Quote:
Originally Posted by b0son
Its never been this bad. I bang my head on my desk whenever anyone mentions the high interest rates of 89 as if they're comparing apples with aples...
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There is some truth in this - the high interest rates didn't last more than 6 years whereas high house prices are seemingly here to stay.
I couldn't make any inroad on my mortgage back then, but I could afford to buy a house initially. It's the reverse situation for many now.
Just jump in, any way you can. It will hurt like hell but don't still be a victim 20 years from now.