The future of the real estate market is the past: it is CYCLICAL. As with many other markets---commodities, stocks and bonds, comic books and baseball cards---prices, values and activity go UP and they go DOWN.
If you seek to buy a home to live in and to reap the intangible benefits of homeownership, then the LAST thing you should be thinking is about market peaks and valleys. Create your "dream list" of location and features you want in a home. Get prequalified for mortgage financing so you know your limits in terms of the monthly payment for a mortgage loan. Then jump in the water, so to speak, and buy your home.
If, on the other hand you're attempting to "time the market" well, Good Luck with that.
In my nearly 24 years working in this field, I've seen many different "markets" come and go. But one thing has been constant: many people want to live in a home of their own. To them it doesn't matter what the "market" is doing.
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker â€“ NYS Dept. of Financial Services
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