It's the simplest, most logical statement in business: Buy Low - Sell High... Yet, most people only believe it in theory and act differently when making actual decisions!
When the price of something is increasing many rush to purchase it, and when it's decreasing they get anxious to sell it off quickly! They Buy High and Sell Low!!!
In Canada we have historically low interest rates right now and there are areas where you can still get very reasonable deals in real estate. However, I still meet "investors" who are too cautious to buy anything and tell me that they will wait for the conditions to correct themselves first. So they are hoping that prices will go down.
My mind goes back to 2002 and 2009 where I heard the same sentiments before - and what happened? Prices went UP and not down. If you are not selling your property cheaper, and I am not selling mine cheaper and none of your friends and neighbours are prepared to take a loss in their real estate values, then HOW are the prices coming down, eh?!
Smart investors, BUY LOW. If you factor in the thousands of Dollars saved in interest alone, then THIS is the time to BUY and reap the benefits in the next decade. History can only repeat itself.
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