Bonus question: what IS actually a good time vs. a bad time to buy a house, if that is an actual thing?
In: 0
Good market time means that the houses are a a low price. Because if the prices were high, and theres a recession, you lose money. Example, You buy a house for 200k. You get a loan for the 200k plus a variable interest of lets say 12%. If a recession hits. Your house value can drop to 60k but guess what? You are fkd because no one is gonna buy the house for that 200k because the current value is 60k. And on top of that, that variable interest can jump from 12-80% in the blink of an eye. So not only are you stuck paying for the house that is no longer at its peak value, if you try to sell it, you are getting no where near what you paid for.
Latest Answers