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Don’t Buy a House Right Now!

Speaker 1 (00:00):

In this video we’re talking about whether it’d be a huge mistake to buy a home right now. I mean, here’s the thing. We all want a good deal on anything that we’re buying, and it’s no different when it comes to buying a house. I mean, the problem is that there’s a lot of factors that impact the market, and really we only ever know when we’re getting the best deal once it’s already gone by, and we’re looking back at the numbers. Largely, we’re looking at affordability, which is mainly made up of home price and interest rates. So what you need to know is the 1% interest rate change impacts purchasing power by 10%, and the likelihood that prices go down over the next year by 10% versus interest rates going down, down by 1%, much more likely the interest rates go down. So if you’re looking to time the market perfectly when it comes to affordability, buying a home right now could be a huge mistake. I’m Alex Helton. If you have any questions, reach out. We’re here to help.

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