Comments on: Don’t Buy Real Estate in April 2010, buy 2012 and after

By: mirsaes

mirsaes — Sat, 24 Apr 2010 21:38:13 +0000

@LetItFloat,
What …
@LetItFloat,
What economic recovery are you talking about? Do you mean the temporary jobs created, like census jobs that will soon disappear? There is no recovery, people will continue to lose their jobs because there is currently no incentive to employ people. Due to this people will not spend money and what makes an economy work? Money!

By: moniequa

moniequa — Sat, 24 Apr 2010 21:38:13 +0000

@LetItFloat, oh yes …
@LetItFloat, oh yes we in recovery, our economy is booming beyond recognition. I didn’t realize that high unemployment was equal to high economic growth. I think we laid the entire nation off so we can grow our economy even more. I guess the less you produce the more you have, what a concept.

By: jeremyraybrown

jeremyraybrown — Sat, 24 Apr 2010 21:38:13 +0000

Interest rates will …
Interest rates will rise and inflation will shot way up. Fine times await. I just hope interest rates rise soon enough. The f*cking government and wall street and really put this country in a terrible bind. I’m so happy I’ve done the right things so I can suffer! This sucks a**

By: jeremyraybrown

jeremyraybrown — Sat, 24 Apr 2010 21:38:13 +0000

@mongobobo The …
@mongobobo The dollar strengthening was irrational and because other countries needed some place to try and story wealth. The dollar is in decline, make no mistake about it. If you think the dollar is so great, then store all your wealth in dollars under your mattress. Then in 5-10 years see how much it buys.

By: jeremyraybrown

jeremyraybrown — Sat, 24 Apr 2010 21:38:13 +0000

@SIGN666 The scary …
@SIGN666 The scary thing about this comment is that is could be completely correct.

By: jeremyraybrown

jeremyraybrown — Sat, 24 Apr 2010 21:38:13 +0000

@LetItFloat What …
@LetItFloat What economic recovery? You mean the bogus jobless bull sh*t recovery the government is claiming. Please, we need to produce something as country, not borrow money to buy stuff from China. We need to reduce the size of the government and reduce taxes. The country is completely on the wrong track!!!! If you see some recovery then you need your vision checked. The only recovery has been for the rich and well connected on wall street.

By: jobedied

jobedied — Sat, 24 Apr 2010 21:38:13 +0000

Open the boarders …
Open the boarders and allow unrestricted immigration illegal and legal the glut of overstocked houses will be used up. The banks must continue to make loans to undocumented
aliens and anyone breathing. This will stimulate the economy until the next bubble then we print another trillion. The circle of economic prosperity has been set print money unrestricted immigration. Oh forgot the huge # unemployed folks go some where else American banks and corporations do not want you makes them look bad.

By: moniequa

moniequa — Sat, 24 Apr 2010 21:38:13 +0000

Yep me too, I’m not …
Yep me too, I’m not going to buy anything until 1012. I’ll wait until the dumb cash buyers run out of money then the real bargain will begin. In CA homes are still way too high.

By: secretbonus

secretbonus — Sat, 24 Apr 2010 21:38:13 +0000

It’s actually …
It’s actually become more profitable to be a landlord than it was.

Rental rates are still only about 10% lower than 06. But housing prices are lower, and interest rates are lower.
So consider buying a duplex if you can afford it and rent out the other unit. That way you won’t need to rely on the price of your home and your renter will pay for your mortgage.
I think astute sophisticated investors in rental properties will probably start having huge success if they buy right now.

By: secretbonus

secretbonus — Sat, 24 Apr 2010 21:38:13 +0000

@LetItFloat 70% of …
@LetItFloat 70% of mortgage resets result in people upsidedown on their houses meaning they will owe more than their house is worth and 90% of those upside down end up in foreclosure. People may buy them back but they won’t overpay for them. Unemployment has actually risen since 2008, despite the “job creation” that cost 300,000 per low end job.

I agree there are good bargains, if you look at foreclosures, but why not wait?
And although rates have lowered, loan standards have tightened.