I give up

Many people way smarter than us try to predict these markets. And guess what, they have abysmal records. A NYC cabbie could do as well as a pro market watcher. (see "The Black Swan" for reference)

So don't try to outgame the game. Get what makes sense now.

Cheers,
Anders

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Grassroots rally. It's what I think about.

>
> Speaking of silly - rally rules are too silly
> right now so me no play at this time.
>
> Derek
>
Would you mind elucidating Derek? Good feedback is always needed.

Regards,
Mark B.

Owning your home and paying monthly towards a mortgage is almost always going to be a better deal than paying rent. I am sure there are exceptions. Use a realtor that you trust, do your homework, and shop around and you should be able to buy a home in the current market without taking a bath. Remember that realestate is a long term investment.

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Matt Smith

Racing in glorious black and red

My daily life is a Saab story (sold!)

bah, you guys are just spouting cliches, a realtor would say the same thing. And realtors suck... There's a difference between trying to time the market and preventing an instant loss of equity that will happen when you buy today. In most areas of the country its a fact as much as it is that the sun will come up tomorrow.

The rant...

Now, in the long term, yes, you will recuperate the loss, but in the short term you are in a hole. If you prices further decline, below the margin provided by your downpayment you approach negative equity land. Should something happen to your financial situation it puts you in a dangerous place to be. Rising inflation due to the Fed's need to appease its Wall Steet masters and real recession conscerns are not good signs!

I live in Los Angeles so the RE market is f'd up. Its definitely a smarter move to rent than buy at the moment. So, there's the exception.

Now for the 180....

But....should a house go up for sale in a particular area of Long Beach I would probably buy it today.... so I didn't say I was rational either.

So I agree, if you find your house, don't plan on leaving anytime soon, and are financially secure enough to deal with the much needed occuring price deflation (or live in one of the magical markets that didn't get priced out of the wazoo), then go for it!!!!





Edited 1 time(s). Last edit at 01/03/2008 02:38PM by Eddie Fiorelli.

It depends alot on where you live...

The Vancouver, BC market is crazy ! Entry level post war bungalow (2 br up low ceiling basement, 2 bathroom 33' X 128' lot seel for $850,000+ on the West side of Vancouver). The rental market is not even close to the mortgage value, actually only 30 - 35%).

I lease a house for $2500 per month that is 3400 SF, has a triple garage, and attached shop on 1 acre. Market value is $ 1.3Mil. Although not in Vancouver, but still within 20 minutes of downtown. The mortgage value based on zero down is approximately $7800 per month. Doing the math, and having a home based business with renting definately makes alot more sense for me anyways.

My brother bought in San Francisco when the market was at it's peak, just before the first corporate America scandel... Enron. The SF market took a huge dip and he was in negative equity pretty quickly. The market has climbed back for him.

I think it's important to remember that regional markets vary and no one formula / speculation works for all markets.

Dave, of course there'll be another car. We all think that perhaps we'll be forced, or find a way to be cured of our illness, but it's not going to happen! At least I hope not! ;-)

Cheers! John

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http://www.lastditchracing.com
http://www.triplecaution.us

Dave you and I talked that this might be a sad but needed step.
Concentrate on family now, get a house, don't go too crazy on size.
I just read that the average house size in the Unexplored Southern Area has goon up like 50% since like 1990 and with that the prices have pushed ever upward.

Think back to what you grew up in and maybe somehow something modest will do.

And then do like so many once we go crazy the first time, and plan a more mnodest attack. I mean even John C here is building a nice easy simple 2wd rwd car, and it'll be just as much fun as his cureent thing when its done and cost a fraction.

Maybe I can hold off on the final billing for your suspenders till you sell the car if it'll help (and if it ain't too long!!)

---

John Vanlandingham
Sleezattle, WA, USA

Vive le Prole-le-ralliat

www.rallyrace.net/jvab
CALL +1 206 431-9696
Remember! Pacific Standard Time
is 3 hours behind Eastern Standard Time.

john vanlandingham Wrote:
-------------------------------------------------------
> Dave you and I talked that this might be a sad but
> needed step.
> Concentrate on family now, get a house, don't go
> too crazy on size.
> I just read that the average house size in the
> Unexplored Southern Area has goon up like 50%
> since like 1990 and with that the prices have
> pushed ever upward.
>
> Think back to what you grew up in and maybe
> somehow something modest will do.
>
> And then do like so many once we go crazy the
> first time, and plan a more mnodest attack. I mean
> even John C here is building a nice easy simple
> 2wd rwd car, and it'll be just as much fun as his
> cureent thing when its done and cost a fraction.
>
> Maybe I can hold off on the final billing for your
> suspenders till you sell the car if it'll help
> (and if it ain't too long!!)
>
> John Vanlandingham
> Sleezattle, WA, USA
>
> Vive le Prole-le-ralliat
>
> www.jvab.f4.ca


We're looking at houses, something reasonable that has a 2 car shop out back
Things are not as bad as they seem (nothing is though really) We sold our last house in a crazy good market and are living rent/bill free at the in-laws (Crazy Sicilians) So a new car is in the works/plans and I have the money set aside for you for suspension stuff since we first made a deal for that. So no need to hold off on payments; tell me what I owe and I'll send you a money order. I gotta get a chance to call you soon and talk about what car I'll be driving next!!!!

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Gone fishing

I am sure that I do a lot better job of picking real estate trends then a cabbie, sure they may get one event more right them me they would not get lots of them right.

One thing to remember, everyone talks about real estate in national trend terms but real estate is a very local business, there are no global truths that apply to each deal. Every deal needs to be looked at on its own, in detail.

Derek

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In the long run reality always wins.

Don't fell too bad Morten, I have had my 79 rally Colt for almost 3 yrs, has only seen one rally. And the fuel tank took a dumb on me 6 stages in. Every time I think it is fixed and take it to a rally-x, it dies mid-run
Guess it's time for a fuel cell this tax time


Brent Dacres

79 rally Colt
Ohio, Usa

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Brent Dacres
Cincinnati,Oh