Quote:
Originally Posted by Jackie2008
Where I moved to almost four years ago is a hot market. Me and everyone else were looking for better career opportunities. I am at a lower price point than you, earning below $100,000, and I cannot afford a 1,000-1,400 square foot house that is now considered a "starter home." at prices hovering around $300,000. I have been renting. But, my realtor says, prices are going to keep going up, buy before you can't. Yeah, they probably will, but what I could afford now is either dumpy, in a bad location or a big fixer-upper or a townhouse that has a large HOA. I am not a fan of townhouses, so, no thanks anyway. If the interest rates would drop just a bit, I could afford what I would like to have. But, the CPI wasn't all that great today, so I will keep renting, even though I miss having a house (sold mine in 2020). Kids screaming a 11 pm, pot smoking coming through the walls, hearing the bass from a car stereo and apartment management that changed last September, and not for the better (now charging an extra $15 a month for garbage because of lower occupancy), has worn pretty thin.
|
Of course your realtor is going to tell you to buy while you can. There are certain fundamentals in the economy that are pointing to a dire situation. One is all time high credit card debt. People cannot afford the prices they're being dupped into buying today and pretty soon we'll realize it and stop spending. This should hopefully drive prices down where we can lower interest rates. At that point, lots of homes will come on the market from people who can't sell today.
it's all speculation but we simply cannot keep spending like we are, so we will have to drive demand down. Hopefully our government will keep their dirty hands off the economy and stop messing with it aka artificially propping it up. Our economy is now politicize and that's a very dangerous place to be.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
