Homeownership obsession taken too far?
Real estate brief
By Inman News, Friday, February 6, 2009.With all the bad economic news circulating you might think more people would be wary of buying a house in the current market -- especially in the San Francisco Bay Area where some economists expect prices to drop 20 percent this year.
But what would you do if your wife threatened to divorce you unless you took the plunge and bought a house?
That's the dilemma one man is reportedly facing, according to a blog site: http://iamthrowinginthetowel.blogspot.com/
The unidentified man's wife is reportedly so determined to buy a home -- they've been married and renting for nine years now, according to the blog -- that she has reportedly resorted to extreme tactics in pursuit of a home. The blog author claims his argument that renting in the area is smarter than buying has fallen on deaf ears, and he states in the blog that he reached the breaking point last weekend, launching the blog to chronicle his experiences.
The blog's author airs some very personal details about the matter, and claims he has endured sleepless nights and even physical confrontations.
The blog author states that a marriage counselor who is "well informed on the current outlook for the housing market" and who watched the Dec. 14 "60 Minutes" episode about the next wave of foreclosures will be his only hope in convincing his wife that "there is no reason to rush out and buy a house right now."
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Submitted by Bill Fooks on February 7, 2009 - 4:26am.
Bill Fooks
TFT realty Marketing Service
Warwick, RI http://www.fooksteam.com
Good story. I think the wife is correct.Lets look at some real facts, not the hype the press puts out.
(1)they stopped making land some years ago.
(2)They did not stop producing people,who make kids!
(3)The government is printig money, that will eventually chase assets to produce income from interest earned.
(4)Bad news sells.
(5)You never hear a speeding jet until it is past you. The same can be said about markets. There is always clarity looking back.
(6)Look way back and you will see that this is the time to buy right. Low rates, good prices, abundant supply of something that can't be reproduced.
I wonder who is correct in this case.