Real Estate prices always have been cyclical. But have also always been on an upward slope. This peak is higher then the last peak and the next drop will not be as low as the last drop. The down side of buying in a peak is very limited selection. That will change when we get past this peak and prices stabilize. Selection will be much better but I doubt prices will be much lower. So if you can find what you want in this crazy market, buy it. I would not settle for something just to buy now. Availability will improve a lot over time, prices not so much. So if you can’t find pretty close to what you want, rent and wait it out.
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Life is to short to drink cheap wine.
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