Wednesday, April 20, 2016

Quote of the Day

April 20, 2016
CNBC: Young homebuyers cringe on credit scores

"With rents steadily rising and average fixed rates well below 4 percent, qualified first-time buyers should be more active participants than what they are right now," said Lawrence Yun, chief economist for the National Association of Realtors.

If you can't trust the chief economist for the National Association of Realtors to give you an accurate scoop on the housing market and tell you what you should be actively doing, then who can you trust?

I mean, really. There's never been a better time to own your own home.

1. Lock in that home equity before the next earthquake, tornado, hurricane, flood, and/or termite invasion strikes. What's the worst that could happen?

2. They just aren't making any more land (other than by building high-rise condominiums, doubling the land with each doubled floor).

3. Buy now or be priced out forever. In other words, buy now before the next economic downturn hits and the layoffs begin again. Do you know how hard it is to borrow money to buy a house while unemployed? I mean now, of course. I'm not talking 2005, when fogging a mirror was the only qualification needed.

Some might argue that many qualified first-time buyers should rent. Not me. Oh, sure. I did. I thought it would be better to concentrate on my career rather than the mowing and the weeding. That was just a crazy period in my life though. I moved from job to job as the layoffs appeared. Didn't want to be anchored to a house.

Today's younger workers don't have to concern themselves with that. When you are hired on by a large multinational corporation, you are their employee for life. I'm talking the ultimate in job security. No moving will ever be necessary. Just kick back, do the minimum necessary, and then enjoy that fat pension later in life. Plant yourself I say.

Uh, oh. Broke the sarcasm meter. I should have bought one made in the USA using hard-working American factory robots instead of buying a cheaper Chinese model using hard-working Chinese factory robots. My bad.


mab said...

When you are hired on by a large multinational corporation, you are their employee for life.

Exactly! Just ask any barista at Starbucks with an advanced degree!

And while you're at it, ask them how long they've been homeowners. Maybe you can even find out who does their landscaping, cleaning and hvac maintenance. Whoa, my sarcasm meter is making noises.

Stagflationary Mark said...



You've got a sarcasm meter that makes noises? Well, look at you splurging on the deluxe model! Woohoo! ;)