Do you think it's a bad idea to buy a house at this time?

Trader Curt said:
Yes, didn't I already say the market went down in 2008? You did read my post right?

Unemployment was down over 10% with Obama, with high gas prices and overly priced healthcare and raised payroll taxes. I don't know what world your living in, but the economy even under him was horrible. Obama held back a lot of what could have been an even greater economy. And of course the economy picked up at the end of his term because he was leaving. I mean, I would start buying too if someone like him were about to leave the office. Tell me something I don't already know ...
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You aren't making a bit of sense here my friend. You expressed concern about buying a house now saying "I want to buy my first house but I think with Biden having a good chance to ruin the economy the same way Obama did there is a big chance the market will go down, the same way it did in 2008."
You clearly seem to believe Biden will cause house prices to come down, it's exactly what you said. And you appear to believe this because you seem to be under the mistaken impression that house prices went down when Obama was President, which was simply not the case.

I get you have a compulsion you appear to have difficulty controlling to overlay your political beliefs on your financial decisions, but this is just senseless. If you had purchased a house when Obama was inaugurated (I did by chance because I was PCS'd that year) you would not only not have lost money (which is what you're telling us you fear) but have made a significant amount of money if you sold at the end of his term (which I also happened to do again by happenstance). So if you believe Biden will have the anything like the same economic results as Obama (which your clearly indicating you do, otherwise why name them both?), and you're deciding on that basis if you should buy a house (which again you indicated), then the obvious answer is you definitely should buy a house now if you want it to go up in value. It's baffling how you are able to look at basic facts, like the upward trajectory of house prices under the Obama administration, and somehow come to the opposite conclusion?

The truth is Presidents have very little influence over housing prices and it's anyone's guess what they will do over the next 4 years no matter if Biden or Trump is President. But you seem to believe they do impact housing prices, in which case buying a house under Obama was clearly a great financial move and if you believe Biden is more of the same you would buy again. Somehow I feel like you're so brainwashed that if we gave you the ability to travel back in time and buy a house in early 2009 you'd refuse to even though you knew it would be profitable because you're pathologically in able of admitting that anything did well under Obama; do I have that about right?
 
maUL3dNQ said:
Buy a house! Build equity into it.

America is so spoiled with cheap real estate, especially in metropolitan cities. I wish I could buy some properties for 300k in Ontario.

Perhaps up north, a little cabin in a community of 4000, with lots of black flies and bears.

Everything is a million dollars here, with average return of 7%YTD the past 10 years..
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Guess how much I bought a property in GTA region about fifteen years ago and sold it 12 years later??? That was the best investment I ever had :)

You still could get some really nice properties in east coast ~300k if you don't need to live and work in Ontario...
 
Sig said:
You aren't making a bit of sense here my friend. You expressed concern about buying a house now saying "I want to buy my first house but I think with Biden having a good chance to ruin the economy the same way Obama did there is a big chance the market will go down, the same way it did in 2008."
You clearly seem to believe Biden will cause house prices to come down, it's exactly what you said. And you appear to believe this because you seem to be under the mistaken impression that house prices went down when Obama was President, which was simply not the case.
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For the 2nd time now, if you go back and read my first post I said the market went down in 2008. How hard is this for you to understand? Yes, Obama didn't help the economy. that's right.

Sig said:
I get you have a compulsion you appear to have difficulty controlling to overlay your political beliefs on your financial decisions, but this is just senseless. If you had purchased a house when Obama was inaugurated (I did by chance because I was PCS'd that year) you would not only not have lost money (which is what you're telling us you fear) but have made a significant amount of money if you sold at the end of his term (which I also happened to do again by happenstance). So if you believe Biden will have the anything like the same economic results as Obama (which your clearly indicating you do, otherwise why name them both?), and you're deciding on that basis if you should buy a house (which again you indicated), then the obvious answer is you definitely should buy a house now if you want it to go up in value. It's baffling how you are able to look at basic facts, like the upward trajectory of house prices under the Obama administration, and somehow come to the opposite conclusion?
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You keep bringing up how things went better near the end of obamas term like he did something for the economy. He spent 8 years in office, not 4, but 8 years, and the economy started going back up at the end of his term, which tells us the whole time he was in office he got absolutely nothing done. Then when Trump took over the economy took off. Yes politics have a big influence on the economy, and your not going to tell me any different. When gas prices go up and taxes are raised and health care is expensive people aren't going to spend as much money. Not trying to make you sound stupid, but this is common sense. Yes there are other things that influence the economy besides politics, like the fact we have a recession every 10 to 12 years, and guess what? It's been 12 years since our last recession, which is another reason why I believe we are due.

And then again like I said from post #1 this is only my beliefs and speculation, I couldn't care less about what your beliefs are or how you manage your money, so get lost.
 
Overnight said:
Then you are buying at a good time, looking through the next 20 year time frame. Remember...rates can go no where but up from here. We're never going to go negative. We're flatlined.
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Jim, how do you know we'll never go negative? They have it in Japan and Europe. I don't see how we can't slide below zero as well.
 
RGLD said:
Jim, how do you know we'll never go negative? They have it in Japan and Europe. I don't see how we can't slide below zero as well.
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Because we are not "Japan and Europe". We have the Woodrow Wilson and the Goldman Sachs and the Jerome Powell.

It is very complicated!

 
Overnight said:
So the Jim Cramer can help push the interest rate below zero with the quantitative easing?
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Can you Jim? You know some people the Fed and the Goldman Sachs right?
Maybe you can recommend on your show. lol
 
RGLD said:
Can you Jim? You know some people the Fed and the Goldman Sachs right? lol
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I do not know the Goldman Sachs because after I was fired from the fixed income of the Goldman Sachs I got work with the CNBC.
 
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