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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (536)	8/29/2001 5:02:34 PM
From: stomper	Read Replies (1) \| Respond to of 306849

Of course, housing is a regional industry and market, and your results may vary WTF!!!!!!????? I just sold my house and am renting a dump with my wife and two children based OFF OF THIS THREAD...and now you tell me my results might vary? You've got to be farking kidding me! Tomorrow, real estate MELTS!! -vbg- -dave

To: patron_anejo_por_favor who wrote (536)	8/29/2001 5:36:27 PM
From: Joan Osland Graffius	Read Replies (2) \| Respond to of 306849

patron, Anyone who thinks buying a house to live in is an investment has not passed 4th grade mathematics. Buying a house to live in is an ego trip. If you do the math buying the building with a 30 year loan ends up paying around 2x'a for the house. A little bit of help from the government helps. But, if one looks at the cost of maintenance over this 30 year period you are lucky if you spend less that the purchase price. Now some folks could get smart and sell during the 30 years for a profit and move into a rental unit until prices go down dramatically, but I don't think very many folks to this. We have lived in our house for over 30 years and we have spent over the purchase price for normal maintenance. Joan

To: patron_anejo_por_favor who wrote (536)	8/29/2001 5:46:44 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

I would think a mission of this thread might be to warn people about over-extending themselves in the debt area. I personally take a dim view of mortgaging one's future with debt. The only loan my spouse and I have ever taken out is the one on the house....borrowing to buy anything else is dumb, ever since the feds removed tax deductibility of credit card debt....and that was years ago. Yet people still keep leveraging themselves. As a parent of two young people....one already trying to make ends meet in his first job since graduating from college and the other still in college.....my message is: no matter what--stay out of debt. Real estate is excluded from this caveat, however, because if it's any good to begin with, it's real. A credit card balance isn't very real.

To: patron_anejo_por_favor who wrote (536)	8/29/2001 8:53:05 PM
From: Juster	Respond to of 306849

Patron, I agree that a lot of people have played the refinancing game the past few years only to pull out money and subsidize a higher standard of living. Renting is better in small towns where real estate is hard to get rid of and doesn't even keep up with inflation unless you never move. But buying a home is a forced savings for most and they end up much better off in the long run, especially when they retire and move to a cheaper area and get to have a few CD's with the price difference. Arizona and Florida are full of retirees that did just that. Justerx