Buy Real Estate Now
Wednesday, November 05, 2008
Source: Forbes
Forbes reports: Peter Slatin, Real Capital Analytics: Any time you are sharp and well-capitalized is a great time to do anything--this is meaningless. So is getting financing. Most buyers are not moving from rentals; what if the person buying your home can't get financing?
What is meaningful is that housing prices vary hugely, as the Radar Logic data show. Virtually all markets are in decline; the Manhattan data are skewed by some very high-end deals, but the severely slowing transaction volume tells the story. There is always value somewhere, and you can always get ripped off right next door.
The real answer is: If you see a home you want to live in and can afford it, then buy it. If you want to make an investment, be aware that value is a relative metric and will continue to fluctuate. Clearly, markets will continue to slide until a generator for the economy kicks in.
View the full article on Forbes: Buy Real Estate Now
Posted by: Nina Turner