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08-27-2006, 10:48 PM
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Join Date: Apr 2002
Location: Canuckastan
Country: Canada
Posts: 1,390
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Right now the housing market is grossly overpriced. Ten years ago my parents' home was valued at less than 100k. Similar homes in the same area are going for 250K now. It may be different in a year but don't force yourself to buy when you'll be getting ripped off. If you feel you can stomach another few years with your parents or live in an apartment it might be worth it when it comes time to buy. The average homeowner is a baby boomer who is getting to that age where they don't want the hassle of maintaining a property. Give it five-ten years and the market will be flooded with properties.

Another course is to find a friend who works in mortgages and get from him a list of people behind on their payments. You can get a house on the cheap by offering the soon to be homeless something for their homes even if it is far less than what it is worth. But you'll need to be handy because most people who can't pay their mortgage can't pay for repairs either.

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