If you want to buy a house that you expect you can live in for 10 years, I think it’s fine. I do expect increased inflation (which is great for long-time mortgage borrowers, but not great for someone who pays a market price at a time of historic low rates and sells a few years later at a time of steeply rising mortgage rates).
If you have rental housing you like, I think I’d wait (and I say this as someone who “owned” two different houses (owner-occupied). I owned (or bank owned and I slowly buy it from them) because I wanted to own. It’s been a net wealth creator, but I think by less than renting and dumping every extra amount that housing cost into S&P 500 would have been.)
The problem with considering the alternative as the S&P 500 is that for lots of people, money leaks out on the way towards the index fund and transforms into new cars and nice vacations and three decades later, they don’t have a paid-off house nor a fully-funded account with which to buy one and have money left over.
If you have rental housing you like, I think I’d wait (and I say this as someone who “owned” two different houses (owner-occupied). I owned (or bank owned and I slowly buy it from them) because I wanted to own. It’s been a net wealth creator, but I think by less than renting and dumping every extra amount that housing cost into S&P 500 would have been.)
The problem with considering the alternative as the S&P 500 is that for lots of people, money leaks out on the way towards the index fund and transforms into new cars and nice vacations and three decades later, they don’t have a paid-off house nor a fully-funded account with which to buy one and have money left over.