Don't believe anything I said can be placed in the "hype" category....supply vs. demand is a function of the market, not what you or I believe.
Real estate is a local market, always. Price trends, supply vs. demand,demographics, employment and salary levels....all will vary from place to place, always, and will affect local real estate markets differently.
Meanwhile, it is definitely not hype to point out that Uncle Sam subsidizes as much as a quarter to one-third of anyone's mortgage payment, and locally imposed property taxes are deductible as well..... which makes real estate an excellent tax shelter and cheaper than rent in many cases.
It is not hype to point out that real estate is the only commodity that a person can use, abuse and actually turn around and sell for more than he paid.
It is not hype to acknowledge that renting is better for some people under certain circumstances. Real estate has never been a very good short-term investment, so don't plan to hold it short-term.
But if you are sitting back "waiting for the market to cooperate" with your desire to buy a home for less money, and if you are expecting your local real estate market to "crash" like some did in the early 1990s.....well, this might just not happen, so be sure to have a Plan B in place----- and you might want to strongly consider how wealthy your landlord is getting while you wait for your hypothetical real estate crash.
Enuff said on this topic....by me, anyway. Good luck to all. |
