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I am 99% sure ska is saying that "lots of people would have suggested to buy a house in 2009." I was not in a position to buy then, but IIRC the market had plu
by lilactown 6y ago
I am 99% sure ska is saying that "lots of people would have suggested to buy a house in 2009."
I was not in a position to buy then, but IIRC the market had plummeted the previous year and was at an all-time low; if you were in a position to buy, it was a great time to do it.
- ska 6y agoExactly. So Kranar's scenario I think boils down to "although conventional financial planning says it's a great time to buy a house, I thought through my own situation before doing it". I can't argue with the logic but not sure what it contributes to the OP point.
- duderific 6y agoI have to disagree a bit here. I remember at that time, 2009, nobody knew whether the market had bottomed out or not. There was still extreme nervousness with regards to asset prices. Prices actually bottomed out in around 2012, which is when my wife and I bought our first house. We didn't do it because we knew it was going to be the bottom; it just so happened to be when we had saved up some money and found a place we liked. Point being, I think the OP is correct; most people in 2009 were saying not to buy, from an investment perspective, because it was thought that prices were likely to keep dropping.