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Long time lurker. Just wanted to see what people have as backup plan if housing prices in the US don't come down (which they haven't).
I know homelessness is on the rise, as is moving in with family.
I have also been hearing a lot more grumbling about moving to foreign countries or emigrating where its cheaper.
I think if I was unhoused or looking for cheaper housing I would currently be looking into the latter.
What is your opinion?
My plan is simple, keep saving and saving and saving and buy when there’s a decent drop in housing price or interest rates and if neither of these two occur then just buy when I have saved up enough for a huge down payment where the bill will be low regardless of the house price or interest rate. At the end of the day the goal is to buy a house with a comfortable low enough payment where you can live comfortably and not be financially stressed month to month. (Price or interest is irrelevant) if you just think of the end outcome(mortgage payment).
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- 1 year ago
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