5 Reasons For and Against Buying Real Estate in 2009

• February 11th 2009

by Will Smith

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MarketWatch has published a pair of articles that each make five good points on opposite sides of the debate, Is 2009 a good year to buy a home? While you may have already heard many of the points made in each article, it is useful to have the reasons for and against purchasing a home in this market laid out side-by-side.

Below we have summarized the five reasons for buying a home in 2009. See the full article, Five reasons to buy a home this year, for an explanation of each point.

1. Affordability is better than ever
2. You have a large inventory of houses and condos to choose from
3. Builders are offering big discounts on new homes
4. Mortgage rates are at historic lows
5. You may qualify for a federal tax credit

And from Five reasons not to buy a home this year, here are the reasons against buying:

1. Prices are still dropping
2. The low housing prices will last for a while, so there’s no rush
3. You may move or leave the area
4. Your job could be the next to go
5. Your “rainy day” reserves may get eaten up by the down payment, which is risky. It is important to hold on to some cold hard cash, especially in this economy.

What do you think: buy this year or don’t buy this year? Let us know in the comments.

This article originally published at https://dc.urbanturf.com/articles/blog/5_reasons_for_and_against_buying_real_estate_in_2009/537.