Economist on hannity says Housing is great place to invest

[Legend1104]

I was listening to hannity radio and an economist said that the economy needs to be aloud to work and people need to be let fail. I liked that part but then he said that there is a shortage of houses and that the housing market is a great place to invest.

 

[Sola_Fide]

Nooooo.

We have not let the housing market correct from the destructive "stimulus" programs of the FED. I don't think we have seen the bottom of the housing crash yet...

 

[Mike4Freedom]

If they continue stimulating houseing will slowly drop for 10 years. If they stop it will probably move down by at least 20% in some areas to 50% in others.

I am waiting for this to happen so I can scoop up dirt cheap rental properties. A duplex in my area that will get around 1600 a month in rent sells for around 130 - 160K. In 5 years it should sell for 100 - 110 making it a good investment.

 

[DamianTV]

Or every city in the US can end up like Detroit, the poster child of Socialization.

 

[Zippyjuan]

Good investments in the long term are often the ones people say are bad invsetments now. If everybody thinks housing is a good investment, then tons of people will jump in driving up the price. It is better to be a buyer when everybody is selling. Then you get it priced at a discount. Interest rates on mortgages are at unheard of low rates now. But don't do it if you expect to resell in the next three years or so.

 

[hugolp]

Good investments in the long term are often the ones people say are bad invsetments now. If everybody thinks housing is a good investment, then tons of people will jump in driving up the price. It is better to be a buyer when everybody is selling. Then you get it priced at a discount. Interest rates on mortgages are at unheard of low rates now. But don't do it if you expect to resell in the next three years or so.

While this is true, I think you can still wait from 1 to 3 years to buy a house as an investment. Probably the housing industry stocks are alredy at a good price.

 

[Jeez]

While this is true, I think you can still wait from 1 to 3 years to buy a house as an investment. Probably the housing industry stocks are alredy at a good price.

If government decides to drop the mortgage deductions (which is currently costing us 100 billion/yr) for houses expect another plunge of 20-40%.

 

[LiveFree79]

Land is a great investment right now and will continue to be so well into the future, no matter how overpriced it is. As the economy gets worse you will see people resort to more simple, more independent and more more self sustaining ways of life.