Its not about regreting dude we simply cannot afford to buy a house with these prices and rates because the bank simply wont approve it with the average income 😂
Yeah. It’s best to not buy if you can’t afford. Time to make more money AND get married to someone with a decent income. That’s the only way. Me and my wife make 200k post tax and we got approved for a 1M loan. Of course we couldn’t actually afford that we bought a house for $635k @ 5.5% in Sept. mortgage after insurance etc is 4k
As Washington Dc region resident, Everyone knows how it’s the rent market nowadays instead of buying a home ! All signals are here for massive layoffs on the way to then blast home foreclosures … invest on yourself for a profitable side hassle to have a big percentage on your dream home down payment.
👎 Ultimately, the decision to buy a house with interest rates at 6.84% depends on your individual circumstances and priorities. It's crucial to weigh the pros and cons, consider your financial situation 👍
Buying now or later? One of the biggest factors is location. In some cities, prices have come down a lot, but the supply of available homes is still very high in terms of historical numbers. In other cities, builders are inactive, and prices may go up soon. Let's take Austin as an example: Rents fall like a stone here. Great 2-bedroom apartments are available for under $1500, and they are falling by 10% per year. The city has a massive oversupply of options for rent. There are thousands of options to choose from. Buying a slightly larger home? --> You would pay $800 to $1500 on property tax alone! With all costs, owning a home is at least 3 times more expensive than renting. In each city, this math looks different.
Jeb im actually waiting on a new construction giving a 4.9 rate plus 1750 in incentives but builder is behind and may have new construction in February but my issue is the monthly i already qualified for 525k but need to get a mntjly that we realistically can afford im not getting into a home only to lose it thats my worst fear thats why ive been patient and waiting for my dream home
Jeb’s message hasn’t changed, buy when you can afford it instead of holding off and waiting in hopes of buying at the bottom of the market. Unfortunately the bottom was almost 15 years ago and pre-pandemic prices are a thing of the past, the population has only grown and the supply of housing hasn’t kept up over time. Housing prices may not go up every year and in some markets might fall a but, a large scale crash in prices just isn’t happening short some full on economic calamity.
You didn't miss the boat so don't keep waiting for your little 80% market correction and 2% mortgage rates. That will never ever ever happen. If you need a house and it makes financial sense buy now
Jeb 80% of Orange County buyers might not really care about high interest rates because they are paying cash for properties. For regular lower middle income buyers Affordability and quality increase as you get away from population dense areas.
Unfortunately prices aren't likely to come down in most markets. Best case in my opinion is that prices remain flat in real terms......Nominally, prices are likely to continue right at the pace of inflation
@@JebSmith Changes nothing about what I'll said. I wont have any regrets about not purchasing what I can't afford. And I can't afford these prices. The interest isn't the issue. It's the prices. Even if they lowered interest rates, the homes are too high. Also, homes around me have been selling for less than what people paid in 2022 so idk lol
![[#2024MAMA] G-DRAGON - 무제(Untitled, 2014)+POWER+HOME SWEET HOME+뱅뱅뱅+FANTASTIC BABY | Mnet 241123 방송](http://i.ytimg.com/vi/Ox29z5Nf1Uk/mqdefault.jpg)
Its not about regreting dude we simply cannot afford to buy a house with these prices and rates because the bank simply wont approve it with the average income 😂
Yeah. It’s best to not buy if you can’t afford. Time to make more money AND get married to someone with a decent income. That’s the only way. Me and my wife make 200k post tax and we got approved for a 1M loan. Of course we couldn’t actually afford that we bought a house for $635k @ 5.5% in Sept. mortgage after insurance etc is 4k
Thank you Jeb for your advice on this important matter.
Always!
As Washington Dc region resident, Everyone knows how it’s the rent market nowadays instead of buying a home ! All signals are here for massive layoffs on the way to then blast home foreclosures … invest on yourself for a profitable side hassle to have a big percentage on your dream home down payment.
👎 Ultimately, the decision to buy a house with interest rates at 6.84% depends on your individual circumstances and priorities. It's crucial to weigh the pros and cons, consider your financial situation 👍
Always!
Buying now or later? One of the biggest factors is location. In some cities, prices have come down a lot, but the supply of available homes is still very high in terms of historical numbers.
In other cities, builders are inactive, and prices may go up soon.
Let's take Austin as an example: Rents fall like a stone here. Great 2-bedroom apartments are available for under $1500, and they are falling by 10% per year.
The city has a massive oversupply of options for rent. There are thousands of options to choose from.
Buying a slightly larger home?
--> You would pay $800 to $1500 on property tax alone!
With all costs, owning a home is at least 3 times more expensive than renting.
In each city, this math looks different.
Real estate is local as you know…….. my understanding is all of Austin isn’t like that. It’s just certain pockets of Austin. Is that not right?
@@JebSmith mmgrea has a lot of data about Austin's subareas. It also covers other cities. So yes, location even in Austin matters.
Jeb im actually waiting on a new construction giving a 4.9 rate plus 1750 in incentives but builder is behind and may have new construction in February but my issue is the monthly i already qualified for 525k but need to get a mntjly that we realistically can afford im not getting into a home only to lose it thats my worst fear thats why ive been patient and waiting for my dream home
God bless you for this nice video
I really appreciate you for your sincerity. You are highly knowledgeable in this field. Thanks 🙏 ❤
Jeb’s message hasn’t changed, buy when you can afford it instead of holding off and waiting in hopes of buying at the bottom of the market.
Unfortunately the bottom was almost 15 years ago and pre-pandemic prices are a thing of the past, the population has only grown and the supply of housing hasn’t kept up over time. Housing prices may not go up every year and in some markets might fall a but, a large scale crash in prices just isn’t happening short some full on economic calamity.
Agreed, David! Preach, Preach
You told us we didnt miss the boat just two months ago.
Long term you didn’t but short term, rates are likely at stay higher until there is certainty with inflation and the economy
You didn't miss the boat so don't keep waiting for your little 80% market correction and 2% mortgage rates. That will never ever ever happen.
If you need a house and it makes financial sense buy now
God bless you
You are highly knowledgeable and i appreciate your sincerity.
🙏🏻🙏🏻🙏🏻
Bro I swear you post this title like 4-5 times
nope, first time........go check.
Jeb 80% of Orange County buyers might not really care about high interest rates because they are paying cash for properties.
For regular lower middle income buyers Affordability and quality increase as you get away from population dense areas.
the latest report shows 28.6% of buyers are cash in OC, that's a long ways from 80%.
Basically your screwed either way. High rates or High prices. But to voluntarily enter into both is crazy.
how else would you enter?
Just buy what you can afford. Get out of debt and increase your income
No longer bothered by interest rates. if the price of homes doesn't come down, lower interest rates won't change my mind on not buying.
Unfortunately prices aren't likely to come down in most markets. Best case in my opinion is that prices remain flat in real terms......Nominally, prices are likely to continue right at the pace of inflation
@@JebSmith Changes nothing about what I'll said. I wont have any regrets about not purchasing what I can't afford. And I can't afford these prices. The interest isn't the issue. It's the prices. Even if they lowered interest rates, the homes are too high. Also, homes around me have been selling for less than what people paid in 2022 so idk lol
Wrong...