Buying real estate NOW is not smart. Buying real estate four years ago was very smart. Getting an ARM NOW is not smart because we are entering a down cycle and it increases your risk because adjustments may force a sale at a loss. Getting an ARM four years ago was neither smart nor stupid. It depended very much on your situation.
Renting is the smart play for 2006 – 2008. Beyond that, it might be smart to buy again.
