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<p>Buying now would be plain stupidity. This year and next will be the greatest YOY drops of the crash (followed by several years of smaller drops). </p> <p>I want to jump off a cliff, should I wear a sweater or cardigan?</p>

<p>"cliffs notes: can't fight gravity."</p> <p>Can't fight gravity... that's all the answer anyone needs to counter proposals of how to keep the housing bubble inflated. Can' t fight gravity... I like it!</p>

<p>DR - good idea about the credit unions. I will look into it. I don't know much about t-bills, but will research them too.</p> <p>To respond to some of the other points - </p> <p>1. Yes, my global purchasing power in dollars will likely plummet. But I would not buy Euros now either...

<p>To me, buying gold is putting your money on the gold at the roulette table (as opposed to red or black). I have no control over the outcome of the spinning wheel. Can anyone say with certainty that the price of gold will not plummet? I don't want to be at the roulette table at all.. </p>

<p>I know this topic has been posted on exhaustively, but I am getting really concerned about the banks. I don't know much about finance, but I see story after story of write-down, massive losses at the banks (in the billions) and disaster seems to be pending. Ultimately, the housing bubble...

<p>my point is there are lots of shades of gray here... there is no basic moral guideline that can be used to judge people in their position. I'm glad I never bought into the frenzy, so don't need to negotiate those murky waters myself. I feel sorry for those that did buy in at the peak...

thanks, I was afraid of that. I don't know how ING will fare in the coming meltdown, but I know their stock took a big hit recently.

<p>Worrying about the morality is pointless, like having a debate on abortion . Both sides are right, and people will do what they need to do. </p> <p>If I lived in a Stockton development, where most of the houses are vacant, and I owed 70% more than the house could sell at, I would walk...

<p>I actually think those people are doing the reasonable and sane thing. Imagine paying a $600K debt on a $200K house for the rest of your life. Saving every penny, no college for your kids, no money for life's pleasure... just paying the stupid mortgage. It's a debtor's prison worse than...

<p>I have the same ING annoyance... that 5% was supposed to help with the downpayment over the next 2-3 years. I'm leaving it in ING though... I won't risk anything else, even though I'm losing to inflation. There is a cost to holding on to your money in chaotic times... I don't trust anybody...

<p>bigmoney - thank you. That is what I am trying to say, in my complicated way. The rent/own equation is a lot more complicated than either side allows. The 160 or 200 x rent may be a general rule, but it doesn't necessarily apply. Important variables are - current age, planned retirement...

<p>IrvineRenter, there is a premium to renting in terms of personal freedom. I agree. There is also a premium to owning, in terms of putting down roots, making good friends with neighbors and planting a long term garden. Also true, and it is an infinite argument which is better, because it is...

<p>I've never really believed the usual rent vs. own arguments. Those favoring owning always point to the tax break (which is much smaller than they let on) or the "Pride of Ownership"/"American dream" arguments that pull away from the financial platform. Renters just point to the monthly...

Personally, I think it is the builders that will be the catalyst that drive the prices down rapidly. Resale homes will tend to be sticky, because sellers have the higher prices imprinted in their minds. Then there are recent buyers that have no way to drop prices, since they owe more than the...

sell now for whatever you can get, and rent for a few years. Then buy that house for a 10 year fixed rate loan, pay it off and start saving seriously for retirement. That is my plan,and I'm sticking to it (house already sold... thank god).

Posted earlier, but I had seen it myself and was wondering. Does the $980,000 seem right for a 4 BR MV house... very average looking at that (although large). Seems fishy. 21841 ONTUR, Mission Viejo, CA 92692** List Price: $650,000 Last Sale: 03/31/06 Sales Price: $980,000...

<p>I'm in the same boat (although not with as much as you bastards!) My plan is simple - keep the money at ING at around 5% until it makes sense to buy. When will it make sense? God only knows, but I think it will be clear at the time. Basically, if I can pay cash or have a very short term...