Quote:
Originally Posted by DementedReality
sounds reasonable ... but i have no idea what it means. lol
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Basically you need to determine if the % of price drop in the upgrading housing you're considering is the same or less than the % price drop of your current home.
If the upgraded property has fallen by a higher percentage than your place has for example, the difference in price between your house and the upgraded house is less than it was. If the rate of price drops has been the same it still costs you less total dollars to get into the upgraded place (ie 10% off 600k higher end house makes that house 540 now and say 10% of your 400k house makes your house 360 now...difference today is 180 verses the 200 it used to be). But if the upgraded places are only down 5% and your place is down 8%...than it's costing your the same or more total dollars to make the upgrade.