The Ramsey Show Highlights Why House Prices Are Not Coming Down
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Apr 16, 2025 A couple grapples with their financial readiness to buy a home amidst rising interest rates. Discover how a persistent shortage of homes is keeping prices stable, debunking the belief that a significant drop is imminent. The talk dives into strategic buying tips, urging buyers to act now while considering future refinancing opportunities. It also emphasizes the resilience of real estate prices, encouraging proactive participation in the housing market and providing resources for finding trusted agents.
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Buy When You Can Afford It
- Buy a house when you can afford the down payment and mortgage payment within 25% of your take-home pay.
- Do not wait for perfect market timing; you can refinance later if interest rates drop.
Housing Prices Are Holding Steady
- House prices are not declining despite high interest rates because of a serious housing shortage.
- When supply is limited and demand is high, prices hold steady or increase regardless of rates.
Marry the House, Date the Rate
- Focus on buying the house you want now and 'date the rate' since you can refinance if rates improve.
- Use trusted resources and real estate agents to guide you through the buying process.