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I think it is. None of them are going to truly believe in it after what has happened in recent years.
What kind of effects do you think this is going to have on house values over the next 20 years or so? Do you think more people will be long term renters, perhaps never buying a house?
Last edited by GiantRutgersfan; 10-08-2011 at 10:22 AM..
I think it is. None of them are going to truly believe in it after what has happened in recent years
There should have never been an artificial real estate boom like we recently had. Buying a house now to live in that you can eventually pay off still makes sense. The days of trying to make money off it are now long gone.
I'm in that 30 range. Bought my first house with cash. I'm in my second home. I did get a mortgage but put 50% down. Never looked to make money on my house, just wanted a nice place to live that fit me and my family. Next house will be in a couple years and it'll be another cash buy.
I've always been a risk adverse person and always wondered "what if". I know several of my peers that bought houses with 100% financing or 5% down. Now they're stuck. If anything, I think this will teach them to be more risk adverse - silver lining, I guess.
I think it is. None of them are going to truly believe in it after what has happened in recent years
I believe it's definitely tainted for those that had friends and family that have lost jobs and suffered foreclosure, bankruptcy, loss of equity and struggled in this economy.
They will be disillusioned and wary of falling into the same trap. Also job loss and/or difficulties in the employment market will surely impact them.
I am 23 and am doubtful about my financial future. I do not know if I will ever feel comfortable buying a home, starting a business, or even leaving my current workplace because of what I have seen happen to every person around me.
I'm in that 30 range. Bought my first house with cash. I'm in my second home. I did get a mortgage but put 50% down. Never looked to make money on my house, just wanted a nice place to live that fit me and my family. Next house will be in a couple years and it'll be another cash buy.
I've always been a risk adverse person and always wondered "what if". I know several of my peers that bought houses with 100% financing or 5% down. Now they're stuck. If anything, I think this will teach them to be more risk adverse - silver lining, I guess.
Yours is the experience I am seeing. I have so many investors in this range. People will see opportunity and not hesitate... those who take advantage will be tomorrows big winners. Those that hesitate will be tomorrows big whiners.
Forever. God knows things didn't change since October 29, 1929.
Yeah, it was the balloon mortgage that did in the real estate market in '29. ARMs for this one. I tell you what, never been more glad about being risk adverse and to think, people were making fun of me back during the height of the bubble because I didn't have the McMansion they did; with 100% financing of course.
Yeah, it was the balloon mortgage that did in the real estate market in '29. ARMs for this one. I tell you what, never been more glad about being risk adverse and to think, people were making fun of me back during the height of the bubble because I didn't have the McMansion they did; with 100% financing of course.
My plan has me two years from buying. I'm a planner too, on top of being risk adverse. Yeah, Type A all the way. I think it'll still be a pretty good market by that time, especially since my next house will be a rural one.
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