The thing that concerns me is I’ve noticed a lot of people thinking that once the market “crashes”, they’re going to go in a buy up a bunch of properties and make a ton of money. What if the market drops significantly and stays down there for a long time. I believe this is very feasible. We have just experienced one of the biggest real estate booms in history, it might take a very very long time for prices to come back to these levels. So people go in and buy properties with rates that will probably be a bit on the high side in a very depressed market that could be going sideways for a long time.
My best advice is to not follow herd mentality. Be very careful!
