No matter what happens, you’ll always need a place to live — the real question is can you buy a house you can afford? If so, then maybe it IS time to buy a house. After all, mortgage rates and house prices are both lower than they have been in years, plus there’s more inventory. This all translates to an optimal buyer’s market. You as the buyer have the control and plenty of homes to choose from.
But what about the much-hyped threat of bank failures? Bank failures, which are very rare, wouldn’t affect your mortgage much. (If the bank that held your mortgage failed, never fear; some other bank would take over the loan and happily accept your payments. Banks love to take your payments!) And the FDIC guarantees the money in your checking and savings accounts in the event that your regular bank should run into trouble. Chances are, it won’t.
