I have been looking at the trend of housing sector in portland (bethany) from past few years it has increased a lot . I have enough money to down (20%)and buy a house in bethany . Looking at the share market , yield curves Iam afraid recession might hit soon . Is it a right time to buy a house in portland ? Or stay in an apartment and wait for recession to buy a house .
Fed rate up, construction boom created excess supply. Prices will go down
Okay .. due to Fed rate up interest rate also goes up which leads to paying more per month? Do u think this is considerably less than pricing gng down
You can refinance at a lower rate later, but you can’t decrease the price you paid.
Recession is not coming. Buy it before it goes up again next summer.
Not going up anymore 😉
What kind of idiot lives in Portland lol
I disagree, housing market isn’t going to crash anytime soon. At most I see a 10-15% drop at best. What happen in 2008/9 was a subprime loan issue and just bad loans. Now most lender won’t consider a purchase unless you have 20% down. Buying a home is best LONG term safe investment. Even those who bought in 2008/9 have by now recovered. I recommend to buy. Stocks are in for a major correction
I should add that population growth drives up demand for housing. US population is growing and so is immigration. Should keep demand high
But if we know there will be a drop it is better to buy at the dropped price rather than when its in peak ?
No one can predict the future. If you keep thinking... You will never try. It might be correction or recession... You can only see it in hindsight. If you want to live in your own home and want stay there for at least 7 yrs buy a home. Don't expect to make money... If you do in the future be thankful.
Your first house is a home, not an investment. Don't over think it, if you can easily afford the payment for the foreseeable future.
You’ll never time it right. The primary considerations are 1) Will you be in the house more than 5 years? If not, don’t buy. 2) Will it be a limiter in geographic mobility for promotion? If yes, don’t buy. 3) are you single? If yes, don’t buy. 4) Are you high income in a high income state? That one could go either way depending on the situation. Moving to Washington will probably give you a 10% raise.
Suggestions/discussions are also apprecaited