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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jason W who wrote (239)	8/17/2001 8:48:29 AM
From: Mark Ivan	Read Replies (1) \| Respond to of 306849

Jason, I agree with most all you say. As far as what type a bottom we are in; very near a stock market bottom, also near an economic bottom, but real estate may crack a bit. You are right, housing usually lags the market by a year. So, maybe we are not at a bottom there. I do not think we had the last "hurrah" in refinancing. The rates will give in and I think we will see some new lows on long term 30 yr rates. This should spur more refinacing. As far as waiting to buy a house, well you may get a better price. But if you are gonna live there for 10 yrs, does it really matter??? If you but RE for investment, then maybe you should wait. But most people buy home to live in, make a family, and enjoy them. If they sell it in 10 yrs for what they bought it, so be it. If you are sitting in an apartment waiting for RE to come down to reasonable levels, you are pi$$ing rent money away, losing tax advantages, and mabye not enjoying life as much as you could as a home owner. All these things are costs that will nullify any price advantage you may get by waiting. Mark