October 23, 2007

The monkeys at the NAR want you to believe it's a great time to be financially ruined (and take out a mortgage on a depreciating asset)



Monkeys I tell ya..

I especially liked these out-and-out lies and disinformation (with my comments of course)

* When you have a family it's always a good time to buy (why, is it a good idea to bankrupt your family? odd.)

* It didn't make sense for us spend the same amount of money renting something when we can own it (what, someone offer you an negative-am, no-down, teaser rate option-arm?)

* In this market there's a lot of options (well, that is true. 100,000 unwanted homes on the market in Phoenix alone. But why is that? Because they're WAY overpriced!)

* Prices are favorable (huh! prices are not even close to where they're going to be a year from now - much much much lower!)

10 comments:

Orange and dangerous said...

Go ahead, flush your children's college money down the toilet.

borkafatty said...

....
....
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Sure Ill move up, if the price and term is right...

Knock off $100,000+ right off the top, and give me a 30 year fixed rate @ 3%...not to far fetched..especially after hearing Presidential Candidate McCain say "Interest rates should be at 0%".

Anonymous said...

(Suzanne sliding to a stop in front of the house in her SUV w/expired tags) "Hey Biotch this is my town !"

Anonymous said...

Desperado, why don't you come to your senses...

I don't think anyone is drinking the NAR coolaid anymore.

Frank@Scottsdale-Sucks.com said...

Don't tell 'happy homedebtor.' He'll have us all believe that getting financially ruined via a mortgage on a depreciating asset is a status symbol that makes you more elite than the rest of society.

Dope.

wiserenter said...

Please! I just ate!

Peter T said...

The NAR needs to starve to death. With more realtors earning less and less, the NAR will loose cloud and hopefully wither into oblivion. (I have nothing personal against every real estate agent, just against their lying mouthpiece.)

Anonymous said...

The last lines of the video:

Him: "If we didn't buy now we would of missed the opportunity on this home."

Her: "yeah"

INTERPRETATION:
Yeah, because the owner would have been forced to burn it to the ground in order to get out of his toxic mortgage. I'm sure he's thinking thank heavens someone not only was dumb enough to pick this house out of the thousands just like it, but that they bought now instead of waiting next year when the market will fall another 10 - 20%.

Ontario Mortgage said...

I believe in this thought "It didn't make sense for us spend the same amount of money renting something when we can own it."

Why would I spend spend the same amount in renting if I know there's other option that I can own it.

Peter T said...

> Why would I spend spend the same amount in renting if I know there's other option that I can own it.

What do you mean by owning? If your name is on the title, but you have no equity or might even be underwater, what do you own? A lottery ticket to cash in on appreciation the next years (good luck with that) and probably the duty to bring some money to the table if you want to move out.

If interest, taxes, insurance, and repairs are less than the rent of a comparable house, then renting the money to buy the house is often better than to rent the house. Still, there are consideration about flexibility to move and security against rent increases that might tilt the scales in one or the other direction.