|
Buying property
|
View this Thread in Original format
| HardTranceProd |
I got a simple question for y'all
Is now a good time to buy property, like a condo? |
|
|
| stan229 |
| according to donald trump its always a good time to buy |
|
|
| ReenTeenTeen |
| quote: | Originally posted by HardTranceProd
I got a simple question for y'all
Is now a good time to buy property, like a condo? |
a simple answer: yes, if you getting a mortgage. (US lowered $20 per every $50K of mortgage rates so far to even out the dollar value dropping)
PS. Check for yourself of course though |
|
|
| stan229 |
| Interest rates are down by like .5% |
|
|
| HardTranceProd |
| I'm asking cos my friend said that prices are still going down and will be for the next year, due to the current crisis, so I should wait another year |
|
|
| ReenTeenTeen |
| quote: | Originally posted by HardTranceProd
I'm asking cos my friend said that prices are still going down and will be for the next year, due to the current crisis, so I should wait another year |
there you go then. tranceaddict got you covered on any issue of todays world. (we just wont hook you up with drugs, nurks) |
|
|
| Fibonacci |
| Wait a few months until the bubble actually bursts. You'll have lower housing prices as well as lower interest rates. Most of the subprime lenders will be gone, and the remaining lenders will be less likely to cater to the subprime market. At that same time, there will be a flood of houses on the market (from people selling who defaulted on their mortgages), and higher financial standards = more houses for sale than people buying = lower prices to try to get them to sell. |
|
|
| steven-neil |
Dont listen to all the bubble bursting bull and Real Estate jargon....Buy a house when it suits "YOU" best..Follow your heart...Listen to none of the above...
We recently bought a house in Florida when the market was good and lost a fortune...On the other hand we sold a house when the market was bad in New York and made a fortune...
Live within your means..If a slight drop in interest rates is gonna bother you,,now aint the right time... |
|
|
| jerZ07002 |
i agree with you steven, and i think it's for the same reason.
You buy a house (condo, whatever) to live in, and that should be your main motivation. A house isn't a speculative investment like stocks, options, or futures. If you live in your house for the long term, it doesn't even matter what market you buy in because it will inevitably appreciate in value. Don't treat a house like a stock because it isn't one. If you buy the house with the greatest chance of appreciation but hate almost everything else about it what the hell good is that for you? Sure you can just sell it, but that's not the point of buying a home.
If you want to speculate in real estate buy stock in a REIT.
| quote: | Originally posted by Fibonacci
Wait a few months until the bubble actually bursts. You'll have lower housing prices as well as lower interest rates. Most of the subprime lenders will be gone, and the remaining lenders will be less likely to cater to the subprime market. At that same time, there will be a flood of houses on the market (from people selling who defaulted on their mortgages), and higher financial standards = more houses for sale than people buying = lower prices to try to get them to sell. |
So the so-called bubble is going to burst in a few months? People make insane amounts of money forecasting these things for commercial and investment banks. You should get in on that action. |
|
|
| steven-neil |
| Exactly James...I bought my houses to live in and not to worry about what theyre gonna be worth in the future,, and why should I?...I have two houses and whether they gain or drop in value it is of no concern to me..I live in them ffs and they are no less beautiful because of the current climate.. |
|
|
| verndogs |
| quote: | Originally posted by steven-neil
Dont listen to all the bubble bursting bull and Real Estate jargon....Buy a house when it suits "YOU" best..Follow your heart...Listen to none of the above...
|
+1 |
|
|
|
|
