The Ramsey Show Highlights
Why House Prices Are Not Coming Down
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.
06:26
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Quick takeaways
- The best time to buy a house is based on personal financial readiness rather than attempting to predict fluctuating market conditions.
- A persistent shortage of available housing maintains stable or increasing prices, despite the challenges of rising interest rates.
Deep dives
Timing the Home Purchase
The optimal time to buy a house is when you can afford it, rather than trying to predict market fluctuations. It's crucial that the mortgage payment remains within 25% of your take-home pay to ensure it’s manageable. Even if interest rates are high, the option to refinance later allows homeowners the flexibility to reduce their payments. Those who are financially ready, like Ethan and his wife, should start saving for a down payment and not delay due to market fears.
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