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YOUR PREPS HAVE MADE YOU MORE MONEY THAN WHAT YOU MAY THINK; DON'T LET ANYONE TELL YOU DIFFERENT

🕑 Added 2021-04-25 18:05:03 +0000 UTC

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My 2 cents @marti baker girl: Never overpay for a house, be patient. Never use your emergency fund, except for an emergency. Never pay for a home for 30 years, the price of the home will double and you made the banker rich. Keep looking, fixer-uppers can be a bargain. Hope this helps.

Marti Baker Girl

AP, wonder if you could take on a math challenge. I am mathmatically challenged (seriously) - Sustained a brain injury while on active duty and a second one a year after retirement. I see the 2008 housing crash repeating itself only multiplied by a gazillion. I was explaining to a friend who is trying to buy a home now because interest rates are so low that given the following scenario I don't see it being that great of a deal: Interest rates are low (2%). A house that sold for $250K last year is today selling at $350 -$400K. The buyer offers maybe $20K over what the list price is. The bank will only finance for the appraised price which is say $350 -400K. The buyer uses up his emergency fund of $20K to pay the rest. If buyer pays the home off in 30 years. does the interest paid plus depreciation when housing values go down outweigh jumping at a current low interest rate loan? I would think it better to wait, buy when the market is more reasonable and this would more than compensate for a present day low interest rate for an overpriced house. Thoughts from any of you who are good a math please.

That wood pile is like an open vault in an unlocked bank. You need gaurd dogs and armed guards.🤣