If you’re an investor, I’d say buy away. Prices and interest rates aren’t going to get any lower (though I wouldn’t buy investment properties on a mortgage). When things bounce back (which they will), you’ll make a fortune.
My wife and I are not buying anytime soon because we need to get out of debt first — but if we were debt free, we’d be buying ASAP.
SnakeDoc
I appreciate the optimism, however, may I ask on what basis you are confident that the American economy will bounce back?
Exactly what do you see on the horizon that will be bringing America back?
We are debt free including the house and are looking to get out of our 5 bedroom, 3 bath for something much smaller and hope to do so without getting another mortgage.
Without Dave Ramsey, we wouldn't be non-participants in the Recession.
Is'nt there a new home buying credit even for non-first timers? Does anyone know the Income Limitation on it?
bounce back ...., that was when there was air in the ball.
“Prices and interest rates aren’t going to get any lower “
You’re kidding, right? Price continue to fall and there is no trend to say they won’t continue to fall, but there ar eplenty of trends that say they will. If you are an investor, then you should know that.