so i've been pre-occupied with real estate lately - seems like everyone around me is buying a house, doing the smart thing, no longer throwing their money away on rent. but oh my goodness the housing prices are ridiculous! so i have a new plan: wait until the housing market tanks, and THEN buy. good plan, eh? okay, maybe not :) but it's a nice thought for me as a lowly renter!
today, it is finally friday. it's been a long time coming. 5-day weeks are a little rough after a leisurely 4-day week like last week. the new river network dealy turned out to be a great time- glorified keg party really (with better food!). great turn out, met some fun and interesting people that actually live in blacksburg, as opposed to just passing through our lovely mountains for a bit of education.
5 comments:
did the new river network have good beer also? I hear ya about buying a house. Just moved into my house and it was definitely an adventure but well worht it in my opinion.
nah it was bud light- but cheap! so no complaints here!
For what it's worth, there's a lot of economic science out there right now saying that the housing market is so inflated that for the first time in decades it is actually economically beneficial to continue renting. I don't fully understand why, except that it has something to do with the initial costs of buying a house balanced against the fact taht the market cannot continue to appreciate at the current rate.
That's my economics lesson for the day. Hope you're well :-)
good to know! makes me feel better about renting for at least one more year... ;)
I realized a few weeks ago that I spend way too much time working on the house or the yard... that's the nice thing about renting: you don't give a crap about any of that stuff, so aside from mowing the grass when it gets to be 2 feet tall, you have more time for the fun things in life. Can't put a price on that, right?!
I had an officemate at IBM who pulled his money out of the market in 1998 when the market hit 8600... he said it was inflated. He was right, but his timing was way off. Wife and I met with a realtor in OBX in 2001 to buy beach property... she advised against it because we'd seen 30% growth the last 2 years running! 4 years and 150% later...
So the moral of the story is not to sweat the timing of these things... Invest in stocks on a regular basis. Buy a house when you're good and ready - just make sure to make a smart move in the market you're in.
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