Question by Paul H: What is causing the housing market to go down?
I know this is stupid but what is causing the housing market to slump over the past months (or even years)? I see it on the news often. I’m not very knowledgeable in finance or the economy. I was planning in the future to buy a condo and is it worth it to buy one? A lot of people always say, “What’s the point? Just buy a house.”
Best answer:
Answer by Super Me
If you can afford to buy do.
Buying a house for a long term investment is worth it.
Just make sure that the minimun payments are not more than 30%-35% of your income so you can cope with the changing interest rates.
And make sure you have a loan that you are paying off the interest and the principle at the same time.
In the US alot of ppl are getting catch out because of the type of loan they have.
Because the interest rates are low in the US now it can be a good time to buy, but make sure that you can afford the loan if rates change. Consider a fixed rate for 5 years or so, so you know how much you have to pay.
Good luck.
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Tags: causing, Paul H, Housing, interest rates, housing market, down, Market <BR/>
