Around here, strangely, there really isn't a housing bubble. The houses here are remarkably inexpensive (I mean, for example, that house No.1 is $69k, and house No.2 is $79K, and even for the south, where housing tends to be cheaper than anywhere else, that's excellent for a city of this size).
Another thing working in my favor is that the current mania for renovating old houses hasn't well and truly caught on yet here, though slowly old house sales are gaining momentum. So I think--though I'm no expert--that I'm well-placed to buy a house and have it pay off eventually (especially now, before interest rates start going up again), though the negative equity aspect is something to consider, especially if the government decides to close the major air force base here, which of course is always a danger and of course the AFB is our biggest employer.
And God, yes, I would want to be finished in five years! Just watching my parents deal with the past eight months makes me want to make sure I'm not doing this for the rest of my life. :D
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Another thing working in my favor is that the current mania for renovating old houses hasn't well and truly caught on yet here, though slowly old house sales are gaining momentum. So I think--though I'm no expert--that I'm well-placed to buy a house and have it pay off eventually (especially now, before interest rates start going up again), though the negative equity aspect is something to consider, especially if the government decides to close the major air force base here, which of course is always a danger and of course the AFB is our biggest employer.
And God, yes, I would want to be finished in five years! Just watching my parents deal with the past eight months makes me want to make sure I'm not doing this for the rest of my life. :D