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WSJ on Why You Should Buy a Home Now

  • April 9th 2009

by Mark Wellborn

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WSJ on Why You Should Buy a Home Now: Figure 1

The Wall Street Journal’s Brett Arends made a pretty compelling (and rather straightforward) argument recently for why you should buy a home right now. His main reasons? Interest rates are super low and you can get a really good deal despite what statistics say.

Arends writes that the combination of getting an interest rate at 4.5% or 5% over 30 years combined with the expected “dose of inflation” means that not only will your monthly payments be low, but you’ll repay the principal over time with devalued dollars. Furthermore, he notes that if you are active and do your homework, there are some very good bargains out there.

From his column:

“There are plenty of deals taking place far below the official average levels. The indices are masking a huge disparity in prices. Even the National Association of Realtors concedes distressed sales – including foreclosures and short sales – are closing about 20% below ‘normal’ market rates. Aggressive buyers are finding some simply terrific deals. And they’re paying with cheap debt, too.”

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/wsj_on_why_you_should_buy_a_home_now/780.

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