Should You Buy a Home in 2023? (Housing CRASH Coming?)
Now in today's video, we are looking at is currently the best time to buy a home! I hope you enjoyed the video and if you have any questions let me know!
270,000 home buyers already owe more than what the house is worth! from yahoo.com. Also, home sales have fallen 5.8% in 2022.
Rates over the past year have more than doubled from lows at 2.7% to highs near 7%! Now, what does this mean a home that is worth $400,000 at 2.*% would have a payment of $1,495 per month! Now today that same home would have a payment of $2,323 per month!! This is because the rate today is near 7%! and over the 30-year loan you would pay more than $298,000 more for the same house!
Should You Buy a Home in 2023?
If it was up to me, I would buy the house and just refinance the house when rates fall back down! Some people will try and time the real estate market, I just say that time in the market is better than timing the market!
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