A good primer for the newbies on maybe the biggest mistake in RE (or investing)... http://blogs.reuters.com/felix-salmon/2009/11/30/the-housing-speculators-return/ The housing speculators return Post a comment (11)Posted by: Felix Salmon Tags: housing It seems the housing speculators are back, and Daniel Indiviglio is joining their ranks, now that mortgage rates are back at record lows. “If you’re... [more]
A good primer for the newbies on maybe the biggest mistake in RE (or investing)...
http://blogs.reuters.com/felix-salmon/2009/11/30/the-housing-speculators-return/
The housing speculators return
Post a comment (11)Posted by: Felix Salmon
Tags: housing
It seems the housing speculators are back, and Daniel Indiviglio is joining their ranks, now that mortgage rates are back at record lows. “If you’re in the market for a home as a long-term investment, say at least 10-15 years, it’s pretty hard to make an argument against buying now,” he says.
It’s hard to know what to make of this. Some people are looking to buy a home — that’s understandable, given that everybody needs shelter. And some people are looking to invest money with a long-term time horizon. And some people even fall into both categories at once. But that’s no reason to desperately try to conflate the two, and to describe yourself as being “in the market for a home as a long-term investment”.
It bears repeating: homes aren’t investments, they’re places to live. If you can buy a nice house for less than you’d otherwise pay in rent, then go ahead and buy — no matter what the market looks like, or where mortgage rates are. On the other hand, if you’re looking for an “investment”, stick to securities. You can sell those much more easily when you need some money, and they won’t drive you into possible bankruptcy and homelessness if they go down rather than up.
In any event, low mortgage rates are if anything a reason not to buy: after all, the best way to make a lot of money in the housing market is generally to buy when rates are high and sell when rates are low. If rates rise from here that will keep a lid on prices, and if they fall then there’s no particular reason to buy now.
Some people have a strong emotional need to buy a house, and those people will always be able to find themselves some kind of good reason why they should Buy Now. But if you’re genuinely on the fence about whether to buy or not, then looking at mortgage rates isn’t going to be nearly as useful as looking at local rental rates, and their possible future course. Right now is one of those rare times when prevailing rents might actually fall rather than rise — in which case the rent vs buy calculator is likely to tip even further into “rent” territory. If it signals a “buy”, and you have the money to purchase a house, that’s great. Just make sure you’re happy with the house qua house, and you’re not kidding yourself that you’re making an “investment”.
[less]
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
positivecarry, mazel tov on your Bar Masa.
hi hfscomm1
Ignored comment.
Unhide
Response by Rhino86
about 16 years ago
Posts: 4925
Member since: Sep 2006
Spineless piece of shit? Where did you go? I'm 14. Make a bet then you pussy muni broker pion piece of shit.
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
Meathead making more friends.
Ignored comment.
Unhide
Response by NWT
about 16 years ago
Posts: 6643
Member since: Sep 2008
For the sake of future googlers who might miss the thread, it's "peon".
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
Or "paean" or "paeon" or "paeony" or, maybe even "pawn"?
"Pion" is a word, but its meaning is quite different.
:I
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
He's referring to the Golden Shower.
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
That would be "pee-on," but dashes aren't allowed in Scrabble.
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
I thought we were playing scrapple.
Ignored comment.
Unhide
Response by Rhino86
about 16 years ago
Posts: 4925
Member since: Sep 2006
Darn...thanks for the spellcheck. I think my heart is in the wrong place though. Steve, it saddens me that you wouldn't audit my pissing contest. I can only hope I've heard the last of him.
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
Hardscrabble.
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
What kind of idiot can't spell peon? Have you ever read a book, or anything other than your CFA study manuals?
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
They're baaaaaaaaaaaaaaaaaaack!
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
columbiacounty, interesting we are in agreement on Rhino being "king of the idiots".
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
hfs, don't bring me into this. Not into that scene, really.
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
What scene is that?
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
hi hfscomm1
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
hi alamefart, what time is the van coming to pick us up tomorrow morning?
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
hi hfscomm1
Ignored comment.
Unhide
Response by w67thstreet
about 16 years ago
Posts: 9003
Member since: Dec 2008
hi hfs
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
Hello, I was told a few weeks back to watch out for you, that you'd be the one to destroy me. Were they joking with you or with me?
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
hi hfscomm1
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
alame, so the van is picking you up first at 7:45am and then will swing around to get me. Don't be late this time and don't forget your gloves, I'm not bringing an extra pair this time.
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
hi hfscomm1
Ignored comment.
Unhide
Response by hfscomm1
about 16 years ago
Posts: 1590
Member since: Oct 2009
alamefart, if you keep this up then Mr. Bob won't let you have snack time tomorrow.
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
hi hfscomm1
Ignored comment.
Unhide
Response by JuiceMan
about 16 years ago
Posts: 3578
Member since: Aug 2007
Howard Stern? More like Richie Cunningham.
Ignored comment.
Unhide
Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008
Goooooooooooooooooood Morning Rhino! It seems you've had a busy weekend. What have I been up to you ask? Let me see......
Friday I went to Bar Masa for dinner (it was delicious, thanks for asking). After that, I had a few drinks at Stone Rose, and closed out the night at Griffin.
You? You were on the internet.
Saturday I had breakfast for lunch, went to bowlmor and had a OK first game, but almost broke 200 on my second, so I felt pretty good. We then went to Ma Peche for dinner. Love that vietnamese food!
You? You were on the internet.
Sunday was football. That's 12 hours right there.
I'm sorry I didn't get back to you sooner, but this website doesn't rule my life like it does for you. If you can't handle the fact that there are people think your views are stupid, life is going to be very frustrating for you.
As for your "contest", I don't even tell my WIFE where all my money is. Why would I ever stoop so low as to letting a messageboard bitch affect my life?
Hope you got that report finished in time.
Ignored comment.
Unhide
Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
It's not nice to call your WIFE a "messageboard bitch," is it?
Ignored comment.
Unhide
Response by Rhino86
about 16 years ago
Posts: 4925
Member since: Sep 2006
Okay cunt, just don't address me anymore. And keep that bitch of a wife in check too.
Ignored comment.
Unhide
Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
Rhino, you have it backwards ... the wife keeps him in check. You'll note that he was thrown out their apartment for virtually the entire weekend: "Friday I went; I had a few; I had breakfast".
Ignored comment.
Unhide
Response by Rhino86
about 16 years ago
Posts: 4925
Member since: Sep 2006
I'm not sure I believe he has a wife. God imagine being married to a broker with a 22 yr old bachelors mentality.
Ignored comment.
Unhide
Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008
Uhhhh, rhino's the bitch, in case I lost you in my narrative. Wifey was partying with me the whole time.
I'll call you out whenever you act stoopid, which is pretty much every post of yours, when you're not trying to set up a fight club.
Ignored comment.
Unhide
Response by positivecarry
about 16 years ago
Posts: 704
Member since: Oct 2008
Yeah rhino, imagine there are people who go out and have a social life. I'm sure you could tell me all about the latest Jersey Shore episode, so I'll keep you in mind when I miss some "must see" tv.
'/%3e%3c/g%3e%3c/svg%3e)
positivecarry, mazel tov on your Bar Masa.
hi hfscomm1
Spineless piece of shit? Where did you go? I'm 14. Make a bet then you pussy muni broker pion piece of shit.
Meathead making more friends.
For the sake of future googlers who might miss the thread, it's "peon".
Or "paean" or "paeon" or "paeony" or, maybe even "pawn"?
"Pion" is a word, but its meaning is quite different.
:I
He's referring to the Golden Shower.
That would be "pee-on," but dashes aren't allowed in Scrabble.
I thought we were playing scrapple.
Darn...thanks for the spellcheck. I think my heart is in the wrong place though. Steve, it saddens me that you wouldn't audit my pissing contest. I can only hope I've heard the last of him.
Hardscrabble.
What kind of idiot can't spell peon? Have you ever read a book, or anything other than your CFA study manuals?
They're baaaaaaaaaaaaaaaaaaack!
columbiacounty, interesting we are in agreement on Rhino being "king of the idiots".
hfs, don't bring me into this. Not into that scene, really.
What scene is that?
hi hfscomm1
hi alamefart, what time is the van coming to pick us up tomorrow morning?
hi hfscomm1
hi hfs
Hello, I was told a few weeks back to watch out for you, that you'd be the one to destroy me. Were they joking with you or with me?
hi hfscomm1
alame, so the van is picking you up first at 7:45am and then will swing around to get me. Don't be late this time and don't forget your gloves, I'm not bringing an extra pair this time.
hi hfscomm1
alamefart, if you keep this up then Mr. Bob won't let you have snack time tomorrow.
hi hfscomm1
Howard Stern? More like Richie Cunningham.
Goooooooooooooooooood Morning Rhino! It seems you've had a busy weekend. What have I been up to you ask? Let me see......
Friday I went to Bar Masa for dinner (it was delicious, thanks for asking). After that, I had a few drinks at Stone Rose, and closed out the night at Griffin.
You? You were on the internet.
Saturday I had breakfast for lunch, went to bowlmor and had a OK first game, but almost broke 200 on my second, so I felt pretty good. We then went to Ma Peche for dinner. Love that vietnamese food!
You? You were on the internet.
Sunday was football. That's 12 hours right there.
I'm sorry I didn't get back to you sooner, but this website doesn't rule my life like it does for you. If you can't handle the fact that there are people think your views are stupid, life is going to be very frustrating for you.
As for your "contest", I don't even tell my WIFE where all my money is. Why would I ever stoop so low as to letting a messageboard bitch affect my life?
Hope you got that report finished in time.
It's not nice to call your WIFE a "messageboard bitch," is it?
Okay cunt, just don't address me anymore. And keep that bitch of a wife in check too.
Rhino, you have it backwards ... the wife keeps him in check. You'll note that he was thrown out their apartment for virtually the entire weekend: "Friday I went; I had a few; I had breakfast".
I'm not sure I believe he has a wife. God imagine being married to a broker with a 22 yr old bachelors mentality.
Uhhhh, rhino's the bitch, in case I lost you in my narrative. Wifey was partying with me the whole time.
I'll call you out whenever you act stoopid, which is pretty much every post of yours, when you're not trying to set up a fight club.
Yeah rhino, imagine there are people who go out and have a social life. I'm sure you could tell me all about the latest Jersey Shore episode, so I'll keep you in mind when I miss some "must see" tv.