I had the additional predicament of having to buy when the tax credit had bumped up prices about 30-50k in CV if I wanted the lot I got, and most or all of that bump is gone already. But that’s a bit less than 3-5%, so if our predictions are correct, we’ve got a ways to go.
I, too, waited years and years. I, too, kept thinking prices would correct fairly soon. Every time there was something in the news that would seem to cause prices to fall, I’d think, “here we go.” But it kept not happening. Of course, at the time, that was frustrating. Now, of course, it’s encouraging. Prices are pretty much where they were before the tax credits. We’ll see if they continue down from here.
Anyway, my point, if it’s any consolation, is that, after a while, it’s less worrisome, for me, anyway, than it is when you’re actually plunking down the money and signing for a loan. Even though my outlook hasn’t really changed. I still think there are further declines in the future, and I still think it’ll be a while before I break even and have no future declines in store. I don’t think it’ll be 20 years. I suppose that’s possible, but I think that’d have to be a pretty unlikely “worst case scenario.”
My outlook hasn’t really changed, but I don’t worry about it much or come around piggington as often or think about it much at all. I just enjoy living here with my family and not having to worry about timing it anymore. I imagine it’ll be the same for you. Congratulations on your new home and good luck.
