Refuse to buy overpriced

7 Comments

    • Why the Housing Bill Won't Help the Housing Market [view article]
      There is a severe UNDERSUPPLY of affordable housing.

      Want to become very wealthy? Build the next Levitt-town.

      Want to destroy America? Bring in hordes of foreigners in an attempt to prop up prices at their current ludicrously high level.       Jul 30 12:59 AM
    • Why the Housing Bill Won't Help the Housing Market [view article]
      Houses are empty, but meanwhile people in their late 20s/early 30s making $50K - $100K/year are living with their parents because they can't afford to buy at todays prices.

      The problem is not oversupply - there are plenty of people to would love to occupy those vacant houses.

      The problem is delusional sellers who refuse to lower their prices.
      Jul 30 12:52 AM
    • Roubini Now Says House Prices to Fall 30% [view article]
      Hey Mavericks,

      Between July 2005 and June 2006, 50% of all home sales were no money down. Average down payment durng the same time period was 2%!

      Unlike other banks, ING has only had 15 foreclosures since 2000, because they insist on substantial down payments.

      No down payment is the #1 reason for this mess. No one should be allowed to purchase a home without at least 5% down, and pay their own closing costs.       Apr 09 05:58 PM
    • The Credit Bubble: Deregulation Gone Wild [view article]
      "Put a floor under the housing market" . . . That plan has a flaw. When future first time homebuyers realize that the government is trying to fix prices close to the inflation adjusted all-time high, they will be VERY ANGRY.

      Watch for a buyers strike that will bring the economy to its knees. I make 80K/year, I have 110K in savings, and a credit score of 780. I was considering buying a house, until Congress began talking about a price fix. Now I absolutely refuse to buyor even rent. I will live in a tent in the woods and save my money until Congress abadons its attempt at a price fix. Its the principal. Millions for defense, not one penny in tribute!       Apr 08 09:18 PM
    • Ben Bernanke's Tightrope Act [view article]
      That was a response to Brad Delong Mar 03 08:03 PM
    • Ben Bernanke's Tightrope Act [view article]
      "Print enough money and the problem goes away" . . . and so does the value of my savings account. I was smart enough to refuse to buy an overpriced house, and I was responsible enough to save towards a 20% down payment. The bankers were not smart enough or responsible enough to demand down payments and proof of income before lending money to buy thousands of overpriced houses. I should not have to pay for their mistake. If you resort to inflation to maintain housing prices at their current artificially high level, you will be guilty of a crime against me and everyone else who prudently saved and waited for the housing mania to pass. Mar 03 08:01 PM
    • We Need a Home Price Decline Moratorium Plan [view article]
      There needs to be a pressure group called "Future Home Buyers of America" to pressure politicians to stop intervening in the economy to prop up house prices at ridicoulously high levels.
      Raise interest rates to a normal level, do not use tax payer dollars to keep Mr. No-downpayment-lied-to... in his McMansion.
      I would rather live in a tent the rest of my life than buy a house at current prices.       Feb 27 07:20 PM
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