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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: paulmcg0 who wrote (17332)	4/26/1998 10:29:00 AM
From: ratan lal	Respond to of 94695

(2) I figure that after the market crash occurs and unemployment soars, I will be able to buy a place at a much lower price from someone who is desperate to sell. You missed the bottom. Its now on its way up. If you dont get in now, you will have to wait another 18 2/3 years according to the cycle theory posted here today.

To: paulmcg0 who wrote (17332)	4/26/1998 9:22:00 PM
From: edward miller	Read Replies (1) \| Respond to 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.)