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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:54 AM Original message |
Why buy a house in the next 5 years? |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:56 AM Response to Original message |
1. You almost bought when the price bubble was peaking? |
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GodlessBiker (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:56 AM Response to Original message |
2. Well, your house might now be worth less than the mortgage you would have had ... |
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Dappleganger (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 09:57 AM Response to Original message |
3. There are plenty of people being punished now |
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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:00 AM Response to Reply #3 |
4. well, I was making decent money, but didn't have money down... |
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WorseBeforeBetter (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:12 AM Response to Reply #4 |
10. Do you have money now for a down payment? |
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Amaril (447 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:35 AM Response to Reply #4 |
23. I was right there with you 4 years ago |
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Zenlitened (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:00 AM Response to Original message |
5. What mortgage bailouts? |
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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:03 AM Response to Reply #5 |
7. I should rephrase... |
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Greybnk48 (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:01 AM Response to Original message |
6. I think it's a good investment if you're careful. |
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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:04 AM Response to Reply #6 |
8. But why buy a $250k place if it will be worth $200k in 3 years? |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:13 AM Response to Reply #8 |
12. Are you looking for a good place to live, or are you looking for a financial investment? |
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uncommon (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:21 AM Response to Reply #12 |
18. Ding ding ding - you win! |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:27 AM Response to Reply #18 |
21. and a hedge against inflation. |
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enlightenment (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:37 AM Response to Reply #18 |
26. Exactly. |
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frazzled (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:20 AM Response to Reply #8 |
17. Who says it will be worth less in 3 years, and who buys a house ... |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:22 AM Response to Reply #8 |
19. who cares if it ends up being worth $300K in 30 years. |
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dixiegrrrrl (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:20 AM Response to Reply #6 |
16. uhh....not even buying in an "established neighborhood" works anymore. |
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pipi_k (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:12 AM Response to Original message |
9. OK, here's what we did... |
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hedgehog (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:13 AM Response to Original message |
11. I think the best advice is that the only reason to buy a house is |
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pipi_k (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:19 AM Response to Reply #11 |
14. Exactly! |
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leveymg (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:16 AM Response to Original message |
13. There are no "mortgage bailouts." Go ahead, buy your foreclosure - 1000 yrs bad karma |
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Statistical (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:19 AM Response to Original message |
15. Trying to time the bottom (or top) is a suckers game. Better metric is own vs. rent |
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pipi_k (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:34 AM Response to Reply #15 |
22. That's what happened... |
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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:24 AM Response to Original message |
20. Thanks everyone, I agree, I feel better about renting, less of a victim |
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HughMoran (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:46 AM Response to Reply #20 |
31. I read different replies |
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tilsammans (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:37 AM Response to Original message |
24. I don't know enough about your situation . . . |
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Uncle Joe (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:37 AM Response to Original message |
25. I believe buying your own home to be a good idea, but one key point is to buy well under your means. |
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pipi_k (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:55 AM Response to Reply #25 |
33. I think that's an excellent suggestion, even for things other than a home |
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elehhhhna (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:57 AM Response to Reply #25 |
34. Amen to that advice. |
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Barack_America (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 11:12 AM Response to Reply #25 |
35. Exactly. It's like any business decision. |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:38 AM Response to Original message |
27. Because you want a place to live? |
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Soral (344 posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:40 AM Response to Reply #27 |
29. See.. I can't even find a 2BR 'house' for less than $1500/month here |
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lumberjack_jeff (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:47 AM Response to Reply #29 |
32. At current interest rates that will buy a $280,000 house. |
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TwilightGardener (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:40 AM Response to Original message |
28. Depends on what the value is of the house to you and your family. |
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Vinca (1000+ posts) Send PM | Profile | Ignore | Mon Oct-18-10 10:44 AM Response to Original message |
30. If you think prices are bottoming out in your area and you plan to stay |
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