brtlmj's Discussions

"a majority of 150-plus markets recorded year-over-year price gains." Of course, he would not think about comparing the relative sizes of markets that recorded gains and markets that recorded losses. And he conveniently forgot that any "gain" below inflation is a loss...

Wll, you can refinance into a lower rate in the future. You can not refinance into a lower price.Besides, it seems that in a few years I won't even need a mortgage.

*Well*

"...all engineers are geeks..." But we are! OK... all GOOD engineers are geeks ;-)

Anomaly? Not at all. Being a geek does not mean being a dork :-)

Marci, Unfortunately, you are right. Many people will suffer, and most of them did not really benefit from the bubble. But there is nothing that can be done to help them without hurting even more people.

"Obviously tightening will continue and soon maybe credit scores may have to be above 750 or 800 to even qualify. Full doc verified assets and income, 20% down minimum etc, etc." Well, what can I say? GREAT NEWS! This isthe way it should be.

"Ask  a bank that use to require only a 5% deposit have now increased to a 10% deposit." I'll buy when they require 20% or more.

"...we are destroying the economy by not buying right now...." But we are! We are destroying the economy based on selling homes to one another. I am happily doing my part.

"And just continue to rent until what point?  If you don't qualify, you don't qualify. " Continue to rent until you qualify:    - renting is much cheaper than buying, so you can save money for you downpayment while you rent.    - it is surprisingly easy to earn a good credit score - even if you start from zero. I'd even say that if you can't get your FICO above 700 within few years and can't save 20% downpayment, you shouldn't consider buying a house.