If You're Waiting On Real Estate Prices To Come Down, Don't!

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[jessicanoble]

I like that. “Marry the house, date the rate.” 🤓

[FearTheImpaler]

Oh perfect, it's both a buyer and a seller's market. That definitely makes sense. No bias at all here!

[stevekaufmann]

30 years ago people were waiting for interest rates to go down. They did but houses had quadrupled in price if you're ready, you're ready.

[OldManJeff]

Sounds like a man who sells real estate for a living.

[saleslrp]

"Marry the house, date the rate". Love it

[DemonicVodNic]

1 in 6 homes in america are unoccupied. Because Berkshire Hathaway and zillow can buy the homes and relist them for 50% more and they can buy any additional units that come up, to continue to raise the price for any zipcode.

[mg-byuu]

When Dave Ramsey is trying to convince you to go in debt you know somethings up 😂

[IMaTotalDirtbag]

We did the same: paid off all our debt, saved 20% down payment, and got career & salary up. Now, we close Monday on our first house.

Rate sucks (7.25%), but we’ll refinance in a couple years once rates come down. Only thing not coming down are housing prices.

Supply is so low, and the government will not pass legislation to force Wall Street investors to sell back their single-family homes in their portfolio to increase supply and reduce housing prices.

If you’ve got all your ducks in a row, DON’T WAIT!

[DennisSmith-dqiu]

We put our house up for sale 869k and on the first weekend we had 8 offers and sold for $923k.
And got the heck out of communist California.

[Gamerz]

Interest rates are too high at 8% on 100, 000 you're losing 8, 000 a year. At 50k it is only 4000. On 300, 000 loan most cannot afford to pay 24, 000 in interest. If you make 70k you probably only keep 40k after benefits & all. 24, 000 in interest is impossible at this wage. You would want to make 150, 000+ minimum & you'd barely get by after taxes & all.


Show me where house prices remain suppressed more than a few years... They haven't been.

[.]

No Dave a house that’s selling for 560 now and was selling for 350 2 years ago you could never convince me that’s a great investment

[Tacoking]

I agree with what Dave is saying here, the issue I have is that ownership is out of reach for most people not in the market. I own a home and the only reason I can afford it? I bout it in mid 2017. It would take me 10 years after getting into my field to have the money. By then my wife and I would have been past safe child bearing years, and if we had kids while trying to save? It would have taken twenty years to save the cash. I left my home state for a cheaper place to live, that allowed me to buy when I did, but now my area is not cheap, and the place I came from is even worse. I feel for those just setting out. It keeps getting harder, and it’s going to come back and bite us in the butt eventually. I also think prices will plummet eventually, just might not be for a couple of decades.

[jakes.]

When interest rates come down, the market will get flooded with massive pent up demand which will push home values higher.

It’s such a shitty situation for the next generation of home buyers.

[AdvocateHero]

In a free market if enough people stopped buying because they were unsatisfied with the prices then wouldn’t the prices come down to entice buyers to buy?

[matthewley]

To Dave's point you cannot predict what will happen. Don't bank on rates or prices dropping a year from now. If you are ready to buy a home do it! It's an investment in yourself and the equity is value added to your worth.

[jagotiberan]

So it’s an excellent time for both buyers AND sellers? My bs meter is going off 😂

[Themellowco]

Banks are increasing fees to refinance making it difficult to get a lower rate in the future. Just something to keep in mind!

[adventuresiwork]

When interest rates were raised in the 80’s it took years for the rates to drop. I personally don’t think we will ever see 2021 interest rates again. That was a terrible idea

[RaspingPompano]

Famous words before the housing market crashes.

[Coolnamepeoplelike]

I'm waiting to earn $180k a year to afford the average home. Thanks Dave