Jeff B.

well, what's the point? If 8 grand was enough to get you to buy a house, then you would of done it this year. For it to be effective, it has to change in some way to stimulate in a different way (ie easier to use as a down payment, not just first-time home buyers, more money, etc.) - Wed Aug 5 2009, 08:50

Vicki, I disagree. Dan was saying if you can plan on staying there 30 years - go for it. If the person plans on staying there 30 years the minor market fluctuations over the next few years doesn't matter. I'm not saying your assessment of what "caused today's problems" is wrong, but I would also add that a big part of the problem was that people looked at their homes as an investment first, and a place to live second.

Every new car that get driven off the lot goes down in value but people aren't ditching their new cars all the time... because people buy the car to use - not as an investment. - Thu Jul 16 2009, 20:27

I'm not a realtor, but I just bought a house and thought about this a long time. First of all, I don't consider 10 years a short amount of time... but I really believe the value in owning a home is in staying there a long time - the longer the better.

So, IF you can afford the home you would stay in longer, I would get that one - But you have to be able to afford it in real life, not just on paper. It's okay if you're a little tight, but if you're going to be up at nights wondering how you're going to pay the mortgage or not be able to afford to go out to dinner once in a while, it's not worth it. On the other hand, I believe we're about to hit a stretch of big inflation, so what's $1000 this year might only seem like $700 in a few years, yet assuming you have a fixed rate your mortgage, your monthly payment will remain the same. I also feel it's kind of a bad sign if you're already planning on moving out before you move it. And while 10 years is a long time, if you move out after 10 years, you'll probably be ready after six. - Fri Jun 12 2009, 07:03

I just got one. It wasn't hard, just a little slow (we signed the contract march 28th, closed may 19th). How easy it is may depend on your credit history and your debt-to-income ratio, (obviously I don't know yours)... - Tue Jun 16 2009, 20:20