Lumber crash leads to 'blowout' sales as prices crater

Re:Lumber crash leads to 'blowout' sales as prices crater by Dylan16807 on Thursday September 16, 2021 @12:48AM (#28548135)

Hang on let me check your other comments in this thread.

You do!

Most people, when they get a mortgage, they're going deep into debt. You have about that much in liquid assets. You can definitely afford it.

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Re:Lumber crash leads to 'blowout' sales as prices crater by tayo42 on Thursday September 16, 2021 @01:04AM (#28548229)

Ehh I think it would be irresponsible to use all my savings like that, plus you need to buy the land to build on and pay for your current place

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Re:Lumber crash leads to 'blowout' sales as prices crater by Dylan16807 on Thursday September 16, 2021 @01:20AM (#28548331)

You still end up owning the house, so it's more of a conversion in savings. And you'd probably be paying it off over time, with the help of ongoing income, if the mortgage rate isn't super high.

Land depends on where you go, no comment there, but keeping up payment on your current place during construction just means you end up paying for 21 years of housing on a 20 year mortgage, or 31 years of housing on a 30 year mortgage, not a big deal.

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Re:Lumber crash leads to 'blowout' sales as prices crater by tayo42 on Thursday September 16, 2021 @01:57AM (#28548544)

hmm thats an interesting way to think of it.

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Re:Lumber crash leads to 'blowout' sales as prices crater by blitzar on Thursday September 16, 2021 @05:17AM (#28549595)

Nothing wrong with having $1mil in a bank account, $1mil house, $1mil mortgage (yes naive / general example - but I am sure you can get the idea).

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