people need a place to live and rents are still high. Rates are low and will remain low for most of our lifetimes. This will continue to fuel the housing market. Sure, it likely wont boom and shoot up stupid amounts like in the past, but prices are very unlikely to drop any significant level. Be picky, buy a good location at a good price and the risk is extremely low. Housing is not something people can put off. It's not like you can live in a cardboard box for 2 years while house prices come down. Rent will eat up your downpayment etc. Would I buy investment properties now? Of course not, not yet until we've seen this play out. But if you're looking for a place to call home I just don't see the downside. Like Realtor1 just showed, things are actually picking up again and the listing storm has stopped. In fact, the huge flood of listings seem to me that they were nothing more than regular spring sellers/upgraders listing early to front run the market. No panic selling at all so far
|