I looked at the house in my price range and decided I need to save more money for a down payment to afford better. I am going to wait another year or 2.
Chances are things aren't going to change that much in a year or two. Better to save up for something you really want than buy a piece of crap that will hard to get rid of later when you can afford what you want. Would you consider a condo?
I won't go for a condo since the HOA fee is around $400-500 a month. I pay $500 rent a month. Also, condo's are more difficult to resale and will probably be the last thing to recover when the house market does recover.
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