Should We Wait for Interest Rates To Come Back Down?
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- čas přidán 29. 08. 2023
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They aren't coming down for awhile
First quarter of 2024 the earliest, but very little at a time and eyeball the inflation as they go to make sure it doesn't start rising again
I gotta say,my first mortgage was 6.4 % and that was just normal. In fact it was considered very reasonable at the time 1999. This fixation people have on the interest rate is so weird. Yes we had crazy low rates for a decade,but in reality, interest rates are more normal at where they are now. These interest rates are not high,they’re normalized. Save and buy a home you can afford at 6%. It’s not rocket science.
Millionaire in his 30s with a 80k income. Possible but Dave going "no matter what you do" is crazy.
Also, talking about 8% increase in real estate is both not true in the long term (historical data) and surely not sure in the next 12 to 24 months.
He may have been speaking about that specific location. Where I live, prices have almost tripled in 10 years
@@Spimmick long term average does not equal last 10 years. That's recency bias. Also, comparing an average to the next x month is silly
I would say the caller is better off renting, especially as his needs are changing (expanding family). I'm not surprised anymore that Dave did not advised that. Real estate is a religion for this man. Why commit to a small house and drain money at 7% when clearly the caller will increase his income in a few years. Just wait it out, Dave is such a FOMO trap
All homes are purchased on debt. If they lower the interest rate to 1%, now we have buyers. If they raise it to 12%, we have a shortage of buyers. How the Federal Reserve decides for our country to leverage debt dictates whether you will own that asset that the US taxes for you to hold on their land, and they give back to the bank to loan out for the next generation. Remember… governments dictate property rights. If you have to pay an annual fee to have ownership, you don’t have ownership.
before even watching this Dave gonna say No , use Cash !
He said a fourth of guy’s take home pay on 80k salary 15 yr fixed. So guy can afford a $1,000 mortgage 😂😂😂
I predict they will come down closer to the election season.
Haha I made this comment before listening to where Dave essentially says the same thing.