If you know me you would know that I took a job in Connecticut after living in upstate NY for five years while working in high tech traveling job. I took up work in a 75 year old factory, perhaps I got sick of looking at shiny stainless steel (Nah it was awesome)…. Quite the pivot. I sort of moved to CT without much of a plan for housing. Therefore, I crashed at my dads with thoughts of getting an apartment at some point or a house.
So about that house: I thought about buying a house and then reality decided to rear it ugly head. Houses that once was a normal price are now sell for $100k markup do to record low interest rates, money printing, carpenter shortage or whatever reason they decide to make up that day.
Above: Gamestop vs a random house I found
But, here’s the thing I have been through this before albeit a lot faster. I saw and participated in the GameStop craze in full swing and I remember it very fondly. Plenty of stories were written on how GameStop this, GameStop that and then it just dropped and while still higher than it was before it will never be back to $300/share.(pre-split) That’s how I feel about the housing market. It’s gonna do its thing then people like me will decide not to buy or move elsewhere and prices will be reasonable again. Once the housing market exits the news cycle that is my sign that the it is a good time to buy. You know how I know this, well remember…… lumber prices.
Lumber consumed the news-cycle for months, even a few years then just poof. Mass media just stopped and prices are nearly as low as they were in the pandemic. People forgot stopped caring etc. Then prices went down,
I never did get an apartment mainly because it was quite nice spending a bit more time with dad. If you read my previous article apparently, I am not the only one that wants to play asteroids. Also, some gardening with mom. I have a feeling buying a house will be more of a drag than satisfying any sort of need. Also, the logistics of acquiring a house is too much to ask while planning a wedding, starting a new job, and playing asteroids’ . While my fiancée is nearly 120 miles away while she finds a job in Connecticut.
All and all, I am happy with my current situation. Besides the longer I wait the greater the down payment, less interest I pay and so on. Even financially I am getting ahead with the state of the current affairs. all things considered.
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