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Old 06-05-2009, 01:33 PM
bajrangbali bajrangbali is offline
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bajrangbali has a spectacular aura about bajrangbali has a spectacular aura about
Default Good Analysis!

Good analysis there dude!
While no one can predict future, the least we could do is prepare ourselves for good and bad times.
IMO people should look at purchasing only if these conditions apply:

1) Current rent payment is more than mortgage+prop tax+other monthly fees for new home
2) Homes in relatively stable areas (where unemployment is not too high, diversity of job opportunities)
3) Homes whose prices have not risen significantly in the past 5yrs (anything > 40% since 2001..please stay away)
4) Planning to stay in the house for a MIN 2yrs

One would argue why buy now if it might go lower...
if above conditions are met..it would be a relatively safe buy and aboveall...people remember... time does not wait for anyone...we grow older everyday..make a decision regarding what we need for us and our family within the reasonable limits...go for it and enjoy it..
an old friend of mine always says...live life..love life...be life
and i believe she is right..
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