We sold our house 6 weeks ago or so ago (significant cash out) and moved across the country, and we decided to rent for a bit and gamble that the market would collapse more. But we hate renting and we are already capitulating and putting an offer on a house we found and love. Even with our cash the mortgage will be about the same as before, due to the interest rates. So now we will be gambling that the interest rates will not continue up for long, and that they will decrease below their current level within a couple years. It feels wrong from an investment perspective, but it feels right from a life decision perspective, and it feels right from a security perspective (owning a place we can secure, and where we can grow a garden, etc.), and in the event of a currency crisis it would be bad to be super long cash. Side note: we don't have kids or pets, so it's just my wife and me; and we both have family nearby.
What would you do? And why?
Check out George Gammon's new video about the answer. https://odysee.com/@GeorgeGammon:9/3-reasons-home-prices-will-fall-by-50:f
I woke up at 5am ish and clicked this video and watched it, and it helped to solidify my fears about the boomer retirement / die-off spiral, and is also adding to the "wait it out" side of the scale. Thanks for the link. I'm gonna check out more of his videos today.
George is not always right and he plays up the doom factor but he does explain a lot and he also has his Rebel Capitalist show. A true libertarian who believes in free market capitalisn. His white board videos like this one are real value.
Yeah it was a pretty good video; easy format to share with people who don't know a lot about the financial system also.