Wells Fargo’s economic analysis department has just declared it house buying time. Specifically,
“…current economic conditions are perfect for home buying. If you are interested in buying a home, you will never again (or at least not until the next bubble bursts) have an opportunity to buy cheap homes at such convenient interest rates.” – Wells Fargo Financial Market Strategies Report April 10, 2009.
But buying a home right now is not for everyone.
They say you need to have:
1. Cash for a down payment
2. Income for loan rempayment
3. Good credit
OR
JUST CASH.
Home affordability is at a 10 year low. If you are interested in buying a home, now is probably the time to do it.
