Timing buying a house!??!...Well, enjoy your $2000/mo rent
First, Lest anyone think I'm a real estate bull, please read my following post:
Subject 51183
That said, This thread is an academic excercise, at best.
Yes, anyone can see housing seems like an overleveraged bubble. But houses are not like stocks. What are you going to do? Live in a cardboard box until the big crash? Delay having a family?
You will blow $25,000 a year in rent, waiting for the "big crash" that may not even happen. After 5 years, you've pissed away $125,000 in cash,,,,and your not even guaranteed that prices will drop. Buying a house at the peak may not even drop that much.
Sure, buying high can be risky, IF prices drop..
But renting is a GUARANTEED 100% loss.
Trust me: The more you try to time it, the more you think about it, the more you analyse and justify it, the more likely you are to bungle the whole thing, and hate buy the top. Either that, or you will never buy, and wait for the infinite bottom..."Wait, just another $10k lower" |
