Don't Rush to Buy a Home!

Based on conversations and reading over the past several months, the general opinion seems to hold that the current environment is the ideal time to purchase a home. As I understand the argument, home prices have fallen significantly and appear to be bottoming. At the same time mortgage rates are near historic lows, which makes servicing debt on a mortgage relatively easier. Both of these observations suggest that now is an opportune time to buy a house. If only the decision were that simple. Deciding if now is a good time requires determining whether or not those assumptions are valid. So are they?

Read the rest at: http://bubblesandbusts.blogspot.com/2012/01/dont-rush-to-buy-home.html

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