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Ask HN: Is it a good time to buy a house?

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Re: Ask HN: Is it a good time to buy a house?

#11

Post by Kon-Peki »

DontchaKnowit wrote: post #7
newaccount2021 wrote: post #3

Earlier quoted context omitted.

you're overthinking it and drowning the discussion in jargon its very simple - rates are higher, they are going higher still, and they are going to stay high homes will be a minimum 20% cheaper in 18 months the Fed is completely focused on reducing asset prices, and they have the tools to produce the outcome they want

Yeah ill believe it when I see it. When eggs double in price in 2 weeks, its hard to believe houses are going to decrease in price over 18 months. Maybe in real terms when accounting for inflation but the actual dollar value seems destined to go up in spite of interest rates

> When eggs double in price in 2 weeks, its hard to believe houses are going to decrease in price over 18 months

There’s a global avian flu pandemic going on, the worst ever seen. More than 100 million chickens dead. This has almost nothing to do with fiscal policy.

Re: Ask HN: Is it a good time to buy a house?

#14

Post by willio58 »

bearhall wrote: post #6
willio58 wrote: post #5

My understanding is almost always yes if you can afford it and want to own a house. If the prices go down, you can refinance and pay less. If the prices go up, you’ve already bought the house so it’s just free money. If you have a good emergency fund layoffs can be managed.

if prices go down you can’t just refinance and pay less. refinancing requires paying out the old mortgage. so that doesn’t check out if prices are down. if interest rates go down you can refinance. it’s not a zero risk purchase. the price going down means you’ve lost value but your loan value stays the same.

Thanks for clarifying. Of course you can just wait for the market to pick up again (assuming you're not living in an area where prices will continue to fall for years) but that's some good info.

Re: Ask HN: Is it a good time to buy a house?

#15

Post by DontchaKnowit »

Kon-Peki wrote: post #11
DontchaKnowit wrote: post #7

Earlier quoted context omitted.

Yeah ill believe it when I see it. When eggs double in price in 2 weeks, its hard to believe houses are going to decrease in price over 18 months. Maybe in real terms when accounting for inflation but the actual dollar value seems destined to go up in spite of interest rates

> When eggs double in price in 2 weeks, its hard to believe houses are going to decrease in price over 18 months There’s a global avian flu pandemic going on, the worst ever seen. More than 100 million chickens dead. This has almost nothing to do with fiscal policy.

understood but eggs are unique only in the magnitude of the price increase. Every other product under the sun has seen and is still seeing inflation currently. Why would home prices go down in those conditions?

Where I am, it is STILL damn near impossible to get a house bought and that is after enormous increases in interest rates over the last couple years.

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