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Re: Is now the time to buy a home or wait it out?
If you only plan to be in the same location for five years....fagetaboutit. There's more downside vs upside in the near future (IMO of course) What do you do with depreciating money in the interim? Who wants to buy a new tract house in a ghost town subdivision? What if $4 gas is the new bottom wrung?
I've lived in my house for 22 years but don't think I could afford it even at todays depressed prices...at least not when you factor in all the expenses involved in being a self landlord. I expect prices (at least in my area of the country) to go down quite a bit further just to be affordable to the average wage earner.
Mort
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