Let us **** over Imran and Apocalypse in the housing market thread number two

[Apocalypse]

I mean down payment when buying a house, not with rent.

And in some places (not just Texas) some down payments on rent are not something you get back...such as with some application fee. Security deposits yes though.

[notyoueither]

There are some very reasonable real estate prices in some parts of Texas, from what I've heard.

It could easily be better to buy than to rent.

[Asher]

I think in general, it is -- just depends on market conditions. Renting is, quite simply, flushing money down the drain.

I'm not sure buying a house with Apoc's age and situation (even in 2 years), combined with the housing market and the US economy is the brightest idea.

[Apocalypse]

In 2 years I'll be 25 (lower car insurance payments) and have about $50k saved up at a minimum, even after buying a new truck. So basically I think I'll be set.

[MRT144]

are all of you ignorant or oblivious?

http://seattlebubble.com/blog/2007/03/21/rent-vs-purchase-a-comparison/

[Apocalypse]

Well, people I know here have lower mortgage payments than those who rent a house. Again, these people had a down payment so their interest and whatnot is lower. It's only a difference of about $100, but still, it adds up.

[MRT144]

Originally posted by Asher
I think in general, it is -- just depends on market conditions. Renting is, quite simply, flushing money down the drain.

I'm not sure buying a house with Apoc's age and situation (even in 2 years), combined with the housing market and the US economy is the brightest idea.

if rents are half as much as a mortgage payment and you took that money you werent spending on a mortgage and put it in an investment that outgained home appreciation rates, who comes out ahead?

renting isn't flushing money down the drain if owning a home loses more money.

[MRT144]

Originally posted by Apocalypse
Well, people I know here have lower mortgage payments than those who rent a house. Again, these people had a down payment so their interest and whatnot is lower. It's only a difference of about $100, but still, it adds up.

are these homes a depreciating asset that they intend to sell?

[Apocalypse]

Nope.

[MRT144]

Originally posted by Apocalypse
Nope.

they willllllll be

[Dinner]

****ing Bush administration didn't do **** for me. I had a two year fixed which started floating last year and the interest on my payment has gone up over $500 per month since it started floating last year. My original plan was to refinance after the fixed rate period was over but since the value of my home has gone down $120,000 in the last 18 months there is no hope of that especially in the current liquidity crisis. I am current in all my payments and will remain so but to invest $70,000 down on a house and to find myself $50,000 under water three years later is a bit of a downer.

[Dinner]

Originally posted by Imran Siddiqui
Well, yeah... but not that soon .

Well, especially not now .

I was just making a joke .

Provided you can get credit in the current liquidity crisis now would be an excellent time given the decline in home prices. Invest against the flow and all that.

[Dinner]

Originally posted by Apocalypse
Well, the thought process would be that I could sell the house I buy and get an even better one a few years later.

In any case, kids can happen at any time anyway.

Then you are retarded to think Bush's move is bad for you. A sudden drop is far better then a plateu or minor drop if you plan to buy in a few years or want to flip it a couple years after buying it.

[Dinner]

Originally posted by MRT144

are these homes a depreciating asset that they intend to sell?

I don't know about the others but I like my home and intend to stay there for several years so I am not bothered by the drop in prices. Well, beyond my in ability to refinance.

[MRT144]

Originally posted by Oerdin


Provided you can get credit in the current liquidity crisis now would be an excellent time given the decline in home prices. Invest against the flow and all that.

not really. the haircut on this could be huge. if I had the ability to secure credit adn I didnt bork my credit in the next 5 years my expectations are that I could still get credit and buy a home for far less.

you wouldn't be a contrary if you bought now, you'd be an idiot.