Started By
Message

re: The math for buying a home no longer works, per WSJ

Posted on 12/20/23 at 10:32 am to
Posted by nola tiger lsu
Member since Nov 2007
5354 posts
Posted on 12/20/23 at 10:32 am to
quote:

I was sick of renting


The basis for many bad home buying decisions. Enjoy being underwater, high interest, paying 3x for the house all while probably living in a worse neighborhood and spending more on repairs than if you just waited it out.
Posted by 904
Forever under I-10
Member since Dec 2009
792 posts
Posted on 12/20/23 at 10:38 am to
quote:

The basis for many bad home buying decisions. Enjoy being underwater, high interest, paying 3x for the house all while probably living in a worse neighborhood and spending more on repairs than if you just waited it out.


Rent has/is going up as well. It's entirely possible now to rent until your late 30s / early 40s and still not have saved up enough for a traditional down payment if you have an average income and aren't a hermit who spends no money on life.
Posted by Areddishfish
The Wild West
Member since Oct 2015
6284 posts
Posted on 12/20/23 at 3:17 pm to
quote:

The basis for many bad home buying decisions. Enjoy being underwater, high interest, paying 3x for the house all while probably living in a worse neighborhood and spending more on repairs than if you just waited it out.


I partially agree. Buying shouldn't be a "ah what the hell let's do it" decision. But let's view the market presently. Houses prices may come down some, but they are only going to climb higher long term. We are currently seeing interest rates in line with historical norms. The sub 6% mortgage rates for much of the 2010s up until 2022 were an anomaly. I don't know if that comes back and if they do, congrats you can refinance to a much lower rate! If you have no hurry to buy, I wouldn't. Some people have to though and that's just the reality. And renting is going up every year. It can't be looked as a fixed price every month.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram