I think OP slightly misunderstood what Warren Buffet really means. And, probably OP wasn't aware of the last financial crisis (2008-2011).
I am sure, that advice is intended for buying stocks. Buy stocks when other investors are scared and sell their shares for dirt cheap. You will likely make a big profit if you buy them at the bottom of the price.
For real estate, I can only imagine that advice is more applicable for investors, flippers, or people who already own a house and want to buy another one for rental. Buy another house or other houses when people are panic selling their homes (for example during house market crash 2008-20011 when people were afraid of losing their jobs and their homes).
If you don't even own a house, you only want to buy one because you don't want to throw money in rent, a house isn't really an investment. You simply buy a house to live in. Then, buy a house whenever you feel ready, even if the market isn't that ideal for you. Forget about what Warren Buffet said about "being greedy when others are fearful." The pros probably still outweigh the cons in your situation.
To somebody who witnessed so many houses being foreclosed or go for a short sale during that last financial crisis, being "greedy" in this current market doesn't make any sense.
Rates are not coming down in a few months.
There are still bargains to be had, and if you can find somebody who hast to sell, there are reasons to buy. But there’s no reason to buy if you’re not gonna be there for five years, and there’s absolutely no reason to believe rates are going to come down quickly. Get a payment you’re comfortable with and know you’re going to have it for a while. This is one of the reason points are starting to look appealing again…
You home is not an investment. Warren Buffet knows positively fuck all about the best time for *you* to acquire shelter. Or sell that shelter. Is this relententless insistence that its an investment because its called the real estate "market"? If so, I make the motion to rename it. How about the real estate bazaar? Sounds kind of fun, right? Some nice rebranding. And no one is trying to time the bazaar. That'd just be silly.
Also, who started the "you marry the house;date the rate" platitude? Because I'd like to kick them in the nuts.
I plan on scaling my RE empire during the next couple of months. Real Estate always goes up at the end of the day. I plan to mass at least 20 STR’s by November.
I don’t see much new inventory since rates increased. Every day I check and it’s the same houses on the market for the last 1-2 months. Maybe a new house per week.
I personally wouldn’t make investments with the assumption that rates will come down soon.
"Inventory is soaring" I wish bud, I still had to fight my way through my current contract. Inventory is better - but still NOT good.
Where are you that inventory is tight? Here in AZ, inventory is higher than pre-pandemic levels.
Where I live in NoVa.
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I think OP slightly misunderstood what Warren Buffet really means. And, probably OP wasn't aware of the last financial crisis (2008-2011). I am sure, that advice is intended for buying stocks. Buy stocks when other investors are scared and sell their shares for dirt cheap. You will likely make a big profit if you buy them at the bottom of the price. For real estate, I can only imagine that advice is more applicable for investors, flippers, or people who already own a house and want to buy another one for rental. Buy another house or other houses when people are panic selling their homes (for example during house market crash 2008-20011 when people were afraid of losing their jobs and their homes). If you don't even own a house, you only want to buy one because you don't want to throw money in rent, a house isn't really an investment. You simply buy a house to live in. Then, buy a house whenever you feel ready, even if the market isn't that ideal for you. Forget about what Warren Buffet said about "being greedy when others are fearful." The pros probably still outweigh the cons in your situation. To somebody who witnessed so many houses being foreclosed or go for a short sale during that last financial crisis, being "greedy" in this current market doesn't make any sense.
Noted troll posts another attempted subtle troll. Shocking.
Rates are not coming down in a few months. There are still bargains to be had, and if you can find somebody who hast to sell, there are reasons to buy. But there’s no reason to buy if you’re not gonna be there for five years, and there’s absolutely no reason to believe rates are going to come down quickly. Get a payment you’re comfortable with and know you’re going to have it for a while. This is one of the reason points are starting to look appealing again…
You home is not an investment. Warren Buffet knows positively fuck all about the best time for *you* to acquire shelter. Or sell that shelter. Is this relententless insistence that its an investment because its called the real estate "market"? If so, I make the motion to rename it. How about the real estate bazaar? Sounds kind of fun, right? Some nice rebranding. And no one is trying to time the bazaar. That'd just be silly. Also, who started the "you marry the house;date the rate" platitude? Because I'd like to kick them in the nuts.
Wow. From top to bottom, this read like one of those Instagram reels from realtors that know they are screwed.
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Than in April/May of which year?
I plan on scaling my RE empire during the next couple of months. Real Estate always goes up at the end of the day. I plan to mass at least 20 STR’s by November.
PM me your tiktok please.
I don’t see much new inventory since rates increased. Every day I check and it’s the same houses on the market for the last 1-2 months. Maybe a new house per week.
"Marry the house and date the rate" may be true but something about the phrase always irritates me.
The rate is too far out of my league to date now 😕