As the summer ends and election approaches, the market has predictably slowed. Interest rates continue to tick down, as of the writing of this a 30-year fixed mortgage hovers around 6% (down from 6.5% last month). As most of you know, rates were predicted to drop even further once the Federal Reserve announced a 3rd or 4th quarter rate cut, but a borderline comically downgraded jobs report and inflation still hovering 50% higher than “optimal” will likely force the Fed to keep rates where they are.
It’s worth reiterating here unless we have a serious recession (in which case all bets are off), the next few months are going to be as good a time to buy as there’s been since the 2010s. Interest rates are tolerable, inventory is the highest it’s been since late 2019, and it would appear the bubble we found ourselves in a couple of years ago has subsided. People are still experiencing sticker shock, but sellers are more willing to negotiate. Again, if we hit a massive recession forget I said anything.
My phone decided to die the other day; apparently the Samsung S22 Ultra is notorious for antenna and motherboard issues. The experience has reminded me of the archaic, simple lives we lived way back in the 20th century. While the little supercomputers we keep in our pockets help us navigate the intricacies of modern life, it’s nauseating how dependent we are on them. After spending over an hour on the phone with AT&T, Samsung & local phone repair stores, I drove GPS-less (my car’s map hasn’t updated since 2014) up to Stonebriar and wandered helplessly until through the Grace of God I found the Samsung center. Throughout the experience I wondered if I need to keep a Mapsco (if they still exist) just in case, or a cheap, old phone I can just keep around in case something like this happens.
As my 51st birthday approaches, I find it hard to believe it’s already been a year. This year is a bit more somber as Kacie is experiencing some health challenges. We’ll fight through them and will be better on the other side, but if you’re the praying type I would really appreciate you adding her to yours. When we’re young we don’t realize just how fragile life is, and I’ve reached the point in life where my heroes and role models are starting to pass on. Getting old isn’t for the faint of heart.