Your Friends Are Crazy Wrong If They're Telling You Not to Buy

Your Friends Are Crazy Wrong if They're Telling You Not to Buy | MyKCM

The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong!

Homes are more affordable right now than at almost any time in our country’s history except for the foreclosure years (2009-2015) when homes sold at major discounts. As an example, below is a graph from the latest Black Knight Mortgage Monitor showing the percentage of median income needed to buy a medium-priced home in the country today in comparison to prior to the housing bubble and bust.

Your Friends Are Crazy Wrong if They're Telling You Not to Buy | MyKCM

As we can see, the percentage necessary is less now than in those time periods.

The Mortgage Monitor also explains that home affordability is better today than it was in the late 1990s in 47 of 50 states.

Your Friends Are Crazy Wrong if They're Telling You Not to Buy | MyKCM

Bottom Line

Your friends and family have your best interests at heart. However, when it comes to buying your first home or selling your current house to buy the home of your dreams, let’s get together to discuss what your best move is, now.

Contact us for experienced representation when buying or selling a home in Amador County CA.

Post a Comment

Current Homes for Sale
Upcountry
City # Price Range
Pine Grove 38 $185k - $720k
Pioneer 63 $120k - $1.6m
Volcano 13 $250k - $1.0m
Down Country
City # Price Range
Fiddletown 11 $200k - $1.1m
Ione 39 $166k - $1.3m
Jackson 48 $190k - $2.5m
Plymouth 15 $299k - $3.0m
River Pines 2 $105k - $235k
Sutter Creek 32 $205k - $1.5m
New Listing

Email Alerts

Subscribe Today!
Have

Questions?

Contact Us Now!