Big Issues (A Special Report) --- Is Now the Time to Buy Your First House?
It's been a scary few years for the housing market. But at some point, the nightmare has to end (please?). Is now the time? Should first-time home buyers consider jumping into the market?</br></br>After all, home prices have fallen 34% from their 2006 peak and mortgage rates are hovering at or near record lows.</br></br>On one side are those who argue that homes are more affordable than they have been in decades, based on how much monthly income a mortgage consumes and whether owning is less costly than renting.</br></br>An uptick in home buying by investors already is under way, they say -- an indication that those who wait may miss out on a good buying opportunity.</br></br>On the other side, pessimists insist that the housing slump is far from over, and that prices will continue falling -- perhaps as much as 20% or more.