Quote:
Originally Posted by skudr248
Really in a tough spot with this market, and what could potentially happen. I just had a seller agree to a 5% discount on a home I am wanting to purchase, now with the uncertain future with my job (contractor) in this market and the risk of losing a crap load of equity if the housing market dips a lot. Ugh... been looking to finally purchase my first home, and been lurking and waiting 2 years, and now this. My heart saids its time to purchase, my mind is all over the place, my conscious said's wait but this place is my dream place and don't want to let it slip away. ####.
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http://business.financialpost.com/20...nventory-soar/
House prices will drop more before they stabilize, imo. Maybe wait a couple of months and see if your job is safe, I'm sure there will be nice places available later on, probably for a discount. If you are buying a home but you can't afford the payments for at least 6 months after losing a job, then I would say you haven't saved enough money. Of course this is a non-expert opinion.