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you buy a car, and it depreciates the instant you sit in it.
some will depreciate fast, others slower.
does that mean you'll never buy a car ? or a refrigerator ? or a pair of jeans ? or a...........
Going in one expects a car to depreciate.
Normally (under historic norms over time) a house if maintained well will actually appreciate. UNLESS you buy during a post bubble scenario which one can argue and point to statistics this is CLEARLY such a scenario.
So buying today you will lose value in the short term. What you define as short term is clearly up to debate.
All the naysayers are saying is IF YOU BUY be aware of the short term loss which is prudent. And from a $ to $ aspect waiting to buy in NJ seems to be a smart bet. Now when that waiting/bottom occurs and when it offers one the best TIME/VALUE is surely open to debate.
But everything seems to point to short term house prices to drop and after that there are many predictions but very few suggest a V type rebound or 2006 prices in the next few years. Thats all. I don't think ANYTHING I said is considered negative for the record. Just the way I see things panning out.
Yes it does. The self-admitted and frequently displayed negative emotional reaction you have to the housing "crisis" leads you to select "facts" that predetermine your "analysis".
Right -- because I'm supposed to have a positive reaction to the Second Great Depression brought about by the housing market ponzi scheme, like yourself and so many other real estate cheerleaders.
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Your consistent and violently reflexive negative reaction to any hint of positive news is empirical proof that you are not an objective observer of current housing trends.
Putting aside your tendency toward malapropism (empircal proof?), your financial incentive to have everyone believe "Now is a great time to buy!" is proof enough that you of all people are not an objective observer of the current housing trends.
You line your pockets when people buy houses, plain and simple.
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Armageddonism is very prevalent in Internet forums. It's even fun, as long as it is properly identified. Which it now is.
Pollyannaism is very prevalent among used house salesmen like yourself. It's even funny, so long as there are people out there to refute every nonsensical utterance published in your NAR talking points. Which there are, much to your chagrin.
Besides, counseling people about the dangers of buying more overpriced real estate than they can afford, apprising them of the reasons why it would be wise to wait until the doomed-to-fail government price manipulation is exhausted, and encouraging them to save up a rainy day fund and follow the traditional financial guidelines that served our country well until they were ignored in this massive housing bubble is hardly "armageddonism". It may be Armageddon for your own wallet, my friend, but that's your problem. I'll offer you my same "Armageddon" advice that I offer everyone else: don't buy stuff you can't afford, don't stretch yourself to buy more house than you can afford under the traditional guidelines of 3x household income, and save up an emergency fund of 6 to 12 months of living expenses. (Hopefully, you saved up your emergency fund while the housing market ponzi scheme was in full effect and you were lining your pockets ... if not, perhaps you should consider a career change; used house salesmen probably won't have much of a future.)
Going in one expects a car to depreciate.
Normally (under historic norms over time) a house if maintained well will actually appreciate.
in
New
Jersey
that is the expectation, yes.
in other states, NO
that is not a given
we've been spoiled, but even with that said, I tell you honestly that I don't care anymore whether or not my home appreciates. I love being a home owner, and I understand those who don't want to be one. I'm simply here to offer a counter-point to those who discount home-ownership, I don't expect anyone to take my postings to heart.
after all, it's been said that any info found on the Internet is bullsh1t !!
Right -- because I'm supposed to have a positive reaction to the Second Great Depression brought about by the housing market ponzi scheme, like yourself and so many other real estate cheerleaders
Cool, we're good, you have an axe to grind. I get that.
"Second Great Depression"; "housing market ponzi scheme"; "lining your pockets".
Histrionics are not necessary to expose your bias since you already admitted it tacitly, however they do serve as amplification.
Not to critique, but a good Armageddonist combines invective hyperbole with some sweet conspiracy theories. I think your presentation shows room for improvement in that respect.
One more clarification. You keep referring to me as a "used house salesman". However I do sell new homes also.
Marc "The Commishioner" Paolella
"Parting good people from their hard-earned money through fraud and malfeasance since 1986. Refer a future ex-friend!"
Last edited by Marc Paolella; 03-28-2009 at 08:28 PM..
I can't wait for 10% interest rates. Of course houses won't come down then. People will just pull money out of their ass to pay for the loans.
On another note funny that its always a great time to buy a house when you talk with a realtor. 2006 great year, 2007 great year, 2008 great year, its always great. Its very easy to con people into buying homes when you have nothing lose.
I can't wait for 10% interest rates. Of course houses won't come down then. People will just pull money out of their ass to pay for the loans.
On another note funny that its always a great time to buy a house when you talk with a realtor. 2006 great year, 2007 great year, 2008 great year, its always great. Its very easy to con people into buying homes when you have nothing lose.
It is NOT EASY to con people into buying a home. It takes skill and patience.
I have the skill, but lack the patience. So to compensate, I only work with people who actually want to buy.
we've been spoiled, but even with that said, I tell you honestly that I don't care anymore whether or not my home appreciates. I love being a home owner, and I understand those who don't want to be one. I'm simply here to offer a counter-point to those who discount home-ownership, I don't expect anyone to take my postings to heart.
after all, it's been said that any info found on the Internet is bullsh1t !!
This is the exact type of post that makes me scratch my head.
So in NJ it is one expectation to buy a house and have it appreciate.
But in other states it is not a given?
That makes no sense.
So are you suggesting it is a given in NJ?
Are you suggesting buying a house outside of NJ one does not expect appreciation?
And where are you getting the impression people are discounting homeownership? People are discounting current home prices, not homeownership. People are suggesting and promoting historical affordable homeownership and not ones based on funny money loans or manipulated practices like today.
Sometimes I question if people even can read and comprehend english.
And you are not here offering counter-points to homeownership. You are here suggesting that NJ is immune to nationwide real estate trends, that NJ was never a bubble state, that home prices aren't decling, that every stat is wrong, etc... At least that is my impression of MOST of your posts.
It is NOT EASY to con people into buying a home. It takes skill and patience.
I have the skill, but lack the patience. So to compensate, I only work with people who actually want to buy.
No you are very wrong. Most people in this country are apathetic and very very uninformed. Get a realtor to feed them a few lines and they are sold. Again you are dealing with people that are just too lazy to research themselves. This leads to exactly what happened in the real estate market. The proof is in the pudding I dont care how many house you sell Mr. Big Time.
Home sellers believe that the market decreased in value yet their home increased No wonder there are no sales.
Someone need to give them a reality check and it is not the agents. Time will.
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