[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]
We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]
Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…
Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…
That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…
The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂
