This is a YouTube video titled "Ep 81 🚨 Thinking about Waiting out the Housing Market? 🚨" containing a monologue or single-speaker discussion from September 3, 2021, analyzing the financial implications of waiting for the housing market to cool down, focusing on interest rate increases and mortgage payments.
For those considering to potentially wait out the housing market, here's a really simple at home math problem we all can do now. While waiting out the housing market, people have to keep in mind they're also waiting for interest rates to go up. The average expert believes rates go up about a half percent in the next six months. That half percent adds $100 a month to the average person's mortgage payment. Now, to equate that in house price, the average house has to drop by $20,000 in value. And I think we all can agree that's just not there. That's probably not going to happen. But that makes so while waiting for houses to potentially cool down, people have to keep in mind low interest rates are passing them by. That's a way bigger code.
