If you can actually afford the mortgage long term…..buy
If you can only get into your new home with a suicide Option ARM …… Don’t buy
Oh, and under no circumstances do you buy right after the mother of all housing bubbles. Wait 2 to 5 years after prices peaked in 2005. From the peak prices, shave off an average of 30 to 40% for homes. Shave off 40 to 60% off condos.
Conversion condos… don’t touch with a ten foot pole for the next 10 years, and when you do, wear rubber gloves!
