Buy Now or Wait? Should You Buy A House in 2024?

Should you Buy Now or Wait until for a Housing Market Collapse? With the housing market starting to pick back up with interest rates moving off the highest level in 23 years, many first time home buyers are wondering when is the right time to buy a house? In this video, we discuss the current housing market along with housing affordability to help you in deciding if you should buy a house in 2024.

HOME BUYER RESOURCES:

🎙- The Educated Home Buyer Podcast - @TheEducatedHomebuyer

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Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty

#housingmarket #firsttimehomebuyer #realestate

[BeaSiegal]

As a fellow second time homebuyer, I can honestly say that as long as the house was right and the payment was what I could comfortably afford, I was good. I closed on my home yesterday and glad I didn’t wait. I found the right house for the right price in the right location and couldn’t be happier with my decision.


Jeb is spot on in that no one can tell you when the right time to buy is unless you’re investing for passive rental income or flipping.

[darleneortiz]

Thank you for sharing your experience and much needed wisdom. Same scenario here, waited 5 yrs to buy a friends house that’s right for my family. Unfortunately mortgage rates are higher and not too happy about that. Will refi when the time is right. Great video!

[MeandMe]

The thought of buying a house gives me crippling anxiety

[.Slomaro]

Second video I watch and I’m subscribing. I like the information and the honesty you present. I’m so tired of all these crash bros with their click bait video.

[TrevMortgage]

Do you see demand increasing, staying similar to last year, or declining this year?

[demetriussullivan]

I think real estate and other financial quantity investors should exercise caution with their exposure and when considering new investments, particularly during periods of inflation. It is safe to seek guidance from a professional advisor in order to achieve potential high yields.

[lavoisier]

It is a Personal decision but definitely do your own Due Diligence and make your own inform rational logical decision.

[JamesSmith-muit]

A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850, 000 before I turn 60, I would appreciate any advice on potential investments.

[Ttow]

When slow economies come, large business buy smaller companies and wages get cut cut in half or layoff, people are not prepared for wages to be cut or layoffs

[samtaha]

Purchasing in 5 months using your guide, thanks so much for the videos!

[ChocolateThaiii]

Well, my lease is up on my townhome in July. I’m so stuck between trying to apply now because the loan I want (USDA) is somewhat lengthy considering what I heard about it also wanted to look into DPA. Should I start now considering their rates are low anyway? Or be greedy and wait to see how the interest rates are going to look🤔.

[dariuscincys]

Straight facts!!! It's impossible to time the market - one should ONLY consider buying (or selling), when it's the right time for their lives! Thanks for sharing, Jeb.

[Siscast]

yup, be careful not to pull the trigger on buying a house when you can't actually afford it, meaning almost all your income is going to paying off the house. Then you are stuck in that lifestyle for the future, ESPECIALLY since you won't have equity to refinance if the interest rate ever goes down. It's a hopeless situation. And unfortunately, it's a hopeless situation for home buyers in the orange county.

[habibrahman]

Great topic today Jeb I myself going through the same issue I am stuck with a 3% rate on my house my kids are out of the house and I really like this house but keep going back and forth because of interest rate

[chloejin]

People ask this question because they want to hear different opinions. It doesn’t mean that you or whoever they asked are making decisions for them.

[Chew]

The only crash in real estate has been in commercial office space. Home offices have only increased demand for space in residential housing.

[rotwiler]

I made choices years ago that greatly helped me. In 1990s bought cheapest house i could find that was livable, for $45k, sold it in 1999 for 100k, then bought new tripple wide manufactured home and put it on 1/2 acre in a up and coming area. Area boomed, in 2021 sold it and profit let me buy a home on 1.5 acres without a mortgage for $420k. Last time i had a house payment was 1999. I would be struggling if i had to buy home now with a mortgage. I feel sorry for all the people now trying to buy a house around here in Wa State. Minimum you are going to pay 400-500k, rent on apt is 1300 1 bed, 1500 2bed min.

[royjohnson]

was in same situation as you and closed on our forever home. will take a seat back and enjoy the ride while everyone scrambles when rates drop

[i_brought_a_flower]

❤ great advice! I'm buying now, because inflation is eating my down-payment and prices are down 30% in the area I'm looking at in an upcoming part of town. With a great and secure job I'm able to purchase the house and remain renting while I pay it down and fix it up. It's about security for me. I want a home I can retire in and not worry. I'm 35. I've got 15- 30 years of work left in me. Better now than never I suppose

[JaxonParker]

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