Matt from Queens

How Much Further Will Housing Fall?

Folks, let's use a bit of common sense here and put things in historical perspective. Then, let's make a trade.

Common sense: When people can afford to purchase a home, they will. A home is going to follow the same demand and supply law that everything else does-prices and/or mortgage rates will fall until demand increases.

Historical perspective-this is obviously not the first time that housing prices have fallen. People bought before even though prices were decreasing. They will again.

Trade-you cannot "lose" money buying a house if you are paying rent. If you are living rent free somewhere-then yes, you can lose. It is always better to purchase a home then it is to rent. You are 100% assured of losing money if you rent.