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obert, you mention home prices in your area are “insane”. How would it feel if you decide to pay an insane price?
Pay off the car loan and rent a dwelling for as long as it takes for your economic condition to change. This could mean asset prices fall, or it could mean your income increases significantly.
In 25 years of home ownership across 3 houses and 2 widely separated geographic regions, I estimate home ownership to be a breakeven proposition vs renting. I have bought the homes in the past as primary dwellings, in desirable school districts (higher property tax than surrounding areas) and have lived there for as long as life conditions warranted me to do so.
Have a look at online cash accounts such as from FNBO. I just learned about these and will probably park some cash there.
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