Offer Accepted-Next Step? Reduce the Offer? Rent? Delay for a few years?

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Re: Offer Accepted-Next Step?



I am not just saying this to prove myself right, but a friend of mine bought last year, a run down shack of a place for 375000. I literly begged him to wait for a year, he was having none of it, a bit like you. Now his house is worth 310000 and that is max, he has already pumped 30000 into it. It baffles me that people think it makes emotional or economic sence to buy something that is going to loose significant value.

Good luck to you.
 
Re: Offer Accepted-Next Step?

There are suckers on all sides - there are people who have been renting the last 10 years thinking the sky would fall, and paying for their landlords retirement.

There are people who bought cos their neighbours were making money and they were not, so expected a free lunch too.

There were people who didn't understand the financial contracts they were signing up for, and others whose aspirations went beyond their means.

And there are an awful lot of people who made an awful lot of money along the way.

Every run on an asset creates winners and loosers - it's the way markets work.
It been like that since the dawn of capitalisim, and everytime history repeats itself, people tend to look the other way, and ignore reality for while it lasts.

There is always hair pulling and blaming afterwards, but while the show went on, nobody really wanted to complain.

Things are never as good as people make out, or never as bad too.
 
Re: Offer Accepted-Next Step?


All of the above does not mean that people cannot at any time make informed common sence decisions about the issues?????????????????????????????
 
Re: Offer Accepted-Next Step?

Depends what you mean by informed.
Most people consider themselves informed, even though they have differing views, and different results from their decesions.
Who's to say who is correct, only time? What works for you may not work for someone in different circumstances and v.v.
 
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