“Sad to say this, but for most of you on this board, prices will have to come down, what, 40%, before you’ll grace the real estate market with your money?”
For some, perhaps, for most, I’m not so sure. There are vocal people here convinced that they’ll pick up stuff for a song “when the big crash comes”. But there are lots of others (me included) who just simply think that it’s wiser to wait than to rush in. I would very much like to buy next year at 30% off (highly unlikely), but I can settle for buying 5 years down the road at roughly the same price as today. In the meantime I rent a house that is no different in size, shape, or form from the one I would buy. So I risk missing out on the potential upside over the next 5 years, right? Well, it’s a calculated risk I’m willing to take.
