Quote:
Originally posted by SoCal911SC
Again, it depends on where you are in the cycle.
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That's why I added the disclaimer "within reason."
It's not my fault some people must live in CA and pay extravagent prices for real estate. For the long-term, real estate shows great potential to appreciate. Sure, you could buy a nice home in 1974 and see it turn into a slum 15 years later, but then I would argue you weren't paying attention. You'll always have exceptions, but in general, I stand by my comment. Of course, I'm the type who buys distressed properties, and after careful rehab work creates instant equity. By default, I'm always buying at low tide, protecting my bottom line.
I would never advocate buying a house in a particularly irrational marketplace, but if everyone was like me, I would have no foreclosures to buy.
