YOU ARE STUPID or Broke if you don't buy

Very subtle on his/her part!

http://www.businessweek.com/lifestyle/content/dec2009/bw2009127_753974.htm

well i concur...:)

A little about the author of the article:

Marc Roth is the founder and president of Home Warranty of America, which touches just about every part of the real estate industry since it sells through builders, real estate agents, title companies, mortgage companies, and directly to consumers.

so..........
your point is?

movinup1, you can't figure it out yourself?

i guess those rose-colored glasses work.

uh...

"Marc Roth is the founder and president of Home Warranty of America, which touches just about every part of the real estate industry since it sells through builders, real estate agents, title companies, mortgage companies, and directly to consumers. "

yes, all things that require houses to be bought.

Scumbag.

This guy belongs in the same prison cell that David Lereah and Lawrence Yun should be in ...

so the interest rates really aren't that low? i guess i'll wait til it goes down to 2%.
real estate, as most purchases are, subjective. it is the right time for different people at different times and for different reasons. i do agree that rates have more room to go up than down....
BTW i don't wear glasses, contact lenses

go for it movinup1. your life is your oyster. or whatever.

but the source, not so good.

"so the interest rates really aren't that low? i guess i'll wait til it goes down to 2%. "

Are you really that dumb? Try this instead:

1) Wait until "the" interest rates go UP, which they will do shortly. That will drive prices down another 10-20%, given all the other issues in the market right now.

2) Buy a home you think you can live in for 8+ years - at a LOW price.

3) Wait 2-3 yrs until the next phase of the business cycle, when rates fall again. Refinance at a low rate.

4) Repeat step 3) mulitple times during 30 year mortgage.

Then, you'll have BOTH a low purchase price AND low cost of financing. Sure, you can buy now and get low financing - but only if you lock in what is still a historically high purchase price. And once you overpay, that money is GONE FOREVER. You'll NEVER get it back. But interest rates can be refinanced over and over and over again. You do the math...

what????
thanks for the economics lesson.

Why do people think it has anything to do with the interest rate? You live in a house it has nothing to do with it. If you buy a new place then it just has more interest expense but the house is the same.

i agreed interest rates are low, didn't intend to become a target of your self righteous all knowing BS,

living in a house has nothing do with interest rates, buying a house and taking out a mortgage has everything to do with interest rates.
again people live and let live :)

Then....call me stupid. But I figure I've saved over $200K by renting and not buying over the past 5 years. Sometimes, God smiles on us stupid people. Just like Forrest Gump who bought some shares in that fruit company, Apple. Wonder what my smart friends who bought when I continued to rent would say now?

rmrmets - how much will you save over the next five? That's the question.