After more research, if we buy now we would lose over $36,000 over 7 years and thats with tax deductions, market going up (not down), reselling home fees. Market would have to keep going up also for me to only lose that much. I would be dumb to buy in this market even though we have been waiting 2 years for the market to shift. But if we continue to save $3,000 a month like we have been doing for 2 years and the market to come down, we could meet in the middle and not pay higher property taxes and PMI. It would still be better even if the intrest rates went up a whole 2% during the span. So we will keep renting and saving and not add to the stupidity of the outrageous market.
Who would ever think its cheaper to rent than buy? Haste does make waste. WOW thats a $36,000 loss even if it appreciated to $555,000 with $184,000 in equity in that 7 years. Thank you ALL for all your time for input i’m staying. 🙂
