if you can buy a house now do you think today is the best time. why and why not?

@jairgirl (2877)
United States
March 19, 2008 10:00pm CST
with everything that is going on right now in the market , recession, interest cut and all that. do you think it is the best time to buy the house now or wait till 18mo when you can really see the effect in the market. i asked this coz we are checking some houses and when i checked for the mortgage they told me that right now is the best time to buy one specially if you want to apply for the 0% down. skeptical as we are, i want to know your side of the story and some inputs for us to think about. not that we dont know what we're doing, it's just that it is nice to hear some point of views to weigh on. last week we checked this house and the price is lower about 10k than what i saw tonight. i thought after hearing the fed cuts another interest rate it will boost the market to make the house price stable but to see it go high for 10K it's just dont make sense. you have interest cut but you raise your price so the cut just goes there. i like to watched the market and understand it more, i am not particular with it and like to read about it and watch news so it can help me grasp ideas and see stuff not just in my area but around US as well as all over the world. anyway, any help and clarification is appreciated. thank you and takecare!
1 person likes this
3 responses
@youless (93016)
• Guangzhou, China
20 Mar 08
I don't think right now it's the best time. As the house price is really so high here. And lately the stock market starts to drop, so I wonder there will be a big dropping for the housing, too.
@jairgirl (2877)
• United States
20 Mar 08
not sure why you send it 3x but im not complaining! it happens to us a lot when we are there. i have heard there is a meeting going on in beijing right now that causes to disrupt the internet service for a while. just wonder if you know something about it (dont get me wrong i am just giving my question based on your profile location) have fun!
@youless (93016)
• Guangzhou, China
20 Mar 08
I don't think right now it's the best time. As the house price is really so high here. And lately the stock market starts to drop, so I wonder there will be a big dropping for the housing, too.
@jairgirl (2877)
• United States
20 Mar 08
you must have your son with you coz you hit your send button 3x, hahaha, im just kidding you! takecare!
@youless (93016)
• Guangzhou, China
20 Mar 08
I don't think right now it's the best time. As the house price is really so high here. And lately the stock market starts to drop, so I wonder there will be a big dropping for the housing, too.
@jairgirl (2877)
• United States
20 Mar 08
if you really live in china (based on your profile), then i dont think the situation is same out here. we live in china for 5yrs and all those times we never see houses price going down instead they are sky rocketing since we arrived there. we checked some houses in shanghai before coz we think it's a good investment but the fact that the rules and regulations there is very different than ours makes it hard to buy one specially talking about US$1 million for a 2400 sg ft. condo is retarded for us (we dont have that money, not even close - just to clarify) we leave china last year and looking back on the house prices in beijing is extremely ridiculous, i guess coz of the Olympics this year. i dont think that the stock dropping will affect the house price in china, we are told by an economist there that it may take at least 10yrs before the house price drop will take effect. not sure, but not buying a house while we were there is the smartest thing we've done i think beside buying our dog, hahaha! thanks for your input. takecare