Great advice Wanderer. Having a house is not really for everyone, so putting an investment on one is a very big decision to make.

Certainly true, every market is different. It just seems safer to park money in a usable asset versus the stock market, bonds, cash or the bank. I do agree that for the most part real estate stability varies among location.

jerry5 - housing has become very fickle. Yes, where you live plays heavily into the equation. The old days "flip this old house" and pick up a few bucks was the game. Back in the '70's you could easily double your investment in 5 to 10 years. Today, we over built on a credit bubble comprised on many sub-prime risks and our tastes for housing foot prints that exceeded our income.

Caution! In the old days the house was the automatic number one investment. Today do you buy at $169K and then have to sell for $82.9K and the mortgage is still $100K and you lose!!! This is a big risk and your local geographic area has a lot to do with it. Not all areas are the same.

To do an economic talk here... we the United States chased the good life way beyond a sustainable future and an economic adjustment has been required to reflect the real world where employers are closing or moving to a global outsourcing (labor costs) approach and building where there market is (not producing in the US and shipping wherever). It is a new world.

Men concentrated there labor skills into industrial production and we as a nation have been changing to a service based economy with lower paying jobs and men with out the skills to function in the service based econmy. Women have acquired the skills for the service economy and are doing much better for employment opportunities.

What I am driving at is pay attention to buying. My belief is that investing in housing may give you something for the future that is your's but, you have to get into the investment right (in today's world). Also, despite all the salemanship... realtor's make there money through sales commissions so you need to look out for yourself (believe me no one else will). You may well be aware of all this but, it is a world of many uncertainties and as an old timer I have seen a lot and this world is even beyond my memory bank of knowledge.

I'm starting to think that owning a home is better than sitting on cash. If we have a crash of the dollar... Rates this low with a dollar in pure jeopardy make me think that this is the time to go house hunting. Just my 2 cents.

Depends on where you live...

I'm starting to think that owning a home is better than sitting on cash. If we have a crash of the dollar... Rates this low with a dollar in pure jeopardy make me think that this is the time to go house hunting. Just my 2 cents.

Wow!congratulations on closing the deal and for having your new house. How long did it take you to get the loan and find the house (or whichever came first)?

The loan took forever lol 4 months the loan officer gave me a listing of all three of my credit reports on each it listed how much I needed to bring down each credit card balance of x ammount of dollars for x ammount of point. It took two months to pay them down and then I had to wait for them to reflect on my report. Then I had to wait on USDA for approval that was about three weeks and then I had a closing date 2 weeks aftert that. I have heard from friends that it is not that much time to buy a new house. I have never bought a house before so I don't know.

Hello everybody, I know it has been some time since I have been on a lot going on. I closed on my new home last week and have moved in. Thanks to all the wonderful people here at Finance Globe. You all know who you are and I appeciate it. I got a USDA loan for 82,000 with now out of pocket money YAY! For everyone out there wondering there are still funds available from USDA if you hurrry. Thanks again everybody

Wow!congratulations on closing the deal and for having your new house. How long did it take you to get the loan and find the house (or whichever came first)?

Yeah, especially San Francisco -- where Meya lives right?

Ok, you got me...oooohhhkay!

Yeah, especially San Francisco -- where Meya lives right?

All over CA really; although you can find newer homes in the Inland Empire (Riverside and San Bernardino counties). You have to keep in mind that after WWII people flocked to all parts of CA like it was going out of style (and now they are leaving like its going out of style). So a lot of it was built up during the 1950's and 1960's. Some people like mid century architecture, but I think it pretty much sucks. Every state has some, but CA got hit with it the worst. I just don't know why someone didn't start to demolish some of those shacks when they had the chance. An average house in the San Fernando Valley (SoCal) was $150K in 1997 and by 2005 it had jumped to $500K-with absolutely no upgrades!

Yeah, especially San Francisco -- where Meya lives right?

Tell me about it. I walk pass some that looks like they are about to fall on me, so I know you are correct

Congrats Jay1. See Colo, now you clearly understand why I refuse to purchase in CA. Those figures you all were pricing for homes are down-payments out here...lol

I know it. And it kills me too. A lot of the homes built in CA were built in the 50s-60s and they are pretty darn hideous and some look as if they should be condemed! And yet they sell for $500k+ The housing bubble has helped a lot in terms of reducing the prices in Cali, but CA is still one of the most expensive states to own a home.

Congrats Jay1. See Colo, now you clearly understand why I refuse to purchase in CA. Those figures you all were pricing for homes are down-payments out here...lol!

[The house I bought is 3 bedrom 2 bath farm house. I live in NC in the Mountains the further you move away from Asheville the lower the home prices. Still only 30 min from work though. We lived in a mobile home before the payment was $400.00 a month. My new mortgage payment is $544.90 with my taxes and insurance escrowed ( it was not optional with this loan).

Congrats!

[The house I bought is 3 bedrom 2 bath farm house. I live in NC in the Mountains the further you move away from Asheville the lower the home prices. Still only 30 min from work though. We lived in a mobile home before the payment was $400.00 a month. My new mortgage payment is $544.90 with my taxes and insurance escrowed ( it was not optional with this loan).