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Last Updated: Housing starts fall 13% in November
December 16, 2004
Housing starts fall 13% in November - Dec. 16, 2004: "Housing starts took their biggest tumble in almost 11 years in November, raising worries about the housing market and the strength of home prices in the long run."
This is good news for Asia and I as we plan on buying a house over the next year or so. While interest rates will surely go up with time it's a big concern of ours that the inflated housing costs will cause us to lose money. We would rather purchase a home at a lower cost now and possibly refinance when/if interest rates lower over the life of our mortgage than lose money on the value of the house itself.
Does anyone have any advice on this?
Comments
wait the prices are going to fall, just as your article states housing market took a huge drop, new construction relates to the market
Posted by: peter maher at December 20, 2004 03:22 PM
It is a given that interest rates will continue to rise over the next year or two (I think longer) but I do not see rates going up for at least a few months again. Our government does not really care about the weakening dollar and the economy is somewhat stabilizing. Although waiting a year could cost you a somewhat higher interest rate, you don't have to worry about rates going up too much.
Posted by: jason at December 22, 2004 01:58 AM
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