Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: paulmcg0 who wrote (17332)	4/26/1998 9:22:00 PM
From: edward miller	Read Replies (1) of 94695

If you're young and single with a good job you need a tax break. Think about this: I once worked with another engineer in LA County. I no longer live in California, but the important point is that when prices doubled in a year he decided to wait for exactly the same reasons you give. That was in 1978 when the cost of houses like mine went from the $50s to over $100(K). He finally realized his mistake, but he bought at the top - and he paid $600K, essentially for that $50K house. Think what that would do to your finances. OK - I know that isn't likely to happen again soon, but if inflation kicks in you will be very depressed to see what happens to housing costs. If you own, at least you can deal with it. Look at the tax benefits and don't buy too big a house. Many have been successful renting rooms to friends. Yeah, I know it can be a hastle, but set a goal and find a way to accomplish it. Maybe there are other options. (I wouldn't buy a condo.)

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