Suze Orman, Financial Guru
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
View Blog & News List

Resist home-buying pressure, Suze Orman advises

September 22, 2013 at 9:46 PM

CNBC – Published: Wed., 18 Sep 2013
By: Sakina Spruell | Producer

The recent rise in housing prices and the decrease in supply in certain parts of the country have some people willing to spend every nickel they have to get into the market now.

But Suze Orman warns hopeful homebuyers not to be hasty and end up house poor.

On Saturday's episode of "The Suze Orman Show," Jean of California asked Orman if it would be wise to tap her savings and retirement to put down 50 percent on a townhouse to ensure that she gets approved despite her income situation. Jean, 43, is going through a divorce and working at a temporary job but insists on buying a home now.

"The reason I must buy now is I found this fabulous location. It's a new build in Southern California, and … right now in Southern California there's no inventory," she told Orman.

To add to the sense of urgency, home values rose 12.2 percent in the second quarter from compared with the same period last year, according to the National Association of Realtors.

Even with such growth, though, Orman advised caution.

 

Read Full Article

1 on One : Jean

Tag Cloud

One Wallet At A TimeGracetaxesMarlo ThomasPost-DivorcePersonal FinanceSuze Orman ScholarshipCredit Card Rate IncreaseForbes Top 10Student DebtTeachStock InvestmentsFinancial AwarenessStudent Debt Crisissame sex marriage band end FloridaMoney MarketHolidaystudentCory BookerThe Suze Orman ShowGay Rightsmarriage inequalityemergency fund savingsSandy Hook Promisestudent loan repaymentFinancial CliffMotherCommencementSuze OrmanRichstudent loan repayment planPBS SpecialSuze Orman spouse Kathy TravisAlarm ClockFundsUniversity of FloridasuccessUS Tax CodeForeclosureSpendingFederal Funds RateWarner Bros Television Grouppaying for collegeAARPstudent loan debtPay Off Debt Before RetirementBaby BoomersLoveOverspendingSandy Hook Elementary Schooltelevision hostFinancial Gift Cliffuniversal college accessStudent LoangraduationBankruptcyFinancial EducatorWall StreetCredit Card Interest Rate2015 financial roadmapUniversity of Illinoisretirment savingsteensFinancial System401KExhibitiondear suze50 over 50Financialpresident Obama!00% tuition paidretirementJose RodriguezCivil Rightscommunity collegesocial workVeterinary SchoolAshley SpringerPrime Rate Rise 2015LifestyleGay CouplesFinancial Adviceteens and moneySave Us MoneySchool of Social WorkRetirement Incomemobile appbill paying prioritiesMortgage Credit Availability IndexCNBCSuze approvedSatisfyingHeartMoney-SavingHoliday ShoppingChanging Livescredit cardForbesGift401(k) ContributionsInfluentialsUrbana-ChampaignInfluential Celebritystudent loan repayment estimatorRetirement SavingsHow To Build Creditdebt8 Rulesgay marriage ban end Florida Prime Rate Increase3 step financial road mapMoneyEmergency SavingsFinal GoodbyeFinancial Awareness Video FestivalFiscal Responsibilitydream schoolFree Debt EliminatorFinancial Solutions For YouBeautyCommunication Skills GiftsYoung Adult same-sex marriageWashingtoncnbc alarm clockdebit cardCollege of Veterinary MedicineSuze Orman's Money WarsNewtownInterestGoodbyeHoliday SeasonBankletter to suzeretirement accountsMost Influential Celebrities Listschool Telepictures


View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2015 Suze Orman Media Inc. All rights reserved.
 
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel