I’m going to wait if you notice the trend here it seems like whatever the house last sold for the seller wants around 100k more period on every house that’s put on the market I don’t know about you but spending 3500 a month on a mortgage seems like it will catch up with you somewhere in the near future
i reckon soon ' you will buy one ' and get two free
Not buying in seller's market. I'm in same boat. I rather wait or move out of state if market doesn't correct soon. Same thing I show in mid 2000 people Sold high and then bought high. Whats the point. Once you signed the 30yrs mortgage contract. You're done. Can't go back and negotiate. That's how rich is getting richer.
In in Los Angeles. Prices won't drop for another 5 to 8 years. Interest will slowly rise causing home price to hold. The banks are very cautious as to who qualifies for a home loan. I just don't see any evidence as why the economy would crash.
+John, I'd like your opinion. I've been interested in moving for years now, but the time hadn't been conducive – I'd been a member of the military and tho I had my druthers…Uncle Sam had orders, until finally I broke something they couldn't repair and now the stars are starting to lineup again and time & money are again becoming an asset.
I have no debt as of now. I'm in the midst of settling an inheritance of which on the other side I may come out with a modest bump to purchasing capability.
A few years ago I had a fiancée who had the money to buy a house, and I began to study the market in order to get the best bang for her buck. I wasn't going to allow her to rescue someone that was upside-down in their housing-bubble-crisis mortgage, so I figured out what prices of homes "should be" in spite of the bubble,…so to say that I'm "patiently frugal" about sums it up – I want to buy, but only if I get a good deal on something I "want" (and absolutely not settle for).
Everyone I speak to, either coworkers or friends about the imminent collapse, correction or bubble whatever you want to call it, they laugh at me and think I need a psychiatrist. They say this economy will never collapse under Trump and if anything the market is not even near it's all time high! Lets wait and see.
I’m in your boat as well.
For the last question in the video: I would NEVER buy a house and I would NEVER care what the market value of my house is.In fact I own a house, where I bought an empty piece of land and paid an architect to build my house on it.The price of that is FAR cheaper than any ready made house could ever be, the house is made precisely as I wanted it, I have a warranty on all the installations and the value it has for me is the rent I used to pay before, minus the cost of maintenance this house has.
But then …. I would also NEVER buy nor build a house on a loan.In fact I waited and saved money until I could pay it 100% in cash.Also I would NEVER take a loan on it, that's why I just don't care how much it is worth.
If you can foresee that you will never have enough savings to build a house in cash, you probably shouldn't even consider building it on a loan, because in the next crisis (which comes for sure) you'll lose it.
But then, this is how it's done in Italy, not sure how it's done in the worlds biggest debtor nation.
Don't buy, mate. We will see the crash in the first half of 2018 when QT kicks in. This is a form or reloading by the government, along with interest rate rise to be a le to have some dry powder in the up coming crisis. If you have savings short the S&P and by gold and silver.
I've been watching the market waiting to buy myself. Values are definitely going flat. That is clear only question will they begin to soften up. I will wait another year if I can.
I was in the market for about 4 months recently. Paying 5k a month for rent for the last 5 years hoping the market would go down. In DTLA, condos have gone up double since. 2012, a 1500 sq ft condo I was looking at was 690k. Same condo now is 1.3 million. Kicking myself in the ass. My realtor buddy told me to back out and not buy this year. All the banks are cutting back and being very cautious about loans. I’m in the car business and the banks have certainly cut back dramatically. The Repo ratio on cars is at its highest since 2009. Late pays are at its highest since 2009 as well. People will always pay for their homes before their car payments. I guess I really don’t have a choice but to wait a few more years.
I'm waiting a year or 2. I rent also and it gets worse every year.
I seen a Video that showed 2023 will be the down turn sorry I can't remember the title
Oh yeah, wait then move in like a shark prices on homes will drop at the start of this crash to 50% or 60% !
I'm also waiting. Prices here in California are ridiculous rents even more!!! How can people pay 2-3 thousand rent or mortgage making 300 a week..
Where did you get this chart?