Finally, we have a contract on a house again!

[Jarod]

We have been renting for 1.5 years now, we finally found a house we like at a fair price, negotiations are done, we have a contract....


Can we close in three weeks like my broker says??? We shall see!

 

[Topspin]

congrats your buying at a good time.
Taking a quote from Jim Rome.
"Hope the how much did it cost guy doesn't show up".

 

[Damocles]

Excellent.

 

[Thorn]

Fantastic, Jarod! Congrats and good luck.

 

[Jarod]

This house was once sold for 650,000. We are getting it for 410,000.

 

[DamnYankee]

This house was once sold for 650,000. We are getting it for 410,000.

Looks like your local market was severely overinflated.

 

[TuTu Monroe]

Actually, I am happy to see home prices go down. There was a time that once a home hit the market, it was sold. It was a wild time and the prices just kept going up and up. We had cracker-box homes going for $300,000, which was ridiculous, yet people kept buying them. This was coming and anyone who had an ounce of common sense should have seen it.

Looks like your local market was severely overinflated.

 

[Whomever]

The home market just went down to where it should have been.
Pretty much the same with the stock market.

Sustainable real growth is the key, and we will not get that with a consumer based economy.

 

[Cancel 2018. 3]

This house was once sold for 650,000. We are getting it for 410,000.

why are you not giving the sellers 650K? if they bought it for 650K and then as you claim bush ruined the economy, why are you furthering their anguish? why not pay them the 650K they paid for it? that is fair, that is just. come on you heartless republican who only cares about your money.....

 

[TuTu Monroe]

I'm not trying to be mean, but the chances are it is still over-inflated

Looks like your local market was severely overinflated.

 

[DamnYankee]

I'm not trying to be mean, but the chances are it is still over-inflated

Perhaps, but many are predicting hyperinflation, which will increase home prices hugely.

 

[Jarod]

We shall see.... Inspection tomorrow.

 

[TuTu Monroe]

God help us.

Perhaps, but many are predicting hyperinflation, which will increase home prices hugely.

 

[DamnYankee]

God help us.

It will be worse than Carter for many reasons.

 

[Jarod]

If that happens I certantly want to own a house at 5.48% fixed.

 

[DamnYankee]

If that happens I certantly want to own a house at 5.48% fixed.

Interest rates at the tail end of the Carter years were in the 18% range. I'm locked in at 4.25 and ain't moving.

 

[Jarod]

Interest rates at the tail end of the Carter years were in the 18% range. I'm locked in at 4.25 and ain't moving.

If that happens Ill be locked in myself and sitting pretty....

 

[DamnYankee]

If that happens Ill be locked in myself and sitting pretty....

Better do it now, the quite before the storm, then buckle your seat belt for at least 8 or ten years.

 

[Jarod]

Better do it now, the quite before the storm, then buckle your seat belt for at least 8 or ten years.

I expect and hope you are wrong. But I am sure the rates will go up somewhat. They have to, they cant stay this low forever. I just hope and belive it will not be 18%.

 

[DamnYankee]

I expect and hope you are wrong. But I am sure the rates will go up somewhat. They have to, they cant stay this low forever. I just hope and belive it will not be 18%.

Hope and change, hope and believe, but nearly all economists are predicting high inflation since Obamanomics is printing all that money. Once the US loses its AAA bond rating and the Chinese balk at borrowing you'll be able to wallpaper your new living room with dollar bills.