I'd love to buy your condos - but if we look at renting versus buying... It's cheaper to rent versus buy until mortgage rates drop below 6%. We'll just be sitting here adding to the mortgage payment pile until then.

A house is laughably out of reach.

[–] Alteon@lemmy.world 1 points 10 months ago

Your mortgage payment can often be cheaper than your rent payments. If your waiting until the rates drop, you'll be in an insane amount of competition to get a property.

If you buy now, you can then refinance at a later date and get literally $100k's off your mortgage. The downside is that your gambling on interest rates dropping.