Trying to be buying
November 13th, 2005 | by jg3 |my excitement shifts to nervousness after reading things like this in the washingtonpost.com:
“I’m an economist and I’m worried… In my opinion, anybody that buys now is a fool.”
“The carnival of wealth that we are seeing in the Washington area will eventually end. … Many economists believe that there is no bubble in housing market … That is wrong.”
…or even this:
“Anyone who decided back in 2001 to wait out an expected fall in home prices would have missed out on several years of sharp growth. There’s no way to be confident, even now in 2005, that a crash is around the corner.”
….and of course, these articles:
Housing Market Cooling, Data Say
Surviving the Housing Market Shift
…where there is pressure from the other side:
“Rates are still close to historic lows; I don’t think they will stay this way for much longer.”
…but in the end:
“Take a deep breath. Try not to worry. You can drive yourself crazy worrying about what might happen with prices. You’re pretty much committed to the place you are now if houses are selling for less than your purchase price. So try to make the best of it. It’s almost impossible to predict what might happen in the future, but the economy here is good and over time, sometimes over a fairly longish time, real estate has always appreciated”
So, after the recommended deep breath, I think I am ready to come to a decision. Always preferring to be a person of action rather than inaction, and not silly enough to fall for an intrest only loan, I think I want to make a serious target on one of the [street name deleted] properties.
Filed under: House
Sorry, comments for this entry are closed at this time.