Hi everyone, thanks for your kind words. I appreciate everyone’s advice and still am deciding what to do. I agree with everyone that things will keep going down – no one knows how far. Marion it is nice to hear from a possible future neighbor. You sound pretty determined to get the best deal out there, I am sure you will find one and pay much less than me. We have been waiting to buy since 2004 and have been in and out of rentals, I HATE renting with a family and have never been able to do some of the good things that come with home ownership like hang pictures with abandon and decorate my kid’s rooms. I am leaning towards getting the house because eventually prices will go back up so I don’t think (I hope) that if in 10 years I want to move somewhere else I would have a problem selling it. If prices really go down as low as you think, Marion, then I will buy a second fabulous house and rent this one out. Do you think rental prices will slide significantly? Because if a I can rent out this 5 bedroom, nice house that I want to buy for the currently going rates (1900-2000) then I figure I wouldn’t be cash positive renting it out but I would be even with my mortage payment. Hey, if we see 1995 prices maybe I’ll even buy some rental property and be a real piggingtonian becuase even though I may have bought before the bottom of the market I won’t be buying more than I can afford with a traditional mortgage and my credit score will still be killer.
