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Originally Posted by cyrnel
No doubt. It remains the most important material investment (jumpinjesus - hint  ). Still, buying near the edge of a market swing can sure force lifestyle changes. I feel for the first-time buyers who let themselves be swept into buying at their absolute limits only to find themselves in a precarious position. Market-wide this only serves to depress prices and prolong the recovery. |
I agree. Also real estate markets are local. Looking at national numbers is almost a waste of time. If a person lives in Edgar Springs, Mo. market conditions in San Jose, CA will have nothing to do with what is happening in Edgar Springs. And both of those markets may be vastly different than the national numbers. I would bet a higher percent of people in San Jose are on the edge than in Edgar Springs, and because of that San Jose is going to be more volatile and much more prone to a bigger corrections.