High price/low interest vs Low price/higher interest

[Vince Dent]

Hi all, I’m in Columbus,Oh. We are in a high demand/low inventory housing market right now. House prices are at all time highs. I’ve always learned that buying when home prices are low/higher interest is better than the opposite. High home price/low interest. Buying a house with built in equity hopefully. Why would anyone buy in this environment in Columbus. Im think 2021 home prices have to start dropping. Any thoughts are appreciated.

[Lien Vuong]

Unfortunately there are no crystal balls for the prediction of the market so waiting on the sidelines to adjust wait to time the market is not the best move to make. You can wait for the market to drop and increased rates but given that time and equity loss if you bought today vs tomorrow, it might be a better approach to find some value in the market then hold out for another 2008.