Quote:
Originally Posted by Wookie
Oh I know, it would be nice to say come June, "look, everything is fine" to the people who seem intent on implying that buying is stupid, a crash will come, etc. But as we've seen, 6 months is hardly a big time frame to look at things. The inventory, people's motives for selling, the large amount of multi-family coming on, could all take a few years to play out.
That said, I bought my place in August and would love to see things shoot way up! I don't think it'll happen though. But I bought my place for what I think was a good deal, and still think I could fetch that in today's market. So a minor fluctuation I'm not too worried about.
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Just because the market will be fine 5 years down the road doesn't mean that the purchase in 2006/7 was a wise one. As you can see it today you'd be better off buying a house this week and you will probably get a better deal in the summer. And the difference isn't just a few thousands, it could be 50 or more K which is no spare change.