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Yes, it’s true. After years of renting on and off here in Bend and despite all my hemming and hawing about a local real estate bubble, I am buying a house.

First of all, I found a seller who was not insulted by my offer and was eventually willing to significantly drop the price. At the price I’m paying there is a “margin of safety” that makes me comfortable.

Secondly, I am putting 20% down and using a 15-year, fixed-rate loan. I can easily afford the payment and the house will be paid off before my 50th birthday.

Lastly, I plan to own the house for a long time. I’m not worried about prices going down further, as I expect they will. By the time I get around to selling, I have faith Uncle Sam will have taken care of the price for me.

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