Should You Wait Until 2025 To Buy a House?
If interest rates fall, should you wait or buy a house now (if you have the means to?). We examine the impact of interest rates, the factors that impact interest rates, and the pros and cons of buying now versus waiting in this video. Thanks for watching!
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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
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⏱️ Timestamps:
0:00 – Start Here
1:04 – Impact of Mortgage Rates
4:05 – Factors That Impact Rates
6:02 – Pros & Cons of Buying vs. Waiting
9:57 – What I’m Personally Doing
Are you renting, or buying? Or do you own a home? Let me know by leaving a comment!
Renting! We were thinking about buying in 2023 and I’m SO glad we didn’t. We’re waiting for the rates to go down.
living rent-free
Renting. I’m not buying at these crazy rates.
Buying a second home and rent out our current home 🤠
Renting! In my city, rent is less than half of what the mortgage would cost. I can shove the difference into other investments and increase my wealth much faster with less stress
I got my house at the end of 2019 with a 2.99% interest rate. I was fortunate to get it when I did.
Definitely good on you! I’ve known people who waited for a crash and they’re regretting it.
sheesh the good old days, im 27 im fucked lol
@@Francisco-po1cfmy brother
2.65% in 2017. Very lucky too
“Please subscribe, and I love you” laying it on kinda thick there Humphrey 😉😂
Got to, man! Lol
@@humphrey Reminds me of “Welcome to Costco, I Love You”
Don’t buy. Interest rates don’t matter when the housing prices are super inflated. Average home is half a million dollars. Ridiculous.
And when the average home is 600,000? Then what? The whole point of home ownership is the lock in your most expensive line item in your monthly expenses and not have cost of housing as a line item when you retire. If you can afford a home and want to purchase one, then purchase a home.
@@sportagus3600 is more than the average person can afford
People up here in Canada said this when homes were 400k now they’re almost 900k average.
Okay, keep renting then. Home prices have fallen only once and demand for homes is still higher than supply by over 10M homes.
THE biggest problem in the housing market right now is PRIICES, not so much the interest rate.
People who are trying to get you to buy a property right now are either trying to sell their property or working for a bank.
Rates can always be changed through a re-finance in the future but the purchase price will always stay the same. Dont fall for the trap of low rates, buy when home prices are back to normal.
New normal?! lol… go find a way to make more money like a real person with common sense.
Prices arnt going to fall much if at all. Even if they do they will start going back up again
@@xianx1866 yes having more money makes things easier but it still doesn’t justify overpaying for things. You don’t get wealthy by overpaying for things.
@@JC.LC. I didn’t say anything about overpaying is a way to build wealth. It’s about the market and supply & demand that makes whatever value of things.
@@xianx1866 you gotta know when to buy. Right now the market is more inflated that it has been in a long time. Right now is a real bad time to purchase, if you are wealthy or not it doesn’t change the facts.
Best time is always now if you have the means, and if it’s going to be a rental.
People will have to accept reality that we won’t ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. I now look towards the stock market to fuel my millionaire goal. Sure I’m not alone in my chain of thoughts.
U.S. stocks have historically been the best investment. Much safer than real estate. Treat it like real estate, don’t panic sell and impulse buy.
I like both. But in my experience, most of the millionaires that I know have gained their wealth through diversified investments and they all had a sort of advisor helping out with informed decisions.
Agreed, advisors are ideal reps for investing jobs, and straight up! that’s how I’ve stayed afloat for 5 years now, accruing over $1m in return on investment, after 100s of thousands invested. IMO, home prices will need to fall at least 40% before the market normalizes.
@@M.Herlihy real estate prices exploded, interest rates exploded, but my wage the same, i’m screwed !! who is your advisor please, if you dont mind me asking? in dire need of portfolio restructuring
She goes by ‘’Katherine Nance Dietz’’ I suggest you look her up. To be honest, I almost didn’t buy the idea of letting someone handle growing my finance, but so glad I did.
We bought in Dec2022…. house 450k, 215k down (Parents helped a lot but we worked hard to save also) 235k loan 6.625%. Hoping rates keep coming down to lower our rate. We also have a no cost refi by 12/31/2025 so we’ll see how low we can go before we lock in our long term rate
I’m 58 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I’d love to diversify.
Dorianjtownsend 💯
She mostly interacts on Telegrams, using the user-name
Dorian was my hope during the bear summer “‘ last year. I made so many mistakes but also learnt so much from it , and of course, from Dorian. She is my number one when it comes to crypto and TA.
I’ve always wanted to trade Crypto for a long time but the volatility in the price has been very confusing to me although I have watched a lot of YouTube videos about it but I still find it hard to understand.
Dorian Townsend Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life’s
Why is it when folks are talking about how much home you can afford, do not take into account the additional ancillary fees. You mentioned a $500,000 putting 20% down. Some people do not have $100,000. Did anyone say PMI???? You failed too mention other red herrings. PROPERTY TAXES. Based upon a $500,000 home in say Maryland or San Francisco—What does that work out to? Where is the Home insurance? I can go on and on? It makes a renter think as bad as rent rates are, you are not looking at ALL the variables when it comes to the TRUE cost of home ownership. So really, Interest rates are only one factor, a major factor, but NOT the only factor in determining when is the best time to buy a home.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.
“Stacy Lynn Staples” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Rate changes aren’t all that relevant. The lower the rates, the more people can afford to buy, the more bidders, the more expensive the housing. Just buy if you’re ready and don’t if you’re not, but then you can’t complain in 5 years that you should’ve bought back then.
Hi Humphrey, great fan of your work.
I think there’s been slight calculation error with the monthly payments. With 6.5% interest, monthly payments should be around $2500 and with 6%, it should be around $2400.
I’m 20 years old, lost my dad about half a year ago and I am going to receive 350k inheritance soon. Would it be smart to grow my money in stocks while in college and then pay down mortgage afterwards, or should I go for real estate investing first since I’m still young?
I would advise the counsel of a seasoned financial pro. It may seem expensive, but as the old saying goes – “you get what you pay for” “Expert solutions require Expert providers” – my mantra
Straight up, investing with the aid of an advisor did the trick for me in barely 5 years. Retired with couple millions at 50. I worked hard everyday for 32 years and my annual salary was over 100k, enough to help me by far beat the retirement age of 65.
@@heatherholdings bravo! I’ve worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now.. mind if I look up this professional guiding you please?
I’ve stuck with the popular Sophia Verdekal O’neal since the pandemic to date, and her performance has been consistently impressive. To be honest, if it wasn’t for the covid-outbreak, I wouldn’t have supplemented my stream of income, but so glad I did.
curiously copied and pasted Sophia Verdekal O’neal on the web, at once spotted her consulting page and was able to schedule a call session with her, she seems impeccable ..
Not info for most people but for the few who are looking into having a house be built I’m starting this very soon.
I’m in the midwest (US) looking to have a 1700 sq ft house set on a basement be built. I looked at building about a year ago and decided to wait til this year. In that one year span concrete for my project went up 10.5k in price. I knew contractors were going to get more expensive and probably material cost too so I was prepared for some of that but that concrete increase took the wind out of me. Thankfully we got an interest rate cut but still that one really stung
Thanks for continuing updates 👍 I’d rather trade the stock/crypto market as it’s more profitable. I make an average of $34,200 per week even though I barely trade myself.
Hello, how did you achieve such biweekly returns? I’m a newbie and I’ve lost a lot of money investing on my own. Please can you advise on how to go about this?
Matthew Roszak is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.
YES!!! That’s exactly his name (Matthew Roszak) so many people have recommended highly about him and am just starting with him 😊 from Brisbane Australia🇦🇺
I’m surprised that this name is being mentioned here, I stumbled upon one of his clients testimony on CNBC news last week.
getting a broker is a smart move when it comes to building a strong financial portfolio that matches your long-term goals.
It’s always wise to seek guidance from experts.
I HATE when ppl say that mortgage rates are lower than the 50+ year average. Yea they are but the average home cost 10x the average salary now vs 2-3x the average salary back then
After selling a couple homes in 2023, I’m anticipating a housing crisis in order to buy inexpensively. As a backup plan, I’ve been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
The top experts, however, have access to confidential information and data that is not made available to the broader public. Being knowledgeable enough to use them successfully is quite another. Big returns, not changing stochastics, are the key. Rewards and risks must be balanced. To reach your aim, pick the right size and turn your edge as often as necessary.
I concur; I’ve been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.
That does make a lot of sense; you appear to understand the market better than we do. This coach is who?
Rebecca Nassar Dunne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@MattieAntonio However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@@Lourd-Bab Oh please I’d love that. Thanks!.
@@MattieAntonio Clementina Abate Russo is her name.
Lookup with her name on the webpage.
Why do you plan to buy next year if you say it’ll cost you double?