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Here’s what I’m mulling. I promise to think my decision through myself and not rely entirely on this forum. So don’t freak out. That said, I’m genuinely interested in Brownstoner opinions.

We signed a contract to buy a brownstone back in June. The sellers have been jerking us around for the last four months, but they’re getting ready to actually set a closing date. (There is a longer story, but the short one is that they discovered they can’t afford to close so we had to set up a short sale. Which takes time.)

Given the state of the economy right this second, we’re having serious second thoughts.

If we want our escrow back we can have it, so we don’t loose much by walking away. What we loose is the time it takes to start over.

Inspecting, negotiating, all that.

We’d be dependent on renters to make our mortgage work, which is a strike against going forward in this economy. Or a strike for it, since apparently everyone will have to rent now?

It is a nice place. We’re kind of happy with the price. Assuming we can find tenants we can make it work.

So seriously, would you close today or wait for the market to tank?