Quote:
Originally Posted by Choker
So my married daughter is hell bent on buying a house. I have showed her stats of depreciation, mortgage tables, etc etc and still she insists. With 5% down the moment you move in you owe more than it's worth. Add in depreciation of about 8% or so and you are fucked.
Do you think it's a good idea to buy a house in today's market? I think it's dumber than dumb.
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Probably depends on the area, but where I'm living now, places are still pretty much going down. Maybe in another year or two it would be a good time to buy.
That said, it probably costs less to buy than rent in most places now.