Should you believe real-estate agents when they say it's a good time to buy a house?

Email us at:

"In all my 63 years I have never seen a time of so much hot air blown about by so many people. This country is so out on a limb, led largely by the desire to be GREAT, BIG, RICH, MORE THAN WE ARE, RICHER THAN WE ARE...fabrication upon fabrication, financial and otherwise, but what is underneath is ....  The ground we are all going to land on, and have to stand on...The wages of this country haven't been sufficient to support the house prices charged the last 10 years by any means. What people have without going into debt is WHAT THEY REALLY HAVE. And that goes for government and businesses as well. It's unfortunate for all of us that the Emperor has no clothes, and houses don't have the value appraisers were forced to say they had, pending unemployment. These inflated prices, and inflated value mortgage bundles were all to serve the wealthy few, and this country has suffered from the desire to be rich quick all along our history, and every so often we go off a deep end and do something without integrity to get rich; exploitation of other humans has always been a part of that story.  A few years ago, Sir John Temptleton said we could lose 95% of the value of real estate in the coming crisis....so hell yes we shouldn't buy now. Disgusted with us all, I remain, disgruntedly yours.. -  Penny K

"I think Jim Cramer did us all a big favor with his analysis of the housing market in the last few days. His advice 'not to buy a house right now' was great, for speculators. The problem we have in the real estate market was started and will end with the demise of the speculators. Investors look for a reasonable return on their investment over a reasonable period of time, speculators look for spectacular returns in as little time as possible. If you think about Jim's comments, people who take his advice will end up renting instead of buying, which means that investment real estate, apartments and rental units, will do well as people avoid buying. When the rental units fill up, rents will begin to rise and the prices of 'investment' properties will improve because their rate of return will be improving, at a time when the rest of the economy may not be doing so well. Not everyone enjoys renting and those people who want their own home will pay the price because they are not interested in 'flipping' and take a long term view of the situation. It wasn't until recently that people started to think of their home as an 'investment' and this is where people went wrong. It is no more of an investment than jewelry, why would anyone buy something like jewelry when it is consistently marked down 50% or more in the malls? Now show me a woman who wants to give up her jewelry because it is a bad 'investment.' That is not an investment either. My guess is that Jim Cramer owns his home, but even if it is going down in value he probably isn't selling it, as he would a stock that he thought was a bad investment. We all have to live somewhere and I like the idea of having a home to call my own, it is not for sale." - Marty L., Florida

"I cannot understate how irresponsible it is for Kramer to generalize and carelessly throw his weight around by recommending to the general public not to buy a home! There should be more than ONE criteria (making money) when these statements and decisions are made.To me this careless 'blanket statement' makes him as bad or WORSE than the people he criticizes himself." - Zeke P.

"My experience as a 1st time homebuyers has been atrocious. Looking for a house the last several years. Trying to buy a house but competing against dopey buyers using toxic loans has been a nightmare. I was out bid so I gave up. Now things are looking up as prices slide and the realtors and NAR kick, scream and yell saying it is a good time to buy.  NO IT IS NOT A GOOD TIME TO BUY NAR. PRICES ARE TOO HIGH AND UNAFFORDABLE. THEY NEED TO DROP 50% IN BUBBLE MARKETS ACROSS THE COUNTRY. Listening to these unethical realtors I would have dove in head first buying a house at any price. They never cared about me, my family or the financial ramifications of buying a house. The NAR is a sleezebag organization that works against buyers. They do not care if you get a reasonable price. If I put a bid in they would try to talk me into bidding more. I say screw the NAR and realtors. They are not to be trusted for homebuyers." - Ralph

"Jim Cramer, I can't believe that you made a comment so irresponsible and harsh. It will continue to crumble the real estate industry. You and the media are destroying the real estate market. I have been a licensed real estate professional in NE Florida for 12 yrs, and yes this is the worst market anyone has seen in years nationwide. Your comment about NOW IS 'NOT' THE TIME TO BUY, only quantifies your POOR JUDGMENT. I HAVE WATCHED YOUR SHOW FOR YEARS AND IT HAS PROBABLY HELPED IN MY LONG TERM INVESTMENTS. But, real estate investment for most people is for owner occupied home owners. For those who invest for speculation, there are risks as with all investments. I would appreciate if you wouldn't continue to bad mouth my industry which feeds my family, it's tough enough out here without your irresponsible comments.  I am NO LONGER going to watch your show, and I will personally encourage the other several thousand other Realtors in Northeast Florida to do the same. You need to recant your statement with the more positive aspects of real estate purchases for owner occupied purchases. Homes prices are significantly adjusted since the heyday of 2005 and early 2006, for the average consumer NOW is the time to buy. Please make a positive comment your next show." - Barry K.

READ MORE COMMENTS