Is now the right time to buy? Philly or LA?

[Eric Samuels]

What’s up everyone,

First time poster here. Goal is to get a multi property and house hack. Would like to live rent free but am willing to wait it out to build equity as well.

I’ve been able to save up enough to put money down on a house but am a little confused on finding direction. I have a job in LA but currently am back with my parents in Philly. I would be willing to put potentially 20k down on a house out of pocket after it’s all said and done. Would it be smart for me to find a place in the outskirts of LA or should I move back to philly if my job will allow me to work from there indefinitely? (up in the air right now)

Also is it still a good time to buy due to the rates? I’ve heard it might be good to wait it out until the end of this real estate cycle but I don’t know if I want to do that necessarily. Would love some direction!