will the real estate market ever be affordable again?

Question

I am not kidding. How am suppose to invest my money in the market and invest in a real estate market at the same time on my average income. Average people are not rich you know. Who the hell wants to purchase a 1 bedroom and 1 bathroom for 200,000$. Does that make any sense whatsoever?

Answer 1

I am sure you are joking. It is affordable now. This is an incrediable time to buy, whether your own home or investment inventory.

Answer 2

If you mean will prices come down, probably not, at least not for the long haul. However, right now prices have dropped in most cities (markets) due to the higher interest rates and, in my opinion, overinflated prices.

As an experienced house buyer for my own use over the years I see a major problem with young people today. Many are not willing to buy houses in older neighborhoods. This is a mistake. You can find good values on used houses. Often the construction is even better than on new houses.

You need to learn the art of frugality to buy a house. You need to think about working up to your dream house rather than getting it right away. Those are simple facts of life.

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Answer 3

I don't see prices falling considerably.....They may dip a bit here and there in different markets. Now is a good time to buy because sellers may make concessions to sell since there are so many homes on the market.

But if you're waiting for a $200,000 home to morph into a $125,000 home, you may be in for disappointment.

Answer 4

It's affordable right now. Prices are at their lowest in several years. If you can handle a mortgage, now is the time to jump in to this market.