Would you rather buy a house in a bad housing economy or sell a house in a good housing economy?
Would you rather buy a house in a bad housing economy (Circa 2009.. numerous foreclosures and a surplus of inventory) or sell a house in a good housing economy (Right now.. few foreclosures and tight inventory)?
- SlumlordLv 72 months agoFavorite Answer
Even Warren Buffett and Peter Lynch freely admit to not being able to time the market (with regards to stocks but the same applies to real estate) so my advice is that you shouldn't try either. Buy a house when you need to, sell a house when you need to, and don't beat yourself up because you would've gained a bit more if you'd only waited.
- D.E.B.S.Lv 72 months ago
Buying and selling is never a single event. You can't pretend they are. There are many scenarios and situations to take into account.
Is the purchase a first time buyer or second home as opposed to upgrading (already own and would be selling your existing property fro the new purchase)? Likewise, what are your options when you sell? Do you still have a place to live? Do you plan on renting?
- A HunchLv 72 months ago
Will you stop asking questions that don't have a specific answer.
For some people it might be a good idea to take a loss.