[JL8Jeff]

Our neighborhood has gone up a lot since we bought 12 years ago. I look at our house and say there's no way this house is worth the money people are getting for them. Housing is way overpriced everywhere. I don't know how people can make ends meet with the price of a house and the price or owning or leasing a newer car/SUV. Add to that the increased cost of heating and gas. I think housing prices will be coming back down as people realize how overextended they are. The price of everyday household goods will continue to go up as the cost of transporting them goes up. And a lot of people who have ARM loans will be screwed over with the higher rates now to go along with the higher energy costs. Any of you younger folks that are paying $3000-4000 a year for car insurance should be getting rid of that vehicle and buying something you can afford to insure so you can save up that money towards buying a house. I lived at home for 4 years after college so I could save up $35K to put down on a house. That kind of downpayment won't get you too far today. If your loan to value ratio is above 80% you will be forced to get PMI(mortgage insurance) which adds to your monthly payment. So plan on putting 20% down towards a house.