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09-13-2006, 10:01 AM

#21

Rob x-7

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Join Date: Feb 2002

Location: Amityville, New York

Posts: 12,288

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

09-13-2006, 10:34 AM

#22

89 Rag

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Join Date: Jul 2002

Location: Portland, OR

Posts: 2,467

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.