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

GoodbyeCommencementForeclosurePersonal FinanceInterestFinancial Systemstudent loan repaymentNewtownCory Bookercnbc alarm clockGay Couplesroth irapresident Obamasocial workteensFinancial Awareness Video FestivalFinancial Solutions For YouOverspendingMoney MarketHoliday ShoppingStock InvestmentsCommunication Skills three year car loangay marriage ban end Florida 3 step financial road mapSatisfying!00% tuition paidGay RightsCivil Rightsfour steps to retirement savings Suze Orman's Money Warsbill paying prioritiesSuze OrmanFinal GoodbyeBaby BoomersUniversity of Floridastore credit cardsRetirement SavingsExhibitionBankruptcycommunity collegeFICO ScoreUS Tax Codeback door Roth IRASuze Orman ScholarshipCredit Card Interest RateTeachsame sex marriage band end Floridahome loan credit score below 740 Marlo Thomas20% down paymentGiftLoveHow To Build CreditHeartpaying for collegeteens and moneyBeautydebit cardPrime Rate Rise 2015home ownershipFinancial EducatorAlarm ClockCollege of Veterinary MedicineCNBCLifestylePost-DivorcePay Off Debt Before RetirementInfluential Celebritycredit reportFinancial Advicecar buying mistakes401KJose RodriguezHoliday Seasoncar loanFinancialVeterinary Schoolletter to suzeWall StreetGiftsMoneyCredit Card Rate IncreaseFree Debt EliminatorSandy Hook Elementary SchoolYoung Adult student loan repayment planSandy Hook PromiseStudent Debt CrisisRetirement Incomemarriage inequality8 month safety netPrime Rate Increasetelevision hostStudent Debtdear suzeuniversal college accessSpendingFederal Funds Rateretirement accountsOne Wallet At A Timebuying a carUniversity of IllinoisstudentForbesFundsInfluentialsWashington2015 financial roadmapdon't do five year car loanSuze Orman spouse Kathy TravisSchool of Social WorkAARPGracestudent loan debtFinancial CliffAshley SpringerThe Suze Orman Showstudent loan repayment estimatorgraduationrent vs buyMoney-Savingfinancing car credit carddebtBankcharges on credit cardsuccesslower mortgage interestWarner Bros Television GroupSave Us MoneyStudent LoanChanging Livesdream schoolretirementCredit scoreschool Financial Awareness8 RulesEmergency Savingscar leasingSuze approvedFinancial Gift Cliff401(k) Contributionsemergency fund savingsPBS SpecialMotherForbes Top 1050 over 50Holidayretirment savingsMortgage Credit Availability IndexMost Influential Celebrities ListRichmobile appTelepicturesFiscal Responsibilitysame-sex marriagetaxesUrbana-Champaign


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