Based on the run-up in housing prices lately it is almost too late for many. Still doable but much more problematic than 3-5 years ago.
There are fewer affordable housing options than just a few years ago. It seems like we may be heading for a stagflation situation much worse than in the Carter years.
Definitely true. However mortgage rates are still low — for now.
“Based on the run-up in housing prices lately it is almost too late for many. Still doable but much more problematic than 3-5 years ago.”
Oh boy did you hit that nail on the head. Early last year we went down to our property in Florida (10 acres) and were ready to do a deal to build. When our builder quoted us the price for a simple 2,100 sq. ft. house ... on our OWN property ... would be over $410,000 I almost dropped dead. Not more then 12 months earlier the price was $280,000 ... and that price included digging a 1 acre pond. The new price was without the pond, which would be another $30,000+
Needless to say that blew our plans sky high.
We have land we can’t afford to build on ... so depressing.