Quote:
Originally Posted by MX rider
I agree with Laker14. Nobody really knows what the home market will do, same as the stock market. Unless you're flipping, who cares?
If you're newly retired and want a home, buy it. You could spend the rest of your life waiting for the " right time".
Tomorrow isn't guaranteed, and I've known too many people who never even made it to retirement. One of my best friends just lost his 45 year old daughter to cancer. Time isn't on our side.
Whats the point of waiting for anything at this point in our lives? Live for today. Worrying too much about the future at this point is fools gold, imo.
Luckily we bought our home 2 years ago and we just retired last fall. But when we did buy, we were less concerned with it being the "right time" and more concerned about finding the right home here in TV.
We could care less what our house is worth. We're too busy having fun, staying active and enjoying life here. Which is exactly how we planned to spend our retirement.
We're not well off, but financially we're fine. So we'll just continue on living the dream in this great community. All the things we can't control will take care of themselves.
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If you already have a home, I agree. If you have not retired and are still looking, it is a different story. The developer cannot keep building if his inventory is not moving. Does this mean he will sell some of his land to other builders? If so, what will be built? Or, will he just slow the pace? If he chooses this route, commercial will suffer. You can't open a store, restaurant, or medical facility if there are not enough customers. Will construction workers be forced to leave the area? This will harm the community, as well.
Or, will home prices go down to a level that brings buyers' interest? This means one can save a wad of money and enjoy a better retirement. More money in the bank makes living the dream much easier.
I get it. What I have stated are EXTREME cases. But, with hundreds of homes and lots sitting, what can the developer do? Keep building and go deeper into the red?
For those who have not bought a home, looking at other options or waiting is probably a good idea.