Once the Covid cash gets used up both lumber and housing prices have to pull back. It's unhealthy right now. Fortunately we don't have the zeronpercent down mortgages out there like in the past so if people are 10-15% underwaters they most likely won't walk away from their houses. But they'll have to sit tight for a couple years to get b…
Once the Covid cash gets used up both lumber and housing prices have to pull back. It's unhealthy right now. Fortunately we don't have the zeronpercent down mortgages out there like in the past so if people are 10-15% underwaters they most likely won't walk away from their houses. But they'll have to sit tight for a couple years to get back to even. There are some bargains coming up in about a year. You're crazy to buy a house now unless you absolutely have to. You're buying just about at the peak.
Good points here, I agree with you. People are rushing to take advantage of those low interest rates. Thirty-year fixed money is still very cheap, but if people can wait 6-12 months they may get a bit of a discount if we see any sort of market pullback in real estate.
Once the Covid cash gets used up both lumber and housing prices have to pull back. It's unhealthy right now. Fortunately we don't have the zeronpercent down mortgages out there like in the past so if people are 10-15% underwaters they most likely won't walk away from their houses. But they'll have to sit tight for a couple years to get back to even. There are some bargains coming up in about a year. You're crazy to buy a house now unless you absolutely have to. You're buying just about at the peak.
Good points here, I agree with you. People are rushing to take advantage of those low interest rates. Thirty-year fixed money is still very cheap, but if people can wait 6-12 months they may get a bit of a discount if we see any sort of market pullback in real estate.