Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: TheStockFairy who wrote (112864)	7/16/2001 2:43:23 PM
From: SpongeBrain	Read Replies (1) of 436258

You can't just daytrade your house.... > When the housing market gets to the point where I can spend 3 hrs talking to two guys about how housing prices are going to keep skyrocketing, that is the time where you sell your house and move into an apartment for a few years I do understand where youre coming from, but I disagree. You need to calculate the cost of realtor fees and the cost of renting for a "few years"...On a 300k house, $18k goes to a realtor. Let's say you try to "go on hte sidelines" for 3 years. In my area, a 2 BR apt will run you $2k/mo. So that's $25k/year. You will spend almost $100,000 to sit on the sidelines for 3 years, hoping for a possible crash. Meanwhile, even a worst case scenario may not bring a $300k house down to $200k. People simply CANT sell at a loss, the dont have the money to cover the difference. The best advice would be buy a cheaper home, or buy an apartment, or move in with your parents to wait out the storm....Not buying may be prudent (but renting is still GURAANTTEED losses), but selling is not. Unless you plan to do so anyways. ie: moving out of a bubble like SanFran, and moving to Ohio. PS: Check out Subject 51183

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