People can choose to do whatever they want, whether rent or own. I have read that the house prices might just decrease little by little, but nothing drastic. But I plan on living at my house for a long time, so I'm not too worried. If I was only planning to live there for a few years, then I wouldn't even bother buying now. But I want a house to have a house. We pay too much for rent. I don't think the prices can keep increasing as much as they have, but no one knows what can happen.
nervouschic
Posted:
Member since
Re: Annoyed
Glenda- you could not have said it better. We keep getting yelled out because we have not bought yet. I'm too scared. Too much other stuff going on (obviously).
A friend of mine just bought- but personally, I would not have done what they did. I'm glad they got a house and they are happy but taking an interest only loan at 106% financing is like financial suicide to me. They even said they dont know how they are going to afford it. More power to em'. I dont think houses will go higher-maybe just level off. But for all those people who did some creative financing just to 'get a house' will be in for a rude awakening when the rates go up. You just have to remember everyones finances are different...you never know what someone has, and hey its no ones business right?
We were told to do explore what they did, and when I said no way- they got annoyed with me. I'm not financially stable enough that if the bubble does burst and rates go up- so does the interest only loan payment!!! EEK.
