Message from @ophiuchus
Discord ID: 490907485734174734
I'm so tired of paying what equals a monthly mortgage payment in rent.
For sure
Me too
But, most analysts say we're at the top of the market
Gonna look to buy in the next year. Was scheduled to look at 2 homes right after cville...but considering my situation at that time, I backed out.
Yeah this current economic cycle is gonna sour within a few years
How low will the market drop though?
Dat yield curve
That’s the question
@Deleted User no one knows
No one really even knows if it will drop
No one knows if we're at the top
It's just the consensus among experts
5%? OK on a 100k house that's 5K less than a years rent at 500 per month.
^^^^
Yea for sure, just stuff to consider.
Some people think it’s just the generic market correction that happens every 10 years or so, that happens every time the fed increases interest rates. Other people think it’s going to be really bad since a lot of assets are considered to be overvalued (which was prompted by the buy up after the 2008 recession.)
My thoughts as well, but it couldn't hurt to wait a year and a half
I did the math on that as well @Deleted User
There is no real predicting of a market cycle. For example if the average time between recessions is 7 years, none of the sample recessions will have lasted 7 years.
Ehh yeah and then another 18 months and another...
No explicit predicting, however watching for the yield curve to invert is a standard hallmark.
You're a bit older than me, though 😏
I'm in the get a house, get married, have kids mindset full stop though.
Oh no doubt.
@Deleted User and mow the lawn
If the market doesn't take a serious turn for the worse in the next year and a half, I'm buying. There's no stopping me
Hell yeah brother. BOOMERTOWN Usa
By then, my savings will be more than sufficient for a very sizeable down payment
Never get a 30 year
I’m sure you know that but still
30 years are the worst thing on the planet
I plan on putting down at least half the value of the home
15 should be no problem for you then
I’m not incredibly well versed in real estate finance but uh. Spending over twice what a property is worth just sounds unpleasant.
Obviously, given my profession, I won't be able to live like a king, but I'm very frugal and have some money tucked away
I'm looking at $150k properties
It's hard to do, but shit, it's a goal
A 150k property in central Florida probably isn’t *too* hard to find
You can get houses for 6k here