Quote:
Originally Posted by Winsor_Pilates
You say it's funny because you're convinced our opinions are due to personal financial bias; but what if we actually feel that way?
If I actually thought there was a burst coming, I would tell all of my clients/friends/family/myself to sell their homes now and buy back in after. Not only would I get a ton of sales commission now, but I'd get a ton of buyers after the crash, everyone would love me when they avoided the crash, and I'd have guaranteed repeat business & referrals for years to come.
If my intentions were completely selfish and motivated by commission, that's the tune I'd be singing.
|
I'm convinced that those within the industry have a financial bias for the most part. Whenever I read a discussion like this or get into one, those who have recently bought, and those in the industry 9 times out of 10 try to convince that prices will never go down.
Doesn't necessarily mean you are biased, but that's often the case.
I'm involved in the real estate industry in a sense, the reason I think prices will decline is because the prices and the math don't add up. I'm waiting to buy, I CAN buy now, but I am choosing to wait until it makes more sense to me.
I have no financial bias because my position doesn't depend on a strong market, and I don't receive commission. I'm basing my opinion on the numbers and things I've read and seen.
That said I think this has been a pretty good discussion. People get very very emotional about real estate because so much of their worth is tied up in it. I'm surprised this has stayed so civil.
I've had discussions with people in my personal life that purchased during the peak, I told them my opinion and they instantly get very personal.
At the end of the day, if you can afford your property, and it's not completely breaking your bank, don't worry about it. If you are buying for profit etc, do your research.