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Housing Prices and Costs Surge
- Home prices have surged about 33% since 2020, creating significant market inflation.
- Concurrent rising mortgage interest rates have nearly doubled the actual cost of buying a home.
Brian's Housing Market Rollercoaster
- Brian Preston bought a house in early 2000s that gained value rapidly before plummeting after the Great Recession.
- His experience shows how home prices can halve within years and the importance of financial preparedness.
Plan to Stay at Least 5 Years
- Buy a primary residence only if you plan to stay at least five years to ride out market volatility.
- Consider that selling too soon can expose you to transaction costs and market timing risks.