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Good points, but then again I have been reading articles like this for a while now. As was stated, "nothing can go up forever". I do agree that certain areas will be less affected than others. I know in the DC area we are fairly insulated because the fed always has jobs and the area remains fairly steady.
I am glad we moved last year and we plan on staying in this house for the long term.
Jackhammer, I wouldn't put it off if you are planning on staying put for a while, but I would also be very careful about over extending yourself. We were preapproved by our lender for a few hundred thousand over what we bought at but we didn't want to be "house poor". I know quite a few people that are way overextended in MHO.
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