Housing is incredibly hot right now. The boom is a mix of city folks fleeing to the burbs in light of covid and civil unrest. Also the school systems. The city schools are often underfunded and lack the needs to help the students excel. The other part is the low rates. Lowest in history for lending. People are getting qualified left and right. Good credit, halfway decent down payment and passable work history and youre in there. Another factor is cash surplus and stimulus. People have been sitting on cash and saving and havent done anything with it. Home builders have done interviews indicating the hike in price of materials and how its beginning to affect their bottom line. Lumber is at an all time high. Supplies are thinning out. Labor is stretched thin. Home builders like Olthof, Poulte and others have been securing lots and selling them the same day they get zoned. They raise the price and people still pay.
Couple things to look at here.
1) if you have a mortgage and your rate is above 3%, go for a refinance. Get your rate lower. Get your monthly lower.
2) you may want to do a "cash out" refinance. If you owe 20k on your house, refinance for $50k and go buy yourself a new car. Or do some home improvements. Or buy that McMillan 50cal . Pay off other debts you may have. You get the picture right..
3) If you've thought about selling, make the move. Plan ahead and secure youre new place. Like others in this thread have said, people are overpaying for houses right now. Just like with stock trading. Don't hesitate on your execution, you might miss your moment.
Why would you increase the length of time you're indebted and add to the risk of losing your home to buy a car. I mean, I can understand the .50 cal, but I'd go with the Barrett.
Seriously, borrow less money or better yet, no money. You'll get to keep what you're giving away to the bank and might actually own something when your through.
Like timing the stock market, you might get lucky, and you might get screwed. Get more for your house than it's worth and not be able to find another for the same money.