Home prices in San Diego are high, but that doesn’t mean we’re in the middle of a bubble that’s about to burst – it’s more complicated than that.
Rich Toscano, a financial adviser and housing market analyst, joined hosts Scott Lewis and Andrew Keatts to explain. He broke down the strangeness that’s happening in San Diego’s housing market right now.
“The especially interesting twist this time around is the interest rates are very low,” Toscano said, “rendering monthly payments actually pretty reasonable.”
Toscano dug into the historically tenuous relationship between interest rates and mortgage rates and answered everyone’s burning question when it comes to the housing market: Is it a good time to buy?
Spoiler alert: There’s no easy answer, but Toscano does get down to brass tacks. While prices are indeed a bit higher than they should be, it’s not absolutely nuts to buy a house right now.
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