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

To: Tradelite who wrote (11820)	7/28/2003 3:46:37 PM
From: Micawber	Read Replies (4) \| Respond to of 306849

my advice to my 24-year-old son has been and remains to buy a house (not a condo ever and a townhouse only if that's all he could get) WHENEVER AND AS SOON AS POSSIBLE...It isn't always what you pay for a property that counts. It's what you do with it after you own it. People who delay or neglect to build up significant equity in real estate are most likely the ones who might have some regrets in the foreseeable future Wow. That's some strong language. I judge by the age of your son that you were around during the commercial RE crash in the 80's when "significant equity in real estate" simply vaporized. The ones who had "some regrets in the foreseeable future" were the ones handing over the keys to lenders at the time. Overpaying for an asset is overpaying for an asset, despite the interest rate environment. I'm hearing a lot of "It can't happen here" in your advice. Wow.