AN, if you’re expectation is 100% that the price on the home is going down 20% then yes, waiting is the solution. But that isn’t housing market. In 2005, some zip codes and homes saw 15% gains while others saw 15% losses.
If you look at the housing market and say hmm: maybe it goes down 20%, maybe only down 10%, maybe it stays flat, maybe it actually paces inflation and you get a variety of answers. The only way waiting works is IF it goes down and down significantly. Will interest rates stay flat, with they climb?
How long have we be saying that the market needs to correct? If you’d had done the sell and wait in 2004, you could be in for a long wait still to get back to even.
That’s my point, if you need a place to live that can support a family and want a yard, the move up sale still makes sense if you drive a good deal and can afford the payments. If you don’t assume and assured drop in price, the math points to a wash.
