4 ms·
Around the time of the dotcom crash in 2001, my dad was thinking about buying a house, but he was insistent that housing was a bubble and wanted to wait for the
by idrios 4y ago
Around the time of the dotcom crash in 2001, my dad was thinking about buying a house, but he was insistent that housing was a bubble and wanted to wait for the bubble to burst before buying.
He was right about it being a bubble, but it still didn't crash for 7 years. It's all unpredictable but bubbles can last for way longer than you expect them to. Or they can burst at any minute.
- cudgy 4y agoCPI adjusted prices were lower in 2011 than they were in 2001, so your dad was probably onto something. The question is would rent have been cheaper or more expensive than home ownership over the time span in the area he would have bought a house. In many hot markets like California, renting was a better move during that time as rents were very cheap relative to the cost of the inflated housing prices during that time.