A low rate without seeing associated line fees can be misleading. You can buy down your own rate and not even know it. Not saying you did but it's worth mentioning.
Another article showing concern in the housing market- yet the author may have lacked critical thinking
- Thread starter GON
- Start date
BrendanC
$100 site donor 2024
Wife calls crawl space my man cave. However it's not quite what I imagined a man cave would be.
Great rate. The only thing better is when you pay it off and rate drops to zero. Paying off a mortgage may not absolutely be the best possible investment one can make but the lowering of stress in retirement is unmeasurable.
Generally- going in to retirement without a paid off house is poor planning. There are a few whose income is such they can afford a mortgage in retirement. Obviously- there are exceptions to everything.
I agree 100% stress free retirement.
I also think paying off a mortgage as fast as possible is a good investment. Actually Im against anything longer then a 15 year loan.
Look at it this way. a young couple buys a home for $400,000 puts down $30,000 so in essence they bought two homes for over $800,000 with a 30 year mortgage @ 5.98%
They bought one for themselves at 400k and paid the bank another 413k in interest.
I know some people will say, oh well, they could have invested that money and made more back. I dont think so considering the US population has a median savings of $8,000 in the bank.
Well, once they knock out the mortgage in 15 years they can then pour that money into anything they want. Also being they are a bit more strapped by paying the larger mortgage amount at 15 years, they will waste less money on things like expensive auto and boat loans.
GON
$150 Site Donor 2025
Yes, the undesirable homes priced the same as desirable homes in the same subdivision are no longer selling like hotcakes.
https://creditnews.com/markets/a-re...cans-believe-now-is-a-bad-time-to-buy-a-home/
A record percentage of Americans believe now is a bad time to buy a home
GON
$150 Site Donor 2025
We searched nationwide for a single family home for well over five years. We found very few houses on the market that were desirable and stayed on the market without going under contract 48 hours after the home went on the market.
The article you published had New Orleans as one location with a slowing housing market. We found a home we liked in Slidell, LA. Before we could fly out to tour the home, the home went under contract.
Non desirable homes may be lingering in the market, as they should. Desirable homes contract in under 48 hours after being listed for sale. Market is red hot when a desirable home goes on the market.
GON
$150 Site Donor 2025
We purchased an "interim" home. We overpaid about $50k USD for the home, but good homes are so hard to find.
We say interim, as not sure this will be our forever home, and we were "homeless" living in Air BNBs, so when we saw a home that worked, we made an offer. Our offer not only was above list price, but we waived inspection, we waived apparel, etc. We made the offer in early July 2024, and closed end of August 2024. Simply an example about how "hot" good homes still are.
Check out the price cut.
Somebody struggled to count their zeros.
Cant build homes and get roads in fast enough for demand in coastal NC this is NOT an exaggeration. Major Builders in our county and nearby counties have to hit the pause button until spring as the roads and utilities get finished.
Freaking amazing and why when we read about doom and gloom we have to realize this is a HUGE country, equal in size to all of Europe so results in consumer spending will vary.
Freaking amazing and why when we read about doom and gloom we have to realize this is a HUGE country, equal in size to all of Europe so results in consumer spending will vary.
The housing market is going to be just fine. Just ask the Village People. 
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