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It seems like there are no good deals?

I'm a buy and hold investor, looking to purchase my next primary residence and turn my current into a rental. The problem is, nothing seems like a deal.

During and pre-covid, prices and interest rates were both lower, while rents were not that different from today. It was possible to find a property in a decent area that would cashflow immediately, or you expect to cashflow relatively soon.

Now, everything that I look at in places that I actually want to live would mean carrying a mortgage significantly more expensive than renting. It would only break even if prices went up significantly more than they are now, or interest rates dropped enough for a large refi. I think both of those outcomes are unlikely.

It seems like the market is softening a little bit, but the gulf between what sellers are willing to sell for and what I am willing to pay is still too large. Not posting this as a rant. I want to get honest feedback on if it makes sense to sit on the sidelines for a few more years or if buying is the right move for reasons I may have missed. Is it just me, or are there no good deals right now?

submitted by /u/Ok-Cartographer-5544
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1xf55da/it_seems_like_there_are_no_good_deals/
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