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If everyone had a negative attitude like that 75 years ago we would still be in the great depression. You need to look at history and history always seems to repeat itself. The economy is essentially a ten year cycle it goes up and it goes down. Timing the real estate market is like trying to time the stock market and the pros seem to miss the perfect time to buy over and over again.
Rich,
I don't agree that its "always" a ten year cycle, but it is a cycle. The question I would pose to you is shouldn't people buy at the best possible price?
Why buy if the market still is showing a decline?
I've started to see this "negativity" comment on these boards lately. As if people should buy because it is their responsibility to bite the bullet for the good of the Nation.
there are not call for the sacrifice, the call is people do what is make sense to them,
buy in the market that mortgage+tax <= rent, have good income to support for the mortgage, etc...
the jobs will be safer If the people living in the improve ecomomy, if the people have the job, they can pay for the mortgage.
if the economy going down, the job will be lost, they can't buy the house, even if they have the big down payment.
Hoang,
If you are an experienced buyer or believe you are an experienced buyer and you feel that it is a good time to buy then buy. This market is tricky, I tend to believe that most "investor" buying (non-occupant) buying has very high risk attached. Are there good value buys? Yes. No doubt, but what I think most of the Doomer message is aimed at those Buyer's who do not know much about the market. These are the people who are bombarded with 'its a great time to buy", but that message is not backed with anything other then a slogan.
the Realtor's on this board are not here to market to people such as you because you will make that decision yourself based upon your circumstances and your belief that you know value when you see it. The Realtor's who are cheerleading for buyers to jump off the fence are praying on those that don't know much about the current market or RE and will be putting their faith in the hands of these "professionals". I for one think that is wrong and for those that are looking to buy a home (not an investor) most market indicators in most markets are saying you take less risk in waiting and will probably get a better deal.
balance of power? maybe balance of truth.
Although I think I would have to disagree with you. I am not a Doomer. I would say that I am a Cheerleader for those who know what they are doing. Those people do not need to be told that its a good time to buy, because they are always looking.
I might sound like a Doomer, because I do believe that this is an extremely tricky market. Can you find good value? Yes. Should you buy if you see value in certain product? Yes. Should you trust the REA who says "its a good time to buy" without any justification? No.
There are more bad buys in the market then good buys. Its a great time to buy if you know what you are doing and what you are looking for, because you are able to evaluate the property yourself and know what value is to you. My concern on these boards are for those who will put that trust in an Agent who might not be qualified to consult correctly. That is why I do not support the statement "its a great time to buy", because that is untrue for the majority of property on the market.
If you can buy a house for less money a month than the rent you are paying and it is something you really like you would be a foul not to get it. I’m buying houses now and 5 or 8 years from now I be worth a lot more than I am now. So keep up that bad attitude and drive the market down some more so I can buy some more houses even cheaper and when the market turns I’ll make even more money.
Rich,
I don't understand your argument. On one hand you say "its good to buy now", but on the other you say negativity will continue to drive the market down so that you will "make even more money" when you move into buy houses at cheaper prices.. Why would you tell your clients to buy now, if you are going to wait for the market to drop? If you see the market continuing to drop and you will wait to move in and buy, then why wouldn't you tell them to wait until you move in?
hmmm... interesting. Must be that commission.
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Why thinking you'll be okay if you're in it for the "long term" could be a Bad Mistake.
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Who cares if prices keep falling if you are in it for the long term?
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