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I’d go with option 2 first and then slide in with option 1 a few days later 
However, if they’re Dems just go with option 2.
However, if they’re Dems just go with option 2.
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
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Im still livin in home but im in the process of buying a house.. im interested in a house thats in my budget. 3 years ago i would buy the same house for half the price. Do you guys think that i should wait to prices drop or just buy now?
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No reason to wait if you are saying home prices in your area doubled in 3 years.
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Buy now. Housing market has been changing.
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Zero point in waiting if you have the money to buy now. The only reason prices would potentially go down wherever you are is because the interest rate will be higher.
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JPMorgan, US Trust, GS, Morgan Stanley saying recession in late 2019-2020. All Markets went parabolic since 2010. Most Wall St Whales saying "feelin kinda toppy here." All major housing markets are now above 2007 all time highs. Markets to trade sideways, then drift lower.
If you are single, or married w/o kids, I'd sell here and hodl for a year or so.
(No, I am not in the Peter Schiff camp...I'm in the Tepper, Bernake, Yellen "buy everything, free money" camp)
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If market really does go down in 2-3 years I'm absolutely buying again
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My opinion is that when interest rates go up is gonna happen the same thing that happened 10 years ago.. People wont be able to support their loans and house prices are goin down again... but cant see myself waiting 2 years and rents are high so i think im gonna buy now
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This. Don’t know if I can afford $72k in rent over 2 years vs buying and being 48-50k
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I don't understand why people take variable rate loans on homes.
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It's not just variable rate loans. The apr going up 1% on a $300k loan adds almost $200 to the monthly bill
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But if you have a fixed rate, it’s not going up, right?
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Correct, but a common thought is that when interest rates go up, prices slow down. Some people will only want / get approved to spend a certain amount of their monthly salary.
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Ahhh, gotcha.
antidope
Supporter
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My hunt for a house has hit a stalling point. Was very frustrated at a point but it's whatever.
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What you guys have to say about that graphic? Are we close to see the bubble burst?
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Hang in there, keep looking, and don't settle.
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how long have you been hunting?
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I don't think we are there yet... Once you factor in inflation, we still aren't as high as things were in 2005-2008
http://www.multpl.com/case-shiller-home-price-index-inflation-adjusted/
antidope
Supporter
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About six months. Hasn't really been a long time but still.
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If any of us knew, we'd be on CNBC
Consensus is around top of 8th inning. "They're" waiting to crash Emerging Markets as the 1st domino. Kinda like the Asian Flu in 97.
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I never knew this thread existed lol me and some of my friends just started looking up real estate investing not too long ago. I definitely want to get into it and start my own company, I thought of a name and everything lol we're gonna joint a REIA and try to get things rolling because we have no idea about any of this stuff. I'm glad I stumbled upon this.
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Spend some time with Bigger Pockets. Talk to some good local realtors.
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Yeah I'm definitely gonna do that
