Quote:
Originally Posted by RalliartRsX
So here is a question for all the folks "holding out"
The issue I have with that very model is housing is essentially a investment. Also, when the market crashes, who is to say everyone who has a job right now will have one going into the crash?? Also, who is to say the market is going to crash?? Also, when renting, your money is essentially going into a black hole. Remember, you do not see a dime of ROI if you rent any property (read: this comment is not to be construed as an insult to anyone who currently rents. I rented up until 3 years ago).
The prior statements are just a taste of the questions the wife and I discussed prior to jumping in head first. And ofcourse, considering our location and careers, this wouldn't apply to everyone, but the general idea remains however. The statements are especially relevant in a major metropolitan area who's major employer is the Government. Such markets were minimally affected by 08 crash .
California in general is very similar in makeup.
Just my 0.02c
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I have 2 reasons really.
1. California is inflated like crazy right now. Single family homes I can still see staying expensive but my fiancee and I want a nice townhome with a driveway and 2 car and those are still pretty overpriced.
2. With how much the middle class is getting fucked over in california I dont even know if im going to be staying here. Ive applied for jobs outside of the state so for someone like me my future is very much in the air.
https://www.calculatedriskblog.com/2...-mortgage.html
^ Uh oh...
I brought up the calculated risk blog to my realtor and she downplayed the whole thing citing that "oh people dont really buy towards the holiday season and of course people wont pay their mortgates in disaster areas"
Of course someone who makes their money from real estate would downplay it even though its backed by evidence.