Quote:
Originally Posted by David70
The original question was about a crash. Young college graduates not being able to buy now doesn't lead to prices suddenly taking a dump.
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Perhaps, but a removal of what has been the traditional group of first-time home buyers would certainly have an impact on it, yes?
Quote:
Originally Posted by David70
My house payment won't ever change (principle/interest cost), property taxes have gone up a few hundred dollars per year in the 10 years I have been in my house. Yes there are maintenance/repair costs that you also need to be prepared for. You will also find that rent in the next 10 years is also likely to go up, to cover the property taxes, maintenance and repair, and overall costs for where you live.
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Bolded - exactly; I can look at my finances and know that I can't reasonably say that I would be able to be prepared for something like that. Rental costs might go up marginally from year-to-year, sure, but again, that is an entirely different ball game than suddenly needing to replace a roof.
As you pointed out, the topic at hand is a potential crash on the housing market, so I'll leave the rest of your reply be. My apologies if I came across as complaining.