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Anyone think the market will rebound soon?

DallasApple

DallasApple

Depends Upon My Mood..
Alceste said:
A wise move, I'd say. Best to keep your expenses to a minimum for the next few years - and put in a vegetable garden, if you haven't already! :)
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Thanks..see we "had"( I dont know now because I dont want to look)..about 80,000 in "equtiy in the house we live in now based on the "value" of the home.After (at the time) 18 years of payments and a "rise' in value.The property value did go "up" in those years.But we bought in the 80's.We "refinanced" and lowered our interest rate to 6%.Our payment is 750..(dollars) a month for a 4 bedroom 1800 sg ft house in the burbs of Dallas.(not a bad deal).

My huysband is like...LETS get a BIGGER house..My mother is "ya'll need a BIGGER house with a POOL"..

I looked into it..We qualified...for a house..almost double this size..with a pool..All 80,000 in equity..our payment (which we could "afford") Would double.Not to mention here in Texas..the bigger the house..the higher for air conditioning..(tac on another 300 a month ).SO we would be paying 1800 a month instead of 750.For what?Not only that..Its those houses in that range of price that are the ones "losing value".So we could have bought the house for say 240 thousand..That house today would be worth 180 thousand.We would be strapped down with higher house payment..house not worth what we paid for it.BAD investment.Because you know what? We couldnt even afford to go to the movies.or buy a pair of shoes in the meantime.

I am wondering if NOW...Tee hee..with house values dropping so..If you have the dough..to buy it up.

Love

Dallas
 
Alceste

Alceste

Vagabond
DallasApple said:
Thanks..see we "had"( I dont know now because I dont want to look)..about 80,000 in "equtiy in the house we live in now based on the "value" of the home.After (at the time) 18 years of payments and a "rise' in value.The property value did go "up" in those years.But we bought in the 80's.We "refinanced" and lowered our interest rate to 6%.Our payment is 750..(dollars) a month for a 4 bedroom 1800 sg ft house in the burbs of Dallas.(not a bad deal).

I am wondering if NOW...Tee hee..with house values dropping so..If you have the dough..to buy it up.

Love

Dallas
Click to expand...

Well done, hon. You're in good shape. If that's when you bought you'll be one of the lucky few whose house will be worth more than what you paid for it when the markets stabilize. And dang, you can't even rent for $750 any more. Way to fend off yer ma.
 
DallasApple

DallasApple

Depends Upon My Mood..
Alceste said:
Well done, hon. You're in good shape. If that's when you bought you'll be one of the lucky few whose house will be worth more than what you paid for it when the markets stabilize. And dang, you can't even rent for $750 any more. Way to fend off yer ma.
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We bought in 87..I was 19..(tee hee)..My son rents a a one bedroom apartment(500 sq ft) 10 minutes from here for 525.(dollars) a month.(on the 3rd floor with a view of the parking lot).

At least we have a yard..

And you ..thank you..you are right..I'm glad I didnt listen to Mama.(even though she is the one that convinced me to buy a house instead of rent all those years ago when I was a child)

I feel more secure than many..We ..somehow can come up with 750 a month I think.So far we have..(of course) but if things get really bad..I know the two of us can make enough to at least keep this roof over our heads...(pray a tornatic wind does not rip it off of course.).

Love

Dallas
 
Sunstone

Sunstone

De Diablo Del Fora
Premium Member
As I understand it, the market cannot be expected to rebound that much until the housing bubble is completely deflated. Also, as of early last month, the housing bubble was only about half deflated. But my understanding about all that might be a bit addled by the massive quantities of tequila I've ingested this evening.
 
Mr.Advocate

Mr.Advocate

Member
As a retired stock broker, I find it amusing that folks are so emotional about the market. There is more than one way to skin a cat.

Have a read of "Reminiscences of a Stock Operator" by Edwin Lefevre. One of the greatest accumulations of wealth in the USA was by shorting the "great depression".

Investing intelligently is not a matter of prediction, it's all in what you do with what you've got. You can be wrong 90% of the time with your predictions and still make money.

If you want my opinion on the current situation though, (as if it matters), the USA is in for some serious hard times. The current budget is ludicrous, and the fate of the nation is in the hands of the bond holders (mostly China, Japan, Canada, and Saudi Arabia). They are printing money left and right to keep China from dumping bonds, and this strategy never, I repeat, never works.

It won't be long before Americans are hiring coyotes to smuggle them into Mexico where they will land jobs as the most pompous gardeners and housekeepers on planet earth.

God bless George Bush.
 
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