Quote:
Originally Posted by StorytellerStealth
Genius most everyone buys at the top of the market. If you already have a mortgage, higher mortgage rates will not affect you. History has shown if you are in for the long haul buying a house, you will not lose money.
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I didn't. I bought my house in the Piedmont 26 years ago, after it had been on the market for 18 months and the owners then desperate to sell it. I payed almost $50k less than they had been asking. Sold it two months ago with the market at its peak.
My current home I built in 2005 when the market in this resort area was down. Two years later my house was worth twice what I had in it- condos up the street being bought for stupid money. Then the 2008 crash and most of them were underwater.