If he told you housing was going to go up up and up then he is right. So will gas and food. The signs are pointing to severe inflation.
I'm telling you for your own good, buy property if you can afford it now. If you don't you will watch your cash savings become worthless and you won't be able to do anything about it.
Quoting: Anonymous Coward 25867801 This is true, but never put yourself in a bad position, your house payment with taxes and utilities should never be more than ¼ of your income. Our current house payment will look like nothing compared to what they and rent prices will be in the next ten years as we inflate our way out of debt.
Realtors do not have bosses, no one pays them anything so if they drive you around for 2 weeks looking to buy a house and you do not buy that is money out of their pocket. This is why they get mad and freak out, not uncommon to spend a grand in gas a week and not sell a house. Sometimes going 2 or 3 months without a paycheck spending that much a week in gas + monthly fees and advertising it is easily 5 grand a month just to run the business even when you do not sell a thing.
No excuse for the guy to be an ass though ever, just fire him and move on. I deal with these people daily, good news is a lot of the bad ones are dropping out of the industry because they can’t cut it and the good ones are doing good. I’d say right now @80% of realtors suck at what they do, they try to work part time and are going broke.
The government plans on inflating our way out of this debt issue, as our dollar becomes devalued they will cry “look what we did for housing prices you house is now worth more than in the housing boom” but the truth will be the dollar is just worth that much less.
Never take on a car payment either, you will pay more money on cars and upkeep than anything in your life, all down the drain.
Here are some real numbers to think about, average house price 1970 $23,000 and the average house payment in 1970 $125 bucks @7% intrest.
By 1980 average house price was $56,000 and the average house payment was $621 at @15% intrest, this is happening right now again by design.Buy now because the next generation of house payment will make our current house payment look like nothing.
Right now they are giving money away, our current interest rates will most likely be below the future inflation rate. Meaning your payment would be cheaper and cheaper each year relative to the inflation rate.
We most likely will end up with sky rocking interest rates in the next 5 years going back to the 1980’s levels when 18% interest was not uncommon.
Right now you can get a loan at @3.3% that is basically free money.
