Why I Stopped Buying Real Estate
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supply demand. if everyone is dumping their houses all at once prices will fall. more competition. prices already are too high. people were already at their limit w their mortgages. but rates will not get that low for a very long time. these sellers will be starved out.
Yes. Once they bring down the interest rates there could be a “frenzy”. Just educated speculation.
“Starved out” like I can’t just sit on my house longer.. 😂
@@kevinmanan1304 you can. not everyone can. they get fired from their jobs like all the crazy lay offs that have been happening, it costs money to maintain a house, anyone with a mortgage understands the costs of owning vs renting. the world is a bit different when you are able to look past your own circumstances. so yeah they will be “starved out” and are already being starved out. not hard to look at the condo market and see it getting worse everyday.
@@wolf-yw9wk at a 3% interest rate. They can rent it out with a profit under market rent. Or do you not know that you can rent out a house with a mortgage?
I pay $1100 per month on my mortgage 1 mile from the ocean thanks to my 2.75% rate. House next door just sold for $925K. I will never sell. my big dilemma is weather to pay off or invest? practically free money
And that ladies and gentlemen is the catch 22 of the housing market.
Interest rates go up, prices are lowered to gain traction in the market. However, your stuck with high payments.
Interest rates go down, people get excited, and prices go up because sellers know there’s more money in the market. Also, the competition is higher with more ppl having access to cheap debt.
Of course demands makes a difference, but with the cconditions of the market from the last few years to now…demand is still high and that’s not just from first time buyers, but ppl looking for investment properties and I’m not even talking about large hedge funds.
those are normal scenarios. On the top view, its all rigged.
Quit rubbing it in
Only way I own a home is if I buy each piece 1 by 1 and build it over the next 20 years.
Where can i see this
In the country I live in you can take your mortgage with you to your next house. You only have to finance the difference.
Country?
Interest rates will never be that low…. Ever again👍🏼 so why try and hope
Historically this is correct. We are spoiled from the housing bubble in the 2000s.
I don’t think we will ever see a 3% housing market ever again.
You’re wrong for 1 reason business loans are linked to prime rate just like mortgages. Do you think businesses won’t keep lobbying and fighting for lower rates? President Trump himself wants low rates again. So yes we’ll see very low rates again.
I bought home in Europe at 1.3% in 2019. Some people got it under 1%😅
30 year fixed never going back under 4%. Tariffs create inflation pressure.
I’ve been wondering why I’m seeing so much rhetoric around buying a home being bad now. They laced it in this small convo. The people who bought low don’t want others in their game lol typical
Bankers are here to
Make money , they don’t care about your house.
Supply and demand. If rates go back down, we will see more demand for houses. Meaning the supply would go down. Meaning prices would go up. However 7% rates arent sustainable. So I think that rates NEED to go back down to like 4 or 5 so the average person could afford a house
The worst part is these guys are part of the reason things are like this.
6 7?
i’m at 2.2%. i’ll never leave.
When they start to say “never” , You know its coming soon.