Is home depriciation a bad thing?
When home prices go down we get richer. Think about it. The market is correcting itself. For years our salaries have not increased at the same pace real estate appreciated. Now that many markets across the U.S. are experiencing home values dropping this means that our salaries are catching up. We are getting richer. We can afford more home for our dollar.
So now that we can buy more for our money is it a good time to buy? There are 2 "IF's". If #1. If you need to sell it's all relative. You sell for less but you also buy more for less. if #2 if you are renting, it's always a good time to buy. It's always better to pay yourself than someone else. You gain nothing by renting.
Buyers Market??
Buyers market means it's a buyer's market. Most of the country is in a buyers market. So why are people holding off on buying? This is a very good Q. I guess people are afraid we haven't bottomed out. Well, that is completely possible. These shifts in the market usually only last 2-4 years and history has shown us that on average real estate doubles in value every 10 years. So this is our opportunity to jump on great deals.
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