I received an email from “John” last week. Thinking it was a friend, I opened the mesage and it turns out to be from John Laing Homes. My email is registered with all the builders so it wasn’t surprising that John had some comments regarding the current housing market. See for yourself and let us know your thoughts.
To buy or not to buy? Read what Time says.
Dear Arcadian,
Are you in a wait-and-see mode about buying a new home? Famed Money Manager Peter Lynch has some good advice, “Ignore the headlines.” In a recent article in Time Magazine, Lynch reaffirmed to the author his view “that homeownership should be your first investment, since an owner-occupied home is nearly always profitable.” In fact, the article points out that waiting may not be a very good decision at all.
“Let’s say you are emotionally ready to be a homeowner. You have good credit, plan to stay put five years and have been waiting for the perfect entry point. It’s time to get serious – before an inevitable rise in interest rates wipes out your advantage.”
Time Magazine, 2/14/08“Risk always seems more acute when the headlines give you ulcers. But that’s exactly when you should think long term – and get off your thumbs.”
Time Magazine, 2/14/08The bottom line? You find the home you love and we’ll do everything we can to help you achieve your goal.
Best Wishes,
John Laing Homes
It’s never a good sign when you’re encouraged to make a purchase by the same party that will directly profit from the transaction.
That was a very strange comments underneath the letter. How can one say that it is “never” a good sign to be encouraged to purchase from a party that profits. What the heck is advertising? All advertising is to entice you toward whatever product they are selling. Further, it would be a very interesting society if the sale of goods and services never generated a profit.
I simply don’t get the point you are trying to make and I personally agree with Laing and Time Magazine. Do you always want to be a renter?
I think TheArcadian is just warning people to beware of financial advice that comes from companies that would benefit from a transaction at the cost of the buyers’ money. It’s similar to buying a car because the car salesman st the dealership said it was a good deal.
We all need a place to live and no one wants to rent forever, but I disagree with Time & JL. Now is not a good time to buy a home.