I’m not a fence sitter, I’m totally on the sidelines. I’ll tell you why I’m not moving yet, although I am a bit more intrigued lately.
Bugs’ post applies to yours (Ground floor? think again). The lower priced segmented market may still depreciate into 2009, but the figures are much smaller – how badly burned could one get if you purchase at under 150k? Probably not much.
Right now I could feasibly purchase a 1 bed / 1 bath property and my total monthly PITI-HOA would equal my current rent cost. I believe this will be a buyers market for at least another 12 months conservatively, so I envision that I can purchase more square footage the longer I wait. And my supply of choices is increasing every day. And they’re upgrades over last month’s choices, in quality and location. I see no reason to pull the trigger now, comfortable and happy as a renter.
