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ApolloKid t1_je2ofgk wrote

Reply to comment by Theo_dore229 in Would you buy a house in RI right now? Why or why not? by TransitionSea9480

You’re right that the rates aren’t high by historical standards, but home values certainly are. The values combined with current interest rates are making for higher monthly payments than the combination of any past rates and values ever has

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PepperJack731 t1_je2pksy wrote

I agree that values are high but I do not think they will decrease any time in the near future. COVID was a game-changer for the workplace and an increasing number of people are working from home. I suspect people who mainly work from home and commute to Boston a few days a week are going to continue driving prices up.

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Theo_dore229 t1_je2ospb wrote

Absolutely. My only point was mostly that it’s better to get your foot in the door regardless. While interest rates have definitely made housing prices go up, we have a fundamental shortage of housing. By a significant amount. At this point, even lower interest rates won’t solve that problem. It’s going to require coordinated policy decisions in multiple levels of government. That’s going to take a while to happen.

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