02/05/2024
Don't get discouraged. Even though home prices likely won't decline much this year (or the immediate foreseeable future), real estate is still a wealth builder, especially if you plan to stay in your home for a while, which more and more people are doing. Homes are not only assets but possess "consumptive value"...meaning it's a place to live in, enjoy, and make memories. Hypothetically, if you buy your home with a loan and stay in it for 30 years, you will have value (a lot of it) and the end of the 30 years, along with a roof over your head that whole time, and no doubt a lot of good memories. While it's true that you have to comfortably afford the payments, it's not about solely about "how much did I get it for." I've always said "buy a home that you love!"
Despite predictions housing prices would come down, values keep rising in 2024. The reason? The tight inventory.
