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re: New Single Family homes listed for sale hits highest level since 2008
Posted on 4/25/24 at 10:42 am to fallguy_1978
Posted on 4/25/24 at 10:42 am to fallguy_1978
quote:
We have an older house that we bought when prices were still low from the '08 downturn and we refinanced it during Covid at 2.3%. Our mortgage is cheaper than I could rent a crappy 2 BR apartment for these days.
We're in the same boat with maybe wanting something smaller when it's just the two of us, but it makes zero financial sense. We refinanced to 2.8% in 2019, and I don't even think we could realistically afford to buy our own house now with the value increase and current interest rates.
In fact, our current mortgage is less than what our LAST house would cost us if we bought it today. This house is bigger and exponentially nicer in every way. Why on earth would we move?
1
Posted on 4/25/24 at 10:47 am to HouseMom
Yeah, not many people are going to want to move and trade a 2.5% mortgage for 7.5%. I guess there are times where people are forced to move or some people can sell and pay cash for another place with the proceeds.
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