PG and I have been seriously thinking about buying a house together, I have even gone so far as to see what sort of pre-approval I might get. (will see how that goes, PG was in banking and knows the local mortgage rep at my bank...some unpleasant reviews. Rep was supposed to email me and must have forgot...not a good start)
I make no bones that the whole mortgage scenario frightens me. Sure the bank has a great interest rate right now, but that can only last so long. What happens in 5 years? What happens when the SHTF and the world credit system collapses as some believe it will?
My job is in oil and while I see no other viable alternative to our energy needs for most of MY working life, I hear rumours that the price per barrel may be heading for $50-60 in the next year. Natural gas has already tanked and is hitting some majors hard. One of my buddies in the business phoned the other day, his employer (Junior oil company) has pulled all their money for a few months effectively ending the job he had.
I don't see a good future for carrying debt right now which is why I have paid most of mine off (*previous post) Do I want to be obligated having to round up $4000 a month to make payments? I don't know what the answer is...I'm trying to make the right decisions. This grown up stuff is hard.
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