We were all set this year to first build a 40X60 steel barn on our property in Florida. Then afterwards sell our home (which is paid for ... no mortgage) and build down there.
Those plans just went out the window in the past few weeks.
The price of the steel building went from $28,000 to $43,500 (just the steel no site work) in just 3 months.
With the home prices so high we could get a $300,000+ HELOC and build the house in Florida, but when it came time to see our home in NH I could just see our home crash from approx $350,000 to $150,000 in a matter of 12 months.
Time to just sit tight and save money.
In in a similar position.
Want to move and build, but by the time the building is complete, the current house value may have crashed.
Holding pattern
....”Time to just sit tight and save money”....
Te plans for new stove and frig were put on hold when Biden was seated for me....and I restocked pantry plus.
I'm in that boat also, the problem is the value of the dollar has been declining with all the free money that's been printed. The proof of that statement is in the accelerating inflation we're experiencing.
At some point -- likely within the next six months -- prices have to fall because people will out of necessity, have to cut back spending to afford the basics such as food, gas which have also seen big time inflation.
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