Home prices at 1990s levels? Never gonna happen

Re: 'Owning home not always better than renting' (June 12)

Dear Editor:

I think it is important people view purchasing a home as a long-term investment and not one of short term, as has been the case in the last several years. While people purchasing homes may be low now, keep in mind that even with home values on the decline you will never be able to purchase a home for the price people spent for one in the 1970s, '80s or even '90s.

Another benefit to purchasing a home is that if you're smart enough to get a fixed mortgage your payments will essentially never increase, while typically your income will over the course of a typical 30-year note. On a final note, I can guarantee over the course of 30 years your rent will increase. In my humble opinion, if an individual or family has the intention to live in a specific area for at least five years or more then purchasing a home should be a serious consideration.

P.S. I am not a Realtor or work in that industry -- just someone who has been on both sides of the fence.

Leon Schopp
Homeowner
Moorpark, Calif.

Re: 'Lawsuit challenges real estate auctions' (June 17)

Dear Editor:

What these companies have done is illegal under my interpretation of an auction contract; when I sell a piece of antique furniture with a reserve (which is rare) and it doesn't bring the reserve price, then it doesn't sell and I don't say "sold." Once an auctioneer says sold, then a contract is formed between the seller (auctioneer as agent to the consigner) and the buyer (the successful bidder). The items was purchased at the time the auctioneer said sold, and the buyer owns it at that price.

John Bakitis
John B. Auctions
Canal Winchester, Ohio

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