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[quote=Anonymous][quote=Anonymous]When the rates were very low, it was actually cheaper to buy than to rent, with the tax benefits of ownership. But if the house price is high, interest rates are high, cost to repair/replace things are high, it is much cheaper to rent. If I pay $20-$30k/yr to rent, I have no repair costs or upkeep costs, more free time and I am able to travel easily- lock the door & leave.

Like other pp, I am waiting to find the right house at a fair price. ( If you paid $500k less than 2 years ago & did nothing, then put it on the market now, I will not buy it & neither should anyone else)[/quote]

It is the opposite. When rates are very high best time to buy. I bought my first house in Feb 2000 when rates were 8 percent for 280k and put down 120k. Leaving a 160k mortgage.

If I waited till 2004 my house was worth  $550k with 120k down would have a 430k mortgage.

Instead I refinanced in 2002 and paid off house in 2010.

The house price is key not rate. A high rate is lower mortgage balance. [/quote]

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