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Lord Snooty · 05-02-2007, 06:53 AM

thingstodo wrote;
It just kills me the way everyone else is saying not to buy a house because there's a slump or that the payment is higher than renting (only if you're dumb enough to do that!). They must have bought high and sold low!

I obviously don't sell when the market is low which is the same principle most people take when purchasing stocks, etc.

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It just kills me that you don't seem to be able to take your own advice..!

If you "obviously don't sell when the market is low..." do you buy when the market is high.? No? .. good.
So why are you urging someone to buy now when the entire property world knows that house prices are going to seriously fall over the next twelve months?. The man doesn't have a house to sell so he can afford to wait and get a better deal.. Does that not make sense...?
If a 300 thousand dollar house falls to 250 thousand in the space of a year then the buyer has saved 50 thousand when he buys it. His rent didn't cost him 50 thousand, it cost him not even half that. The house value will eventually go up again... (they always do), but he won't owe the extra 25 thousand or more he would have had to borrow if he bought it at 300 thousand.
It's the same principle if you borrow money for any commodity that has a fluctuating market, so why would houses be any different?. Why pay more interest than you need to.?
If you took the time to read my previous post you would see that I have bought during a slump on several occasions ( and I made a hefty profit every time.)
The logical thing to do if you don't have a house to sell, is to buy in a slump if at all possible, as with anything you get the best deals from sellers (and realtors.) It's not always possible, but if the timing is right, it's worth the wait. And in this case the timing is right.

And to quote your post again... "everyone else is saying not to buy a house because there's a slump" ..

I don't see anyone saying that, In fact I am saying quite the opposite..

05-02-2007, 06:53 AM	#19 (permalink)
Lord Snooty Upright Location: MA	It just kills me.......? thingstodo wrote; It just kills me the way everyone else is saying not to buy a house because there's a slump or that the payment is higher than renting (only if you're dumb enough to do that!). They must have bought high and sold low! I obviously don't sell when the market is low which is the same principle most people take when purchasing stocks, etc. ------------------------------------------------------------------------- It just kills me that you don't seem to be able to take your own advice..! If you "obviously don't sell when the market is low..." do you buy when the market is high.? No? .. good. So why are you urging someone to buy now when the entire property world knows that house prices are going to seriously fall over the next twelve months?. The man doesn't have a house to sell so he can afford to wait and get a better deal.. Does that not make sense...? If a 300 thousand dollar house falls to 250 thousand in the space of a year then the buyer has saved 50 thousand when he buys it. His rent didn't cost him 50 thousand, it cost him not even half that. The house value will eventually go up again... (they always do), but he won't owe the extra 25 thousand or more he would have had to borrow if he bought it at 300 thousand. It's the same principle if you borrow money for any commodity that has a fluctuating market, so why would houses be any different?. Why pay more interest than you need to.? If you took the time to read my previous post you would see that I have bought during a slump on several occasions ( and I made a hefty profit every time.) The logical thing to do if you don't have a house to sell, is to buy in a slump if at all possible, as with anything you get the best deals from sellers (and realtors.) It's not always possible, but if the timing is right, it's worth the wait. And in this case the timing is right. And to quote your post again... "everyone else is saying not to buy a house because there's a slump" .. I don't see anyone saying that, In fact I am saying quite the opposite.. Last edited by Lord Snooty; 05-02-2007 at 07:00 AM..