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For the folks that are capable of truly being rational about the "rent vs buy" decision, and understand the risks that go along with EITHER SIDE of that decisions I have nothing but respect.
The goofballs I refer to are those that can not see that even in pieces they themselves quote / link to their are OPPORTUNITES for both investors and buyers and for them to have this "renting is the ONLY WAY to STICK IT TO THE LENDERS " warped mindset I have to call them out.
There are opportunities in all markets. Just because a lucky investor can make money in this economy doesn't mean that things are all rosy and sunshine.
Quote:
Believe me there have been many periods when rents have not just increased, rental units themselves have all but impossible to find. When Silicon Valley programers pack foru and five into a three bedroom home or oildmfield workers in Houston drive daily from Louisiana becuase of NO rentals that is a situation no with a famikynwnats to face...
The economy will come back to a healthynstste andnwhenit does the emotional fools will be left out inn the cold.
There are opportunities in all markets. Just because a lucky investor can make money in this economy doesn't mean that things are all rosy and sunshine.
....
Buy now or be priced out forever!
What's lucky if someone repeatedly makes good business decisions?
Why do you always throw that "Buy now..." around on here? I never used it, I've never seen Chet use it, I haven't heard too many agents period use it?
So, in classic fashion - you blame the folks who lost their jobs instead of the "incredibly profitable" companies? Awesome. Over 1 in 5 people are un(der)employed while companies "make" money by continuing to reduce operating costs (aka layoff and outsource)... or maybe you mean the Primary Dealers of The Fed who are being handed 10s of billions a day to keep the stock market green and line their pockets with millions in fees for doing nothing except buying AAPL and NetFlix - all so we can preserve the wealth of the richest folks via the SP500? Sure the TBTF hand outs to take a bailout are probably on your "handsomely rewarded" list. Way to take on no risk and just fall on the pillow of our tax dollars. Seriously, what a joke. These companies are not making money and profitable in the way that you insinuate AT ALL... Fundamentals?! Please.
So yeah - "faster and wider" for sure... But don't sit there and pretend it's a "robust economy". Let's fudge GDP by stacking inventories, let's believe the BLS with their UE and CPI data. What inflation, right?! I mean come on, flat screens are still cheap - who cares about the price of energy and foodstuffs. Who cares about what is happening globally. Who cares about how municipalities at every level need to raise taxes just to meet their MINIMUM debt obligations. Who needs a budget when my ETF is doing awesome! I eat ETFs for breakfast and pay more for housing... Housing is going UP!
Seriously, Bernanke has all but abandoned housing and you best hope that those GSEs keep lending through insolvency and rising interest rates. Even then the downward pricing pressure on homes is incredible.
Yep....no matter how hard anyone tries, one can not refute any of this...state/municipal bankruptcies, rising personal income taxes (what, a 67% increase in IL???) and rising property taxes to make up budget shortfalls is the new normal.
It is going to get very, very bloody very soon....more than one could ever imagine. This is the stuff only Hollywood could think up!
I just wonder when people are going to rise up and say they've had enough....or do they still don't get it?
"November home prices continued their latest slump, falling 1% compared with October, according to the latest S&P/Case-Shiller Home Price Index of 20 metro markets."
"With these numbers, more analysts will be calling for a double-dip in home prices," said David Blitzer, spokesman for Standard & Poor's."
So, in classic fashion - you blame the folks who lost their jobs instead of the "incredibly profitable" companies? Awesome. Over 1 in 5 people are un(der)employed while companies "make" money by continuing to reduce operating costs (aka layoff and outsource)... or maybe you mean the Primary Dealers of The Fed who are being handed 10s of billions a day to keep the stock market green and line their pockets with millions in fees for doing nothing except buying AAPL and NetFlix - all so we can preserve the wealth of the richest folks via the SP500? Sure the TBTF hand outs to take a bailout are probably on your "handsomely rewarded" list. Way to take on no risk and just fall on the pillow of our tax dollars. Seriously, what a joke. These companies are not making money and profitable in the way that you insinuate AT ALL... Fundamentals?! Please.
So yeah - "faster and wider" for sure... But don't sit there and pretend it's a "robust economy". Let's fudge GDP by stacking inventories, let's believe the BLS with their UE and CPI data. What inflation, right?! I mean come on, flat screens are still cheap - who cares about the price of energy and foodstuffs. Who cares about what is happening globally. Who cares about how municipalities at every level need to raise taxes just to meet their MINIMUM debt obligations. Who needs a budget when my ETF is doing awesome! I eat ETFs for breakfast and pay more for housing... Housing is going UP!
Seriously, Bernanke has all but abandoned housing and you best hope that those GSEs keep lending through insolvency and rising interest rates. Even then the downward pricing pressure on homes is incredible.
perosanlly it like buyig anyhtign else you buy. I don't baslme the people for buyng just as I don't thnik companies maked the choice to buy. Its lie anyhtig else;oits a risk you take an evaulated. I mnay cases that decison if made wrong by enough peopole can lead to people losinf ther jobs when the economy is effect as we have seen. Its not just limited to homes either ;loo at the amout of credit debt by mnay. Also alot fo thsoe people should never have bought a home. Ulimately i a free coutry we have chice s and many just risk toojuch or in this case foten don't even think abou tit seeign their friend etc makig out well. Theere are always ups and downs and timing ;good sense there is no substitue for. For too long governamnt has pormote home ownereship for thsoe that could afford homes also to the degreee that thery ehlp when they had no down payment;no closing cost and certainly cpouldn;t afforsd upkkeep. The government i fact boguht these moratgages knowing thsi wih Taxpayer moeny backing it.They thought of it a wealth sharing ;rememeber?Subtract these type loans and the present situation would belike the 70's recession in housing.
To Chet Everett: I just read the entirety of this thread to date and one thing leaps out at me: For someone who keeps talking about rationality versus emotionalism, you sure do sound emotional and you use a lot of emotionally loaded language. You are hardly a disinterested party, as you have something to sell. The tobacco companies sell cigarettes; can we trust them to give us the straight scoop about health and safety?
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