If You You Don’t Buy A House Now, You’re Stupid or Broke!
First, let us for say that these are not our words. The above title is actually an article that was published in Business Week, several days ago.I briefly reviewed the comments section and several commenters wanted the author to re-exam his life, his head, his thought process.
I for one think of it this way: As a young woman in the prime of my life with good financials and a stable household might be capable and able to have a baby, but doesn’t mean I should have one.
I think of real estate in these same terms: Buying a home is one of life’s longest commitments (30 years), unless you are buying cash. If you are not serious about being responsible and making on-time payments, maybe even some sacrifices, you’re going to fall into the foreclosure, short sale debacled that we are currently living.
The author of the article happens to be vesteded in people buying and selling homes as the founder of Home Warranty of America (He probably hopes people buy home warranties with their purchases).
I agree that now is a good time to buy if you have a stable job, savings, a desire to own a home and be responsible with your mortgage, and well maybe you want that tax credit or as I like to call it: Free Money!
Maybe I am working the real estate angel the wrong way, but I am totally offended by the above title. I won’t even comment on their site since I don’t want to add to that level of stupidity. It just doesn’t make sense to me why Business Week would even publish it to begin with.
It’s not just the title though. It’s the reasoning behind the author’s arguments. As offensive as it was to publish such an article-my opinion of course, there were some interesting comments.
We like Steve’s Comments
Brent Stone
“Broker Pam makes a great point. People don’t buy a house, they buy a house payment. Housing market prices fluctuate based upon that fact. When rates are low, a much larger percentage can go to principal. Therefore, the market will adjust to a higher price. So, sadly, when rates go up, interest will consume a larger portion of that house payment and the selling price must drop. Of course, there are other factors, but that fact is unassailable.”
Among other commenters. . .read and enjoy the debate. Then decide which side of the fence you are on!
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