Rant: Not Priced Out but Not Priced In

Finding the home searching process more and more a game of not being priced out but not being priced in.

Backstory, started looking for a house right as the pandemic started. Rates were low and prices were creeping up steadily. Never really found a house my wife or I wanted.

Now that rates are higher and prices haven’t adjusted we find ourselves in an amazing position to buy a house but see the possibility of a market pullback. Can afford the houses we want but they intrinsically don’t have the value they sell at.

On last count, 12% of my graduating class from HS are now realtors so inevitably I get these Instagram charts that show how much house payments increase with interest rates. I the only one who sees that when interest rates go up your home price goes down therefore equity can go negative? Yes the payment is low but you can’t sell a house for what you bought it for.

At this point, riding the roller coaster with a locked in low rent is where I’m standing. We’ll see what happens in a year.

submitted by /u/g4evolution
[link] [comments]

Finding the home searching process more and more a game of not being priced out but not being priced in. Backstory, started looking for a house right as the pandemic started. Rates were low and prices were creeping up steadily. Never really found a house my wife or I wanted. Now that rates are higher and prices haven’t adjusted we find ourselves in an amazing position to buy a house but see the possibility of a market pullback. Can afford the houses we want but they intrinsically don’t have the value they sell at. On last count, 12% of my graduating class from HS are now realtors so inevitably I get these Instagram charts that show how much house payments increase with interest rates. I the only one who sees that when interest rates go up your home price goes down therefore equity can go negative? Yes the payment is low but you can’t sell a house for what you bought it for. At this point, riding the roller coaster with a locked in low rent is where I’m standing. We’ll see what happens in a year. submitted by /u/g4evolution [link] [comments]

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