Quote from: odunybiz on Today at 10:56:08 PM

Quote from: bitmover on October 28, 2022, 04:14:00 PM

Quote from: Broly46 on October 28, 2022, 11:18:31 AM

House price is soaring, but finance advisor telling me to debt maxxing on house loan 90% loan and 0~10% dp, and its fine.

This is all wrong here.

House prices are not soaring, it is exactly the opposite. Interest rates are high , less people can afford a loan because it is expensive now. So less people buy houses , less demand = lower price.

Anyone should be careful about making debts now as interest rates are rising all over the world.

House price may be soaring depending on the country.Although almost all country is suffering from inflation but at a very different rate. Here in Nigeria, house price is soaring as all commodity in building a house is highly expensive. Shelter us a very essential thing in humans' life. So I don't believe in less demand when it comes to housing.

during Covid when people were losing their jobs and they were unable to pay for grocery
I am not sure how they managed the house rents at that time - if they were living in a rented space.