Quote:
Originally Posted by Jr
Alright... Who has a crystal ball that is in good working condition?
Where will real estate and the economy be in one year? If you listen to the main stream media, real estate will be worse off then the crash a few years ago.
Opinions are welcome.
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You should take a longer term approach.... nobody has a crystal ball... that's just guessing. Might as well toss dollars up in the air and follow them down the street.
If you want to be a home owner... and your primary residence IS NOT an investment... it is simply a place where you live... and I don't give a **** how long you live there or what the market does - you never make money on it. People say -- I bought for X and sold for X more. Yeah?? BFD..... you also paid INTEREST for "X" years... and property taxes... and up keep... and then you sold your inflated house and paid an inflated price for the next dump you bought to live in and repeat the process. Add up the COSTS -- you didn't make any money. Having said that... the GOAL of home ownership (primary residence) is to retire in a paid for house so that you don't have that cost to bear out of retirement income. If you use that goal... then you'll understand that was a smart decision.
Investment property is an entirely different discussion but I assume you're asking about whether or not you should buy a house for yourself. Then the answer is yes - and be quick about it - prices are rising and so are fixed interest rates. Lock in as long a term as you can at the lowest FIXED rate you can.