Home prices are going to start falling, and it's going to be a major shitshow for the country

[Raftergirl]

62. No.

We’ve been in our starter home for 31 years. Paid $108k. Bought it when the interest rate was 12% iirc.

We have refinanced a few times and have a mortgage interest rate of 2.75%.

We made it into our dream home, slowly over the years. We did a cash out refinance at one point, but everything we have done in the last 10 years we paid cash for. We have put about $250k into it.

It’s only 1600 sq feet and on one floor so we can stay here forever.

My mortgage is $800/month.

I couldn’t even rent a studio apartment for that price.

We have a considerable amount of equity in it, but if it goes down in value, I do not care at all, because I have no intention of selling it.

The market in my town is still pretty strong, because people want to move here for the schools.That is the primary reason people want to live in my town. But since there is is very little inventory on the market, homes which come on the market are selling quickly and for more than a few years ago - but not ridiculously higher.

This is not an area which has ever had huge increases in home prices, but we don’t suffer big busts either. We also have a very stable and well paid workforce being the Capital District of NY.