Home Buying Advice Dave explains the financial trap of waiting for lower interest rates while home prices continue to climb, using a real-world example of losing $150,000 in equity.
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Full Transcript
So it’s got to drive you crazy I would love for you to ask him do you remember when you started looking the price range that you were looking in And then compare to what he goes in the contract Just to see has that number changed Or is he still looking in whatever he started three years ago Yeah that would be interesting But I think it wasn’t so much he was waiting for rates to go down as he just couldn’t find the right house That was his case That was the situation But he did have a couple of houses he liked and he didn’t bid high enough on them And that 20 000 or 30 000 that he didn’t want to offer on that house back in 2023 he’s lost much more than that and buying the same house now as you point out for much more.