Dear folks who wish you owned your own home

vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
Prices are low and you're STUPID if you don't buy now. Why the hell would you wait until the market picks up and homes cost more?

You wouldn't. Unless you're stupid.

There's a 5 BR, 3 BA right up the street from me that is a creampuff - great condition, hardwood floors, brick fireplace, family room, nice lot, fabulous neighborhood (if I do say so myself) for only $299,900. Mortgage payment of $1600 a month.

There's another one in Excuse the Eff Out of Me Society Hill in Ltown for $229,900, 3 BR, 2BA - $1200 a mo.

A big fat ol' house, 4 and 3, in Great Mills, for $1350 a mo.

And you'll OWN it!

You are TOTALLY not going to get that kind of deal a year from now.

Buy low. Sell high. Duh.

Prices are low so NOW is the time to buy.

If you have decent credit and can actually afford to buy a home, NOW IS THE TIME!

Don't be stupid and let this buyer's market opportunity pass you by.

So STOP that renting!!! Renting is for losers! The American dream is to OWN a home, not friggin rent one. :rolleyes:

And NOW is the time.
 
B

Booboo3604

Active Member
vraiblonde said:
Prices are low and you're STUPID if you don't buy now. Why the hell would you wait until the market picks up and homes cost more?

You wouldn't. Unless you're stupid.

There's a 5 BR, 3 BA right up the street from me that is a creampuff - great condition, hardwood floors, brick fireplace, family room, nice lot, fabulous neighborhood (if I do say so myself) for only $299,900. Mortgage payment of $1600 a month.

There's another one in Excuse the Eff Out of Me Society Hill in Ltown for $229,900, 3 BR, 2BA - $1200 a mo.

A big fat ol' house, 4 and 3, in Great Mills, for $1350 a mo.

And you'll OWN it!

You are TOTALLY not going to get that kind of deal a year from now.

Buy low. Sell high. Duh.

Prices are low so NOW is the time to buy.

If you have decent credit and can actually afford to buy a home, NOW IS THE TIME!

Don't be stupid and let this buyer's market opportunity pass you by.

So STOP that renting!!! Renting is for losers! The American dream is to OWN a home, not friggin rent one. :rolleyes:

And NOW is the time.
Click to expand...


Preach it Sistah! And it didn't take you 45 threads to make your point which one can always appreciate!
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
somdrenter said:
What market indicators do you follow that indicate that the market will pick up?
Click to expand...

Are you predicting that we will fall into a major depression and real estate will plunge to record lows and never recover? And then maybe we'll be taken over by the Taliban and live in caves for the rest of our lives?
 
somdrenter

somdrenter

Sorry, I'm not Patch...
vraiblonde said:
Prices are low and you're STUPID if you don't buy now. Why the hell would you wait until the market picks up and homes cost more?

You wouldn't. Unless you're stupid.

You are TOTALLY not going to get that kind of deal a year from now.

Prices are low so NOW is the time to buy.

If you have decent credit and can actually afford to buy a home, NOW IS THE TIME!

Don't be stupid and let this buyer's market opportunity pass you by.

So STOP that renting!!! Renting is for losers! The American dream is to OWN a home, not friggin rent one. :rolleyes:

And NOW is the time.
Click to expand...
No end in sight: Housing in freefall until credit loosens and supply recedes, experts say

NEW YORK: House prices may still have a long way to fall.

Across much of the nation, home values are dropping — even those backed by solid mortgages — and banks are repossessing more every day. Most experts say the dive won't hit bottom for another year and only after excess inventory is sharply reduced and credit markets improve.

More government intervention may be needed, too, if the free market system doesn't work quick enough.

"The housing value crisis is spreading and deepening," said David Abromowitz, a senior fellow at the Center for American Progress. "It has gone way beyond subprime borrowers stretched too far with bad loans and now has clearly extended into the housing markets more broadly."

U.S. home prices dropped 8.9 percent in the final quarter of 2007 compared with a year ago, according to the Standard & Poor's/Case-Shiller home price index released Tuesday. That marked the steepest decline in the index's 20-year history.


No end in sight: Housing in freefall until credit loosens and supply recedes, experts say - International Herald Tribune
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
somdrenter said:
No end in sight: Housing in freefall until credit loosens and supply recedes, experts say
Click to expand...

Most experts say the dive won't hit bottom for another year and only after excess inventory is sharply reduced and credit markets improve.
Click to expand...
How is supply supposed to receded and excess inventory be reduced if the media keeps warning people not to buy houses? Are these houses just going to magically vanish into thin air?

Across much of the nation, home values are dropping — even those backed by solid mortgages — and banks are repossessing more every day
Click to expand...
But banks are not repossessing homes with solid mortgages that are being paid in a timely fashion. Banks only repossess if you default on your loan, not just because your home's value drops. Home value only affects you if you're selling or refinancing. And if people would have done their homework and been at least slightly knowledgeable when they got their loan and purchased the home in the first place, they wouldn't have these problems.

More government intervention may be needed, too, if the free market system doesn't work quick enough.
Click to expand...
That's pretty scary, when you think about it. Irresponsible home buyers got in over their heads and now the government is supposed to bail them out? How about if you rack up too much credit card debt with high interest? Should the taxpayers have to bail you out of that, too?
 
BuddyLee

BuddyLee

Football addict
vraiblonde said:
Prices are low and you're STUPID if you don't buy now. Why the hell would you wait until the market picks up and homes cost more?

You wouldn't. Unless you're stupid.

There's a 5 BR, 3 BA right up the street from me that is a creampuff - great condition, hardwood floors, brick fireplace, family room, nice lot, fabulous neighborhood (if I do say so myself) for only $299,900. Mortgage payment of $1600 a month.

There's another one in Excuse the Eff Out of Me Society Hill in Ltown for $229,900, 3 BR, 2BA - $1200 a mo.

A big fat ol' house, 4 and 3, in Great Mills, for $1350 a mo.

And you'll OWN it!

You are TOTALLY not going to get that kind of deal a year from now.

Buy low. Sell high. Duh.

Prices are low so NOW is the time to buy.

If you have decent credit and can actually afford to buy a home, NOW IS THE TIME!

Don't be stupid and let this buyer's market opportunity pass you by.

So STOP that renting!!! Renting is for losers! The American dream is to OWN a home, not friggin rent one. :rolleyes:

And NOW is the time.
Click to expand...
If only I had the money.:doh:
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
BuddyLee said:
If only I had the money.:doh:
Click to expand...

Well, here's your tip: don't get an adjustable-rate or interest-only mortgage. I thought everyone knew that, but apparently not. In some cases they make sense, but not on a regular house that you plan on living in for any length of time.
 
Larry Gude

Larry Gude

Strung Out
The people...

vraiblonde said:
Well, here's your tip: don't get an adjustable-rate or interest-only mortgage. I thought everyone knew that, but apparently not. In some cases they make sense, but not on a regular house that you plan on living in for any length of time.
Click to expand...

...that did that, by and large, are folks who planned on flipping the house, investing, which is also another name for gambling. Adjustables offered the lowest possible monthly cash outlay until it came time to hit it big.

Oops.
 
BuddyLee

BuddyLee

Football addict
vraiblonde said:
Well, here's your tip: don't get an adjustable-rate or interest-only mortgage. I thought everyone knew that, but apparently not. In some cases they make sense, but not on a regular house that you plan on living in for any length of time.
Click to expand...
I'll keep that in mind.

I have to ensure I have plan A (new job) complete before I move onto plan B (home). As for now, I'm saving everything I can and am thinking about throwing a bulk of it into a CD.

I'd like to get into investing into the stock market one day but I have not a clue where to start.
 
vraiblonde

vraiblonde

Board Mommy
PREMO Member
Patron
Larry Gude said:
...that did that, by and large, are folks who planned on flipping the house, investing, which is also another name for gambling.
Click to expand...

By and large, and that's what those types of loans are for. But there are a handful of dorksteins who got an ARM or interest-only because they wanted more house than they could afford, and this would give them a lower payment. They didn't think about the future, just wanted what they wanted NOW whether they could pay for it or not. These are the dummies that Patch and Renter keep finding stories about.

I fear for this country when someone's personal financial irresponsibility turns into a need for government intervention.
 
Larry Gude

Larry Gude

Strung Out
It's here...

vraiblonde said:
By and large, and that's what those types of loans are for. But there are a handful of dorksteins who got an ARM or interest-only because they wanted more house than they could afford, and this would give them a lower payment. They didn't think about the future, just wanted what they wanted NOW whether they could pay for it or not. These are the dummies that Patch and Renter keep finding stories about.

I fear for this country when someone's personal financial irresponsibility turns into a need for government intervention.
Click to expand...

...right now.

Socialized medicine used to be a dirty word 15 years ago and every step towards it was hidden in language and arguments that said it was not socialized medicine. Now, two leading candidates are actively fighting over whose plan is the better, MORE socialized than the other and the other party basically accepts it as a fate accomplis.

It's really nothing new and is, in many ways, far less 'socialized' than what FDR did in the 1930's. We have federally guaranteed bank accounts and our base retirement plan has become a right. Obama said the other night that he wants to help people and he'd just met someone who's mortgage just doubled. No one batted an eye. No one said "BS! How can that be? Why should we help someone that crazy? Doubled!?"
 
Lilypad

Lilypad

Well-Known Member
vraiblonde said:
Prices are low and you're STUPID if you don't buy now. Why the hell would you wait until the market picks up and homes cost more?

You wouldn't. Unless you're stupid.

There's a 5 BR, 3 BA right up the street from me that is a creampuff - great condition, hardwood floors, brick fireplace, family room, nice lot, fabulous neighborhood (if I do say so myself) for only $299,900. Mortgage payment of $1600 a month.

There's another one in Excuse the Eff Out of Me Society Hill in Ltown for $229,900, 3 BR, 2BA - $1200 a mo.

A big fat ol' house, 4 and 3, in Great Mills, for $1350 a mo.

And you'll OWN it!

You are TOTALLY not going to get that kind of deal a year from now.

Buy low. Sell high. Duh.

Prices are low so NOW is the time to buy.

If you have decent credit and can actually afford to buy a home, NOW IS THE TIME!

Don't be stupid and let this buyer's market opportunity pass you by.

So STOP that renting!!! Renting is for losers! The American dream is to OWN a home, not friggin rent one. :rolleyes:

And NOW is the time.
Click to expand...

Can you loan me the 20% cash down payment?:blushing: TIA :huggy:
 
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