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Originally Posted by BigPete
Just give me 2 more years and I'll have my $50k down payment sitting in the bank waiting for the bubble to burst.
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my advice is don't wait.
I put $0 down, and have to pay the dreaded PMI. Within a year, hoping the bubble doesn't burst too bad, I will have the 20% equity, can stop the PMI, and already have a place at a better price. After 5 months, I am almost at the 20%.
Based on the bidding wars going on right now(during the winter season too), there isnt a shortage of buyers around here.