We like collapsed sewer pipes, mitigated termite damage, sinking foundations and the like.

  :)I feel that unless there was a collapse that I could get backing if I needed it. 

@Daniel 50k in remediation expenses on a deal worth 1.4 million seems like a pretty minute hiccup on that deal I can't imagine the profit margin on that deal would be slim enough to collapse a deal over 50k... but I understand what your saying for sure and is a very valuable point. 

The changes in underwriting criteria has made it much more difficult to buy a house and the people who buy a house to live in are lower in number, but can actually afford the homes that they buy.While it might be true that we are near a top and might have a correction on the horizon, it's unrealistic to say the correction will resemble anything close to a collapse.  

This happened in 2008 during the brink of collapse.

If he's robbing Peter to pay Paul then you could be the guy that gets left out in the cold if something happens to his business....or if he decides to make his boat payment instead of buying your drywall......I actually saw some of that kind of thing when the market collapsed in 2008.The other major problem that paying deposits creates is that it eliminates the driving motivation for the contractor to get your job done quickly or on budget.

Is it safe to purchase at this time, or do you all see another bubble leading into a collapse? 

The last real estate bubble collapsed in part from issues between Realtors.Lenders and Title companies. 

On one hand I feel like real estate is the only way to truly build wealth for the normal guy, but on the other hand I’m paranoid about a market collapse and timing when to buy…  

Prices are through the roof and I expect them to go up more when the city fully reopens from the lockdown.I would advise anyone to buy now because prices aren’t going to go down unless there is a massive economic collapse.