Time to buy or time to save money

2 Replies

Hey @Ruben Correa

Honestly, I would save... but that's primarily because I err on more of the "less-risk/conservative" side. I think @Joe Villeneuve has a great point above where the decision to buy or save right now does technically depend on the deal itself, and your own financial situation/real estate goals - however, for me from a purely "market condition" standpoint - I say to wait and just save. 

The economy moving forward is currently uncertain. We don't know how the Pandemic is going to affect things in the short-term, and that can be reflected in a drop in home values and a potential foreclosure crisis. ... I know the argument against that, is that property values are currently rising, and the federal interest rates are super low. But for me, I do believe that the fed rates will continue to stay low for the next 2-3 years, and I feel like by then, we'd have a better idea of how things in the Real Estate market will land at that point. 

Hope this helps!!