Getting a cheap house ...

skiwi · Posted: Sat Oct 16, 2004 11:13 pm Post subject:

Just hoping the bubble doesn't burst in Melbourne untill at least next year
Had my house on the market since mid August but still $10k shy of my price.
If I don't get it by Nov 11th through the agent a neighbour is ready to give me
what I want without having to pay the agent any fees.
Needless to say I haven't mentioned peak oil to him Smile

OilsNotWell · Light Sweet Crude Joined: Aug 11, 2004 Posts: 1257

Might be a good plan if and when such a bubble bursts...

However, you are, of course, assuming that you can pay for it in cash...

as any such bubble burst will likely be accompanied by much, much higher interest rates...

Oh, and by "cash" I, of course, mean non-inflationary "money"....since the U.S. dollar in such a crash would crash, too, wouldn't it?

Hmm..that would mean a non-depreciating asset class....can you say....gold?

Ah, but remember how Roosevelt outlawed private ownership of gold in 1933? I wonder why?

MonteQuest could provide a more detailed explanation if you don't understand...

Good luck!

OilsNotWell · Light Sweet Crude Joined: Aug 11, 2004 Posts: 1257

I hope I didn't sound intemperate...what I mean is:

Perhaps you are seeing a housing bubble out of context...

All other things being equal, your idea is good....but

with the onset of peak oil, the possible devaluaton of the dollar, mounting geopolitical instability, the slow and ever-present lowering of living standards, your idea of home ownership as a way to swoop in and find a bargain may not fit in with what you could be looking at in terms of survival and sustainability...

If you plan to own this home for 30 years, what will happen in 30 years if you believe in peak oil and ultimately peak fossil fuels, and maybe even peak energy? How would the concept of a die off fit in with your plans for home ownership? Will this house be in a sustainable community setting? Could your efforts and money be put towards something else?

Just asking.

Specop_007 · Expert Joined: Aug 12, 2004 Posts: 5536

Just wait till people start dyin, find a nice house and claim it as yours. Very Happy

Personally, if you want a house NOW is the time to buy it. Interest rates are at an alltime low. Take advantage!

KiddieKorral · Posted: Sun Oct 17, 2004 3:15 am Post subject:

Wait until TSHTF and buy a suburban subdivision. Surprised

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