As far as the article, I think one of the things that we've learned from 2012 to the present and QE2 is that the Fed doesn't exert as much control over the affordability of the housing market as we perhaps previously thought. The levers don't leverage as much as they hoped/thought they would. Even as interest rates have been at historic lows for sustained periods of time, the results have been a sluggish recovery in the housing market that lags behind what most economic forecasts would have predicted, given the prevailing interest rates. We're kind of in uncharted waters.

I don't know that I agree with your 5-year projections, but if that's what you're basing your approach off of, then I can see it making sense. If you've got a good rental situation, if you're making enough money that the MI deduction doesn't apply to you, and/or you're looking at it from an investment perspective, then it can make even more sense. You seem like a sophisticated buyer, whereas yfootball--and nothing against him--seems more like a regular homebuyer.

Different customers, different set of criteria, different set of rules. Best of luck in your approach--hope it pays off!