A Common thing we are hearing in this healthy real estate market is, "My friend/family member says now isn't a good time to buy." or "I'm waiting for the bubble to burst again." Well, the truth is, it's a great time to buy! Interests rates are still at all time lows and with the rising rent prices, it makes more financial sense to put your money towards something you can build equity in rather than putting it into something that will give you no return.
Take a look at this graph below from Black Knight Mortgage Monitor.
The only time it was easier to buy a home was during the market crash back in 2009-2012. Even then, even though the real estate market was down and prices were low, household incomes were generally less as well! Check out this map that really shows how much more affordable real estate is in a majority of markets!
Only a few places are less affordable than they were in the 1990s!
As far as the statement of, "I'm waiting for the bubble to burst again." Things are very different than they were back in the last market boom! Lenders are doing a much better job and making sure people can truly afford the home they are purchasing. To get started, contact us and we can get you in touch with a great loan officer to get you started!
Don Wixom (208) 880-5039 - Call or Text
Mitch Wixom (208) 800-9223 - Call or Text