Quote:
Originally Posted by CoachKandSportsguy
Although true, but so has alot of houses, and since you can't go back to those prices, the only relevant point is today's prices for buying and selling.
and the only relevant information would be future home prices for those who have not purchased yet, do they wait for lower prices, has happened, or do they continue with FOMO buying?
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Reality-we do not KNOW. Truth the home we lived in for 40 years before selling and buying in the villages. My parents bought their home which as twice the size as what I bought and paid half as much as I did for it. I put what they paid for their home with a thirty year mortgage as a down payment. I never thought it would go up. I wanted, I needed more space and a better neighborhood. HUH, we sold that place for 6x what we paid for it. Same as the Villages. We bought 9 years ago and this house is up ???
at least 40%. I once again did not expect it to go up. What will the future be? WE DO NOT KNOW.
Financial advice? Few will dare to admit THEY DO NOT KNOW. Housing prices are going up most everywhere. Some own another home elsewhere. If, that is the case it to is going up. Others have money in the stock market. It too has gone up on a historically high basis. Is it a bubble? Is housing a bubble? Reality, may sound stupid
WE DO NOT KNOW.
My mother and sister used to read Ann Landers-her advice column. In the end, if you read her column and it blew up because of her advice she would never admit she was wrong. YOU/WE all need to make the best choices we can for the gain or the loss will be ours not people giving free advice with no skin in the game.