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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tradelite who wrote (145292)1/22/2002 10:54:15 PM
From: reaper  Read Replies (1) of 436258
 
<<The *when* ALWAYS depends on one's financial situation and how best to maximize one's assets, not to mention where one lives and what the real estate market is like in that particular area>>

Tradelite, you are going to have to excuse me as I have tried to be civil, but you are NUTS!!! When depends on PRICE, period. If my house was appraised at $1 bazillion dollars (bazillion is a number that approximates the number of times a "b"ottom has been called in the Nasdaq since March 2000) would you suggest that someone buy it?

<<And it is a bit strange that now the conversation on this thread has shifted from *real estate generally as an investment* to making a rational decision about *when* to buy real estate>>

The conversation STARTED as an assertion that banks, the GSEs, and in fact much of the US financial system could be in dire straits as there are countless $trillions of loans out there backed by real estate that I and some of my compatriots on this thread think is of dubious value. At some point we de-volved into talking about when the optimum time to buy a house is.

Look, we're just going to have to agree to disagree on this one. Check back with me in 5 years when I will be landlord to most of the South End, financed by my Fannie & Freddie short profits <g>

Cheers
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