Reply to When will home prices starting going down again?

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[quote=Anonymous][twitter] mi[quote=Anonymous][quote=Anonymous][quote=Anonymous]They won't.

But, I do think they plateau for a while.

I honestly do think the most important thing for first time homebuyers or young homebuyers is to forget the idea of a "dream home" and just get your foot in the door.

That starter home that you're worried you'll outgrow will provide good equity for your next home when you actually do need the space[/quote]

Not sure this is such a great idea right now. The prices are not going up enough to compensate for transaction costs and interest payments. It will be hard to build significant equity in 5-10 years. [b]You can currently rent for much less than you could purchase the same house.[/b] If I was not owning already I would rent and invest. [/quote]

Can you, though?[/quote]

Yes, absolutely. We were considering renting our house and renting in another neighborhood. The house we were most interested in sold recently for 2.3mil and eventually got rented for 7200 after a month on the market. The mortgage for the same house would be almost double that and most of it would be going toward interest. [/quote]

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