Austin Real Estate

[hanera]

@caiguycaiguy

image828×794 43.5 KB

So is not just in Austin.

3 days ago…

@hanera

In Austin, I run some numbers. At 5.3% mortgage rate 20% down 30yr fixed, PITI is 50% more than rent, no reason to buy at all. At 6%, reason for buying is even lower. At such high mortgage rate, make sense to buy only if prices drop drastically (40% drop from ATH) or rent increase dramatically (50% increase from current market rent).