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

To: TheStockFairy who wrote (358)	8/28/2001 1:42:22 PM
From: David R	Respond to of 306849

There is a good time to buy a house and a bad time. I bought when I got married. It was out of necessity as rental units were at an all-time low, and rents were very high. The cheapest option for my wife and I was to buy. At the time, housing had been in a six year slump, and we bought a house that had been on the market for 6 months. Who would have known that the lack of rentals was the start of a run-up in housing. I sold the house 1.5 years later for 50% more than I paid, TAX FREE! I am now sitting on 50% equity in my new house, able to weather a severe real estate down turn. The housing market is cyclical and in a few years, it will once again be cheaper to own than rent. I suggest that you have a good down payment ready. Just remember that housing gains are tax free, and buying real estate at the right time can be a tremendous investment opportunity.