timmahfast t1_j5s4m2d wrote on January 25, 2023 at 4:15 AM

Buy a condo and build some equity. Then move up to a house in a few years with the help of that equity. Not ideal, but you'll get there eventually.

teknic111 t1_j5tzsh6 wrote on January 25, 2023 at 3:43 PM

Still a gamble. If home prices do drop, like everyone here is saying they will, then there will be no equity in that condo. It may even have an underwater mortgage.

blaze1234 t1_j5uinj2 wrote on January 25, 2023 at 5:41 PM

yes sometimes better to just rent

timmahfast t1_j5uay5l wrote on January 25, 2023 at 4:53 PM

If they take that gamble they have a home they can afford, even if prices drop. If they don't take the gamble and house prices continue to creep higher they will be stuck renting and it will take them far longer to buy a house. And if home prices drop more than 20 percent we're all probably in big trouble no matter what we own.