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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Well I'm in Denmark and circumstances forced me to buy a house in 2007. That has cost me AT LEAST $200.000 in losses if I were to sell today, so I don't.
But at least in my country, if I was outside the market right now - I'd strongly consider getting in, since prices in many areas are slowly starting to rise again.