Funny how you claim to always understood me, yet you seem to be the most viscous here when it comes to nit picking my post and attacking me.
50% haircut from here is an extreme case. I’m not denying that. But as I’ve said before, if my mortgage continue to be less than my comparable rent, I would still be OK with it. I don’t plan to sell this house, that’s why it’s OK with me if it dip for a few years. For those who do plan to sell in the next 5-10 years, they should definitely consider the possibility/probability of not even breaking even when they need to sell.
Were those questions directed at me specifically or just the questions one should ask themselves before they decide to buy? All of those questions you just asked are the questions I asked myself long before I decide to purchase.
One should properly assess all the probable scenarios and what’s the probability of them happening. Then make their decision based on what they think would happen and would you still be OK if a different scenario occur. Everyone is different and every area is different. No one here can make decision for you. Only you can do that, since you’re the one who will have to live with that decision.
One other thing you have to consider is, what you think is a reasonable probability might not be reasonable probability for me, and vice versa.
