Viewing a single comment thread. View all comments

teknic111 t1_j5tzsh6 wrote

Reply to comment by timmahfast in The inventory of houses suck by KindaEgotistical

Still a gamble. If home prices do drop, like everyone here is saying they will, then there will be no equity in that condo. It may even have an underwater mortgage.

4

timmahfast t1_j5uay5l wrote

If they take that gamble they have a home they can afford, even if prices drop. If they don't take the gamble and house prices continue to creep higher they will be stuck renting and it will take them far longer to buy a house. And if home prices drop more than 20 percent we're all probably in big trouble no matter what we own.

4