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Sep 13, 2006 | 10:01 AM

#21

Rob x-7

Super Moderator

Joined: Feb 2002

Posts: 12,288

From: Amityville, New York

Quote:

Originally Posted by SpecialT' post='836814' date='Sep 13 2006, 09:24 AM

Wait a while, new housing sales in the US dropped 21% in July.

That market seems to be slowing down, wait for resales to do the same.

Save some cash! Seriously you don't want to be "house poor".

And being able to afford a house with the help of 2 others means . . you can't afford it.

So start saving now!

house prices have been coming down slightly, but interest rates are going up.

so its a no- win thing

seppuku- you generally dont want to be spending more then 40% of your income for your mortgage and most banks wont give you a loan over 36% anyhow

Sep 13, 2006 | 10:34 AM

#22

89 Rag

Senior Member

Joined: Jul 2002

Posts: 2,467

From: Portland, OR

Housing is still way out of control here in the pacific northwest, bungalow's are going for 200,000 and interest rates are the lowest they have been in the past year.