Posts from November 30th, 2010
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30
Buying a Home Now Is a No-Brainer
You might not make a ton of money, but you're unlikely to ever score a better deal. Is now the right time to invest in a house? Trick question. Actually it's two questions. Question 1: Is now the time to buy? Questions 2: Is buying a house a good investment? The first answer is easy: With a few exceptions, if you have 20% to put down and good credit, now is a great time to buy. That's been the case all year, and I'd argue that we're probably closer to the end than to the beginning of the really great time. Let me explain. Back in January home prices had dropped 28% from their peak. More important, interest rates were at historical lows. By locking in a mortgage for 15 or 30 years on a value-priced home, you were getting an incredible deal, even if home prices decreased. At the time I thought that prices and rates were more likely to rise than fall. I was half right: Home values have b...
