Trust me, I won't be able to keep up this posting pace for very long...but I have several insightful articles about what's going on in the market right now. This is a Time magazine article that discusses the pros and cons of buying now or waiting for potential price drops later in the year.
The author basically argues that by waiting for further price reductions, buyers might miss out on low mortgage rates. If and when the Fed starts to jack up rates to curtail inflation...any supposed savings in purchase price is lost in a higher rate. A buyer may even lose money over the life of a loan with a higher rate!
This isn't to suggest racing out and buying a house before your ready is a good idea. But if you have money saved and are emotionally ready to invest in your first home or "move up" due to a future addition to the family...now might be the perfect time.
Read the full article here.
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