Reply #111: If you can wait [View All]

[ozone_man]

that would be better. Two years from now will make a large difference in price. Also, the economic picture and forecast will be clearer. It depends if you have or are planning a family, etc. If buying a house now, don't buy more home than you can afford worst case, i.e., if the economy goes all to hell. And I think it will.

I tend to joke about selling my house and renting until the storm blows over, but once you have a home, it's not likely that you'd actually do that. Now, if one owned a McMansion and were strapped for payments in the present economy, they might give some serious thought to escaping while there is still time. What was a seller's market is becoming a buyer's market, and eventually will be a foreclosure market.