Fortunatly, I’m broke.
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I saw an article just now that claims that with the housing market the way it is right now, this is actually an excellent time to buy a second home.
I understand how, with mortgages being foreclosed right and left, there are so many homes on the market right now that the average price is dropping like a stone, but I don’t think I could make myself take advantage of the situation, assuming, for a moment, that I was in a position to be able to do so.
It’s kind of like why I don’t buy stuff from pawn shops. It’s too much like taking advantage of someone else’s misfortune.
Technorati Tags: home+mortgate+rates, buyers+market
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yea these are some crazy times… im really tempted to buy a house now since the markey is down, but i just dont know if i can afford it. Im enjoying my $500 a month payments, and would hate to have to start paying 1500-200 a month.
In Australia people who bought houses on a tight budget are finding it hard to keep up with their mortgage payments now that the interest rates have gone up. We have so many of them losing their homes every week. Thankfully we have gone passed that stage in our lives. We own our home and we are still working. The council rates have gone up so much that for home owners that could one day become a financial burden