Quote:
Originally Posted by Mr.HappySilp
Not trying to shit on fellow RS but this thread have started in 2012 and now it is 2104 and there still haven't been that bubble burst. I mean sure price might be stable or decline but I don't see a burst anytime soon.
Interest rate seems to be down and I think it still stay down till next year. I think if people wants to buy a place to live in for the next 15+years I don't see the reason not to go into the market. Real estate is meant to be a long long investment (10+years). With renting you are always renting, but if you purchase after the mortgage is paid off, all you really need to pay is starta fee (assuming is an apartment, town home) and property tax.
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the timing to buy the largest purchase you'll ever make is very important even if you are going to live in it for 10+ years. between low rates or low prices, i go for lower prices every time. the difference between having a mortgage and renting is that one you are paying the bank where the other you are paying the landlord. except with mortgage you are locked down but with rent you can pack up and move anywhere you want.