Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: RexTheRunt

When I read these articles I am thankful I live in an area that has seen ordinary appreciation in housing prices over the past 5-6 years. It has kept the speculators and flippers out of the market.


68 posted on 04/20/2007 8:02:55 AM PDT by babaloo
[ Post Reply | Private Reply | To 1 | View Replies ]


To: babaloo
When I read these articles I am thankful I live in an area that has seen ordinary appreciation in housing prices over the past 5-6 years. It has kept the speculators and flippers out of the market.

You should be thankful! A personal residence (much to the surprise of the majority of owners today it seems) is NOT a piggy bank to consistently tap for "I wanna" reasons! While homes typically increase in value over time (assuming they are in a good location), much of the gain is illusory since it merely reflects inflation. Unless you are prepared to sell and move from high priced location X to low priced location Y, a personal residence represents economic security/stability and not an "investment"...

I have a number of neighbors who are discovering this fact now (and their numbers are increasing)...

70 posted on 04/20/2007 8:16:55 AM PDT by ExSES (the "bottom-line")
[ Post Reply | Private Reply | To 68 | View Replies ]

To: babaloo
I live in an area with reasonable appreciation too, and it's nice not to have to bid against flippers when looking for a place to live.

But even in that sort of community, we are going to see many stories of people who "cashed" out their equity to buy cars, vacations, etc.

They are getting stung for their stupidity when the rates reset just as the speculators are.

80 posted on 04/20/2007 8:38:45 AM PDT by RexTheRunt (The MSM says "Jump, Republican pigs!" and the GOP tugs its forelock and grabs air.)
[ Post Reply | Private Reply | To 68 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson