Don’t follow? Lol I follow religiously and know when to call bs on positive outlook. We’re heading towards a worsening depression, facing high inflation, high interest rates, and steep-yet slightly declining prices. Yet you gobble up the bs that all is well. All is not well.
I’m an idiot because I go beyond the headlines? Look at reality. You’re lost old man.
When did I ever say all is well? This whole thread is about should I buy or not. Your head is so deep in research that indicates we’re going through 2008 all over again. The question asked by OP is should my friend buy a house. Purchase market is still strong and people are still buying. Will we see a decline in prices? Yes, but not to the level seen in 2008-2012. Did I say everything was hunky dory? No, but buying a house for most ppl is a long term investment so you’re not going to see any repercussions of a short term decline in home prices. If you’re wanting to buy as a short term investment then don’t get into housing. You want to buy a home you can someday own? That’s a long term investment. They have to live somewhere so would you rather they pay astronomical rent prices and not own anything?
Should he buy a house? And that is not the crap you’ve been replying to. That question requires a hell of a lot more information. Should one specific individual buy a house vs. is the housing market headed towards collapse (which all signs point to that being a definite possibility). Those are two different questions.
Lol okay but I’d also maybe take a break from all the 2008 financial crisis documentaries you’ve been watching and maybe get out and enjoy the nice weather. You can even throw on your favorite tinfoil hat too!
I don’t watch documentaries on 2008. I look at reality. 2008 was a disaster guaranteed to repeat itself thanks to the government proving it will save you from poor choices. You’re a fool if you think real estate can’t decline substantially nationwide again, and all indicators point to that being a possibility.
Oh boy, this again. The ONLY realizable asset in the possession of most working age adults is their home. “Why care? I just lost net worth. Give me wealth equality!” Just can’t make this shit up.
How many of those people need to sell right now? Home values go up and down, always have.
How many will be screwed out of $100k plus when something tragic happens? How many will miss out on an opportunity to flip that equity into a desirable investment that lets them retire early, or go into working for themselves with something they actually enjoy? Life’s nothing more than a game- you passively accept deterioration of your wealth, and they’ll keep taking it.
No- I want to care when they go down and not shrug shoulders, praise politicians, and move on. I fight everything. Tax assessments, banks, vendors, customers. It all adds up. I do it fairly and within the law because it’s what is necessary. The vultures don’t stop.
No idea what you’re talking about.
I’m speaking in a personal/professional manner- but it carries into my personal life- the government, utility companies, and banks are consistently on a mission to f you over. Give it back. Fight them on everything, go extreme. Hell- I just saved like $100 last week arguing about fees. You know what made the difference? I said “ok, write me a check for my balance and I’ll do business elsewhere.” Boy did they cave- that much of an decrease in money they can lend out and screw others doesn’t play well.
Worrying about/counting on home equity is pointless.
And that’s different to you and also why I’ve always claimed you’re a solid guy. I’m just a businessman at the borderline of kids aren’t acceptable but still an option, but I do have nieces/nephews- don’t worry about them much, my siblings are very successful.
Your mortgage person probably makes more on a conventional fixed loan. I’d shop around.
You pay in the price or you pay in interest. Rarely do you time both. Either is preferable to renting.
If you’re renting a house- you’re building one and/or a degenerate piling in morons to each room.
Huh?
Dude- if it’s a 4 bedroom house, and you lack 3 bedrooms of income…. Of course you wouldn’t know because you’ve pissed away value your whole life.
I’ve tried to follow the last two pages and nothing he is saying makes any sense.
Reality for anyone investing in real estate. Again, what are YOU talking about? Some hyped up sense of home ownership? Loser who lacks basic understanding of real estate market recommends purchase of property because “I” will go down in the face of inflation and unemployment. Jackass, take a seat, please. Before anyone is dumb enough to agree.
Are you talking about investing in rental properties? Yea, no one else is talking about that. We're discussing buying/owning a single family home as opposed to renting. If you don't comprehend the discussion, don't interject.
Rentals are completely in the deal, as they have been for small-time investors that you’ve completely missed the mark on. They’re constantly ignorant of real situations. You talk of homes, as if they’re much different… lol no one gives a shut about multifam/ duplex because they’re overpriced. Have a point yet? In other words: yes, it’s all approaching shit, and there’s no answer
Might be good for them long term. If their credit is excellent they can buy a house on the cheap and refinance a few times as rates go back down.
We're you drinking last night? Care to take another stab at what you were attempting to say when this word vomit fell out now that you're sober?
You and everyone else....
I think this winter and into next spring, we will see it become more of a buyers market. Like you are already seeing, buyers can now offer below asking price and have some more power. There will be some good deals out there in the next 6 months or so.
Also, not completely sober yet. Two day hangover headed my way.
