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Im in the middle of purchasing my first home. Is this the worst time to buy? A lot of talks about the housing market crash due to Corona. Im scared as soon as I close, my house will be worth less than I paid even after the scheduled renovations.


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aeds151 said:
Im in the middle of purchasing my first home. Is this the worst time to buy? A lot of talks about the housing market crash due to Corona. Im scared as soon as I close, my house will be worth less than I paid even after the scheduled renovations.


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That may be, but on the other hand, you are, or should, be getting a historically low interest rate on your mortgage. Make sure you are getting a fixed rate mortgage.
 
purchasing home

aeds151 said:
Im in the middle of purchasing my first home. Is this the worst time to buy? A lot of talks about the housing market crash due to Corona. Im scared as soon as I close, my house will be worth less than I paid even after the scheduled renovations.


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We bought a second home in Florida (our first home in Missouri is paid off) We bought it about a year ago , and are refinancing it right now since the rates dropped so low. Can't get much lower on a 30 year fixed rate.
 
Other countries not messing around

amc rulz said:
your prez doesn’t mess around. Or so from what I’ve read.
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People here think they have it tough on our lock downs. My wife is from the Philippines so I keep up on the news there . Have been there a number of times and love it over there. My mother in law is elderly and has COPD so watching the situation closely there .
Philippines men caught out when they shouldn't be were put in dog cages as punishment. https://www.vice.com/en_asia/articl...g-coronavirus-lockdown-violators-in-dog-cages (ADD on ) Duterte warns groups disrupting quarantine


Christina Mendez (The Philippine Star
) - April 2, 2020 - 12:00am

PNP told: Shoot them dead
MANILA, Philippines — Shoot them dead.
President Duterte ordered the police and the military last night to shoot dead those who will continue to hold protests that disrupt peace and order during the enhanced community quarantine.
Duterte issued the order after members of the left-leaning urban poor group Kadamay reportedly instigated a protest that turned violent over food distribution in Quezon City.

“My orders to the police and the military, including the barangay – if there would be conflict and there is an occasion that they fight and put your lives in danger, shoot them dead,” Duterte said. “Tingnan ninyo, patay, kesa magulo kayo dyan, e di ilibing ko na kayo, yang libing akon yan. Huwag ninyo na subukan ang gobyerno kasi ang gobyerno ito.”
He expressed his anger after he met with members of the Inter-Agency Task Force on the coronavirus disease 2019 (COVID-19) last night.
 
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davidlhyde63366 said:
People here think they have it tough on our lock downs. My wife is from the Philippines so I keep up on the news there . Have been there a number of times and love it over there. My mother in law is elderly and has COPD so watching the situation closely there .
Philippines men caught out when they shouldn't be were put in dog cages as punishment. https://www.vice.com/en_asia/articl...g-coronavirus-lockdown-violators-in-dog-cages
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Sounds like a great vacation spot :lol:
 
aeds151 said:
Im in the middle of purchasing my first home. Is this the worst time to buy? A lot of talks about the housing market crash due to Corona. Im scared as soon as I close, my house will be worth less than I paid even after the scheduled renovations.


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Is this a long time investment? How old are you? Are you purchasing what you want or what you need? Are the payments going to strap you?

NOW, you dont neet to tell us any of those answers, but i feel if you're going to make a home purchase that you plan to own for many years, I would think you would be fine. If you think of it as an interm house for a couple years it might be more challenging. REMEMBER, even if the housing market crashes, and you can make the payments, you didn't loose anything untill you need to sell it.

Lastly are you buying what you need, what you want or what will impress others? Again no need to answer outloud
 
Asia during virus

Steve said:
Sounds like a great vacation spot :lol:
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Most of the time the Philippines is a great vacation spot , We have a family home there so we have a place to stay when we go over . My last trip 2017 I was there almost a month and love it. We normally go to the central islands of Bohol and Cebu which are very diffrent than Manila . Right now all the airports are closed and also the boats between the islands. Every one is in lockdown to stop the spread of the virus. It is very tropical there about 10 degrees on the equator so easy for us to burn. With over 7000 islands that means unlimited beaches and few people over there have detectors. Add to that around 400 years of Spanish rule many churches are 300-400 years old . Country went from Spanish rule , to American rule , Japanese occupation , back to American rule to independence. The USA ran a mint there from 1920-1941 using the M mint mark. The coinage 1903-1920 were minted in the states. The pesos from 1903-1906 were on the same silver blank as the Morgan dollar. The Spanish issued lots of silver and some gold coins. During normal times the rich tourist would also be loosing lots of jewelry at the nice resorts. Also the exchange rate over there makes it very affordable.
 
Big Treble said:
Is this a long time investment? How old are you? Are you purchasing what you want or what you need? Are the payments going to strap you?

NOW, you dont neet to tell us any of those answers, but i feel if you're going to make a home purchase that you plan to own for many years, I would think you would be fine. If you think of it as an interm house for a couple years it might be more challenging. REMEMBER, even if the housing market crashes, and you can make the payments, you didn't loose anything untill you need to sell it.

Lastly are you buying what you need, what you want or what will impress others? Again no need to answer outloud
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Not planning on a long term investment as at 35y.o.a., I can not physically do my current job for another 25 years. Also, to increase potential of a promotion, you have to be willing to move anywhere in the country so its possible I move states but not an absolute. My mortgage will go up per month compared to what I have rented the last 5 years. The house is smaller but has 2.5 acres which will impress my friends/family I left out west living in houses twice as much surrounded by concrete/asphalt. I was getting a lot of pressure about being a long term renter (which I really dont mind doing) and caved in to the wifes demand haha. I guess being stuck in the house has me thinking to much.


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aeds151 said:
Im in the middle of purchasing my first home. Is this the worst time to buy? A lot of talks about the housing market crash due to Corona. Im scared as soon as I close, my house will be worth less than I paid even after the scheduled renovations.
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Don't want to scare you but here house market went down.
House visiting day's had zero visitors. Houses are hardly sold.
But in long terms one needs a roof above his head. If you can pay each month what you must pay and you stay were you are then it doesn't matter wether the house is worth 10% more or less.

What you should do? No one else then you yourselve can tell.

Here it is still busy at the IC centres, but the amount of infections and new hospitalizations is lowering.
Infection ratio went from 2 to 0,5 (under 1 is decenting, above is acending).
Keep social distance! DO IT!
It still seems to be working.
 
This is a video from Japan containing very important information about
micro droplets. It clearly illustrates the need for wearing a mask and yes,
even glasses since the virus can infect you through your eye membranes.
This is on top of social distancing. It has English subtitles.

 
Rudy said:
This is a video from Japan containing very important information about
micro droplets. It clearly illustrates the need for wearing a mask and yes,
even glasses since the virus can infect you through your eye membranes.
This is on top of social distancing. It has English subtitles.

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That's a very informative and helpful video....thanks for posting!
 
It's a shame they told us NOT to wear a mask a few weeks ago. I feel like the CDC is dropping the ball on this deal...
 
FreeBirdTim said:
It's a shame they told us NOT to wear a mask a few weeks ago. I feel like the CDC is dropping the ball on this deal...
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It's very much a personal choice. Only complete idiots would cough or sneeze
without putting a handkerchief over their mouth, and the face masks are
more for those who have the virus already. Most masks wouldn't stop micro
droplets anyway.
The majority of people are also keeping their distance from others.
 
~Alan~ said:
It's very much a personal choice. Only complete idiots would cough or sneeze
without putting a handkerchief over their mouth, and the face masks are
more for those who have the virus already. Most masks wouldn't stop micro
droplets anyway.
The majority of people are also keeping their distance from others.
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Unfortunately Alan, these idiots live among us all!!
 
Things are changing fast around here. What really ticks me off is the employees of stores ( cashiers , stockers) aren't wearing any PPE. While they limit
customers access into stores , scan our goods , etc.
Now San Diego is requiring employees to wear it. Riverside County : anyone going outside must wear face protection. Hopefully LA & OC will be next.
 
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