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> Originally, my plan was to use it for a house down-payment, but with the mortgage rates having nearly doubled in the last 6 months, that's kind of out of the

> Originally, my plan was to use it for a house down-payment, but with the mortgage rates having nearly doubled in the last 6 months, that's kind of out of the question at this point (especially having moved to a higher property value area to be closer to friends and family). Higher interest rates lead to lower home prices, which should make it easier to make a down payment. Interest rates may double, but mortgage payment amounts typically end up staying the same. You are in a prime position to buy a house. In the next 30 years, mortgage rates will likely decrease and you can refinance to a better rate, and end up paying a lower price for your house than what you would have had mortgage rates stayed low.

Carp 4y ago
That's what my plan is. Just waiting/hoping housing prices drop within the next year or two. Been waiting a while now though so who knows if they'll actually come down
- ricardobayes 4y ago
  It will be tough finding where the sweet spot is of lowest prices vs still acceptable interest rates.
- anon291 4y ago
  Home prices are coming down in my area of Portland, OR, which was already an overpriced market. Homes have been on the market much longer, and several homes have had price reductions in my neighborhood. Ultimately though, I wouldn't try timing the market, if you can afford the down payment, and the monthly, and like the house, I'd go for it. Always time to refinance later.
  - jokethrowaway 4y ago
    Portland got some pretty negative press in the last few years. I barely knew Portland existed before that and now I just know I wouldn't want to settle there. Real estate seems still up in general, I assume because of a mix of inflation and BlackRock / investors overpaying for it to escape all the other failing assets
  - sizzle 4y ago
    Aren’t they building multi-tenant buildings like crazy that are sitting vacant cause of the huge rent prices?

Carp 4y ago

That's what my plan is. Just waiting/hoping housing prices drop within the next year or two. Been waiting a while now though so who knows if they'll actually come down

ricardobayes 4y ago
It will be tough finding where the sweet spot is of lowest prices vs still acceptable interest rates.
anon291 4y ago
Home prices are coming down in my area of Portland, OR, which was already an overpriced market. Homes have been on the market much longer, and several homes have had price reductions in my neighborhood. Ultimately though, I wouldn't try timing the market, if you can afford the down payment, and the monthly, and like the house, I'd go for it. Always time to refinance later.
- jokethrowaway 4y ago
  Portland got some pretty negative press in the last few years. I barely knew Portland existed before that and now I just know I wouldn't want to settle there. Real estate seems still up in general, I assume because of a mix of inflation and BlackRock / investors overpaying for it to escape all the other failing assets
- sizzle 4y ago
  Aren’t they building multi-tenant buildings like crazy that are sitting vacant cause of the huge rent prices?