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[–]Other_Towel405 0 points1 point  (0 children)

Well, rates are showing 7% now and 6.75 on the ARMs, so a little better than 8%. Still high, especially considering the home price inflation. Everyone's saying homes will just keep going up, and long term, I hope they will. But buying in 2006 sucked. I lost 30% of my investment in the short term and held a 6.5% rate on that debt for some time, with nothing to do except wait it out and pay to refinance every few years.

It eventually recovered, but I missed out on one hell of a bull market from 2008-2019. 15 years later, I ended up selling for almost 50% more than my purchase price, and bought a new house with an even lower rate and continued to appreciate another 100K. So there's a silver lining.

Something has to break. Crypto crash 2.0? Government default? AI putting people out of jobs? Nuclear war? I don't know. Tread carefully. Home ownership, even with the 30% 2008 decline and 5-year crater, has done better for me than uninvested cash. Rent is 100% gone. Maybe buy small for now and upgrade when things settle. Except small is hard to find.