Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 2 years agoPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comexternal-linkmessage-square36fedilinkarrow-up1146
arrow-up1146external-linkPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 2 years agomessage-square36fedilink
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up10·2 years 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-up10·2 years agoPaying above asking will cost a lot less than an extra 4% over 30 years.
minus-squaredeegeese@sopuli.xyzlinkfedilinkarrow-up4·2 years 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-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up3·2 years agoWhat if you just refinance when the rate drops
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up3·2 years agoThe latter. I can’t house hunt if I can’t afford to house hunt.
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.
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.
What if you just refinance when the rate drops
The latter. I can’t house hunt if I can’t afford to house hunt.
Nice burrito bro
Thank you so much