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COCORAN PREDICTS PRICES WILL GO "THROUGH THE ROOF"

Famed New York City real estate investor and Shark Tank host Barbara Cocoran said in April 2024, that if interest rates drop just 1% by the end of the year, prices are “going to go through the roof” and “I would not be surprised that real estate will go up 8-10% if interest rates drop another point.”  Corcoran predicts you “will lose” if you wait on an interest rate drop.
Source for Cocoran's comment: https://www.youtube.com/watch?v=YtMAn6jtvjM
You may want to consider that, while you may get a lower mortgage rate, you may end of having a similar, or higher, monthly payment if you have to pay more for the same house. Should Cocoran's prediction comes true, and you buy now, your house will have more equity from a potential value jump. Should that happen, you could always refinance at a lower rate if rates drop significantly.

SHOULD I BUY NOW OR WAIT FOR INTEREST RATES TO DROP?
Buying now advantages:
Start building equity immediately
Potentially less competition for houses on the market
If house values increase, you have extra equity in the house
If rates drop considerably, you can refinance to get lower payment

Waiting for rates to drop advantages:
Lower mortgage rate = lower house payment or shorter term loan

Waiting for rates to drop potential disadvantages:
Increased buyer pool may drive up prices
Higher home prices will increase house payment
More competition for the house of your choice