It appears that MarketWatch, as much as they share my love of real estate, seems torn on the issue of whether to buy in or not. They've written two lengthy articles: one trumpeting the merits to buy and the other explaining why not to. The dichotomy proved to be an interesting case analysis.
Reasons for buying a house:
- Affordability is better than ever
- You have a large inventory to choose from
- Builders are offering big discounts
- Mortgage rates are historically low
- You can get a federal tax credit
Reasons against buying a house:
- Prices are still dropping
- This sale will be on for a while
- You may not stay put
- Your job could be the next to go
- Your cash reserves will be eaten up
Within the personal finance blogosphere, there seems to be two camps of people: Those who are on Team Home and those who aren't. As much of a pessissimist as I make myself out to be, I'm still pro-real estate -- bad market be damned! Do you agree or disagree? More importantly, are you, too, addicted to HGTV? Don't lie!