Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 1 year agoPending home sales drop to a record low, even worse than during the financial crisiswww.cnbc.comexternal-linkmessage-square34fedilinkarrow-up1143arrow-down12
arrow-up1141arrow-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 · 1 year agomessage-square34fedilink
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up10arrow-down1·1 year 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-squarezeekaranlinkfedilinkEnglisharrow-up11·1 year agoPaying above asking will cost a lot less than an extra 4% over 30 years.
minus-squaredeegeeselinkfedilinkarrow-up4arrow-down1·1 year 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-up3·1 year agoWhat if you just refinance when the rate drops
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up3arrow-down2·1 year agoThe latter. I can’t house hunt if I can’t afford to house hunt.
minus-squareCows Look Like Maps@sh.itjust.workslinkfedilinkarrow-up3arrow-down2·1 year agoNice burrito bro
minus-squareNegativeLookBehind@kbin.sociallinkfedilinkarrow-up2arrow-down1·1 year 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.
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