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re: Every time I passed on a real estate purchase because the price was too high...
Posted on 10/12/23 at 2:26 pm to Big Scrub TX
Posted on 10/12/23 at 2:26 pm to Big Scrub TX
quote:
it's the type of "thinking" that led in part to the housing bubble 15 years ago.
1 bazzallion % wrong. What got us into the housing bubble back then was 0% down, no doc loans made available to literally anyone who asked for it fueling speculation at an unsustainable level. This market is completely different.
1
Posted on 10/12/23 at 2:49 pm to sidewalkside
quote:I said "in part" - and I'm right. The people taking the 0% down, no doc loans were motivated to do so because they were fed a steady diet of "you get the mortgage deduction!" and "real estate never goes down!" and "renting is throwing away your money!" nonsense.
1 bazzallion % wrong. What got us into the housing bubble back then was 0% down, no doc loans made available to literally anyone who asked for it fueling speculation at an unsustainable level.
If you had a realistic idea of real estate, you wouldn't just willy nilly buy properties - even with overly-friendly financing.
quote:Oh, I agree it's different. But that doesn't change the falsity of the statement "renting is almost always throwing your money away".
This market is completely different.
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