(no subject)

[joebanks]

Well #1daughter and her boyfriend put down a bid on a house. Didn't even give us a chance to talk them out of it. How anyone is willing to give them almost $100,000 to borrow is beyond me. She has worked steady since she was 16 but has only had her first full time position for four months. The boyfriend has changed jobs - a lot. Surely, there must be another housing crises looming.

Comments

[rafqa]

I've got to agree-- things don't seem much different than they did before the last crisis. My niece (strongarmed by her mother) bought a house in Reno before she was even out of college-- there were State of Nevada programs/incentives involved, but how she could get approved for it, even with a co-signer (BTW NOT her mother) when she did not even work full-time and had zillions in college debt... I don't get it. My approach to economics is very simple, I'm afraid. But I hope it works out well for her, and for your daughter. Unfortunately, renting is now so difficult, I think people are desperate.

[joebanks]

It's either a bold move or a stupid move on her part, still waiting for final loan approval, feeling guilty, maybe i should have got in her face and said "Not a good idea!" but right, rent would be almost as much as their mortgage payment.

It'selfish, i'd like to stop worrying about - everything, and especially nothing new.