Anonymous wrote:And if Trump wins, his Project 2025 will mean negative changes to 30 year mortgages, higher inflation, and higher taxes. Buy NOW.

project 2025 is a dem scare tactic and intensified after Biden got destroyed at the debate.

but in this area, i'd buy now if I found something i'd like.

trying to time it or wait for some major economic crash like in 2008, really means you'll keep paying more

And if Trump wins, his Project 2025 will mean negative changes to 30 year mortgages, higher inflation, and higher taxes. Buy NOW.

I try to keep informed and, from everything I've read, it's better to buy now because history has proven that prices go up when rates are cut in a market where supply is tight.

Anonymous wrote:Prices are forecasted to rise this year and for the next few years. Waiting to buy means you will pay more for a house. Rate cuts are supposed to start in September which will most likely result in increased demand and higher prices.

Short term rates may not translate to drops in long term rates. They are connected but move independently. The Fed basically sets the short term rate, but has less control over long term rates.

Anonymous wrote:I'd worry much more abotu what happens in November. I wouldn't buy anything right now.

I was wondering when someone would come and say this.

I’m a fed and a single mom. I bought in 2022 and currently have about 30% equity. I am starting to get scared that I will be underwater and unemployed, and SOL. Then it will hardly matter what interest rates are.

I'd worry much more abotu what happens in November. I wouldn't buy anything right now.

Anonymous wrote:Once the economy implodes, prices will come down. You can’t change the price you paid for your house and if prices come down, you may be underwater and be unable to refinance. Best to wait.

The economy is very strong and isn't going to implode. Buy now and refinance later.

Anonymous wrote:I wish I had these rates when I bought my first home. My first home was at 18.5 %.

K booner

Anonymous wrote:Once the economy implodes, prices will come down. You can’t change the price you paid for your house and if prices come down, you may be underwater and be unable to refinance. Best to wait.

Maybe you'll be right, but I tried this approach and spent a lot in rent and had to pay more for my home when I finally realized a market crash wasn't imminent.

Once the economy implodes, prices will come down. You can’t change the price you paid for your house and if prices come down, you may be underwater and be unable to refinance. Best to wait.

Prices are forecasted to rise this year and for the next few years. Waiting to buy means you will pay more for a house. Rate cuts are supposed to start in September which will most likely result in increased demand and higher prices.

You should definitely buy now. Prices will continue to increase but rates will drop and you can refinance.

Anonymous wrote:Rates aren’t suddenly going to drop to 3%. If you need a house and find something you like then buy.

This. I tried to wait out the pandemic pricing and ended up paying even more when I finally bought in 2023. Now my home is worth even more than I paid. I was wrong to think that prices would go back to pre-pandemic levels. Now it looks like housing prices and overall inflation/prices for everything else isn't going down.

Rates aren’t suddenly going to drop to 3%. If you need a house and find something you like then buy.

Buy when a house you love and can afford comes up. Interest rates are high now and will still be relatively high even if the Fed cuts. Refi later.