4 ms·

so if you have a lot of cash, but still need a substantial loan, it’s just an… okay time to buy? i hope?

• theGnuMe 3y ago
  If you can afford it and have a 5+ year horizon, probably. Look at your local market pre-2008 crash prices and how long they took to recover to get a rough timeline. Where I live took 10 years. I don’t think it’ll take as long to recover if there is a crash because there are a lot of millennial buyers. Right now new construction can run better deals by paying down mortgage rates. But new construction has downsides too as the location may be less desirable or the lot size smaller etc…
  • BaculumMeumEst 3y ago
    Yeah I'm buying for the school district, so I plan to be there at least 12 years. It just feels bad leaving behind my current ~3% mortgage, but what can ya do! There's new construction in the area I'm looking at, but it's well out of my price range unfortunately. There are empty plots of land that cost more than my current house..
    • woleium 3y ago
      In the 80s there were exotic (literally, that’s what they were called) deals such as leasing your current property with license to purchase, so you can keep the lower mortgage rate and charge a higher rate to the new buyer, which you can use to pay the mortgage on your new property
      • theGnuMe 3y ago
        These are coming back into fashion.