Ready to buy a home? Looking to refinance your mortgage? Share your questions, dilemmas, and tips here.
Sooooo, . . . just received and read Clark’s “Will the Housing Market Crash?” article, so it got me wondering. While not being willing to pay the high prices for a home that the market seems to be demanding lately, I realize that it will just never be the same. There’s just no way to get a house at the prices that were available just a few years ago, . . . unless I move somewhere else, of course. My situation - I am in my late 50’s and have not been able to own a home for the past 6 years due, first, to a job change but then, lately, due to my wife’s declining health and the environment/amenities she needed were constantly changing up until her passing last year. As a result, we’ve been renting during those 6 years. My question - at my age, is it a good idea to try and buy a home and get a 30 year mortgage with the typical 20% down payment, . . . or should I just continue to rent?