how did the housing market get so inflated, and is it different from what happened in 2008?
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Why the quotations for “afford”? Thought you said people have money now while they didn’t in 2008?
Also curious for your take on buying vs renting. ELI5. I’m an older renter by choice, and part of it is I don’t want to buy a property without a substantial down payment. Won’t be 20% or anything but even 10% on a 500000 house is 50K minimum (I live in a HCOL—500K is a 800sq foot condo). I also don’t want to be house poor-if actually want to furnish and decorate a home if I bought a house/condo.
But I often get advice from folks basically pleading for me to buy and to “stop throwing away money” and saying you “don’t really need that much up front” as a first time buyer so I’m a bit confused.
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