You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”
In a normal market, people who cannot afford to buy... rent. And when the market starts tanking is the time to start buying and renting out these properties. With Obama screwing with the market, investors have a more difficult time estimating ROI... so prices tank further because those with the ability to buy aren't interested in a game where the rules are always changing and the future renters are being propped up by Obama.
Usually this would be the time to start snapping up properties... getting steals, renting them for fair market value, making negligible ROI in the short term, and increasing rent as the market heats up. That combo is a hot one for making money, as the house prices will increase, someone will pay your bargain mortgage, and having bought the house for a bargain you'll have cash in hand monthly after all payments are made. Put some aside for repairs or the month or two when the house could be awaiting renters.. and you're laughing... usually.
I'll wait a while longer... but if anyone is interested in investment properties... PM me.
Last edited by zimmer; 01-13-11 at 01:38 PM.
I AM DEPLORABLE.
NEVER CRIMINAL HILLARY (S-NY)
As to the sky falling, is every correction in a market a falling sky? Markets are cyclical. Our issue is exactly as you described. Government assisted the creation of this bubble through incentives and guidance that were bad. It was huge when the market collapsed. But we know that now, and it's been years of correcting. The fact that home prices are still dropping some...doesn't really make me think a second shoe is going to drop or that the market is not already adjusted to this.
If people are out their making responsible lending, borrowing, career, education, spending, and savings decisions, I don't think it's all that important for most people. They should decompress and watch football or play WoW (oddly, I don't do either).
Last edited by Mach; 01-13-11 at 02:48 PM.
Your 700,000 figure is wrong. You are like a fish out of water when you discuss subjects of which you are ignorant. Check it out pal: Home Affordable Modifications Program Fails to Hit President
You know what - this is my general view on the housing market:
Home production increased.
Ergo - the cost of homes should have dropped - but it didn't it steadily increased. Sometimes faster than other times - but it increased for many years.
Why did it increase?
Why is it not like all other products in which an increased SUPPLY and an increased DEMAND lowers the cost?
A screaming comes across the sky.
It has happened before, but there is nothing to compare it to now.Pynchon - Gravity's Rainbow
2. you are not my pal