Thanks everyone. Yes, all of what posted makes sense.
I can google housing crash and lots of articles about the doom and why. Some well written from respected people. Same for house prices remaining flat. Same for house prices moving up. You can find anything you want depending on what you want to find.
Last time around I didn’t even think about bad loans etc. SO with this latest craze I guess I am looking to dig deeper to see what is really going on and if we are on solid ground with the economy/investors since that seems to be the driver? And then all the info about the fed pumping money in.
The thing I am wary about (but again don’t know) is that if house prices were so investor driven what happens when investors start dumping and leave. Will they dump. Will they hold. Who owns what. Is the market really investor driven? It seems to me the housing market now is treated more like the stock market instead of people just buying homes. So are homes just like the stock market? Big ups and downs. Speculative driven. Then the Fed pushed all cheap money in. That is said to be unprecedented. What is that going to mean?
In the end just as people have said I guess we don’t now till something happens or it doesn’t. Some bullish, some bearish, some in between. But was curious about the “indicators” of what potentially could happen. You know where you just say to yourself how did I not see that coming.
And yes I just moved here. Want to buy a house. I won’t lose money because I will have a long hold. The homes I want are 20% more than I can afford (well revise that to I could get it but I would be uncomfortable if I had any job issues) But could be somewhat happy with buying something 20% less and it would be less than rent. But then what if I wait two years and buy that house for 20% less and get what I want. But then what if I live in a rental and pay more than owning and things just plug along and am not happy renting. Or what if things keep going up (the herd mentality that is also scary buy now but it gets to me like everyone)
