i didn't say that you should buy NOW. i said that you should carefully watch the market and if you are prepared to buy in 2 yrs but the market is the best buying (i.e. lowest thats its going for this recession and now is on the uptake) you should buy even though it may be only 1 yr 11 months instead of 2 years. i basically said that just b/c you have well thought out and intentioned plans it doesn't mean they are set in stone and that buying Low and having it coincide as it looks like it should means you should keep your eyes open and stretch a little for 2-5 months in order to SAVE in the long run. Also besides the fact that "everyone" who went out and bought even though they couldn't afford it they also bought HIGH and just cause everyone else was. you nor i said that was a good thing. we had no down payment on our house so its not like its just the stupidest thing on the planet to do.
And the buying at the very very bottom of the market only matters for people who plan to flip the house, or sell to "upgrade". We're looking for a three bedroom home with lots of back yard space and we don't have any problem stacking kids 3 deep. We are planning on buying a home and staying put for at least 10 years. Missing out on a month or two (or a year or two) of "fast gains" won't matter to us, because we aren't buying a house as strictly an investment, but as a home.
I was just commenting that it would be nice if the downturn continued until the timing was right for us. If it works out not to be, then we'll buy a 2 bedroom Cape Cod and renovate as we have the cash.
|A.D. Kessler i am sure has a website but i know that unless you find the book completely written out it will not have that insignificant blurb (on page 230) written on his website. The correct dates are 73-79 for the information written above. i am NOT a historian or buff of history so i can't comment on if there was or wasn't another recession in 1897.|
So that might be why he got the dates of the Long Depression wrong...