Anyone worried to but their first home in 2020 with recession news all over ? Buy now or wait ? What will you be doing in 2020 ?

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I thought I was overpaying in 2010. Home has appreciated from 290 -> 700 since. We can’t time these things. Buy when the time and economics are right for you

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Wow, nice! Mine during the same period appreciated from 550 to a measly 650...

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What recession? This economy is the strongest in years!!!

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I haven't heard any reliable news about a recession. Most of it is political fake news.

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Is it the same recession people said was coming last year? Or the year before that? Or is this a new recession?

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SA2 - seems like ur advice is live like Bill Murray

You should buy a cat instead. Proven to be appreciating assets during past recessions, and offer very limited re-occurring capex following the initial capital post

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Cat ETFs. Cuddly Therapeutic Felines

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Get a lease. Wait for the shit to hit the fan

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I'm buying a house in the spring regardless. Sick of apartment living.

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Same. Been looking for a year now and rent just increased by 40%.

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Recession coming?!

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Growth in certain markets has been insane and will continue to be. Our home in Raleigh, NC has skyrocketed in value or the last 5 years, and in certain neighborhoods houses never even go on the market and sold word of mouth. The 2020’s will emerge cities like Raleigh into tech boomtowns.

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Just don’t buy more house than you can afford and you’ll be fine. A recession will hit at some point during your 15 or 30 year mortgage. It really doesn’t matter if it’s the day after you buy, or 7 years after you buy.

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No analysts can predict anything. It’s just guessing people. Go about your lives.

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Or stay informed, prepare/don’t prepare, then watch it play out 🤓

It’s difficult to predict market cycles so make the decision to buy based on your finances. If you can safely afford the down payment payment and have a solid emergency fund go for it as long as you don’t plan to move for 5 years or so.

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If you stay in the house for 15 years does it matter? Cyclically... it might average out. If you can’t be sure you will live there for at least 5 it might not be best to buy anyway. Have you considered upgrading to a swankier rental?

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Housing market isn’t slowing down in my opinion. People have been thinking this every year since 2013.

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I brought one and it’s one of the best decisions I ever made. Having equity to stand on gives me more confidence that I can weather whatever geopolitical, socioeconomic, or climate crisis comes next

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Hmm...investing in an asset that might temporarily lose value, or continue lightning money on fire in rent. Hmmmm.

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Analysts now reporting an adjustment may come in 2021-2022 with general consensus around slow growth in 2020. We’re technically in a corporate earnings recession but thoughts are there were massive investments made w/benefits to show in long term over the next couple of years. Positive outlook on global growth. GDP growth in line with expectations. There’s a housing market shortage but it’s still a buyers market because the majority would prefer to rent at this time. Risks: currency rates, inflation, geopolitical risks have decreased with less focus on trade Source: CNBC this morning

I hope housing prices take a dive... all of these places everywhere need too many updates 🤷🏽‍♀️

They do a good job at presenting the facts. You can take the data and determine your views. The unknown is having a shortage combined with low demand. It does appear that housing permits have increased recently so people agree with you “Residential building permits: Housing construction has picked up in recent months, buoyed by low interest rates. But while housing has historically been an important indicator of the health of the economy, the sector is smaller today than in the past, so it may be less meaningful as an indicator.”

I plan to buy a condo in 2020 as well

I’d wait if you can

If you dont plan to sell it in next 10y, then it does not matter much. Go for it.

See how things look in March. Historically the recession signs/chatter start 6-9 months before the downturn is recognized.

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