Invest now, or wait for the correction?

[Kenny Hsu]

If you had the capital, would you wait for the correction or still invest now?

I understand local markets will drive the ultimate decision, but it feels like every market I look:

1) unemployment is through the roof in the last 4 months

2) mortgage delinquency is on the rise

3) rents are flat - but there have been many stories about landlords not being able to collect rent

4) housing values have not dropped yet and cap rates are still at all time highs.

I remember hearing about folks that made at killing buying during 09-11. I wonder if I shld just wait.

Thoughts?

[Russell Brazil]

Supply and demand.  Prices dropped in the last recession because of the highest supply the country has ever seen, combined with low demand.  We currently have the lowest supply the country has ever seen coupled with high demand. The people that are unemployed, while that number is high, just arnt the people that are buying houses. They are service sector workers. In the last recession, the unemployed were white collar workers, at least in much more significant numbers than today.

nearly every house Ive sold this year, is.about $50k more than you could have bought the same house for a year ago.