New Realtor talking point: "Marry the house, date the rate"

Now compare the price of house in 1971 versus the price of a house now. Even adjusted for inflation a home costs such a higher percentage of our income it’s astounding.

And rent is so expensive how can anyone save up a down payment for a home?

Using the 22 years of rates not going down example doesn't really help her argument

While I don't disagree entirely, that person, assuming a woman, contracdicted themselves in the same post.


You would've also waited 20 years to refinance

In fairness his / her point about renting for 22 years isn’t bad.


I get what you’re saying, but I don’t think her point is totally invalid either.

Talked to the real estate agent the other day and she told me the biggest problem she is having right now is getting people approved with the bank. People are trying to buy and the prices are going down but the bank is being strict with loans.

She said for a 400k home right now you need an income of 200k. I was pretty surprised at that number

marry the house; date the rate; frick the realtor. is better

i love when people bring up the historical rates back then and then leave out the cost of housing and inflation metric

I was talking to a buddy about this yesterday. My issue right now isnt the rates as much as the stupid over evaluation of home prices. Houses that shouldnt be going for more than 150 tops are being listed for 220/230. Paying 7.1 on something that artificially inflated seems like a bad investment to me.

You guys all act like real life isn't continuing to happen all around us. People get married, people die, people get divorced. The "buying frenzy" from 2022 is over but the housing market is still strong because of short supply. And before you say it, yes, this is highly dependent on location. Some markets are starting to slow down while other really haven't and probably really won't.

The biggest problem facing the overall market is that you've got a lot of houses out there that are financed at some really really attractive rates. I'm personally at 2.65% and will stay on the sidelines for a long time due to this fact. This creates problems for people trying to enter the market because you have a much smaller portion of the the potential pool willing to sell. This creates higher prices and in turn puts more pressure on the market.

It's a vicious cycle. We got addicted to really low rates + the covid money printers going brrrrrrr. Both of those put us in this tough market.

I do agree that as rates start to trickle back down the intensity of the market will start to heat back up and we'll start all of this conversation over again.