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

Veterinary SchoolStudent DebtFinancial Awarenessteenscredit cardGiftLovepresident Obamastudent loan repaymentHolidayAshley SpringerPersonal FinanceHoliday ShoppingCNBCUrbana-Champaignstudent loan debtSuze Orman's Money WarsInfluential CelebrityFinancial Gift CliffSuze Orman ScholarshipStudent Loantaxesgay marriage ban end Florida Exhibitionstudent loan repayment planForbesRichTeachsame sex marriage band end Floridaemergency fund savingsHoliday SeasonGiftsdebtMortgage Credit Availability IndexSuze approvedstudentretirementHeartCory BookerCommencementFundsretirment savingsForbes Top 10Beautyschool Jose RodriguezCredit Card Interest Rateuniversal college accessFinancial Awareness Video Festivalstudent loan repayment estimatorUniversity of FloridaLifestyleFree Debt Eliminatordear suzeOne Wallet At A TimeGraceEmergency SavingsWarner Bros Television GroupRetirement Incomesocial workYoung Adult marriage inequalityGay CouplesMoney MarketTelepicturescommunity collegeNewtownmobile appFinancial Solutions For YouAlarm Clockretirement accountsPBS SpecialForeclosureWashingtonGay RightsStock InvestmentsFederal Funds Ratedream school50 over 50Student Debt Crisistelevision host!00% tuition paidSave Us Moneydebit cardFiscal ResponsibilitySpendingbill paying prioritiesAARPFinal GoodbyeFinancial SystemSatisfyingPrime Rate Rise 2015Financial AdviceRetirement SavingsCommunication Skills University of IllinoisHow To Build CreditCollege of Veterinary Medicineteens and moneyInfluentialsBankruptcySuze Ormanletter to suzeMotherpaying for college401KMoney3 step financial road mapMoney-SavingChanging LivesBankcnbc alarm clockThe Suze Orman ShowCredit Card Rate Increase8 RulesSandy Hook PromiseSandy Hook Elementary SchoolPost-DivorceOverspendingCivil RightsMarlo Thomassame-sex marriageBaby BoomersSchool of Social WorkUS Tax CodeFinancialsuccessInterestGoodbyePrime Rate Increase2015 financial roadmapgraduation401(k) ContributionsFinancial CliffMost Influential Celebrities ListPay Off Debt Before RetirementFinancial EducatorSuze Orman spouse Kathy TravisWall Street


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