“The key is having a stable income in that area and that is going to be bigger assumption than most think it is in the coming years.”
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I think we are going to see the economy effect alot more people moving forward – salary cuts, or no raise, or job loss, etc, all resulting in increasing pessimism regarding income and stability. You can be looking at a fantastic price on a home with a historically low interest rate, but if you are really concerned about job stability are you going to pull the trigger and buy or are you going to remain in a holding pattern until you feel some stabilization?
