For me, if I hadn’t already bought and I was sitting on the sidelines, at this point, given all the lessons I’ve learned as a buyer who bought during the peek and now can’t sell my home….
I would only buy again if the prices drop to a level where:
a) The payment doesn’t exceed 30-40% of my monthly take home pay.
b) The house I can buy for that amount is in the neighborhood I want to call home, and if the kind of home that I can live in until retirement.
c) Rent is equal to or greater then my housing payment will be. Remember the good old days when they used to say “Why throw your money away on rent when you can own for less?” LOL
