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Considering everything that is going on right now, would you buy a house if it was cheaper than renting?
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Reflecting Pool |
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That was my thought too, about building equity. Just concerned because of all this shit that seems to be hitting the fan, and because of all the banking troubles.
Quoting: Anonymous Coward 318314Just make sure you can pallette future rate hikes. THe current levels will not stay this low forever so plan for that and you are fine. See if you can find a broker who will offer a variable with free parachute clause as then you'll have the best of both worlds. This means you can buy on a variable and ride the these amazing low rates but if things over-correct to an unfloatable high rate, you can "parachute" into a prime-related fixed mortgage without penalty.
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