--if they can afford to wait, then they will...if that is a bad decision (with hindsight), they will learn soon enough...

think much of this hoopla is just newspapers churning info--they give stories on both sides of the issues in same paper--and no one seems to ask them why they are trumpeting two stories w/opposite facts---

[Audacious]

Originally Posted by UKOK

That is not the point. The point is; Is it better for me financially to buy or rent this house? Why would I care how he's making out?

In the long haul it is always better to own. All the more so now that housing has dropped 30% from 2005. In spite of "the cheif" and others, it is a pretty good time to buy.

[SKB]

Originally Posted by kort677

the guy renting you the house could still be making out, he has the renter covering some of his costs and he carries the house through bad times, even if the bad times last 10-20 years, he still owns the house and the renter has nothing to show for his years of paying rent

"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.

[kort677]

Originally Posted by UKOK

That is not the point. The point is; Is it better for me financially to buy or rent this house? Why would I care how he's making out?

no the point that was trying to be floated was that there are guys who are stuck in their homes and will bail at any opportunity and there certainly are people in that boat and sure you might get a cheap rental, but unless your predicted crash happens, and I don't think it will be as hard as some people who post here do, in a few years when things do change and they will, you might be left on the sidelines again and that guy who you rent from will have had you paying his costs over the bad times and he will reap the benefits.
YMMV

[firemed]

Originally Posted by Audacious

In the long haul it is always better to own. All the more so now that housing has dropped 30% from 2005. In spite of "the cheif" and others, it is a pretty good time to buy.

I wish I was renting , Cash is king right now. Renters can save cash each month. Us owners are just stuck with the paper gains. If I was looking to sell I would tell you now is the time to buy. But when is the time not to buy ? Its all sales, easy money based on a false urgency. There is a sucker born every minute. If your renting you can just move with ease. Try it when you own .

[kort677]

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.

I don't know where you are but that is a fallacy, rents around JAZ are not going to be too much lower than owning, unless you think you're finding a zero down payment on a purchase.

[kort677]

Originally Posted by firemed

I wish I was renting , Cash is king right now. Renters can save cash each month. Us owners are just stuck with the paper gains.

unless you need to sell now, what's the difference?
those with short term views concerning real estate will almost always get burned, historically speaking the last few years were an aberration, and once this shake out finishes real estate will appreciate as it always has, but at more normal 3-6% annually

[kort677]

Originally Posted by Audacious

In the long haul it is always better to own. All the more so now that housing has dropped 30% from 2005. In spite of "the cheif" and others, it is a pretty good time to buy.

yup, real estate is on sale, and the sales never last forever

[kort677]

Originally Posted by loves2read

think much of this hoopla is just newspapers churning info--they give stories on both sides of the issues in same paper--and no one seems to ask them why they are trumpeting two stories w/opposite facts---

newspapers need to sell papers, tv stations need ratings.
people are voyeurs and love a story about how others are suffering so the papers or tv station finds an extreme case where someone who is in dire straights allows themselves to be exploited, it makes for great story lines and people live to read it.
All the newspaper has to do is print hurricane, it's the same concept

[firemed]

Originally Posted by kort677

unless you need to sell now, what's the difference?
those with short term views concerning real estate will almost always get burned, historically speaking the last few years were an aberration, and once this shake out finishes real estate will appreciate as it always has, but at more normal 3-6% annually

I would like to think so but look back at Florida 1927, Its about the same right now.