My partner and I are finally at a point where we can buy a house but everyone says it’s a bad idea and the worst time to buy. Now, I get that houses are extremely expensive, and that interest rates are high, but to me there’s no guarantee that this is actually a bubble. Just because it’s the worst time ever (so far) doesn’t mean it can’t get even worse in the future. What if this is just a break before the next wave. A few things that lead me to believe this: 1) The record increase in interests rates hasn’t led to a significant drop in prices 2) supply is still low 3) there’s never been more institutional investors like black rock buying up as much as they can 4) there’s so many first time buyers and people locked in at low rates waiting on the sidelines for the interest rates to drop that when they do I think they’ll be a huge surge in demand all over again.
I’m tired of renting and I can afford what I want at the current prices / rates. I’m well aware that I’ll be paying $1000-1500 more than I would’ve been a two years ago but I’m afraid of it being even worse in the next few years.
Please offer some validation, rebuttal, insight, or advice for me to consider.
Submitted August 31, 2023 at 10:54PM by Andrew_Codes_ https://ift.tt/DgkiaWv
