In the current market it is not a surprise to find people being scarde of the property market.
But I wonder how many people know that real estate doubles in value every 10 years. Does not matter in what market you buy it, it doubles every 10 years.
If you buy property now, you are building your wealth for the future, so don’t be afraid, find a way. If most of us got rid of our credit cards and short term debt,we’d be able to buy real estate and build wealth, but people are trapped by the “I want that lifestyle know” mentality. What will you do when you can’t affordthat lifestyle, or property anymore?
So I will stick to my guns and say: buy real estate now, it’s cheap, and it WILL make you rich, if you do your research.
Imagine you bought property when the interest rate was 25%, you’d be laughing at the current market because you would have had spectacular returns on your investment. So don’t make the same mistake twice, get into real estate and the next time the market is down, you will be the one smiling.
I agree, buy property now, before everyone gets on the bandwagon. As soon as i-rates come down, people will wake-up. Yes property doubles on average every 7-10 years, but you can do even better when you buy from a motivated buyer for 15-30% below market value. They are available everywhere in todays market. Buy them all, I say!