Uncle Muscles
Elite
- Joined
- Apr 30, 2021
- Messages
- 511
Basically saying that if you can get something without paying $50k over asking price, but something know because prices are never coming back down
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SignUp Now!5% is normal on a larger scale. I think we are heading to double digits, plus limited supply. All part of the “own nothing and be happy” planThat interest rate though....
You're getting a little obnoxious with this post.5% is normal on a larger scale. I think we are heading to double digits, plus limited supply. All part of the “own nothing and be happy” plan
Idk. Inflation can make prices go either way. So far, undeniably, inflation has made housing prices go higher. There is no guarantee prices come down even with higher rates. There could be a slow down in transactions without lower prices. There is still an under supply of housing and until that is rectified prices will be firm.I've seen others say that if you can wait 6 months you could get a really good deal. Predicting a huge drop in demand as interest rates rise and other inflation kills spending power.
Listening to a real estate podcast yesterday, he predicted another rate hike. People will then go nuts buying before rates get "worse".
Best time to buy real estate was yesterday. 2nd best time is today.
To an investor, you are correct. To the casual consumer they don't pay attention to the %. "What's my payment amount, and location" pretty much sums up their buying process.Meh. Rate hikes are already known information. There is no evidence of people going nuts buying houses before rates increase. Mortgage applications were at their lowest point since 2016 last week.
People went nuts buying shit a year ago, we are past that point.
True, but rate hikes do move a percentage of people out of the market as those payment amounts increase substantially.To an investor, you are correct. To the casual consumer they don't pay attention to the %. "What's my payment amount, and location" pretty much sums up their buying process.
He also thinks its better to buy a vehicle with your own cash. Stupid idea.
Prices are already coming down. In our area we are use to 2200-2500 homes on the market. Last month it was down to 330 or something like that. Now its back up to 1100. Prices dropping back down.
He isn't a dumb ass. Imo he teaches basically live within your means and save money by eating beans and rice.only boomers take Dave Ramsey advice
He is not a dumb ass but he is risk averse. He is against borrowing money, but borrowing money is one of the best things you can do in an inflationary environment. Most young kids should probably be encouraged to have "smart debt" like a mortgage but he preaches the opposite.He isn't a dumb ass. Imo he teaches basically live within your means and save money by eating beans and rice.