[quote=DWCAP]
I guess the real issue is that most of us were hoping for “our” time, a time when people who saved would be rewarded. But when is life ever fair? [/quote]
I am having a hard time figuring out why the prudent saver who is looking for a house for his/her family to live in is not being rewarded. If you have been waiting out the bubble and have been saving, your time is arriving. Recognize it.
Consider this, if you have been sitting out the bubble :
1. Prices down 25-40% in San Diego since 2005, currently at inflation-adjusted levels last seen in ~2001.
2. Interest rates are down to the 5% or lower levels.
Assuming prices have dropped by 35% or so, and mortgage costs have dropped by at least 20% for fixed rate mortgages. That is nearly a 50% drop in monthly costs for a comparable home.
If you have been sitting out the bubble, looking for an opportunity to prudently deploy your savings and are whining now about these circumstances, you cannot be helped.
