The Mystery of Mortgages

Before Hubby and I got married nearly ten years ago, we read The Mystery of Marriage by Mike Mason in preparation for committing ourselves to each other. It was a fantastic read, highly recommend it to all couples.

There ought to be a book called The Mystery of Mortgages by Me. Seriously. The system has swung SO hard to the other side, it is just ridiculous. (I realize that the fact that Hubby and I are looking for a house is actually a miracle, but you know, the lending system is putting a damper on this.) As a system, the appraisers are low balling the value of a property, then they have these requirements about keeping equity/down payments, then they scrutinize everything. It. Makes. Me. Want. To. Stop.

Never mind that Hubby and I also have our different perspectives. I want a house, as big as possible, as beautiful as possible. Hubby wants a house that is bigger than our current space, he doesn't mind ugly, and he thinks whatever we buy will be lovely.
Let's just say that there was a cop who saw our, hmm, loving discussion, at Herald Square in NYC a few weeks ago. While I cerebrally understand that we should buy a house that meets our current needs, not our needs in 25 years- when A&Z will bring their spouses home for Christmas.

This is where I want to live. Actually, this is the new dorm at Scripps College, my alma mater. I never got to live in this, since I was immersed in medical school by the time they finished this. However, I lived in something like this for three years. Hubby is somewhat surprised that the buildings had so much influence on my taste, but you know, once you live in a Spanish Mediterranean, you just can't go back.

Then there is the issue of patience. With unemployment SO high, how can housing prices go up? How can inflation kick in and drive up interest rates? However, I am reassured that if enough new money gets printed, inflation will happen. Unfortunately for Americans, there is just new money being printed... Should we wait a few months?

If you have an ability to look into the future, I would LOVE your advice. Even if you can't do any fortune telling, tell me your opinion anyway.