6 Responses to “Real Estate – Quote of the day” »»

1. HappyHomeOwner For30Years
   Comment by HappyHomeOwner For30Years | 10/12/08 at 11:38 am

   But only if one doesn’t pay too much and doesn’t have to move in a down market. And don’t forget all those repair bills.

2. Mark
   Comment by Mark | 10/12/08 at 6:34 pm

   Suze also says:

   “Divorce your husband and get half.”

   haha

3. Mark
   Comment by Mark | 10/12/08 at 11:31 pm

   Okay John. I can be fair and also bring up something that would be viewed as “in your favor” and is a legitimate concern, I believe, for buyers out there. What happens when credit becomes expensive again? It will happen. It always does after a RE bust. For the past 10-15 years or so it has been relatively easy to get single digit interest rates on mortgages with 0 – 5 percent down. As many buyers are likely seeing now, first time home buyer programs at local banks have gone out the window. Even the FHA is requiring 5-10% down for a loan. So, it stands to reason that there are many people out there who will miss out on the current 6% interest rates waiting for prices to drop when it wont really matter if their mortgage has a rate between 10 and 14%. Don’t believe they can get that high youngsters? Go ask your parents what their interest rates looked like in the early 80’s.

   Here is an article voicing similar, legitimate concerns:
   http://biz.yahoo.com/ap/081012/end_of_easy_credit.html

   See, I can be fair too.

   Also, those stats you listed were like 50-60% Dorchester, Roslindale, and Jamaica Plain sales and listings or condos under 450 square feet. I, and many of your readers, aren’t looking for homes like those so it really doesn’t make sense to tell us “Boston condo sales are strong” when your numbers include sales of bank owned properties at giveaway prices in Boston’s version of a war zone. Nor do I believe that you actually represent many buyers looking for or buying dilapidated properties in those areas.

   MB

4. Mark
   Comment by Mark | 10/12/08 at 11:39 pm

   Ugh. Sorry John. I wrote a long post about an article that I found. I was actually throwing you a bone for once. It voices concerns about the lack of credit in current and future markets and how that impacts interest rates. Anyway, your site doesn’t let me post links so it erased the whole thing.

   Everyone else, go to Yahoo Finance and look up “Is the era of easy credit over for the long haul?”

   It voices legit concerns about interest rates going up so the price drops that you may be waiting for will be for naught if your rate is 10-15% (like the 80’s). Read for yourself.

   MB

5. John Keith
   Comment by John Keith | 10/12/08 at 11:48 pm

   Like this? Boston Real Estate Blog

6. confused
   Comment by confused | 10/13/08 at 7:27 am

   I agree with Suze. But one has to own it, not rent the money from the bank to live in it. I really wish that an effort was made to distinguish between people who actually own a home and people who are paying one off. Everybody who is in default on a subprime loan is not a home owner.

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