[quote=dd123]Yeah, but with all these govt intervention, I don’t see the prices going down though I don’t see them going up either…[/quote]
If you make $140k and you feel priced out, who the hell else is buying a home as a first-time homebuyer? That’s the only question worth asking. All the other stuff is just confusion.
The govt can only push on a string long enough. The blog link I posted above shows prices are turning down again, in spite of all the stimulus.
Don’t worry. Ask yourself what sounds most likely:
1. Housing prices suddenly start shooting up 10% a year
2. Housing prices stay more or less flat
3. Housing prices begin to weaken again and trend down
If it’s either #2 or #3, this means inflation will be making housing cheaper for you. So keep diligently putting money in the bank – as much as possible – until you feel you can buy a home in a decent area. “Cheapest home in the best area” and all that.
In the meantime, there’s some nice stuff for rent in Scripps Ranch and 4S Ranch, both very nice communities with great schools, for under $3000 a month. If you’re renting at $3k, making $140k, you should be able to save $2k/month if you budget.
