Quote:
Originally Posted by secondcurve
What do folks think about the real estate market? Is it time to trade-up? Do we have further to fall? It seems like activity has been incredibly slow this summer. Any input would be appreciated.
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To your original question (market going up or down), I've tried to summarize the comments below:
1. Nobody knows
2. The chances are 50/50, either direction
3. Using bad data is worse than no data at all
4. If someone knows where the bottom is, they are also omniscient
5. Losing 5% on a trade-up is more financially painful than losing 5% on one's current home
6. Real estate is one thing you can't make more of, except perhaps, jobs
7. A model that determines how the Lakes region real estate market works is as reliable as a model that determines how the stock market works