Financially speaking we live in a volatile world. Interest rates are at an all time low, but with the housing market being so cold, people just aren’t buying. Houses cost more than new potential homeowners can afford, and current home owners homes need to be sold at a certain price the they can purchase a new home when they move. It is a vicious circle which seems to have no end.
If you are in the market for a new home, make sure you buy one that you can afford. It would be a shame to have to refinance after a couple of years because of a bad decision.