Bedlam wrote:
I can afford a purchase in phases without financing but cannot fund the entire purchase at once. I cannot save as fast as prices are going up, so delaying a partial purchase just makes it less affordable on a single income.
My friend, that tells you all you need to know about the housing bubble. It is unsustainable. I saw this same thing last go 'round in WA. I sold my house and sat on the cash until the whole shebang collapsed, then turned around and bought 4 acres of property from the bank for 17 cents on the dollar, with some 2nd growth red cedar and fir to boot. The previous owner paid $135k and lost it. I gave them $24k cash. I had a well drilled, 4 bedroom septic installed, and 360 amp service put in. I set up an RV pad and built myself a small cabin as well. Then prices went stupid again and ..... I sold it off for a 300% profit after using it for more than 5 years. And I'll do it all over again when this one crumbles to the ground. Do yourself a favor and keep your powder dry.
