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Fellow home owners, are you ready for the housing market to crash? (lemmy.world)

submitted 1 year ago by ericbomb@lemmy.world to c/asklemmy@lemmy.world

161 comments fedilink hide all child comments

I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

(page 4) 23 comments

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[-] jcit878@lemmy.world 1 points 1 year ago

Sid doesn't know.

Sid doesn't care

[-] waterbogan@lemmy.world 1 points 1 year ago

Already happened here, 30% wiped off house values since the end of 2021 and still falling, interest rates still going up. Incompetent goverment has crashed the economy hard. Fortunately we're mortgage free, and getting renovations done while the economy is down

[-] metaphortune@lemmy.world 1 points 1 year ago

I bought this year in the US w/ my partner. Thanks to my credit union, got a rate about 1% lower than average at the time. Mortgage payment is significantly less than rent and most importantly: it's going to be way, way, WAY less than rent in 10-15 years. Sure, we'll have other associated home ownership costs, etc etc, but it's worth it to us. Also, honestly, we LOVE this house. Took our time to find the right place and it has paid off, much happier here than any of the places we rented.

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this post was submitted on 29 Sep 2023

365 points (100.0% liked)

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