Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 11 months agoPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comexternal-linkmessage-square34fedilinkarrow-up1145arrow-down12
arrow-up1143arrow-down1external-linkPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 11 months agomessage-square34fedilink
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up10arrow-down1·11 months agoSo, buy now and have high interest rates, or wait til they drop and have to compete with dozens of other people, and pay 10-20k above asking?
minus-squarezeekaran@sopuli.xyzlinkfedilinkEnglisharrow-up10·11 months agoPaying above asking will cost a lot less than an extra 4% over 30 years.
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up3·11 months agoWhat if you just refinance when the rate drops
minus-squaredeegeese@sopuli.xyzlinkfedilinkarrow-up3arrow-down1·11 months agoOverbidding at the start of a run up in prices is a lot less risky than overbidding at the top of the cycle. Unfortunately it’s hard to tell where you are except in hindsight.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up3arrow-down2·11 months agoThe latter. I can’t house hunt if I can’t afford to house hunt.
minus-squareCows Look Like Maps@sh.itjust.workslinkfedilinkarrow-up3arrow-down2·11 months agoNice burrito bro
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up2arrow-down1·11 months agoThank you so much
So, buy now and have high interest rates, or wait til they drop and have to compete with dozens of other people, and pay 10-20k above asking?
Paying above asking will cost a lot less than an extra 4% over 30 years.
What if you just refinance when the rate drops
Overbidding at the start of a run up in prices is a lot less risky than overbidding at the top of the cycle.
Unfortunately it’s hard to tell where you are except in hindsight.
The latter. I can’t house hunt if I can’t afford to house hunt.
Nice burrito bro
Thank you so much