“The Mexico reference was just to illustrate that if you owe money and there is inflation, wages eventually go up and your loan is reduced.”
OK first the loan is not reduced. and if your wages go up you can still afford to buy a home. This argument for buying is nothing more than the same “homes will appreciate” argument that was used to sell homes during the bubble. Lets not forget where we stand right now. Home prices are comming down and wages have a long way to go to support it. We are not on the cusp of “wages rising” enough to support current prices.
Do the math, it will tell you when it is a good time to buy. And in a few months when you are wondering if it is a good time to buy yet. Do the math again!
