"A young whipper snapper home owner was telling me the other day I should buy any house no matter how crappy it was because straight away "it would start earning money for me".
Thats why houston WE DO have a problem.
She is not robinson crusoe either, so many young people i hear talking about real estate think this way. Its the result of blue-sky publicity, uneducated parental advice and worse, parents paying their children's deposit as well as a fear of 'missing the boat'.
Notice how people's confidence have dropped even on this forum the last 2 months. We've still had the bears saying its going down but now we have the bulls just defending how much it will drop.
Personally, i think anyone buying now on a minimum deposit better hope they dont need to sell in the next 3-5 years or they may just burn there money. No one says BUY.
