Quote:
Originally Posted by MarkyMark
I don't know, if someone rented for 10 years instead of getting in the game because they felt prices were over inflated, and that 800k house he was going to buy is now worth 500k I wouldn't call them an idiot for it.
No one saw house prices rising this fast the last year, just like no one knows when it'll correct itself. Some will choose to get in the market, others won't. No one is really right or wrong.
|
I've told this story before here, but two different sets of parents of good friends of mine are kinda border line "conspiracy theorists" type people, both of them were convinced that the market was going to crash and crash hard back in 2011. They lived in nice neighborhoods and sold at what they figured was "perfect timing" getting about 630 for 25 year old nicely kept home.
Since they sold they've been renting in a shit area of surrey, paying $2000 or more a month rent, and their house is now worth 1.1 or more.
I'd say they were wrong.