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Originally Posted by goBigtime
Nice house!....
but you couldn't pay me enough to sign a mortgage agreement right now.
http://www.washingtonmonthly.com/fea...ace-wells.html
http://money.cnn.com/2004/09/17/real...y_bubble_0410/
Or you could listen to this guy who wants to sell you Real Estate investing books & tapes:
http://www.legalwiz.com/articles/bubble.htm
In the end someone will be right and someone will be wrong on this subject.
It's pretty simple... from what I've seen, people who are saying "There is no bubble" are IN the industry, making money off the industry, making money off higher prices and more activity.
People in the "there is a huge bubble and it's about to blow!" camp are usually economists or researchers.
It doesn't take much of a historian to realize that by the time the masses start making money hand over fist on something... it's usually a trap.  |
It depends on whether its an investment property or a primary residence.
I don't think buying investment property right now is a great idea.....then again I think he's in Kentucky, not Socal...so that makes a big difference.
Everybody has to live somewhere....and if the real estate bubble bursts long term rates will go up as well so when you look at what your house payment is going to be I think its 6 to 5 and pick em.
Lower housing cost + much higher rates....or
Higher housing cost + much lower rates.