There are some dangers that come into play when buying a house right now. Many people tell me that there is no housing bubble. They say that since housing values have always gone up, they will always go up. I just can’t buy into that theory. Also, it’s not correct to say that housing values have always gone up. On a national level they have, but when you own a house, you don’t own it on a national level. You own it in its immediate community. There are fewer chances of variables evening out.
Don’t forget what happened to tech stocks. No one thought they were going to go down; after all, they never really had before.
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12:17 am (reply)
Well, of course. Buying a house is an investment, and a lot of people don’t look at it that way. But unless you plan on living in a house for the rest of your life, you have to consider your house the same way you’d consider any other investment. You have to think about whether or not the value of it will increase, and what you can do to help that value increase. And sometimes, like in any other investment, you lose.