Ask HN: Is it a good time to buy a house?

Re:Ask HN: Is it a good time to buy a house? by willio58 on Monday January 23, 2023 @03:44PM (#34494749)

My understanding is almost always yes if you can afford it and want to own a house. If the prices go down, you can refinance and pay less. If the prices go up, you’ve already bought the house so it’s just free money.

If you have a good emergency fund layoffs can be managed.

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Re:Ask HN: Is it a good time to buy a house? by bearhall on Monday January 23, 2023 @03:48PM (#34494802)

if prices go down you can’t just refinance and pay less. refinancing requires paying out the old mortgage. so that doesn’t check out if prices are down.

if interest rates go down you can refinance.

it’s not a zero risk purchase. the price going down means you’ve lost value but your loan value stays the same.

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Re:Ask HN: Is it a good time to buy a house? by willio58 on Wednesday January 25, 2023 @01:06PM (#34521869)

Thanks for clarifying. Of course you can just wait for the market to pick up again (assuming you're not living in an area where prices will continue to fall for years) but that's some good info.

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