When it comes to investing or making a very large purchase, timing is very important. To be honest, I have been going back and forth on writing this particular blog and after much deliberation, decided to pull the proverbial trigger. A smart investor once said, "When everyone is greedy be fearful..............and when everyone is fearful be greedy". Does that sound like the environment that we are presently in regarding purchasing real estate?
It is always hard to buy something out of favor, however, that is normally the exact time you should be buying. Rates are low. Do you think that there is a higher probability that they will be higher a year from now? Do you think the the downgrading of the good ole US of A will push interest rates lower? It seems somewhat counter intuitive and I know I am biased, but reflect on this as I think this is worthy of some reflection.
As in all things, time will be the judge and pull back the curtain of truth.
Paul
