Yes! Latesummer2008 you are right. I bought my 1st house in 1993 and it was pre-foreclosure, so I got a good deal. If I bought in 1996, I might not get a better deal. Adding the inflation and rents, I might actually lose money to wait until 1996. If anybody feels the price is comfortable and find a good deal, you can think about buying. Nobody knows exactly when is the bottom.
Cashman, I am sick of renting also. But I still need to hold on it to wait for it to collapse. I didn’t believe that LA is still going up either, so I looked into it. I found that LA has very high pre-foreclosure rate, not foreclosed yet. The point is that people in LA can’t afford, but they take risk to buy. So, a lot of houses in LA may be foreclosed.
We all hope the price will go back to normal. Hope our dream will come true soon.
