Changing Home Prices

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money

M We’re observing gyrations in the housing market that many did not expect.  As a result of new tax laws, property tax deductions are limited on big homes. 

V Result, large homes on the market selling for less than expected.  Small home prices increasing dramatically.  There is now a shortage of 2-3 bedroom homes for that first time buyer or empty nesters wanting to size down. Pause.  Be hesitant to increase what you are willing to pay for that smaller home.  Consider the numbers for renting, maybe not your final destination but wise as prices settle in your state.

M Remember Proverbs 24: 27. Get your work in order, then determine housing.  Resist the temptation to get that home and then hope your income will rise to cover it.