Re: when to buy house: Interest rate at 7%# Living
c*o
1 楼
In late 1980s early 1990s, the price crashed. The house prices reached the
lowest in 1991. In NJ, it means 2/3 or even less of the peak price in 1988.
After 1991, the house price was hovering there until late 1990s.
During that period, US just went through a deep recession. Unlike this one we
experienced, it is a broader based recession. It impacted on many industies,
not limited on IT like this time. Second, according to my friend, there was a
tax law change in 1988-1991 that did not favor home
lowest in 1991. In NJ, it means 2/3 or even less of the peak price in 1988.
After 1991, the house price was hovering there until late 1990s.
During that period, US just went through a deep recession. Unlike this one we
experienced, it is a broader based recession. It impacted on many industies,
not limited on IT like this time. Second, according to my friend, there was a
tax law change in 1988-1991 that did not favor home