House price colapse starting

[oil&gas]

Time to buy a house yet? Lol

If I had the same decision to make I would consider
first how much interest I was going to pay. If I bought
my dream house at a price of $2 million I'd expect to
make an interest payment of more than $60,000 yearly
for the $1 million I needed to borrow from the bank.

If I had too much money to have to take out
a mortgage I probably wouldn't care where
housing price is going.

 

[Butler1000]

We just did our last renewal, 4 years at 5.3% and that included rolling in a renovation credit line. We structured it so we pay about the same we were paying on both before, with option to lump sum payments every year of 10%. Depending on room after savings we may have a bit to do that.

No CC debt so its a load off my mind. And our incomes are more than enough to handle anything that comes up.

Im hopeful of selling in five years, but the market and world events will dictate that.

 

[Bigdaug]

Prices will probably fall 15-20% by this time next year. Still way over priced.

They've already fell more than this in most areas.