Kincella,yes i rent, but, I have enough cash to buy a house out...

Kincella,

yes i rent, but, I have enough cash to buy a house out right.

I will buy when its cheaper as I dont want to waste the money and when i dont need to actually own a house, I live in a house 2 years old so its as good as owning my own new house, at this present point of time there is no financial benefit buying, there is financial benifit renting.

and at this juncture i may move in the next few years.

WBut my point is why invest in property when its about to fall? the idea is to buy low, sell high..

if you was around when the interest rates were 17% you should remember the house prices taking a tumble

Remember USA is ahead of us in time on the housing cycle, i think they are at a 10 year low now! lol

The fact is, there is a credit crunch, its going to get worse over the next 3 years this is a fact, not speculation or a maybe, it is a known fact that what happend last year is still rolling and will take another 3 years before it all ends, all the indicators are there that prices will fall so why take the risk? a smart person locks in their profit on a high and then waits till the next low and buys in again.


I am not talking about the house you live in, i am talking about investment property. Your home is only a problem if you over borrowed what you cant afford when interest rates start to hit average rates or higher.