Quote:
Originally Posted by fundmark19
I think it also comes down to life style as well. Are most people who are doing these comparisons single? I for one could not live in a small condo down town. I all ready own a condo and have out grown it for my needs so it is now a rental. Being engaged and married in august with 2 dogs and child ( or possibly 2) in the next 5 years I would need a house regardless. So isn't it better to just buy the house now while prices were at their lowest since the boom and settle into a house that I love and can make improvements and changes to rather then live in a smaller condo down town. Sure I would save 80 bucks a month on my bus pass but I really enjoy sitting on my deck bbqing while my dogs play with eachother in the back yard.
again though I may be an exception to the standard.
And Shazam I was not trying to gloat I was implying why I may be biased on the issue
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One nit pick - you state that you should buy the house now due to the fact prices are at their lowest.
However, at the same time, many investment vehicles are also at their lowest price at this point. You may realize a 20% increase in your home price, but probably 200% if you invested that money last year (unfortunately, I'm not one of those people).
Frankly, the last two years would've been the perfect time to rent and buy stock, rather than buy property. This is not usually the case though, and even now the stock market and housing market have mostly recovered, where you'll see nominal increases every year once again.