dilemma dilemma dilemma is that even the correct spelling

[eyeball]

As I have stated in the past B and I are thinking of down sizing  our place of residence, we just cant decide when would be the best time, the dilemma, i got a call today from a realetor pal to let me know of this really good condo deal in penticton, it turns out b and i have been saying one day we could live. Well The timing is bad for starters but the  price is great and it what we want were we want gawd what to do, to old for a mortgage and both of us now retired money become the issue, we have enough cash to purchase but hate to spend out our resources at this time, we could purchase and rent this place until the prices creep back up but hate to gamble on the time frame it might take

[yorkcountykid]

eyeball, i googled this and i totally agree with it.

I agree land is a great buy BUT to buy land you need money. all wealth comes from land. ie gold, oil, houses, all comodities.Land is over priced and gold is undervalued, its a swinging pendulum. All markets get overbought and under bought, so to make money you need to know which way the pendulum is swinging (most people don't even know there is a pendulum) So houses and land is now way over bought because it is priced in paper money.which is inflated beyond belief. the currency for the average person is now shrinking, Gold has been supresses for years at the comex (you need to understand how it works)
so gold is as undervalued now as it was in 1978 when it went from 220 to 850$. in weimar germany at the end of their hyperinflation 10 ounces of gold would have bought a whole block of buildings.

[Nat]

I'm thinking that is all your savings would be in one basket real estate, so if you want the condo I'd be temped to sell the house now.  Houses are selling pretty good right now or you might want to wait until spring but I'd sell.  Interest rates can't stay this low forever.  IMO


I  too am stuck with 2/3 of my savings in my house, but I really don't consider my house an investment yet. 

[eyeball]

you r right on nat.  We had the kids over last night to discuss and we have decided that it can pass by, we will look at a later date to purchase, suerly another condo in the same building will be available when we are more ready to sell and move. too much on ones plate can blind them to the everyday goings on in life.

[Fornicator]

Smart move unless you were willing to take a potentially large hit.

[DDD]

If you can afford it buy the condo now and rent out the other place or just sell it. Your buying low so what if you can get more later unless thats all you have