Tables have turned - renters are not suckers anymore (LA Times)

NEW -> Contingent Buyer Assistance Program
Yep, i was considered a sucker because i didn't afford a 4-5k mortgage. I just laughed at a home builder today because their Taxes/mello-roos/fees came out to about 1400 a month. Maybe when the houses come down a little bit, it should be a little more affordable.

Good luck

-bix
 
In 2002, my cousin advised me to buy a house NOW. He assured me that a profit will be made. I didn't listen and he made a fortune. In 2005, my friends told me to buy a house NOW. By then, I had wisened up and realized that the game is about to be over. So fortunately, I didn't buy. So how do I feel today?

Do I feel retarded for now buying in 2002? Am I relieved for not buying in 2005?

Yeah, should have listened to my cousin. He was clearly explaining to me that home prices were rising much faster than mortgage payments.

I guess the lesson to be learned is to listen to what others say, but be sure to analyze it carefully.

I predict people with extra cash will buy by the end of 2008. I predict the normal buying public will buy by the end of 2009. I predict that by 2010, no one would even care to talk about real estate anymore.
 
You know hs tea. . ., you got me thinking. . . I'll bet that 95% of the money that's going to be made or lost from this cycle will be because of good or bad luck at worst or bad/incomplete reasoning. People just like kind of have a certain want in mind and act on that. . . or they just look for minimal evidence to support whatever it is they want to do.
 
It's just another pyramid scheme if you ask me. Those who bought and sold early probably took 80% of the profits. Those who bought and are still holding to RE now will pay the 80% loss. I think for every one big winner, there are 10 losers. I seriously know some major winners and many sore losers. And no, I'm not going to shift my timeline. 2008 will have rich buyers. 2009 will have normal buyers. And in 2010, IHB will be a desert due to the inactivity of bloggers.
 
I didn't buy because I'm smart or because I saw the Bubble coming, I didn't, I didn't buy because I couldn't comfortably afford to do so...

IHB is a wealth of information, it's populated by People who deal with property, Lending, buying and selling etc on a daily basis, however, there's also a huge amount of the population that are busy thinking about other things and the Housing Market normally only comes up in conversation now and again. A lot of these people aren't Dumb, they're Doctors, Nurses, Engineers, IT specialists, Airline Pilots...the list is endless but the majority of these People spend their Daily lives doing what they're supposed to.....

At the end of the Day I just think it's a travesty that the average or even above average decent hardworking person can't afford to buy a reasonable House/Condo in a nice safe Neighborhood and not have to sit on a Freeway for 4 hours a Day...

No, I don't think us Renters are smart, we rent because for one reason or another we're forced to...let's face it.

Something has gone horribly wrong for whatever reason, everything got out of control and the faster we go into Recession or even depression and get the inevitable pain over and done with the better in my opinion....
 
I'll take the Pepsi challenge on that one hs_.

Far be it from me to be critical, but I think you're overly optimistic - on both market conditions and your calculations.
 
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