Thanks for the answer, Ray. I hear what you’re saying about the long term, but keep in mind that a lot of folks don’t hold on for 20 year, especially first time buyers. Frankly, it’s a lot easier to hold on to a stock for 20 years than it is to hold on to a home (stock certificates being just a bit more mobile).
Also, I don’t see cautioning people about the risks of buying at the present time as a display of bitterness. I know I come off as strong as anyone with my “don’t buy now” sentiment, but I am anything but bitter. Rather, I don’t want to see good people get stuck with a home they *have* to hold on to just to break even some number of years down the road.
