Originally Posted by
cessna157
What do you guys/gals think here? I'm very close to purchasing a condo in NKY. The price is great, and I've got good financing for it. But considering the state of change for our company, should I go for it? There's so many things that can happen with us as a pilot group. I'm still undecided if purchasing a condo right now is a good option. Go/No go?
From the financial articles I've read, housing prices are going down an additional 25% in 2008. Then perhaps staying on a level playing field for awhile. It takes a LONG time to get into the housing situation we're in, and will take even longer to get out of it. So, I'm very comfortable in waiting another 2 years or so before buying anything. Plus, if you don't have at least 10% as a down payment you're setting yourself up for trouble.