Your New Kentucky Home
Are you waiting for the prices to drop more? They probably will. But, consider this, there will be more foreclosures, and this will place more homes on the market. The more houses available, the cheaper they will be as sellers try to entice buyers to their property. It’s simple supply and demand economics. When the world is covered in gold, the value of gold will be less. When gold is rare, it’s priced higher.
This would seem to be a good thing for shoppers, but here’s the catch…looks like about April 1st the government will allow the interest rates to rise and we’ll see the interest rates go up substantially and quickly.
So, here’s the thing…you might get a better price on a house, but it will have to be a lot to make up what you’ll be spending on the higher interest rate. Unless of course, you have the cash to buy what you want without worrying about the interest. In that case, lucky you!
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