/biz/ - Business & Finance

>>19122107
>SO A HORSE IS FUCKING A NIGGER IN THE ASS
>NIGGER TURNS AROUND AND SAYS "AND I THOUGHT I WAS HUNG"
>THE HORSE SAYS "NOT YET YOU'RE NOT YOU FUCKING COON"

>>18412696
I have been thinking about this a lot and it is really going to boil down to what area you live in and what the govt bailout looks like. Here is my reasoning.

>One thing is for certain, a LOT of people are going to be missing mortgage payments both landlords and house owners
>With the rise in remote working, as >>18413597 pointed out more companies and universities will switch to remote operations which I believe will mean that rural real estate will drop less (and may even rise) while high priced city real estate will bear the brunt of the crash
>However, the govt has opened up the money spigot and especially during an election year politicians don't want to be the ones voting against free money for needy people
>With all that said, what's the gibs that they will inevitably approve going to look like?

So should you buy or wait? Well here's some questions to ask

>Look at the price of the home you want over the last 10-20 years, how far up/down is it from 2006-2008
>What kind of mortgage can you get? If you live in a rural area with a good HFA system you can get a 100-200k house with no money down and 2-3% fixed rate for 30 years. If SHTF in housing those rates probably won't last, so you may want to pull the trigger and pay now even if you could theoretically scoop up a house for less later.
>Is the place you want to buy urban (city) or rural? If it's urban, it will probably have a bigger price drop than urban.
>Lastly, are you buying this as a home or as an investment property? If the latter, can you be sure your property will be in high demand as a rental in these times when no one wants to travel?

Personally I'm in rural new england. I'm working to qualify for all my govt loangibs programs right now and going to pull the trigger on a place within the next 6-8 months. If the price drops so much that even with a more expensive mortgage I could get a place cheaper, I will take the hit to my credit rating and walk away and maybe do a cash out refi.