4SlicesofCheese at VREAA 29 January 2011 at 12:59 am–
“My father tells me buy now price does not matter.
If you don’t like the place move in 2-3 years and it will be worth 60-70k more.
If you cannot pay the mortgage just sell it and buy a cheaper place with the money you made from selling it.
He is not only giving me advice he actually wants to give me 200k for downpayment, even with that and my own I would still not even consider it.
Everytime I visit my parents, first thing he asks me is have I looked at any new houses. I just have to say “Yeah I am going to an open house this weekend”. I tried once to tell him I think there’s a bubble, that did not go well haha I will just stick to my “Yeah I am going to an open house this weekend”
He has been infected with this way of thinking from MSM and friends. Meanwhile not listening to anything his family says, including a nephew that works at Goldman Sachs who called the bubble in the states years ago and says the same thing is going on here now.
Hard to blame him as he has seen his house triple in value in 15 years, he is a simple hard working man, somehow always lucky with real estate.
At the same time a few of my aunts have lost ALOT of money in the past investing but that does not seem to take that into account.”