Today I decided to look at a couple of houses. I had a moment of weakness where I felt I should just buy a home and get back into the market.After seeing some of the overpriced fixer-uppers out there I can tell you that I am even more resolved to stay the course and wait it out.
I was talking to one of the neighbours in a potential neighbourhood that I was looking in. One thing she said stood in my mind, "I believe housing is going to bottom out. Who will buy these houses at the prices they are being listed at? Who can afford them?"
I would love to buy a house right now. I like being a home owner, but I get such a sick feeling when I see some of these homes....... that I just can't do it.
3 comments:
Thanks for your support, bc_cele. It's amazing how many people out there are thinking the same thing about the current situation of housing.
I always think to myself, "Would I over pay for a used car?? So why would I for a house?"
Who will buy these houses at the prices they are being listed at? Who can afford them?
And there you have it. The Emperor has no clothes.
And speaking of cars: who would buy a car if the payments were twice as much as renting the same car? Nobody, of course.
And I think you have a great blog too, and you'll see more viewings in the New Year. Perhaps this blog can be the home for the out-of-Vancouver crowd, as the Victoria blog seems to have disappeared.
Just out of curiousity - where or what were you looking at? Also... where there the crowds that once jammed open houses?
More detail would be great...
I'm also patiently waiting and will wait it out long term... renting in a shared accomadation paying dirt cheap rent and will be looking at how to best invest my savings over the term of the down tread... feels so much better seeing money saved rather than forked over for overpriced and overstretched mortgage
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