History has a nasty habit of repeating itself. The chances that the market will correct outwiegh the chances that it will not.
The consequences that zk outlined in the event the market does not depreciate are certainly true. However zk’s points also ignore the benefits of having sold.
I now have a significant amount of cash that is earning me money. Instead of this money sitting in my house, it is working for me, increasing my net worth.
We are saving hundreds a month in gas as my husband’s commute has been cut by 95% (This may not benefit some as they may want to stay in their neighborhood).
Most people who choose to rent can rent a house that is equal to or better than the one they sold for LESS money. This is more money in your pocket.
Renters do not have to pay for upkeep. This can translate into thousands.
So, if prices stay flat, it may not benefit me significantly to have sold (adding in added expenses like seller’s fees etc, and subtracting money gained like earnings etc).
But if prices go down…. HOMERUN!!!
If a person isn’t living in their dream home, they have the chance to get it when this all over… if they sell now.
Powayseller is showing her compassion for those poor souls who may be about to find their finances slaughtered.
