I am assuming this is not correct based on your response below, so I will bring this up with him tomorrow.

@Kendall ButlerBenjamin Franklin — 'Don't put off until tomorrow what you can do today.'

Yes, prices of properties are incredibly high and it all could come crashing down tomorrow.

If my husband paid off the mortgage tomorrow, around $170K,  would that or would that not be considered a $170K gift to our son, exceeding the yearly limit?  

I’ll be doing some more research tonight and tomorrow to make a decision.

That will be something I'll need to research tomorrow

I say, “No thanks, I am going to save my money and have to be up at 5am tomorrow to go for a morning walk, while listening to a finance podcast in order to learn how to best invest that money I just saved.”

With this challenging housing market in mind, let’s wash our hands, put on our face masks (until tomorrow), social distance, get vaccinated, and let’s look under the hood…Consumer Price Index (“CPI”).

@Tory Sheffer my only thought is would you be able to afford to purchase it if the current owner died tomorrow?

The market could crash tomorrow or 20 years from now, but do you want to sit and wait?