Are there too many people on the sidelines waiting to buy???

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Wow now ladera1 that is the most childish comment I have ever seen on the forums. At least now I know what level of intelligence I am dealing with. Good luck with your vanishing "equity".
 
Ladera - OCB has the right to put his/her money where he/she wants. If OCB wants to repurpose his/her profits in RE, fine by me. Even better, he/she did his/her homework. Not following blindly, but making an informed choice based on the information available to him/her at the time.





All my information points to waiting. I could be wrong, or I could be right - and the only people who have to live with the consequences of that decision are me and my spouse.





If you're looking for approval on your decisions, you likely won't find it here. If you thought you would, you might want to brush up on your reading comprehension skills.
 
<p>Marty, if you have read ladera1's past comments from other discussions, you would realize he/she wasn't joking - it was a slam.</p>

<p>Graphrix's response was appropriate.</p>
 
Ladera likes to visit our blog and throw stones when we don't agree with him/her. He/she will be in a loss position within two years, so the schadenfreude will be ours. You heard it first here.
 
<p>Ladera,</p>

<p>I like a good debate as much as the next person (I may like it more than most) so I welcome your presence. I have been trying to look for a blog like this one but that supports the view that real estate has hit bottom and people should buy now (still looking). </p>

<p>What I have a problem with is that you have based most of your post on 1) your own ancedotal experience and 2) unsupported assertions (i.e. your claim that real estate does better than any other type of investments). If you have facts and statstics to contradict my belief that the bottom is at least a year away, please present them. I am not here to get pats on the back or preach to the choir. I am here to try and get views from different people who have different expertises, experiences, and knowledge than I do. </p>

<p>I hope that you continue to post on the blog and present your views. Information and opinions are what I seek from this forum</p>

<p> </p>
 
<p>i think that owning is good. and in this market, renting is not a bad idea either. i think owners who bought pre-2003 are very happy with their purchase and are glad they're not renting right now. as for owners who bought post-2005, some might be hoping that they could be renting instead.</p>

<p>i'm tired of hearing all the renters here cheering that they don't have a senseless mortgage. aren't you aware that there are a lot of owners cheering that they're not renters like you? their net mortgage payment is likely less than your rent?</p>

<p>personnally, i'm glad i never bought because i wouldn't have been able to afford the ongoing costs - any mortgage over 3k/month is a lot for me. but the average mortgage payment in OC is only $2400/month. so... i think most owners are doing just fine. </p>

<p>For me, spending 1k/month per person is perfectly fine. For others, it might be 2k/month per person. So I think you should compare rent and mortgage and determine what payments you are comfortable with; then decide if you want to buy or rent.</p>
 
Gosh, I hate agreeing with Marty. I think I would rather have a sharp stick in the eye. But, I thought Ladera's comment was funny. And yes, it was a slam, but not to bad. I am now enclosing myself in metal chain link fence.
 
<p><em>"...unsupported assertions (i.e. your claim that real estate does better than any other type of investments). If you have facts and statstics to contradict my belief that the bottom is at least a year away, please present them. I am not here to get pats on the back or preach to the choir. I am here to try and get views from different people who have different expertises, experiences, and knowledge than I do"</em></p>

<p>Hello there, </p>

<p>I do not know if you had seen my previous postings to ROO's dilemma, but I suggested to him to buy in 1 year's time. But I have also always said that real estate is a great investment vehicle if youre in it for the long term (<u>never said better than enything else</u>). I never made any claims that I <u>know</u> what the market will do, or that I have evidence that will explain the future. I merely am stating my opinion based on just that, my opinion. Anyone can make calculated guesses to the future, but it all comes down to just that, a guess. Anyway, I will not re-argue my stance again. </p>

<p>I just thought you all would jump down OC Buyers throat for making such a suggestion --to buy now-- But I guess my comment was thought to be childish, and now you are jumping down my throat again. It was said in good fun. I thought I wasnt everyones enemy here, but I guess stating a different opinion here makes me one. Why dont you argue your point with OC Buyer. I want to see how he will respond.</p>

<p><em>"Ladera - OCB has the right to put his/her money where he/she wants. If OCB wants to repurpose his/her profits in RE, fine by me. Even better, he/she did his/her homework. Not following blindly, but making an informed choice based on the information available to him/her at the time. "</em> </p>

<p>huh? did I ever say I did not do my homework? or that I followed blindly? </p>

<p><em>"Ladera likes to visit our blog and throw stones when we don't agree with him/her. He/she will be in a loss position within two years, so the schadenfreude will be ours. You heard it first here. "</em></p>

<p>WHAT?!?! Throw stones?!?! I never put anyone down or said youre stupid for disagreeing... which is how I feel youre all responing now. </p>
 
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hs_teacher I agree with you. It really depends on what payments you are comfortable with and then decide if you want to buy or rent. I will also add that if you decide to buy be prepared to ride out the down market. My father bought his second house on Balboa Island for $125,000 back in the 70's (everyone in my family thought he was crazy) and ended up doing very well with it. He bought another house on the Island in the early 90's and would have lost his shirt on it if he didn't (or wasn't able to) ride that downturn through. In the end he made money on both, but you do have to be patient sometimes. For my wife and I we would not be happy buying right now if we were not moving into a house that we could see ourselves still owning in 8-10 years.
 
Ladera...did you or did you not make this snide comment to Effen when he disagreed with you about buying right now.....

<p><em>"Have fun with your 3 1/2 % taxable savings account. I'm sure that interest will compound at the speed of light".</em></p>

<p>'nuff said.</p>
 
<p>Trooper: LOL</p>

<p>Ladera: </p>

<p>Quote: "<em>If you don't invest in real estate, what is <u>your</u> optimal choice for long term investing?"</em></p>

<p>Correct me if I am wrong but that question implies that real estate is the "optimal" (or best) choice for long term investing. </p>

<p>Of course you are entitled to your opinions and you are welcome to do so. But to me, unsupported opinions carry little or no weight in a debate/discussion. Everyone feels slightly differently based on their experience and views of the world. It is the classic glass half empty/half ful deal. However, to me, the forum is a place where people can put out questions/concerns/topics for discussions and receive educated responses. </p>

<p>I want to take your viewpoints seriously and have a debate with you. I do not want to treat your statements like those coming from the NAR who claims that it is a great time to buy and then screams at Cramer for saying the opposite without any evidence to back up their screams. </p>

<p>I will be disappointed if you choose not to continue to argue your stance. </p>
 
<p>ocbuyer, </p>

<p>the difference now is that the inflation we had is artificial and not realistic. Go look at the informative threads/posts that IR, Zovall and others have created to show the problems with the recent raise in real estate prices.</p>

<p>Yes, microsoft and apple were great investments in the 1980s but that does not mean you need to go and buy pets.com in 2000.</p>
 
I'm all for snark...in fact, I thrive on snarkiness. But I think it will mean the quick death of these forums if they devolve into the kind of cliquish dogpile attacks in defense of 'one of our own'. The quickest way to silence opposing points of view is to have everyone jump on the poster until he's forced to respond to a wave of individuals trying to defend the prevailing mindset. That kind of thing led to bubble blogs being created in the first place; no one wanted to hear that doom was imminent. Let's keep the flame wars from consuming the place, please.
 
<p>Patience is a virtue, unless you are buying a house I guess. If you can purchase the home and put 20% down and do a mortgage with a fixed rate of at least 10 years AND still have plenty cash left over AND can easily afford the payments then go ahead and buy. You'll still be overpaying, but it's your money to blow. As long as there is no risk of you defaulting you should do it.</p>

<p>Just don't be pissed when values go down for the next 3 to five years</p>
 
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