Nov 16 2017 5018 1

Dated: 11/16/2017

Views: 54

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.

Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Jul 19 2018 5018 1

Housing Will Not Fall Victim to Next Economic StormSome experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could

Read More

Jul 18 2018 5018 1

Demand for Homes to Buy Continues to ClimbAcross the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers

Read More

Jul 17 2018 5018 1

4 REAL Reasons Why We Buy A Home!We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones.No matter

Read More

Jul 16 2018 5018 1

First-Time Home Buyers Continue to Put Down Less Than 6%!According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased

Read More