Yeah, this would be my first house if I take the plunge.
Seems the argument is good for both sides. What I got from this thread is that it all depends on the PURPOSE of the house... if I plan to live there for a LONG TIME, then price doesn't matter cuz even if there's a bust, I'll unload 15 to 20 years from now.
Good point you raised re investment. I guess if its an investment--timing is everything. The more I am motivated by flipping it the more important timing would be.
Quote:
Originally posted by Plugger
I can't tell, but it looks like this would be your first house? IF so, then buy all means buy. In the long run you will do much better owning your home . . .
If you are talking about 2nd houses, then it is a whole differnet ball game . . .
Someon mentioned that when the economy picks up and interest rate rise the bubble will burst? Well, when the economy picks up, and interest rate rise, that will be because more people are employed. More employed people means high wages and more demand for housing. More demand means higher prices.
The fact that housing prices (esp. in CA) have NOT fallen during the downturn is a bad sign for affordable housing
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