News Story

I was watching the local news (Darcy had control of the remote, and doesn't watch baseball when she has the remote) otherwise I would have been watching the Indians and the Red Sox.   There was a story citing a national poll saying that 60+% of potential home buyers are saying that they will wait at least 2 years to buy and 25% of homeowners fear that their home prices will drop over the next 2 years. 

How dumb is that?  Let's wait until the market starts to pick up and home prices rise to buy.  Why should we buy a home at a bargain price, when we can wait until the price comes back to where we think that they should be?  I wonder if these same 25% would wait until Memorial Day to buy gas.  I mean the price will certainly be higher then, right?  What kind of logic is behind this?  This is why consumers need to stop listening to the media and begin listening to people that actually know something.  What ever happened to the mantra, "BUY LOW, SELL HIGH"?

Even the Donald is telling people that it now time to buy.  Come on people think about it!  Even if you buy and your house depreciates a little over the next 18 months, even the media believe that prices will begin to rise within 2 years.  Why not get the house that you want now, save some money and ride out the market. 

The other factor that the media doesn't bring up is that markets are local.  Just because prices are still falling in some markets, it doesn't mean that they aren't stable or appreciating in other areas.  I only wish that the media would state some of the actual facts and factors in the housing market.  Anyway, thanks for allowing me the opportunity to vent.  Have a great week!