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With jumbo rates going above 6% now and housing prices still at the very limits of human affordability (nowhere to go in real terms but down), it’s basically guaranteed to get hosed when buying. I am out of this absurd market. Wake me up when things make more sense. I am directing all money to index fund again. Tc 500k
Cool story, are you living in your van?
Fixed jumbo are 5.25 and adjustable are 4.5, what the f are you talking about
20 years ago, TC was 1/3rd and house prices were 1/3 with 8 percent interest rates.
20 years ago you were on deez nuts
TC and housing and stocks and bonds will crash. Fantasy will be repriced.
Well, you may become a Rip Van Winkle then, because as long as Tech salaries are this high, home prices at Tech Hubs will not budge. But I definitely hear you and started to feel the same, with same TC as yours. I am also biding my time to put my money to a leveraged index fund. Watching TNA, FAS and QLD. If I can catch the bottom with one of these fireballs, then I can buy a chateau let alone a dingy old house.
With your TC, you can buy something in Montana maybe
Can't you just refinance after a few years? Don't have much experience with housing...
Your tc is good but you need a spouse with high tc too. Houses in HCOL are for dual tech incomes.
Rates will be up for a good whiiiiiiiiile. We have to adjust our mindsets to that
I think people will keep buying thinking that they can refinance. It’s only after couple of years when people realize they are stuck with these rates it’ll start showing up in the housing market.
Which index funds op?
I use schb and vtsax