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I just tried to refinance recently and was shocked to find out that my house is worth a little less than when I bought it in 2001. It was GOOD time when I bought, and in the years after the value had almost doubled at one point.
If you are new home owner, then its a good time to buy. House prices are low and so are interest rates. If you already have a property to unload first, then you're probably better off renting.
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