Wait, please just wait and see

Some nearsighted boneheads go out in todays DN.no and recommend buying real estate now.
What boneheads.

Please, readers, please.
Today, anything and everything cost 1 dollar to the dollar.
6 months from now you can buy a dollar for 70 cent.
Two years for now you’ll buy a dollar for 20 cent.

Please don’t squander your cash now, preserve it.

Ikke kjøp bolig nå.
Ikke kjøp eiendom nå.
Ikke kjøp Acta, Skagen, DnB Fond, Verdispar eller annen søppel nå. Selg om du har dette.
For all del ikke kjøp hytte nå. Spesiellt ikke hytte på fjeldet.
Ikke kjøp stor bil.

IKKE kjøp noenting.
Spar på cashen.
Reis og kos deg, bo på hotel. Slå opp på nettet og finn gode dealer på hotel.
Lei en leilighet.
Selg huset/leiligheten og bo på hytta over sommeren med familien.

Nå smeller det noe helt jæ… og folk kommer til å blø.
Cashen din blir gull verdt om kort tid.
I dag har alle cash, om 2 år har ingen cash.
It will make all the difference in the world.

PLEASE WAIT, PLEASE JUST WAIT AND SEE.

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2 Comments

  1. Posted 5 February, 2008 at 4:02 pm | Permalink

    Finally I am moved to comment. Excellent blog BTW, been reading for a while, very solid advice.

    I still follow house sales in South Oslo. Last week an ‘okay’ Nordstrand house, 6m plus, sold 600k over takst.

    WHAT? were they MAD??? Please please, do not buy a house now, not even at a ‘good’ price. And especially do not buy a hytte. In two years time people will be unloading their cabins as fast as they can to make the payments on their main house. That 4m place in Oppdal will be half the price. City houses now are priced so far over income thay _have_ to come down, it’s just a question of how much.

    NEF reported house prices UP 3.9% last month. I don’t believe it. I was following the market closely Jan last year and it was wild, this Jan it was practically dead. Wait. WAIT.

    Okay, rant over.

  2. Farmann
    Posted 5 February, 2008 at 4:19 pm | Permalink

    Jeremy – yes wait!
    Let’s hope people read this and take action (or rather don’t take action in this case).
    :)