[quote=SD Realtor]Scarlett yes I would say that if our international creditors continue to fund our debt then yes, rates will be kept artificially low. The secondary market for mortgages is essentially a socialized market backed by taxpayer money.
(…)Not sure if you lived here in the 1980s mortgages of 12% and higher were the NORM. If you have a big cashpile you are stoked. If you do not then you are screwed.
(…)
Keep your eyes open whatever you do.[/quote]
I am aware of those things. In my case, I don’t have a big pile of cash at all, just enough for a 20% downpayment. I am 40, have kids and would like to buy a home that I can afford the payment sooner than later. Renting where we like is not that much cheaper either. Not at the bottom, I know. Not the most secure financial state, I know that too. But life goes by fast, and it’d be nice to have a nice home. If I’d be 10 yrs younger and sans kids, I’d continue renting another 10 years if needed, and accumulating cash. But realistically, with kids, for us is very hard to save money at a significant rate (other than for college/retirement), so our downpayment won’t increase substantially in the next couple of years. That’s why I *might* buy in the next year or so while rates are low.
