My wife and I planned to buy our first house in late 2004 then increasing home price in 2005 put us out of market. Now the market is slowing down as price starting to drop (comparing to the peak in 2005). We now have enough money for down payment and make more money to handle the mortgage. We feel that the longer we wait, the further home price will drop. But we are losing money in tax as we have been in the 30% income tax bracket. Thus, owning a house will give us some tax break. We are planning to buy before the peak time of next year (i.e. 2007) but we are not sure if the housing market will ever peak again in 2007. We are wondering if we can wait then when will be a good time to buy. We have very low rent. We are young and we will most likely not be in one house for more than 4 years due to the nature of our professionse. That is, we will be selling the house 2 or 3 years from now. Your opinions are greatly appreciated.
2006-08-31
07:36:51
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13 answers
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asked by
H_N
1