housing bubble

Not stocks! Look, I know there’s a lot to be said about homes being “safe” investments… but as you know, that’s looong term only. For all those trying to make a quick buck on real estate, be warned:

“The bottom line is that there is no reason to assume that the real estate market is even close to efficient. You may want to buy a house if you love it and can afford it. But remember that you cannot safely rely on “comparable sales” to judge that the price is fair. The market isn’t efficient enough for that.”

From The New York Times: The Housing Market Still Isn’t Rational

So… Don’t buy a home because you’re looking to make money on it. Buy a home because it’s a home–it’s where you eat, sleep, raise a family, hang out with friends–it’s where you live.

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