Buy a house now or wait

[CDB]

I knew I should have read it instead of just skimming.

It should be required reading.

 

[Ribo68]

It is a buyer's market now. If you're gonna live in it for awhile and you can swing the payments then buy it. Although, make sure you get a FIXED rate mortgage. If you were just gonna flip it to try and make a buck, then wait. Remember, it is rarity that gives something value. And since God isn't building anymore land and the population is exploding, it will become even more rare.

 

[Sunder]

Wow! Is the housing market really that much different right now in the States than in Canada? The market here in Canada has been insane the last few years, with houses literally doubling in price. I would have said buy ASAP because the prices are only going higher.

It's definitely a huge buyer's market where I live, where the number of buyers by far outweighs the number of sellers. People are even having a hard time finding a crappy apartment to rent. Unless you're willing to go over the list price by at least $20,000, be prepared to be outbid repeatedly.

I was going to put my house on the market this summer and leave town until I was given a last minute movie offer I just couldn't refuse. I fully expected my house to be sold within the week, and was expecting a very good "return on investment". Now I'm not saying a house is truly an investment nor an asset, but in many cases here, there is a lot of profit to be made in the sale.

Then again, the whole world is going crazy again. At one point, the Canadian dollar was worth barely half of the US dollar. Now it's worth a few cents more - something I never expected to see in my lifetime...which while kinda sounds good for Canadians, it's not necessarily that good in the big picture of things.

So again - I admit I have zero knowledge of your market - but my initial reaction is it's better to buy than to rent. (Although the whole gf thing is another story. I originally bought my house with my ex-gf. When we broke up, I was able to buy out her half - but lawyers complicate things a lot. I'm just lucky my ex is a really good person).

 

[Sunder]

Because your dollar is worth more than our dollar, you will be more inclined to buy US made goods, because they would be cheaper. So we will be exporting more to you and importing less from you because your goods are now more expensive. Your production takes a hit which could lead to unemployment. yeah something like that

Yep...I'm most personally concerned with a slowdown in American movies being filmed in Canada...it was our dollar and incentives that helped a lot in the past.