Everything is so expensive, but I live and work here, ( live with family so no point in renting yet) eventually I would like to buy an apartment, there are soo many being built and its getting a bit overwhelming. will prices drop?? like below 200,000??? Even Studios are $200,000. Should I wait? I'm being told to wait til the end of 2008.
2007-08-22 11:21:43 · 4 answers · asked by zonkietheterrible 2 in Business & Finance ➔ Renting & Real Estate
2010
2007-08-22 11:59:58 · answer #1 · answered by Mike 6 · 0⤊ 0⤋
If the payment on a $200,000 mortgage is $2,000 and the same unit can be rented for $1,200 I wouldn't buy it . However, if the rent is close to $2,000 then maybe .
The big problem is that it may be a declining market, so I would not be in any hurry to buy .
2007-08-22 11:51:06 · answer #2 · answered by Sin nombre 6 · 0⤊ 0⤋
Wait and save for down payment. Late 2008 to early 2009 is the general consensus.
2007-08-22 11:47:55 · answer #3 · answered by CHARITY G 7 · 0⤊ 0⤋
wait
the sellers aren't desperate yet. they will be.
:-)
2007-08-22 11:32:28 · answer #4 · answered by Spock (rhp) 7 · 0⤊ 0⤋