Sorry I was agree it takes many years to see any capital growth after buying a house then a long time after that to get it paid off and be able to rebuild savings. I think we should buy a home as young as possible.
International Level: Senior Politician / Political Participation: 188 18.8%
Age is a factor and because it is a factor you tend to get a lot of young couple making incompetent financial decisions, that was my main point.
International Level: Junior Politician / Political Participation: 100 10%
Young people maybe be rash but was it the poor decision to buy the house or the poor house they bought? I regret not buying in my early 20's.
International Level: Senior Politician / Political Participation: 188 18.8%
More than 25% of homes in county worth less than mortgage balance
A new analysis from MDA DataQuick shows that more than a quarter of all homes in the county are worth less than the owners owe on their mortgages. And nearly two-thirds of those who sold last year settled for less than previous owners had received. The study, performed at the request of The San Diego Union-Tribune, found that 14,595 properties sold at a loss during 2008, with a median decline of $160,000 or 45.2 percent of the previous price. Ref. Source 6
Are we seeing prices increasing or still a good time to buy? Those who have been saving for a long time are really lucky since you can get some nice houses for a fraction of the real price.
International Level: International Guru / Political Participation: 1089 100%
It depends on where you live, but as a country overall, the housing prices are beginning to stabilze. It is still a good time to buy if you saved up.
International Level: International Guru / Political Participation: 863 86.3%