Re: If you can afford to buy a house/condo should you do it to avoid r
Markets are so local in real estate its absurd. Zoning regulations, city improvements etc etc etc matter infinitely more than any national news, swongs etc. I don't know if I can be more clear about this. You need to do the numbers for your own market, the specific properties you're looking at and the utility each option has for you (perhaps renting despite losing a shade of money means a nicer location, less stress etc etc).
Some markets have been almost completely flat with normal 1-3% appreciation over the last decade, while other places have boomed. Frequently these places are within 50 miles of each other.
jono,
Actually I'd say the national trends are more indicative of the smallest portions of the housing markets. The coastal areas and a few metros. Most of America isn't in these markets. And even within those markets I'm sure there are pockets that defy national trends. National trends are created from the summation of local markets, not vice versa.
|