Reply to Buying A House In This Craziness

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[quote=Anonymous]This situation is unprecedented. Therefore I don’t think anyone can meaningfully predict what’s going to happen next to the real estate market (or anything else). Based on how things have played out in other countries, I think we’ll have a much better sense of the near-term trajectory of this thing within the next 2-4 weeks. In the end, this could end up being just a blip on the radar... or a long-term situation we all need to learn to manage.

Anyhow, for those who haven’t bought yet, my suggestion would be to wait and see for the next few weeks/month. The unknown is stressful, but no harm in waiting a bit. Maybe rent month-to-month if you can.  If you’re already under contract and have a “safe” job, I would probably stick with it especially if you’ve put down a large EMD and/or plan to be in the property for a long time. If your job is potentially on the line and your EMD is relatively small, then you might want to reconsider. But for those who can... just wait it out a bit![/quote]

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