Re: [Pen-l] Now I'm scared

[Max Sawicky <maxbsawicky@xxxxxxxxx>]

Why not rent?  Put your extra dough in TIPS.  You're young.
Start saving now and you should be fine, unless Louis leads an
army of the dispossessed and burns down all the banks.



On Wed, May 20, 2009 at 11:49 AM, Julio Huato <juliohuato@xxxxxxxxx> wrote:
> >From Cramer's response to a question, as linked by raghu:
>
> "I think that real estate is a once-in-a-lifetime opportunity, because
> there are no competitive buyers. Mortgage rates are the lowest in my
> life. Affordability is the best in my life. Clearly, real estate is
> much better than stocks right now."
>
> Since family continues to expand, we are now in the delicate process
> of selling our tiny co-op apartment in Sunset Park and buying a house
> in Bed-Stuy.  Given current rates and market conditions, it seems like
> we'll be able to afford a -- for our modest standards -- huge 3-story
> limestone house, fully restored and renovated, with top of the line
> appliances and amenities.  I mean, this is Brooklyn, and Bed-Stuy is
> officially a "low income," predominantly African American and
> Caribbean neighborhood.  However, the fact that *Cramer* is advising
> people to go long on real estate scares the hell out of me.  PEN-L
> should provide bubble insurance to its members.
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