Comments on: Newsflash: Stating the Obvious (Maybe I shouldn’t read MarketWatch) http://kaiyen.com/blog/2009/01/07/newsflash-stating-the-obvious-maybe-i-shouldnt-read-marketwatch/ Why have 10 blogs on specific topics when you can have just 1 with all kinds of random topics? Thu, 12 Jan 2012 05:17:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: blog of kaiyen » re: http://kaiyen.com/blog/2009/01/07/newsflash-stating-the-obvious-maybe-i-shouldnt-read-marketwatch/comment-page-1/#comment-354 blog of kaiyen » re: Thu, 08 Jan 2009 05:10:22 +0000 http://kaiyen.com/blog/2009/01/07/newsflash-stating-the-obvious-maybe-i-shouldnt-read-marketwatch/#comment-354 [...] Schinker posted a comment in response to another post of mine that has me wanting to write a bit more… I always take what the “experts” say with a [...] [...] Schinker posted a comment in response to another post of mine that has me wanting to write a bit more… I always take what the “experts” say with a [...]

]]> By: Debbie http://kaiyen.com/blog/2009/01/07/newsflash-stating-the-obvious-maybe-i-shouldnt-read-marketwatch/comment-page-1/#comment-352 Debbie Thu, 08 Jan 2009 00:15:09 +0000 http://kaiyen.com/blog/2009/01/07/newsflash-stating-the-obvious-maybe-i-shouldnt-read-marketwatch/#comment-352 I always take what the "experts" say with a grain of salt. Expert analysis lags real life - they wait for the numbers to "confirm" what the rest of the world - literally - already knew: we are in a bad recession. You and I and everyone else on the street knew this at least 6 months ago. The prices were going up, people were losing jobs, and belt tightening was necessary for nearly everyone. But the "experts" refused to use the word recession. But the flip side will also be true. The recovery will be happening while "they" still think we are in a recession. So is it a good time to buy a house? If you can get a mortgage approved, yes! Mortgage companies are looking for solid loans to boost their bottom lines, so SOME people are in higher demand for loans. If you aren't staying in a house for 5 to 7 years, you don't need a house - that's been a long-standing rule of thumb, nothing new. If you lose your job or think you will - and you don't already have a house - don't buy one! Again, not rocket science here. Actually, most of this recession was caused by people accepting the "too good to be true" lines they were fed at face value. I actually blogged about this back in September of 2007. (http://12amusings.wordpress.com/2007/09/01/sub-prime-surprise/) What? I can get a home with no money down and only a few hundred dollars a month (interest only loan)? Wow! Sounds too good to be true!! I always take what the “experts” say with a grain of salt. Expert analysis lags real life – they wait for the numbers to “confirm” what the rest of the world – literally – already knew: we are in a bad recession. You and I and everyone else on the street knew this at least 6 months ago. The prices were going up, people were losing jobs, and belt tightening was necessary for nearly everyone. But the “experts” refused to use the word recession.

But the flip side will also be true. The recovery will be happening while “they” still think we are in a recession. So is it a good time to buy a house? If you can get a mortgage approved, yes! Mortgage companies are looking for solid loans to boost their bottom lines, so SOME people are in higher demand for loans. If you aren’t staying in a house for 5 to 7 years, you don’t need a house – that’s been a long-standing rule of thumb, nothing new. If you lose your job or think you will – and you don’t already have a house – don’t buy one! Again, not rocket science here.

Actually, most of this recession was caused by people accepting the “too good to be true” lines they were fed at face value. I actually blogged about this back in September of 2007. (http://12amusings.wordpress.com/2007/09/01/sub-prime-surprise/) What? I can get a home with no money down and only a few hundred dollars a month (interest only loan)? Wow! Sounds too good to be true!!

]]>