Quote:
Originally Posted by Winsor_Pilates
Do you believe everything that you write?
How are buyers underwater in 1 month? Did they all buy last month, and are selling only 1 month later? Aren't they allowed to live in the home and hold off selling for months, years, decades?
What if by October, they're back up to where values were last month? What if they don't sell their home until 2035?
All of your arguments are based on the pretense that everyone bought at the highest price, and sells at the lowest. No investment in the world can make sense looking at it like that.
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If you sell high, your next place is high. If you sell low, your next place is low. Net sum game technically assuming you need a place to live. Add in real estate costs, up-keep, property taxes, compound interest over amortization etc. and it's a negative game.
That's why I cringe when people say that buying a home is a great investment. It's a necessity and an investment in your lifestyle but financially there are much better investments.