If You Don’t Buy a House Now, You’re Stupid or Broke!

Just read this really neat article that really explains and tells it like it is relating to purchasing a home in todays market.  It was featured in Business Week.  My first thought, wow! what a blunt and harsh statement! But the writer, Mark Roth, uses this headturning title to get your attention to make excellent points for those who are on the fence.  Namely that interest rates are at an all time low, in fact, the lowest in 40 years. He noted that in the late 70s, rates hit a high of 18%! Can you even imagine buying a house at 18%?  I personally can’t fathom it as I bought one of my homes in the 80’s with an VA loan when I was transferred to Tampa, Fl.   The rates at that time were 13-15 % range and life was brutal.   Later, when rates dropped significantly we practically danced our way to the 1^st refinance of their home.  Generation X’ers probably would never dream of purchasing a home above 7% given all we have ever known are super low rates hovering between 5-6%. Mr. Roth points out the history of previous interest rates as well as the impact of rates on one’s purchasing power. I happen to agree with his prediction that as the economy becomes more stable, interest rates WILL rise to hedge inflation.  My prediction has been that by this time next year, rates will have risen 1-2% at a minimum. Take a momement to read this article.  If you are a first time homebuyer or a move up buyer, now is the time….Not To Be Stupid.  Visit my wesite at http://www.GainesvilleHomesForSale.com for the latest homes and info.