dododo on 23 June 2007
You have to live in a home for 11 or 12 years or so before it becomes better in the long run to buy.
Now for the USA we had 5 years of runaway price appreciation from 2000 to 2005 and it got really out of hand with a lot of speculators. So it makes no sense to buy here since prices are coming down now and likely will for a few more years.
If where you live the price hasn't gotten out of hand, and if you can afford a real mortgage (not any negative amortization, interest only, ARMs etc.) and plan to live in the home for a long time, then if you find the home you like go for it.
Otherwise just rent, and save as much money as you can each month.
