Our job market is still resilient, but our economy is affected by continuously rising interest rate and high inflation rate. Ukraine war and pandemic didn't help with global supply chain issues and product shortage either. Over the last 12 months, the Fed has increased the fed fund rate from 0.25% to 2.25%., and plans to increase it further to 3% in this year. Stock market has declined more than 20% for
the year. For people who plan to buy a house for the first time, what advise would you offer them? Is interest rate a big factor for the purchase? How would current economic condition affect housing market and house purchase? Will house price decline sharply or stay stagnant in next 6 months or longer? What is the current mortgage rate? Use these questions to construct your advice. Your post should should have answer to address, but not limit to, these questions. How about those who are
buying house for investment?