I would like to know your thoughts.
It is time to buy or it is time to save money ?
Isn't that song?
Anyway, I base my decisions on the specific property. Good deals, or bad deals, are the same in good economies and bad.
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!!