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RE: Is there a serious housing market bubble forming again?
And it is a sellers market. I had 10 offers the first day my house was on the market.
And it is a sellers market. I had 10 offers the first day my house was on the market.
^^^ Exactly! The moment they start telling you to buy and that home prices are going higher and higher and give BS ways to access the loans it is time to get out or be prepared to ride it out.
Look if you have $100k in the bank and want to take out a $200k mortgage to buy a home you plan to live in for 15+ years, the market probably isn't of issue. My concern is those millions of young people under 40 buying that first home that is over valued, with an adjustable rate mortgage, borrowing the down payment from family/friends! That is just a recipe for disaster and not something we should encourage!