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Thanks for your advice.  It seems like the market will either stay at current level or is due for a correction for the next few yrs.  If that's the case, I will be just sitting on the side line and watch the market carefully.  I will save up more for the down payment.


북가주강남님이 2006-05-07 08:43:00에 쓰신글
>Hmm, let's see.
> 
>You are putting down a little less than 20% for the down
>payment, right?
>If you are putting down 20% or 25% that would make a
>better interest rate.
> 
>Anyway, your question is what if house market remains the
>same or goes down 15% for next few years?  Well, if we all
>know that house price is going to go down 15% or so for
>next few years, then you do not want to buy a house and
>carefully watch over the house market for the next few
>years.  But, no one knows what is going to happen for next
>few years.  It seems like nothing will happen or the house
>market will be down for the next few years. But, somehow
>the house market is still strong in a few areas.  That is
>because there is still a strong demand. This tells me that
>there are more buyer than sellers in certain areas.  I am
>also agreeing with many other people who think that the
>house price went up too rapidly.  But, the area in
>Silicone Valley is a different story.  Look at what happen
>in Seoul Kang Nam area. In 1999, the apartment price was
>some around 3억. At that time it was sky high but, now
>those apartments are now 10-13억 Won.
> 
>Can you believe that?  But, those apartments price will
>keep going up instead of down, because of it's area.  That
>is why the house price continues to be driven up.
> 
>Same scenario applies in the bay area.  Everyday the SF
>International Airport brings in hundreds of immigrants day
>after day. These Asian immigrants bring so much money.
> 
>Therefore, if you are planning to buy a house in a nice
>neighbor and good school area, you can not go wrong even
>though the house pricing went down 15%.  If you have a
>decent job and are able to make a payment which is not
>over 50% of your paycheck, then you should be prosperous.
> 
>Let's say, if you do not buy a house now because of all
>this uncertainty in your future. The only problem is that
>the house price might go up again and you may lose your
>chance, since the house price can change from month to
>month.
> 
>I can almost guarantee that 3 years from now, you will
>believe that buying this house will have been the best
>decision you could have made, if you are able to afford
>the payment and survive the next couple of years.
>
>Hypothetically, Everyone think as you and not buying a single house for next
>year or so....What is going to happen economically?  No matter what the market is, it doesn't matter. People still need to buy a house!
>
>부동산님이 2006-05-05 00:20:32에 쓰신글
>>Dear 북가주강남,
>>
>>My credit score is 720 and I can pay about $150,000 for the down payment.  I am looking to buy a decent three bedroom house in cupertino.  I guess they are about $850,000+...  If I were to purchase it with interest only option, is this a good time to buy?  What would be the immediate effects if the value of my house goes down for the next a few yrs?  Say about -15% in the next a few yrs... 
>>
>>Or is this a good time to just sit on the side line and watch the market?
>>
>>Your honest input would be greatly appreciated.  Please reply in English.  Thanks.