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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (6318)	10/28/2002 10:14:51 AM
From: maceng2	Read Replies (1) \| Respond to of 306849

There might some dangerous times NOT to buy it as well I agree with what you say. If interest rates were high, and the price of houses has fallen and stabilized, now would be a safer time to buy. But interest rate are low, and we have seen house prices appreciate far faster then wages have gone up. Even if you get a nice fixed rate, you still may lose money if house prices implode. If you like your area, can afford the payments...no big deal. Property is in such demand over time, any transient imbalance of house value will correct to the upside. If you buy at the top of the market, and interest rates go up, and the value of houses go down (as a direct result of increasing interest rates) and you lose your job and have to move or select another job with a lower wage... Then you are up the proverbial creek without a paddle. .