Quote:
Originally posted by Frank W
Actually, you're already seeing the effects of the stock collapse in the rise of the real estate market. It is viewed as a safe haven for cash fleeing the stock market. However, this is a bubble as well--specially in California. My guess is that in 3-5 years if not sooner there will be a real estate crash if the fed raises interest rates and cripples first time buyers. This will trigger a chain reaction upwards. Seen it before -- 1991 to 1994 in california, beverly hills homes went down to as low as 50%.
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In my language, please? Bottom line, I'm sick of putting $1,200 on rent every month when I could be putting that same money into a mortgage instead, and be building an equity all along. So I want to get a house, condo, or whatever else that would be better then renting. Should I wait to see what happens, or try finding a place whenever is most convenient?