If I don't buy a house now, am I screwed?

[FCNova]

You're not going to be screwed by waiting. Buy because you're able and willing to own property, not out of fear. This is the mentality led many people to financial ruin back in '05-06. If the housing market is appreciating so fast that it's pricing everyone out that quickly something is wrong and there will be a correction. If you see that happening just wait for the correction.

[mkarch]

Originally Posted by FCNova

You're not going to be screwed by waiting. Buy because you're able and willing to own property, not out of fear. This is the mentality led many people to financial ruin back in '05-06. If the housing market is appreciating so fast that it's pricing everyone out that quickly something is wrong and there will be a correction. If you see that happening just wait for the correction.

The market isn't pricing everyone out currently. It's reacting to an inventory deficit at a time when more buyers are coming in.

[FCNova]

Originally Posted by mkarch

The market isn't pricing everyone out currently. It's reacting to an inventory deficit at a time when more buyers are coming in.

I know it's not pricing everyone out. I said IF it were to begin happening again, as seemed to be happening in the 05-06 craziness, etc etc

[sliverbox]

The time to buy is when you have the money to do so and it makes financial sense. Its really as simple as that. As far as being 28, well I'm almost 36 and bought our first house last year. I was your age when the last bubble was well underway and it- like all the bubbles before it- popped. Afterwards I bought but only because it made financial sense.