Home Buying Considerations

The Fed recently upgraded its assessment of the economy and bulls say the housing market is in the early stages of a rebound. Bears argue the recent gains will be short lived  pointing to tightening credit and increasing consumer debt. For anyone considering buying a home to live in, however, their concentration should be on whether they can afford the mortgage payment and the other costs of home ownership.  We think prices will continue to rise and that home ownership is the principal way to build wealth but best not to bet on that in a home buying decision.