[quote=waiting for bottom]I am in escrow right now in SEH. I rented here for two years – houses have dropped about 30% since.

I am buying becuase I can put 20% down and still have enough reserves to live for 6 months. That does not include tapping IRA, 401k, etc. That would be terrible but keep me out of the soup lines. In theory, I also have a 6 month severance from work.

My payment is such that I could afford a 1/3 pay cut and still live fine. We wife is a teacher so insurance is not an issue.

Market may fall another 10-20%, but we are in for 15 years and will rates ever be lower?

That’s why I bought….feel free to rip away…[/quote]

Congrats….What happened to the waiting_for_bottom is in escrow post? 🙂