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Comments

Stephanie

its craziness... good thing Jason and I are looking to buy in Provo, Utah instead of here in the OC. :)

Allen Jeng

Gosh John ... I'm pretty much in the same boat as you are -- don't want to do the lame 0% or 5% down because that's really risky, not to mention giving extra interest to banks when you can invest em? My wife Fanny and I look at houses from time to time just for kicks -- the scary part is that the last cool place that we saw was a condo near Intel (Rivermark plaza) - can you belive that a brand new 1,000 sq ft 1 bedroom, 1 bath condo goes for a whopping $460,000? There's also the single family community over there near Sunnyvale DMV. The 32 unit houses went for as low as $890K and as much as $960K. They were SOLD OUT before model homes were finished... not to mention the 90+ names on the waiting list hoping to grab the last 3 available unbuilt houses. Hello people... almost 1 million bucks ... right next to Sunnyvale DMV? That's total madness!

After reading lots of articles from Mercury News online and hearing from people in the housing market, people are treating the real estates in bay area as "investments"! People buy them on 0% ARM and hope that the house will raise in value after 6 months to 1 year then sell it for a profit.

It's nice that people are investing -- but this feels more like greed. A quick cash turn around... safer than stocks, faster than CD or bonds. At times, this kind of lure seems tempting to us as well! But then, from God's prespective, how should we view this?? An investment or pure greed? It definitely feels like pure greed out there -- I mean ... if it's greed, there will come a time when people are going to say -- this housing market is ridiculous ... thus all those "investors" will have tons of houses on their hand as price starts to drop.

Comments? Love to start some discussions on that!

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