It depends, if you're buying mainly because"your home is your greatest investment". Then probably not. From a cash flow position, Rents are cheaper than mortgages, So probably not. And that will only increase this year as we have more new rentals coming onto the market in 2024 than any time in the past 20 years. If you're buying a house because renting just doesn't meet your needs and you can afford to keep it for 10 to 20 years, then absolutely Now's the Time to buy a house
It depends agree. I am about to buy apartment with more then half down-payment as I am tired of renting and want and can afford home. Rental is not home.
I think it is fair to say it is mixed signals. If rates go down, prices will go up, and if rates go up to fight inflation, I think it will hurt volume, but I am not sure if prices will go down much.
There's some pretty wonky things going on right now that's sort of freezing the market and making it hard for families looking to buy their first home or a bigger one. First, there's millions of homeowners who are handcuffed to their current home because they have mortgage rates in the 3% or less. They're stuck. Second, there's a lot of empty nest Boomers in 4bd/2ba or bigger houses that refuse to move right now and they won't trade homes with their kids who have their own kids.
When the federal reserve drops rates means the economy is in trouble... They wont lower till then. The situation will change once unemployment pops. Your argument assumes economy will stay strong even as tighening conditions persist. Something should also be said about realtors who are permanent optimists about making sales in any environment.
Your argument assumes the Fed will do the right thing when there’s no evidence that’s the case. They will cut rates and sacrifice the dollar rather than allowing a price correction.
It depends, if you're buying mainly because"your home is your greatest investment". Then probably not.
From a cash flow position, Rents are cheaper than mortgages, So probably not. And that will only increase this year as we have more new rentals coming onto the market in 2024 than any time in the past 20 years.
If you're buying a house because renting just doesn't meet your needs and you can afford to keep it for 10 to 20 years, then absolutely Now's the Time to buy a house
It depends agree. I am about to buy apartment with more then half down-payment as I am tired of renting and want and can afford home. Rental is not home.
I think it is fair to say it is mixed signals. If rates go down, prices will go up, and if rates go up to fight inflation, I think it will hurt volume, but I am not sure if prices will go down much.
There's some pretty wonky things going on right now that's sort of freezing the market and making it hard for families looking to buy their first home or a bigger one.
First, there's millions of homeowners who are handcuffed to their current home because they have mortgage rates in the 3% or less. They're stuck.
Second, there's a lot of empty nest Boomers in 4bd/2ba or bigger houses that refuse to move right now and they won't trade homes with their kids who have their own kids.
When the federal reserve drops rates means the economy is in trouble... They wont lower till then. The situation will change once unemployment pops. Your argument assumes economy will stay strong even as tighening conditions persist.
Something should also be said about realtors who are permanent optimists about making sales in any environment.
Your argument assumes the Fed will do the right thing when there’s no evidence that’s the case. They will cut rates and sacrifice the dollar rather than allowing a price correction.
Idiotic time to buy, let me guess you are a realtor who would say anything to make a sale!!!!
Market has already crashed!