NamePros.Com - View Single Post - Finally: the Housing BUBBLE is going to crash....WORLDWIDE

Having lived in various parts of the USA and other countries around the globe, i can 100% attest to the fact that the economy and subsequently the housing prices are on the decline - nothing new i'm reporting here, though.
Interestingly enough, it seems to depend on where you're going within the USA.
Having lived in Las Vegas for a while, many of my friends that bought a place within the past years, are now having to tough it out since the LV bubble has bust. At the rate that buildings were erected, it's no wonder that LV was pushing the limits.
Fargo on the other hand, while often belittled, is part of the technology corridor; MSFT is building a new campus addition to the already second biggest campus behind Redmond, Alien Technology, Bobcat, etc. are all here, house prices have declined a little, but are now leveled.
While we have an abundance of apartment buildings at reasonable rental rates, the opportunity to get into the housing market and buying a place is NOW. It's a buyers market, there's no doubt about it.
Look throughout history; real estate as well as the financial market are behaving in cycles. Currently, we're on a downward spiral - interesting side effect - after recovering from any crash, the next "high" on the scale is higher than the maximum after the last recovery.
Hard data to validate this is floating around all over the place.
Point in case; i just signed the paperwork to buy a house yesterday, closing date will be next month. After everything is said and done, i'll end up with 10k instant equity. That's practically 10k in my pocket - not today and probably not tomorrow. But, by the time that we're back on the "high" side, i'm going to have the 10k instant equity PLUS the appreciation that accumulates during the next upward trend. Carefully evaluated, that should be 10k + 3.5% of the home's value annually. In the intermediate or long run, this makes a lot of sense.
Lorenzo: my tip to you. look for a place that matches your vision and finances and strive for a smart deal. then sit on it and wait it out. chances are that the market is not going to fall much lower. every decline has a bottom and i think we're just about there.
Even if the market were to fall a little more, chances are that the time and money you spend waiting is unequal to the decline in value.
Meaning: every month that you pay on rent would have to equal the deteriorating value of a home you want to buy. Chances are that a house is not going to loose $800 (or whatever you pay on rent) per month.

just my .2 cents

M.

07-10-2008, 12:24 PM	· #30
Mike www.IntelBank.com Name: Mike Location: www.intelbank.com Trader Rating: (38) Join Date: May 2005 Posts: 4,682 NP$: 43991.61 (Donate)	Having lived in various parts of the USA and other countries around the globe, i can 100% attest to the fact that the economy and subsequently the housing prices are on the decline - nothing new i'm reporting here, though. Interestingly enough, it seems to depend on where you're going within the USA. Having lived in Las Vegas for a while, many of my friends that bought a place within the past years, are now having to tough it out since the LV bubble has bust. At the rate that buildings were erected, it's no wonder that LV was pushing the limits. Fargo on the other hand, while often belittled, is part of the technology corridor; MSFT is building a new campus addition to the already second biggest campus behind Redmond, Alien Technology, Bobcat, etc. are all here, house prices have declined a little, but are now leveled. While we have an abundance of apartment buildings at reasonable rental rates, the opportunity to get into the housing market and buying a place is NOW. It's a buyers market, there's no doubt about it. Look throughout history; real estate as well as the financial market are behaving in cycles. Currently, we're on a downward spiral - interesting side effect - after recovering from any crash, the next "high" on the scale is higher than the maximum after the last recovery. Hard data to validate this is floating around all over the place. Point in case; i just signed the paperwork to buy a house yesterday, closing date will be next month. After everything is said and done, i'll end up with 10k instant equity. That's practically 10k in my pocket - not today and probably not tomorrow. But, by the time that we're back on the "high" side, i'm going to have the 10k instant equity PLUS the appreciation that accumulates during the next upward trend. Carefully evaluated, that should be 10k + 3.5% of the home's value annually. In the intermediate or long run, this makes a lot of sense. Lorenzo: my tip to you. look for a place that matches your vision and finances and strive for a smart deal. then sit on it and wait it out. chances are that the market is not going to fall much lower. every decline has a bottom and i think we're just about there. Even if the market were to fall a little more, chances are that the time and money you spend waiting is unequal to the decline in value. Meaning: every month that you pay on rent would have to equal the deteriorating value of a home you want to buy. Chances are that a house is not going to loose $800 (or whatever you pay on rent) per month. just my .2 cents M. Please register or log-in into NamePros to hide ads __________________ Check my Sales Thread on NP tons of LLLL.com/LLL.us/KeyWord domains on sale! Selling LLL.in Domains & {Keyword}.in Domains! Your Business & Your Money $$$ IntelBank.com \|\| American Pilot Center Learning to Fly - Check it out today!