I’ll do my best to keep the discussion positive and argument free, but it really isn’t fair how (in terms of point of view) you give two options, the obviously reasonable “bull” who believes in long-term ownership, and the shrill “bear” who is calling for Armageddon. I mean, come on, you’re laying the rhetoric on pretty thick here.
Anyway, the “mild correction” issue is the crux of the argument. Obviously, the central theme in this blog is that the correction is not going to be mild, and you see things otherwise.
Even if the correction is going to be more than mild, you are probably going to be fine if you like your home and location, plan to stay there a long time, and can afford it.
The question is whether you would be just as well off renting. That of course depends on what is important to you.
Beyond that, the real problem is that people are buying homes they can’t afford, and/or buying overpriced homes with the idea that they are going to make money.
