If you want to wait until the FUNDAMENTALS are back to reasonable, then wait until that happens.
THE MEDIAN INCOME TO MEDIAN HOME PRICE IS STILL OUT OF WHACK.
If you want to have 79% of your net income every month pay the mortgage then go ahead and live that ball and chain life.
As for me, I will wait and take my chances. I rent in La Jolla for $1760.00 a month. My monthly nut to buy the place with 20% down (90,000)would be around $3500.00.
Has anybody realized this yet here? It is half the price to rent? Why buy? I will take the $90,000 and put it in precious metals and feel a lot better when I wake up one morning and my next door neighbor just foreclosed on his house because Qualcomm cut his job because people are not buying new cell phones for their spoiled kids this Xmas…..
