Reply to What Age Should You Buy By?

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[quote=Anonymous]There is no age. My father, who was dispatched by his large corporation to work in multiple countries, bought a home when he retired, in cash, a 2M condo in his favorite capital city in Europe. Before that he'd always rented, or lived in the company's rented apartments.

However, if you're afraid that you will never be able to afford real estate... buy sooner rather than later. Prices will never go down in capital cities and their close-in suburbs. Right now the war in Iran stopped the decrease in mortgage rates cold in its track, so mortgage rates are going back up. But prices will never go down, unless we're in a recession, and then you could lose your job and not be able to afford a home anyway.

Your goal is to find something you can afford on your current income and assets. You will have to make compromises. I suggest finding a great neighborhood and buying something smaller, rather than picking a less great neighborhood and buying something bigger, to keep the value of your land stable over the decades. [/quote]

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