Any guesses as to whether we'll see a decent correction and where/when it'll end up? My $ is on a 1300 S&P in June.. The index has busted out WAY past its channel: Clicky for P&F Thoughts?
I think the economy is still strong in 2008... May be in 2009. What do you guys think about the housing prices in Altanta?
Housing here hasn't really had a big boom so I wouldn't expect a major correction.. if anything they might stay pretty flat for a while.
Well the mortgage companies are starting to get some governemtn intervention. We're seeing 2x as many defaults on payments than last year. That could tell you something...other than, of course, how silly these people are to buy in at a extremely flexible rate.
What is the going mortgage rate in ATL area for a $250,000 house at like 30yr mortgage? My gf and I are contemplating about moving out of the apt, where we are paying $910/mnth to a house where we could get by with maybe a $1500/mnth payment. Don't know if that's achieveable now with the rates where they are.
Strayen, For most current mortgage rate, check out: www.bankrate.com You can get competitive rate there and they are still "very" attractive. If you know Excel, you can figure out the mortgage payment using the PMT function. Assumes 250K, zero down, 5.67%, 30 yr fixed, 1% property tax and $700 insurance, you are looking at ~$1,700. To get to a $1,500 monthly payment, you are looking at a house in the $220K range. Email me and I can spend some time with you in person or via the phone. I am in Corporate Finance and may be able to help you or any other people on this site. Of course.... the more serious question (Again, I don't know you or your gf).... Just thinking out loud... Are you sure you want to joinly buy a house with someone whom you have yet to propose? Brother, there is virtually no up side for you. Who is going to take advantage of the tax shield or what happen if there are negative events in the future? Just my 2 cents...
^^^^^^ Good advice. And you sir, may be hearing from me in the future in regards to finance. I'd say i dabble in many different markets quite often and can always benefit from an alternate point of view.
^^^ I see your point, but I find the timing of waking this dead thread pretty timely considering the title and the current economic environment.