Wait to buy home

Amazon qed af
Jul 4 15 Comments

Is it worth waiting for market to go down? I'm paying rent of 2500. If market goes down how low can it go?πŸ€”

In the hot market like the Bay Area.

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TOP 15 Comments
  • Google 1234-/:;(
    Market will go down. But it will never go down to the 200-400k range for a house. Im anticipating a 20% drop at most
    Jul 4 5
    • Cadence / Product
      BayBee

      Cadence Product

      BIO
      .
      BayBeemore
      Its already down 10-15% so ....
      Jul 4
    • Google 1234-/:;(
      depends which areas. 2m+ houses are 10-15% down but the 500-1m range still very hot
      Jul 4
    • Cadence / Product
      BayBee

      Cadence Product

      BIO
      .
      BayBeemore
      Agreed, the market is already much slower, probably will halt in november.. my favorite time to buy
      Jul 4
    • Twitter nBso81
      For those waiting for November, do you not think all the IPO people will make it harder to get an offer accepted due to more competition?
      Jul 5
    • Google 1234-/:;(
      No one can say for sure. Our house was purchased post IPO in the late 90s
      Jul 5
  • Amazon / PR jefe_bezos
    Wait to buy stocks.

    Is it worth waiting for market to go down? If market goes down how low can it go? πŸ€”
    Jul 4 0
  • Uber / Eng itsdara
    Wait til your rent is equal to Mortgage+property taxes. In the meantime save the difference
    Jul 4 5
    • Amazon spacesh
      Bad advice
      Jul 4
    • Apple powerlines
      Really bad
      Jul 4
    • Uber / Eng itsdara
      What's your threshold then? 2x rent? If OP can't save enough money as down payment to bring mortgage lower then they should not be buying. Especially when OP anticipate a downturn which means lower TC, losing jobs etc... They should not stretch themselves to the limit during good times such as this, what will happen during bad time? I bet you haven't been through the great recession of 2009.
      Jul 4
    • Amazon spacesh
      2009 was not a norm
      Jul 4
    • Uber / Eng itsdara
      2009 was not a norm, but taught me a very important lesson: 10% reduction in income wipe out most people with significant debt. Forget about job loss, can you sustain a 10% revenue or salary cut for 2 whole year?
      Jul 4
  • eBay whyblind?
    Location?
    Jul 4 0
  • Microsoft pJcW86
    Just like stocks, if you don't do this for a living don't bother trying to time the market.
    Jul 4 0