This past week, I’ve had 2 people in 1 day tell me to hold off on getting another car and buying a home. I don’t have money for either at this time, but the big expense advice is important to be informed of.
So, about a month ago, a colleague who works in home purchase financing said that it’s a bad time if one wishes to purchase a home and required to get a loan. A cousin’s spouse who’s been in real estate in my area for over 2 decades, had said that the home loan market is at it’s highest and will eventually drop but couldn’t specify timing.
After an event, my rideshare driver who’s previously sold used and new cars, said that it’s a bad time to get a new car or gently used (within the past several years, usually no older than 3–4 years if a person wants modern conveniences). They said that many used cars are being resold for as much as a new one and worse, with very high miles too. While my driver was in a electric vehicle, fuel ones have been selling better because over the pandemic, there’s either no or very few charging stations once places opened up again for people to get to. The few that are out of my general area, tend to have VERY long wait since it’s all limited beyond all metropolitan areas.
Even if I had the funds, I was advised to travel more before buying a home since that’d be cheaper in the meantime! The home and vehicle market is saturated because employed people generated more money over the pandemic due to receiving unemployment from the government. That same amount of people also, generated more…
