Bets on a top or forever climb!?

[Joshua Sonico]

I feel stuck looking at the market as a new investor. Not only are we getting outplayed on the mls, but the macro view is daunting. 

If we consider historical trends, a massive correction is way overdue and buying right now is close to the top. On the other hand, we could assume this is a perfect storm for prices to keep climbing and never look back. Looking at the latter, I usually fall back on "this time it's different" as a sign of caution. 

How are you navigating this market? "If the numbers work" is something I often here. If that's you, do you consider current rents and rents prior to the massive growth in your analysis? 

Looking forward to hearing from anyone willing to share their perspective! 

[Jon Kelly]

@Joshua Sonico Looking at macro trends is informative, but it usually doesn't mean a whole lot for local markets. 

Focus on your local market. Focus on investing for cashflow instead of appreciation. Be conservative in your underwriting.