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From: patcl@hammer.UUCP (Pat Clancy)
Newsgroups: net.invest
Subject: Re: A Question
Message-ID: <1893@hammer.UUCP>
Date: Wed, 26-Mar-86 12:41:42 EST
Article-I.D.: hammer.1893
Posted: Wed Mar 26 12:41:42 1986
Date-Received: Sat, 29-Mar-86 05:48:33 EST
References: <882@sfmag.UUCP> <20519@styx.UUCP>
Reply-To: patcl@hammer.UUCP (Pat Clancy)
Distribution: net
Organization: Tektronix, Wilsonville OR
Lines: 16
Keywords: savings, real estate

>
>The advice I've been hearing lately is that you should try to go ahead
>and buy the house as soon as you can, as real estate prices tend to
>rise faster than your ability to purchase. Prices will not get lower,
>and the mortgage interest rate should be at bottom in the next month

This is *not* generally true. In Oregon, prices have been dropping
over the last several years, and I know several people who have lost
money (in the form of equity) as a result. Also, at least recent
national figures have also shown a drop. And although mortgage rates
are at an N-year low, they are still "absolutely" high, eg. just below
levels which used (till the late 70's) to be defined legally as "usury"
in some states (eg. New York).

Pat Clancy
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