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?
life decision outweighs investment and fake currency imo, assuming you're not getting into a bad deal with the mortgage j that you can't keep up with. is breaking even but having made the right life choices not a good enough outcome? only the greedy j would think otherwise.
real questions would be, do you believe you will have enough fake fiat currency in the next few years to pay the fake mortgage. if rates drop, great you've saved, if they don't, you still get to live in the house. if the house becomes worth less than the note, but you're not planning to sell, and you can afford the monthly, why lose sleep about losing fake fiat imaginary gainz.
also look at rates back in the 70s-90s and historically to get some perspective.
the real value of a house is what you're getting out of it.
also noticed some of these kit house companies. you can buy a piece of land, then have kit home delivered to the property. if you don't have time or know-how, hire a crew to assemble it. may be cheaper than the cardboard box mcmansions with prices tags 10x the materials, land, and labor. make sure no hoa j will thwart your gardening and security plans etc.