Granted, buying a house back in the 80’s was dealing with interest rates around 10%, but you could still get a decent deal. You still can, but timing is everything. So, save up your money, and when the next crash hits, wait until prices come down (usually a year) and buy it then. Literally no one else will be buying. The last time this happened was in 2009 through 2012 or so. Then things started to go back up. But if you had cash, you could’ve scored. We bought 3 lots for 20K each which had originally been selling for 60k in 2006. Then we built a couple of 3B/2B houses as rentals. They have skyrocketed in value the last 3 years as Californians are escaping hell and snapping up properties. Never buy during the high crazy times. Just save your money so you have it ready to go when the market tanks (and it does periodically).
Granted, buying a house back in the 80’s was dealing with interest rates around 10%, but you could still get a decent deal. You still can, but timing is everything. So, save up your money, and when the next crash hits, wait until prices come down (usually a year) and buy it then. Literally no one else will be buying. The last time this happened was in 2009 through 2012 or so. Then things started to go back up. But if you had cash, you could’ve scored. We bought 3 lots for 20K each which had originally been selling for 60k in 2006. Then we built a couple of 3B/2B houses as rentals. They have skyrocketed in value the last 3 years as Californians are escaping hell and snapping up properties. Never buy during the high crazy times. Just save your money so you have it ready to go when the market tanks (and it does periodically).