Found a nice house, top of our price range, but requires us to move from our low priced starter home. The economy seems like a mess and economics was never my forte. Is it a bad decision to try to move up given current trends?
Found a nice house, top of our price range, but requires us to move from our low priced starter home. The economy seems like a mess and economics was never my forte. Is it a bad decision to try to move up given current trends?
Your financial situation could vary a lot in ways that may not provide good advice from internet strangers. Suggest talking with a financial advisor, see if you employer has access to one as a benefit.
For buying a house three key factors are: what is your current interest rate and potential new interest rate? Do you have stable income/recession resistant job (even if a recession may be a ways off)? How many months of an emergency fund would you have after the purchase (is that enough for your risk tolerance?)?
Timing the economy is challenging and many have lost out on trying. Even if you see bad signs for the economy, it can take years for that to have real world impacts on employment or housing values. The market can stay irrational/in denial for a long time until a crash.