denfromoakvillemilton
Senior Member
No thanks, I'm quite alright having to rent til I die if this is the alternative.
Well its either that or let's pop the housing bubble at this point.
|
|
|
No thanks, I'm quite alright having to rent til I die if this is the alternative.
Foreclosure Nation!..., no seriously, you should not be buying things you can't afford.Yeah, but that would mean interest rates rising and people becoming unable to pay their mortgages. I'd rather that not happen. I'd prefer a softening in demand.
I'm not....but a lot of other people are.
Foreclosure Nation!..., no seriously, you should not be buying things you can't afford.
Define affordability. Sure, people should plan in a few points in interest rate rising to make sure they can renew after their term is up, but if a true bubble burst were to happen where prices declined a great deal over a short period of time even people who didn't overextend and who put down 20% on a 25 year amortization could find themselves in trouble. The masses of people who are forced to sell or go into foreclosure will be looking to rent and rental prices will skyrocket. The bubble burst could lead to the entire economy tanking, much like it did south of the border.
Hoping for the real-estate bubble to burst is at best incredibly silly.
Right, but there are those people making, well not a lot, and buying these homes. There are also the absent owners. This market is way too overvalued.Define affordability. Sure, people should plan in a few points in interest rate rising to make sure they can renew after their term is up, but if a true bubble burst were to happen where prices declined a great deal over a short period of time even people who didn't overextend and who put down 20% on a 25 year amortization could find themselves in trouble. The masses of people who are forced to sell or go into foreclosure will be looking to rent and rental prices will skyrocket. The bubble burst could lead to the entire economy tanking, much like it did south of the border.
Hoping for the real-estate bubble to burst is at best incredibly silly.
See? Outrageous.Indeed it is. Very short-sighted. Hoping for more affordability is more appropriate. I'm looking for a condo in the $450K range and not finding much for my needs. Half a million dollars. It's nuts.
It's in all of our best interest that the housing market has a soft landing, and not just the interest of those who bought more than they could afford.
That's what I was saying. My rental costs are already high enough and vacancies too low.
Well its either that or let's pop the housing bubble at this point.