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Answers (2)
- Dan, "the_country_hick"
- Contributions:4693
I could not get a loan during the bubble years. Well, I could not get enough of a loan I could really afford to buy a house at bubble prices. I saved my money, I kept getting further and further from being able to buy a house. Now a few years later I will only buy with cash. The lending process does not affect me.
The economy does not matter to me when deciding to buy. What matters is house prices and if they are changing and in what direction. House prices are dropping so I must wait to buy lest I ruin a lot of valuable money I saved the hard way over many years.
Drop house prices to 1997, maybe 1999 levels and I would buy now. Can you do that?
The economy does not matter to me when deciding to buy. What matters is house prices and if they are changing and in what direction. House prices are dropping so I must wait to buy lest I ruin a lot of valuable money I saved the hard way over many years.
Drop house prices to 1997, maybe 1999 levels and I would buy now. Can you do that?
- SteadyState
- Contributions:783
I am not buying because the home prices are still unsustainable. Take for example Cupertino CA. (2008 data) Median . household income $120K. Median home price $1M. Only 40% of Cupertino households make over 100K per year (see http://www.bestplaces.net/zip-code/Cupertino-California-95014.aspx#).
Sunnyvale is even more skewed.
Real Estate is local but is overpriced mostly everywhere.
Sunnyvale is even more skewed.
Real Estate is local but is overpriced mostly everywhere.
Buyers: Are you putting buying on hold because of the economy or is the lending process holding you.
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- 0.0/5.0
- (no reviews)
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