Homing In

It’s as easy to ask the question as it is for a child to sketch a dream house in her sketchbook, with clouds and a tree next to it. Is this a good time for you to buy your own dream house? The question has been with you for a while. Let’s say you had recently, maybe a year or two ago, at last reached a point in your life when you could finally afford one—that is, foresee being able to pay out a loan in a stable, predictable manner. Or you are at another phase in life, and looking to add some more concrete to your long-term investments. In either case, you were biding your time. So should you go for it? It’s an instinctual question in times such as these: the economy is in a trough, and prices are low. Common sense should tell you this is a buyer’s market. But the fine print of life can always hold surprises, so let’s carefully examine the pros and...