Quote:
Originally Posted by DementedReality
so lets say i am leaning to agree that the market is going down right now. i have a house that i bought in 1997 and want to upgrade to a nicer house.
my own house is worth less, but if it is going down each quarter (as some are suggesting) why shouldnt I flip now?
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If houses do go down then yes, but can you sell now? Moving to a temp place etc is not what most people want to do either. Plus there is a risk that houses will not go down, but up instead. It's quite the dillema.
I want to upgrade to something in a more mature neighbourhood, but I'd have to double my mortgage to do it. Just not worth it. Just 5 years ago similar upgrade would've cost 30-40K. Mistake I made was that I didn't buy bigger then, but then again, who knew houses would more than double.