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re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 10:48 am to Epic Cajun
Posted on 12/20/23 at 10:48 am to Epic Cajun
quote:
but don't feel like they can afford (or just don't want to afford) to buy something larger in this current market.
That’s entirely the current insane interest rate increases. It’s a unique circumstance. In a regular market, they’d probably scale up into a new house
1
Posted on 12/20/23 at 10:54 am to Upperdecker
quote:
That’s entirely the current insane interest rate increases. It’s a unique circumstance. In a regular market, they’d probably scale up into a new house
You’re also ignoring the 5 figures in transaction costs that come from buying, selling and then buying again.
Buying a “cheap” starter home that you can’t grow into is almost always going to be a massive financial mistake.
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