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Would that have been a soggy biscuit?

Uh Ninja.. Mortgage rates are still really low compared to historically. For the last 8 years we've been used to exceptionally low rates which lead to the housing market crisis.
 
When I can pick up a $60,000 house for $15,000, or a $100,000 for $40,000, its a damn good time to buy with a 6.5% interest rate.
 
The lower end housing market really hasn't been hit. Its the high end, risky stuff - even the Jumbo loans that are crashing. Take a look at the low end market and you'll see a lot of that real estate selling. The houses that aren't selling are the ones that are over priced and trying to pay off someone's accured debt.
 
I'll be buying a house shortly for $15,000. Requires about $10,000 in updates and will easily sell for $50,000 on today's market. Its the high end loans that crashed the market where people were buying $700,000 houses on $40,000 a year income.
 
$15,000 on a 20 year with today's rate with your 20% down is $240 a month. That's far cheaper than rent.
 
You're seeing real estate at an all time low we'll never see again. Buy today.. so 10 years from now you won't be saying "I wish I had known to buy real estate 10 years ago." Just as you said with stocks.
 
People aren't making tons of cash but everyone wants to buy. A house sub $100,000 in a medium income city will EASILY sell since the payment is less than that of renting.
 
I'm buying in and I'll take that risk. When I can pick up a house for the price of a used car, you'd be a fool to not buy in today.

Beats what he usually yanks.

 
Great. I can pick one up too. They usually fit nicely in the back of a pickup.

BTW, say hi to Fannie, Freddy and Indie for me!

That's why you go with different lenders than the government backed ones.
Plenty of banks out there didn't go the route of poor lending and have the money for smart investors.
 
Yeah, the house I'm looking at is sub 1000 sq ft, 2 bedrooms. But its also right next to a brand new and quality elementary school. First time home buyers would go for that and especially single parents. I haven't even signed anything yet and I already have 3 people ready. 1 to buy once I finish updating it and 2 people who want to rent from me. I'm not looking to getting into renting.
 
Besides that, I'm approved for a loan with no issues on it since I'm putting down the 20% on it.
 
10 years from now you'll wish you had bought property. Its a way to make quick money.. people are still buying houses. They're not buying the $500,000 houses anymore.
 
Edit:
 
My rates:
 
6.75% for the 30 year fixed and 5.00% on 15 year home equity. That's pretty much on par with a new car loan.

£7500.00 and you need to take a twenty year loan loan out for it? You fcuking peasant. AV could probably raise that selling his g@y bike.
 
No, but seriously. YOU FCUKING PEASANT.

Yep. Don't give them your money before you need to. Its a 20 year fixed even though I wrote 30. The bank I'm using doesn't offer anything else on a fixed rate plan. I don't plan on keeping the place for longer than a year at best.. so why give them my cash when I can finance it and have it paid off in short order?
 
I prefer to keep my money and not give it away.

 
OK, I'll have another attempt....
 
Let's say you live away from your family. One day you hear that a group of armed men marched into the family's town and dragged them all out of their homes. Your mother, your father, aunts, uncles, brothers, sisters, grandparents... the lot. However, any girls deemed suitable are dragged off to be turned into slaves for the thugs to rape and abuse time and time again. Their fate is much much worse
 
The remaining members of your family are then marched to a drainage ditch and made to stand in a line. Everyone, man woman and child is then gunned down. Their bodies are then torched and left to rot in a stinking ditch, with just a few shovels of earth thrown over them, no real attempt made to hide what had happened.
 
So basically, you discover that 95% of your family has been butchered and the remainder entered into a life whereby they only wish they could have such a quick death. Everyone, wiped out or waiting to be wiped out. all because of their  
 
Are you telling me that you would then feel nothing? Come on....

I think he would feel relieved he forgot to mail those Christmas gifts.

If you could arrange that for the whole of gingerdom I'd feel, well, ecstatic.
 
Sorry, I admire your tenacity with the fool, but I've given up on it.

i can't actually imagine that.  i suppose i would want justice done but i cannot actually imagine that sort of situation.  
 
even then, when i say compassion i mean for strangers not just because i wouldn't want to be in their situation but genuine feeling of sympathy for them because of the situation they are in.  
 
know what i mean.

 
had to laugh at that although i don't do christmas so wouldn't matter to me, come to think of it i don't do celebrations full stop.

Wow, your life sucks as bad another person on here who lives on the east coast.

Aharrr, I see the problem you have, you're a miserable b@stard.

i am scottish.

Whilst I'll not comment on the rest of the debate I'll stick up for SS on the crimbo front. Bag of sh!te if you ask me. I've not done crimbo for about 3 years now and can't say I miss it in the slightest. I'm actually pissed off that I have to take 4 days of my holiday allowance as the company closes for the week. I'd far rather work it and take the time when I want.

You're a miserable b@stard too. Christmas day is fantastic, all nice and quiet for me to get over the hangover.

It's family time and for various personal reasons I have a hard time being around mine. I'd rather leave them to have their fun and just chillout for the day. The one and only time I've smoked in this house was crimbo day.

***makes note to call chimp on Christmas day***