Updated almost 6 years ago on . Most recent reply
Timing the Housing Market
Hello BP Friends. My wife and I are ready to buy a rental. We can only afford one in a expensive area so we need to make the next purchase count. Stocks are down and unemployment is up. We feel that home prices will be going down. I have heard to not try to Time the Market, however like most people we would like to buy when the market is low. Different markets will of course will have different demand. My question is "When are you planning to buy and why?
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On the Bigger Pocket Podcast I heard the phrase "Trying to time the market is like trying to catch a falling knife". I thought that was perfectly worded. I invest in San Antonio as well and I'm not slowing down. I will say that I have tightened up my criteria though. I'm only looking at deals that I think are at least 60%. This is pushing me to look at other types of deals as well, including mobile homes.
- Collin Corrington