Your Friends Are Crazy Wrong If They’re Telling You Not to Buy

By
Real Estate Agent with RE/MAX Preferred Realty

The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong!

Homes are more affordable right now than at almost any time in our country’s history except for the foreclosure years (2009-2015) when homes sold at major discounts. As an example, below is a graph from the latest Black Knight Mortgage Monitor showing the percentage of median income needed to buy a medium-priced home in the country today in comparison to prior to the housing bubble and bust.

Your Friends Are Crazy Wrong if They're Telling You Not to Buy | MyKCM

As we can see, the percentage necessary is less now than in those time periods.

The Mortgage Monitor also explains that home affordability is better today than it was in the late 1990s in 47 of 50 states.

Your Friends Are Crazy Wrong if They're Telling You Not to Buy | MyKCM

Bottom Line

Your friends and family have your best interests at heart. However, when it comes to buying your first home or selling your current house to buy the home of your dreams, let’s get together to discuss what your best move is, now.

By: KCM Crew

Courtesy of Greenville NC Real Estate Expert Liz Freeman.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Industry
Tags:
homeowners
homebuyers
home sellers
liz freeman
advice from friends

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,556,065
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The market is strong and will stay srong as long as there is such a shortage.

Nov 17, 2017 08:02 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
282,263

Liz Freeman

Ask me a question
*
*
*
*
Spam prevention

Additional Information