"Conventional wisdom says home prices continue to rise as long as the local economy is robust, as Puget Sound's is now. Moreover, recent history has shown that while the rate of appreciation may decline, actual across-the-board price drops aren't common...
... So perhaps the best way to approach this situation is to focus less on the market and more on your own needs.
If you view housing primarily as an investment, if you plan to own for just a couple of years, then your money may be better off invested elsewhere. Even in the best of times, sellers commonly don't break even if they own for less than two years because it costs money to sell a house.
However if having a home to call your own is your goal and you can see yourself living there long-term, then buying now makes sense. No one can tell if we've reached the bottom of the market, but some things can be said. With an abundance of homes for sale, buyers are in the driver's seat.
And if you own for at least five years, chances are good your home will appreciate enough that it won't matter whether you buy at "the bottom" or pay a few thousand more."
No comments:
Post a Comment