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

get credit cardfull retirement ageprovider of financial supportForeclosurePersonal Financemoney vowsswitch to roth 401(k)death benefit needs for familyForbesCredit scorethree year car loanCivil RightsStudent LoanSuze Orman's Money Warscollege graduatehome loan credit score below 740 initial tax break Pay Off Debt Before Retirementgift grandchild IRA contributionmake saving a pleasureInfluential Celebrity3 step financial road mapcharges on credit cardUS Tax CodeFinancial Awareness Video FestivalGoodbyemonthly benefit Prime Rate Rise 2015gay marriage ban end Florida public service loan forgiveness programretirement accountsSuze OrmanBeautyraise insurance deductibleNewtownLTCteensTelepicturesCommencementprotect your familylong-term care premiumscostly insurance mistaketraditional vs roth 401(k)mobile appLove401Khome ownershiprent vs buycar loanCollege of Veterinary MedicineSandy Hook Elementary SchoolTeachUniversity of IllinoisGiftsprotect and provide for minor child Bank8 month safety netInterestFinancial Clifflower mortgage interestwould you decline a bonusMost Influential Celebrities ListtaxesSuze Orman ScholarshipEmergency SavingsSelectQuote.comletter to suze8 month emergency fundstore credit cardscommunity collegesocial workLifestyleFederal Funds RateBankruptcyHoliday50 over 50studentinsurancewives should be involved in retirementteens and moneypaying for collegeFinancialcouple financescar leasingemergency fund savingsone credit cardAARPFinancial Awarenesswaive home inspection bidMoney Marketpush yourself to save more for retirementalternative FICO scorestudent loan debtfinancial independenceLong Term Care shoppinghigher insurance deductibleFiscal ResponsibilityFundsEasy Life Insurance emergency fund children under 18Warner Bros Television Groupback door Roth IRAHoliday Seasonsuccessget over life insurance phobiaunexpected expenseRetirement Incomefour steps to retirement savings Student Debt CrisisFree Debt EliminatorYoung Adult cnbc alarm clockadvice for college graduatesLong Term Care premiumsJose Rodriguezinsurance mistakeno life insurance financially irresponsibleroth iraThe Suze Orman Showcalculate dependents annual income needs2015 financial roadmapSuze Orman spouse Kathy Travisno tax on withdrawlsAlarm Clockenjoy saving student loan repaymentIRA contribution gifted moneyignore 6 month grace period Holiday Shoppinghome budget after tax costget health insuranceWall Streetbest loan deal loved ones dependent on incomeautomatic withdraw to savings Gay Couplesmarriage financial responsibilityretain separate credit cardswomen outlive men!00% tuition paidFinancial EducatorLong Term Care Insurance FRAsave 8 RulesMoneyOverspending20% down paymentmaintain standard of livingdebit cardMotherPrime Rate IncreaseSandy Hook PromiseMoney-SavingCredit Card Interest Ratestudent loan repayment estimatorOne Wallet At A TimeFinancial Advicecar buying mistakesRetirement SavingsForbes Top 10Marlo Thomasmanage student loansFICO ScoreAccuQuote.compublic service career student loan repayment Baby Boomersmarriage inequalityHeartfederal student loan deferment Mortgage Credit Availability Indexlive below your meansPhyllis Shelton expert long-term carepermanent life insurancegraduationget the most out of social security financial argumentsshop online guaranteed level term policycredit reportsavingshome buying mistakesretirement plangrandchild summer job IRA contributionlong-term care same-sex marriageStudent DebtFICO credit score credit card mortgageincrease retirement contribution rateCredit Card Rate Increasespecial saving accountretirementdear suzehome buying budgetpercentage of women widowed 75-84do you need life insuranceAshley Springerconsider roth 401(k)grandparent IRA contribution Gay RightsCommunication Skills automate student loan paymentspresident Obama401(k) Contributionsbuying a carExhibitionfinancing car SpendingCory Bookerretirment savingsHow To Build Creditdon't do five year car loanpercentage men widowed 75-84credit cardFinancial Systemuniversal college accessstudent loan repayment planAARP Social security calculatorWashingtonPBS Specialprotect dependent GiftSuze approvedverify retirement plan with HR or plan sponsorLTC shoppingultimate compounding giftRichworst financial mistakeFinancial Gift Cliffmax employer matched 401(k) contributiontelevision hostFinal Goodbyebill paying prioritiesFinancial Solutions For You10 year repayment plan School of Social WorkSatisfyingschool University of FloridaChanging Livesterm life insuranceStock InvestmentsPost-Divorcesame sex marriage band end Floridadream schoolVeterinary SchoolCNBCInfluentialsGraceSave Us MoneydebtUrbana-Champaignyours, mine & ours

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