Gallup poll shows a record low number of people saying it’s a good time to buy a house. Some interesting insights though from my end: - the number was lower in 2011 - 2019 than 2003 when it was a good time to buy? https://news.gallup.com/poll/392330/record-low-say-good-time-buy-house.aspx
It's a great time, if you're paying cash.
It's an ok time to buy if you need the house or want to diversify your portfolio
Houses are extremely overpriced. $1M gets you a pile of shit these days. The only trade-off is move out to the middle of nowhere and have no jobs but you can buy a nice home for $300K.
Good houses and even bad houses in great school district/ neighborhood will always sell like hot cakes. So crash is subjective to locations . It's not 2005 . Almost everyone who owns homes has refinanced at the very low rates and will never sell unless in distress. I have another house which I don't plan to sell because I have an interest rate of 2.5 with a very low mortgage payment. If at all it's going to be a correction. Crash not going to happen. The best time to buy your first house was yesterday but the next best time is today
Where I am at it is financially more viable to buy a nice house in a bad school district and pay for private school. Maybe others will start arriving in this situation as well?
No crash here
None of this matters, inventory won’t be rising significantly. Outside of life changing events (eg divorce) there is 0 reason for any current homeowner with a mortgage to sell their home and lose their current historically low rates. Housing is fucked for the next 30 years.
Economic downturn with a rise in unemployment, current mortgages needing refinancing, panic selling of "investments" once prices start moving down... There is at least a chance
Ok wait for the crash and then get into bidding wars to inflate the prices.
Bro give me money I will buy 😛
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The 30% saying it's a good time are realtors & mortgage brokers
Actually although Blind is extremely doomer and negative, 70% of Americans expect prices to keep rising on that article.