My wife and I are getting into stiff arguments about buying a house. I keep telling her it’s gonna crash. You can’t get gainful employment anywhere and she keeps complaining I’m waiting too long. Meanwhile, somehow, prices keep going up and up and up with no basis for it. Blows my mind. Can someone explain HOW people are buying houses now with the economy like it is?
While not everyone has a good job and is making money, many people do. You don’t need everyone in the housing market. If not many new houses are being built, the prices will go up.
I have need of some minor finish carpentry work at the homestead, but I can find no one who wants the job. That leaves me to believe the economy is booming and everyone is flush with money! (sarcasm).
Another factor is age. I was comfortable buying a house cash (profits from previous house) at age 60. Ten years later, if I were to move, I'd get what I can for this residence and the next residence would be a rental.