Saturday, November 19, 2005

Cheerleading Quote of the Week

Marilynn Ferreira, who sits on the Board of Directors for the San Benito County Association of Realtors had this to say about buying a house now:

People who are waiting for prices to fall will miss it, and interest rates are just going to go up. But putting a roof over your family’s head is always the best investment you can possibly make.
Always? What if your income is 40K, you have no down payment, and some sub prime lender offers you a loan for 350K and you are buying in a bubble mecca. Oh, by the way there are other ways to put "a roof over your family’s head," its called RENTING.

3 comments:

  1. If interest rates go up, prices will be even more likely to fall.

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  2. After owning all my life, I never dreamed I'd be happy renting instead. Turns out that I am and my cashout equity is paying more than half the rent. In the (impossible) event that Ms. Cheerleader were right, it would make me even happier to be renting because I would seem to be getting ever more bang for my buck.

    Bet she isn't sticking her neck out with a prediction for matching increases in rents.

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  3. In her little story, the person would have been best off buying in 1995 for 600K!!!

    ReplyDelete