Buy a house now or wait?

[Splenda88]

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I lived in same county in mid 90s ☺️ are the rents sustainable in a recession?

Nice.

I have not seen rent go down even during the 2008-2009 recession. It's a disgrace how expensive rent is there right now.

When you were there a solid 2BR/2BA was probably going for $400. I moved there in the early 2004, and our rent was $425 for 2/2 close to downtown West Palm Beach.

 

[EdgeTrimmer]

Nice.

I have not seen rent go down even during the 2008-2009 recession. It's a disgrace how expensive rent is there right now.

When you were there a solid 2BR/2BA was probably going for $400. I moved there in the early 2004, and our rent was $425 for 2/2 close to downtown West Palm Beach.

Honestly don’t remember how much I paid. I lived near Boca Raton. I stayed for some time in a single family home (3 BR/2 bath) for $90k in 1990 and then moved to 2 BR/2BA condo.

One thing with condos is HOA fees are unpredictable and tends to go up if not managed properly

 

[finalpsychyear]

No, June-August is buying season. Start tracking prices.

Seeing a slowdown finally in my area. Fingers crossed it increases. No one is liking 6 percent interest rates. I think more pain ahead.

 

[EdgeTrimmer]

Seeing a slowdown finally in my area. Fingers crossed it increases. No one is liking 6 percent interest rates. I think more pain ahead.

Yes, it’s a long cycle. First institutional money should stop flowing into residential properties and then need fed start cutting rates.