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For US folks, is right now a good time to buy a house? (lemmy.world)

submitted 1 week ago by [email protected] to c/[email protected]

63 comments fedilink hide all child comments

Since the election I've kinda buried my head in the sand to try and stay sane, so I'm not sure what projections are looking like for the real estate market. Unfortunately I need to move pretty ASAP and I'm having the worst luck with rentals.

So, anyone have any advice or an idea of the outlook in the next few months?

(page 2) 14 comments

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[–] [email protected] 2 points 1 week ago

I have no idea about the situation in the US but normally prices will always go up because inflation. Sometimes the price will flatline or go down for a bit because of lower interest rate on a loan but the also more people want to buy. More buyers == higher prices.

Some time ago I heard a story about a couple buying a house in the 80s in a big city for an extreme high price. Now that house is worth 20x more than it used to be.

But then again, I have no idea about the situation in your country. In my country even the cheapest houses are made to last at least 80 years.

[–] [email protected] 2 points 1 week ago

You gotta judge the market in that area. I saw people buy at the wrong time, during a bubble.

[–] [email protected] 0 points 1 week ago

Maybe, but in another, more civilized country than the US.

[–] [email protected] 0 points 1 week ago

I used zillow. I heard all about the controversies. But it worked perfectly for me.

[–] [email protected] -1 points 1 week ago

There is strong likelihood of banking and us collapse. This also crashes housing.

If you would stop mortgage payments and squat if value goes down, and can get ultra high leveraged mortgage, then yes it's a good time to buy.

Big risk to all investments right now, but housing could do worst.

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