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Welcome to Activerain from from all of us at Ken's Home Team. I think you will find this site to be a wealth of knowledge and referrals. This really is the best real estate blogging and real estate network on the internet. If you have any questions about Activerain, reach out to the wonderful Ambassadors here in the rain. (They are a wealth of knowledge and were picked by the Activerain staff for their willingness to help others)
They are overvalued when you look at real unemployment rates (not the fake derived numbers the govt/ concocts), wages, and interest rates being this low. Given that, you have to live someplace so if your mortgage will be lowr than your rent, why not buy IF you will stay put for 10 years or more and the location is ideal for you and for potential future buyers.
Come on Liam, Does this mean you aren't drinking the Lawrence Yun Kool Aid? I have been speaking about the inherent weakness of the market since the so-called housing recovery reared its head. THere is no sound basis for it other than the banks in collusion with the big REITs over-inflating the sales prices of homes in a feeble attempt to 'drive' market demand. Unfortunately, once the stockholders of the REITs begin to ask why the dividends are not where they need to be, and when the REITs realize they can make a higher return in other investments, the small investors and new home owners will have paid too much for their holdings and we will be right back at square one, i.e., 2008 all over again, only this time MUCH WORSE!