[bearhall]

if prices go down you can’t just refinance and pay less. refinancing requires paying out the old mortgage. so that doesn’t check out if prices are down.

if interest rates go down you can refinance.

it’s not a zero risk purchase. the price going down means you’ve lost value but your loan value stays the same.

[willio58]

Thanks for clarifying. Of course you can just wait for the market to pick up again (assuming you're not living in an area where prices will continue to fall for years) but that's some good info.