Reply to When will home prices starting going down again?

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Reply to "When will home prices starting going down again?"

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[quote=Anonymous][quote=Anonymous][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]

No. Not in my part of NOVA anyway. [/quote]

Can you quote a specific example of a rental that would cost less in a monthly mortgage payment if purchased at current interest rates? In most cases renting right now is a much more reasonable decision. This was not the case until the recent increase in rates but now it is. [/quote]

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