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

To: bozwood who wrote (4684)8/26/2002 3:45:16 PM
From: TradeliteRead Replies (1) | Respond to of 306849
 
You're right, Boz, we're not talking about my business. But the business of buying and owning a home SHOULD be about (1) having a place to live and (2) building equity with whatever leverage the mortgage market currently provides. It's not about "how much the house can sell for later" and it never has been. This thinking works for stocks...not for homes.

I and every other homeowner out there in the world would have gone crazy for the past couple decades, if we concentrated on what we could eventually get for a house. I still don't know how much I will ever get from my house. It doesn't matter. It's now a piggy bank that I can draw from if I never get desperate enough to do so, and that has nothing to do with what I paid for it or when I bought it. Equity counts....LOL, even if the *serial refinancers* haven't found that out yet. <<gg>>



To: bozwood who wrote (4684)8/26/2002 11:35:04 PM
From: fattyRead Replies (1) | Respond to of 306849
 
of course the guy who buy at 375k at 9% is better off than the guy buy at 500k at 6%. with a higher interest rate, you can always expect to refinance in the future. you can't ask the seller to refund the money when the price goes down. also, with a lower price, property tax is lower. the downpayment is lower. should there be any future gain, the profit is higher.


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