“The long term view on housing is equally strange to me. In the long term even though your 150K house is worth helluva lot more now, it still doesn’t change the fact that you paid helluva lot more than what you could have. Since housing moves in cycles, all that matters is when you enter (buy first home) and exit the market.”
I think the point DaCounselor is trying to make is that yes one can enter at arguably a bad point in the market, but that if one hangs on, in the long term real estate mistakes tend to work out. Time is your ally in the real estate realm. There are many homebuyers who buy based on their circumstances, which is arguably more important to them than market timing.
