Читать книгу Home Buying Kit For Dummies - Eric Tyson - Страница 28

From time to time, particular local real estate markets experience rapidly escalating prices. During such times, some prospective buyers panic, often with encouragement from those with a vested interest in converting prospective renters to buyers. Escalating housing prices make some renters feel left out of the party. Booming housing prices get all sorts of publicity, including from gloating homeowners clucking over their equity.

Never in the history of the real estate business have prices risen so high as to price vast numbers of people out of the market. In fact, patient buyers who can wait out a market that has increased sharply in value are often rewarded with steadying and, in some cases, declining prices (witness what happened in the late 2000s). Although you won’t be locked out of the market forever, you should keep in mind that if you postpone buying for many years, you’ll likely be able to buy less home for your money thanks to home prices increasing faster than the rate of inflation.