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Thread summary:

Moving to Tennessee: Knoxville, real estate market, homes for sale, buy a house, mortgage.

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Old 09-17-2007, 01:23 AM
pdq
 
170 posts, read 527,219 times
Reputation: 33

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bfskinnerpunk,

Flat markets are actually down markets after they're adjusted for inflation.

Good luck to all.
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Old 09-17-2007, 12:13 PM
 
188 posts, read 567,040 times
Reputation: 118
Yes, I recognize that. Somehow, I fail to get terribly worked up about a few flat years. My idea is to pay off the house and just live in it. (and I understand that financial people feel that paying off a house is a bad idea...better to invest)

I have a friend who has, since 1990, predicted economic doom. When he describes why the economy is going down, he always has excellent reasons. After a chat with him, you are convinced that he is correct... he really loves to talk about it.

Unfortunately, he has been able to convincingly describe the upcoming economic depression at almost any time since the 1960's according to his friends.

From my childhood memories of the news and my dad's conversations with other grown-ups, it seems that there have always been excellent reasons for a terrific economic crash. There are always good reasons NOT to invest in stocks and real estate.

That's all I'm saying. After the ridiculous gains in the real estate market, I can't believe anyone would complain about flatness for a few years. The folks who couldn't afford their homes? I don't know what to think of that.

I should also say that I am one who stands to lose from all of this news if it comes to pass. I bought here in Knoxville while the housing market was still doing very well a little over a year ago. I didn't get a chance to enjoy the housing price increases, so I will only lose from this news. My house is pretty low end, so it can't easily fall as much as a $350,000 house.... but I *do* wish that I would have waited until this year or next to buy a house.

Frankly, 14 months ago... every house in the 120k price range that I looked at was bought before I could drive home and think about it!!! It was getting frustrating.

Maybe the cheaper homes will do ok....relatively speaking.
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