Quote:
Originally Posted by hulkrogan
So for the real estate bears out there, what are the odds in your opinions of house prices holding for another year? I've got a rental I want to dump, but the mortgage is up in September of 2012 and I'd like to make it until then before I get rid of it. I'm wondering if I'll forever hate myself by waiting. Obviously, if anyone actually knew the answer to this, they'd be rich, but I'd still like to see what people are thinking these days.
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From the sounds of it you seem to have doubts about prices holding up long term and are looking for reasons why a decline might be delayed. If I were you and were satisfied with the paper gains on your property as it stands today I would sell and redeploy those funds away from Real Estate (EDIT: Corrected, If all you do is buy a new property), then you're just as exposed to a potential RE slide as before the sale). A good way to emotionally justify whether it's time to sell would be to think of yourself on the buying end of your property. Would you re-buy your property again at the price you're looking to sell it for? If not then it might suggest a value differential between the market and intrinsic value and thus 'Greater Fool' theory applies and you should get out while you can.