Mortgage is Better
If you can get a mortgage with a good interest rate - especially a 15 year mortgage - and put your money into something very safe and conservative earning 4 or 5% (CDs or Treasuries) I believe that is the thing to do right now until the market calms down.
I personally thought the housing market would recover by six months ago. But nationwide it is still receding.
Just because you have cash invested now and it is losing money does not mean you should not invest. It's just in the wrong location for today's wierd market. A "measly" plus 3% is a LOT better than minus 3%...or minus 10% or worse.
__________________
Brockton, MA 1946-49 * Fort Lauderdale 1950-66 * Northern Virginia (Army) 1967-69 * North Lauderdale 1970-72 * Coconut Creek 1973-87 * St. Louis 1988-89 # Northern Virginia (again) 1990-2000 * Destin, FL 2001-08 * The Villages - Amelia/Hadley
|