RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Should You Buy a House While the Stock Market Is Volatile?

Home COVID-19
March 31, 2020
Reading Time: 2 mins read
Should You Buy a House While the Stock Market Is Volatile?

The coronavirus pandemic has already begun to affect the economy,and it won’t be clear for a while how much of an impact it will have. The stock market has been rising and falling dramatically and investors have seen their portfolios rapidly lose value. Many people have lost their jobs or face the prospect of losing them.

The Federal Reserve has slashed interest rates to help stabilize the financial markets, but numerous analysts have warned of a global recession. That has many people wondering whether they should buy a house or wait.

Reasons to Buy Now
Low interest rates mean you could buy a house and have lower mortgage payments than you otherwise would, or you could purchase a more expensive home than you would otherwise be able to afford. Sellers who are facing financial problems might be eager to sell their homes and might be willing to accept less money than they would have in a more stable time. If you’re a first-time homebuyer, things might be simpler for you since you wouldn’t also have to worry about selling a house and possibly losing money.

Reasons to Wait
Many sellers are anxious about the economic situation and concerned about prospective buyers coming to their home and possibly spreading coronavirus. Some have therefore taken their homes off the market so they can wait for things to settle down before deciding how to proceed. If you bought a house now, your dream home might be re-listed in a few months and you could miss out.

Even though interest rates are low now, the economy is in turmoil, which means lenders could be more cautious than usual. They might have stricter standards to make sure they don’t issue mortgages to borrowers who might not be able to repay them. That means that it could be harder to qualify for a mortgage now than it was just recently.

You could face additional inconveniences. For example, you might only be able to take a virtual tour of a house you’re interested in buying, experience delays in scheduling the inspection and appraisal, be unable to sign documents in person and have trouble booking a moving company.

Should You Buy a House or Wait it Out?
Right now, the economy is unstable and the future is uncertain. Think carefully about your personal situation and how comfortable you are with risk. Buying a house now might be a good idea, provided your job is secure, you have enough money for a down payment and you would be able to afford closing costs, homeowners insurance, private mortgage insurance (if applicable), property taxes, moving costs and other expenses. If you assumed that everything would be fine, bought a house and then lost your job, you would be in trouble.

ShareTweetShare
Paige Brown

Paige Brown

As Content Editor, Paige Brown creates, curates, edits and publishes content for RISMedia’s ACESocial platform. She also helps develop marketing materials and email campaigns, as well as online news, blogs and profiles for Real Estate magazine. Paige graduated from Central Connecticut State University with a B.A. in Journalism and Public Relations.

Related Posts

4 Plants to Avoid in Your Yard
COVID-19

4 Plants to Avoid in Your Yard

February 23, 2022
3 Ways the COVID-19 Pandemic Is Impacting Luxury Real Estate
COVID-19

3 Ways the COVID-19 Pandemic Is Impacting Luxury Real Estate

June 21, 2021
Should Your Student Take a Gap Year?
COVID-19

Should Your Student Take a Gap Year?

August 10, 2020
Road Trips, RV Camping Can be Vacation Savers
COVID-19

Road Trips, RV Camping Can be Vacation Savers

July 15, 2020
Fourth of July Fun in the Year of COVID-19
COVID-19

Fourth of July Fun in the Year of COVID-19

July 1, 2020
Should You List Your House During the Coronavirus Pandemic if You Still Live There?
COVID-19

Should You List Your House During the Coronavirus Pandemic if You Still Live There?

June 17, 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

Break a Leg: How Acting Techniques Can Enhance Your Pitch

Authenticity, emotion and empathy are all a big part of a successful client presentation, and actors have the answers. Read more.

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • 4 Fun, Family-Friendly Pool Games
  • Creative Ideas for Using Sidewalk Chalk
  • Where to Travel This Summer That Isn’t the Beach

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.