This is also a question on short term vs long term investments. It’s true that hose prices were/are generally too high and as a result the market is readjusting. This is not a new phenomenon unique to our generation. Homeowners will just have to wade through this while the market self corrects.
You have to realize that a down payment and closing cost is the cost of investment in this case (the old adage that it costs money to make money). Over the coarse of time there will be bubbles and bursts in the home market just as there is are bullish are bear times in the stock market. Case in point, here in the Seattle area 10 years ago the market had plateaued. Years following up till now the market was making 10-13% gains in value. Though this shows a the time when the housing market was ballooning, historically home investment as always made money in the long run.
My point is that home ownership can be a valuable part of your diverse investment portfolio. Short term investments are always a higher risk, longterm investments ignore the peak and valleys representing trends.
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