Originally Posted By: aquariuscsm
Originally Posted By: oilboy123
I don't know how anybody can predict things. I know they say the economy is slowing. But my brother in law, and sister are thinking the stuff is going to hit the fan, if you know what I mean? Thoughts? I guess some people did predict the last downturn?
E-mail my brother in law sent to me:
"This might be worth considering. I strongly do not recommend buying a house in this economy. If the economy gets as bad as predicted you may loose your job and then can’t make the mortgage payments as the house value drops to 50%. I know it is hard to wait but it is the prudent thing to do.
Kind regards"
Gf's dad is telling us not to buy a house right now. He's saying its a buyer's market and that we need to back off and wait,that the house prices are insane presently. I have noticed throughout our shopping that sellers are asking WAY above market value for them.
GF's dad is a moron.
If it's a "buyer's market", that means buyers have the advantage, so you should be a buyer. It's clear that he doesn't understand the terminology, so I wouldn't trust his opinion.
Interest rates are still at all time lows. You should take advantage of that.
Home prices are still lower than they were eight years ago. You should take advantage of that, too....