Housing is one of the great investments right now. Today’s market presents wonderful opportunities for many. Interest rates continue to remain at historic lows. Housing prices also continue to remain at very affordable levels.
Indeed, legendary investor Warren Buffett recently stated that if he had a way to manage them he would buy several hundred thousand single-family homes and rent them out. Consequently, there are many investors that are buying homes in today’s market as an investment and subsequently renting them.
But for the many that wish to purchase a home and actually live in it, the question becomes is today’s market the perfect time to buy.
There is certainly the valid argument that those individuals could wait to see if home prices continue to fall. Indeed, many experts suggest that home prices will continue to decline through at least this calendar year, and possibly in next year as well.
However, you cannot time the housing market anymore than you can time the stock market. True, the housing market moves far more slowly, but that works to its benefits, as prices don’t rise and fall on daily news or even major events.
Another factor to consider are thehistorically low interest rates. By all accounts, interest rates should remain pretty consistent through at least the end of the year, and possibly into the early part of next year.
Therefore, the combination of low prices coupled with historically low interest rates makes it a very attractive time to be a home purchaser for both investors and as someone who is looking to buy a home for his family.
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