YES, you were “lucky” along with millions of others, but most people don’t see it as luck, but now an entitlement to easy street.
Just because there have been 9 cycles, doesn’t guarantee that there will be a 10th.
The psychology of people thinking that it has to happen can actually make it happen, but if that same psychology turns, it won’t happen. If psychology turns in the stock market, watch out below.
Houses are cheaper than they were 2 and 3 years ago. Mortgage rates are lower than they were 2 and 3 years ago,
actual payments are less than they were 2 and 3 years ago, SO where are the buyers ??
It’s a bargain now compared to 2 and 3 years ago, but the psychology has changed 180 degrees, and people who are smart are concerned, and those that aren’t concerned don’t understand what is happening.
Where are all the genius “investors” who went to seminars and bought books and tapes on RE investing ?
Since prices are cheaper now, the market should be booming, but it’s not.
The party is over, but some people are just arriving, thinking that they aren’t too late and there is more fun to come.
The band has packed up, the liquor bottles are empty, there is trash all over the place. There’s a mess that needs to be cleaned up.
Anybody who buys a house today is helping to clean up that mess and saving somebody else the trouble.
