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Build cash and wait for the right deal at the right time. Terms will become more favorable. Just from your tone, I'm guessing you've realized these things are overvalued at this time and decided to wait.

After the insanity will be the swift return to reality. If you're in a solid position when that happens, opportunities will be abundant.

Eta. For example... MT front page

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Build cash and wait for the right deal at the right time. Terms will become more favorable. Just from your tone, I'm guessing you've realized these things are overvalued at this time and decided to wait. After the insanity will be the swift return to reality. If you're in a solid position when that happens, opportunities will be abundant.

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I’ve been doing everything in my power to save. I downloaded that Truebill app and it has really helped a lot. Me and my wife hear about people buying homes right now and wonder why. I know one person who locked in at 3.5% and another just got 5% and I realize they are trying to get in before the rates get higher, but I wouldn’t want a house at 0% right now. The prices of the homes themselves are insane. If I can’t afford a reasonable sized house, then I’m not building no matter the mortgage rate. I’m not downsizing to something I don’t want because prices are ridiculous.

I would like a car before the end of the year, but I don’t have to have one if prices are going to go down a good bit at some point later on.

wtf are you talking about?

I didn’t break out the slide rule but new construction costs would have to drop like 40% to accommodate a 2 point rise in interest rates and maintain a similar monthly note. What you think is about to happen?

The cost of buying will remain high, correct.

I figured out you’re talking about building a house and buying a car. Initially read it as “building” (ordering new with you specific specs) a car.

Wait two years, save money, and buy then. Any reason you want to build vs buy a preexisting house? Do you own a nice piece of property on the lake or something? I would just stockpile cash and wait for a good deal (foreclosed house or desperate sellers).

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What would be your advice to someone who wants to build a house and buy a car?

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There is a secondary consideration here, presuming you're using loans for both.

Assuming a car loan while in the market for a home loan (or prior to closing) can lock you out of the mix for best rate offerings with mortgage companies. Just FYI.

I agree with patience. At this moment in time it is a bad idea to have to buy anything. We are at the apex of the auto market and real estate market. Those with cash positions will be able to take advantage of the bloodletting. The energy spike will rip through this economy like are tsunami.
Many don't see it coming but it is coming. The so called experts are usually late to sound the alarm. All you have to do is look at the sky rocketing revolving credit card debt to realize this economy is literally on borrowed time. Throw in the pause on student loan debt that eventually comes back into the equation of debt servicing and the reality sets in.

Devil's advocate. We are 2 years in and saying to wait another 3 years. Say this person is 42 years old and has an expected life expectancy of 80 years old. You are looking at 12% of their remaining life waiting on something that might or might not happen.

About to do a major renovation and my view on it is, it may take years to go down so we are just going to do it with current interest rates and when they finally go down, just refi.