STOP listening to the media when it comes to the housing market. They have been calling for a housing “bubble” and for home prices to drop for almost a decade and continue to be wrong. Anyone that listened to the media over a trusted, local Realtor or lender missed out on $208,000 in home appreciation (equity) on average over the last 7 years.
The TRUTH is that historically, one of the best hedges against inflation is homeownership. Consider the options: -Hold money in cash, stocks, bonds, crypto -> could lose money to inflation and/or a looming recession -Home appreciation rates have historically outpaced inflation -Rental rates will continue to go up -Home prices have stayed flat or gone up during every recession in history except for 2008 (which was caused by excessive fraud and irresponsible lending practices in the housing market)
Don’t buy into the media hype. Don’t try to “time” the market. Even with interest rates higher than what we have seen during the last 10 years, at least you can refinance your mortgage if/when rates go back down. You can’t get the lost appreciation back in your home if you wait. Call Jordan Monroe at Legacy Mutual Mortgage (Preferred Lender of BCSdreamhomes.com) with any questions you have, 979-224-5360