3 ms·

I think you should always be wary of statement like: It's a great time to buy if you have the cash! It's the kind of thing a real estate agent says. Not that

I think you should always be wary of statement like: It's a great time to buy if you have the cash! It's the kind of thing a real estate agent says. Not that I think the original poster is one. The truth is that owning real estate, like owning most things and investments in particular is very situational. People make the decision too much based on what people around them are doing. It's much better-- good market or bad-- to be thinking things like: is this a good price? how long will I want this property? how much financial risk am I taking. etc. If that is your framework you don't really need to worry about the "good time / bad time" news cycle.

A4ET8a8uTh0 3y ago
This. We really should be basing our decisions on whether it is good for us. We bought our house precisely because our landlord was getting silly with raising rent for what is currently the size of my garage ( with mortgage ending up being directly cheaper than rent in terms of direct cost ). From that perspective, the move simply made sense. Good time to buy a house is basically when you are ready to deal with it. Good time. Bad time. If you are ready, you are ready. ( Yes, I know it is much harder now, but that is a separate conversation. ) edit: I just had this weird flashback to pre-2008 where a guy was trying to sell me condo after I just came to US. He knew I could not possibly afford $160k for a condo, but it did not matter. There was just soo much money floating in real estate and so many people speculating, I probably could have had a condo now that I purchased with zero chance ( at the time ) to pay it off. Wild times. We are obviously not revisiting that scenario now.