For US folks, is right now a good time to buy a house? (lemmy.world)

submitted 1 day ago by Suck_on_my_Presence@lemmy.world to c/asklemmy@lemmy.world

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Since the election I've kinda buried my head in the sand to try and stay sane, so I'm not sure what projections are looking like for the real estate market. Unfortunately I need to move pretty ASAP and I'm having the worst luck with rentals.

So, anyone have any advice or an idea of the outlook in the next few months?

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[-] RBWells@lemmy.world 11 points 1 day ago* (last edited 1 day ago)

The best time to buy is when you need to, it's hard to time the market and if you are going to stay there for a long time all that matters is can you afford it. Where I live they sure seem overvalued, but when we bought our house I was sure it was overpriced and the theoretical value now is 2x that amount not even 5 years later, WTF? So my guess is we will see a downturn, especially with the new government, but really the best time to buy doesn't always align with the best price.

Remember that maintenance on a house is expensive too, build that into your affordability calculation.

this post was submitted on 27 Dec 2024

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