"DELAYING A HOME PURCHASE WAITING FOR HOME VALUES
TO DECLINE COULD PRICE YOU OUT OF THE MARKET"
Ted C. Jones, PHD    Senior Vice President-Chief Economist,
Stewart Title Guaranty Company February 2009

Say you are waiting for home values to decline 10%.If that were to happen, and interest rates rose 1 percent to the 6% level, then you may no longer be able to afford the same
property.  Interest rates are at all-time lows and have the likely probability to increase.

Buying the same home -- Waiting for price decline.                            

                                               
                $100,000    $100,000
Interest rate    5%            $6%                    

Payment      $536,82      $539.60                 

30 year fixed