For those considering buying a house and worried about buying at the "top of the market" or whatever:
Where the market is when you buy a house to live in doesn't actually matter much. This is because you're always going to be living in a house, which means you'll be buying your next house at the same time as you sell the house you buy now. That is: even if you buy now and the market crashes, when you go to buy a new home, you'll be selling your home for a loss, but buying your next home at a discount. That differential ends up getting eaten up. Obviously, if you significantly upgrade or downgrade when you buy your next home, that makes it possible you'll lose or gain some money by the market condition, but it's really minimal.
But what does matter is your interest rate. That's money that goes away forever, and you'll never get back. You shouldn't try to time the market, but you should try to get a low interest rate, and they're only going up...
For those considering buying a house and worried about buying at the "top of the market" or whatever:
Where the market is when you buy a house to live in doesn't actually matter much. This is because you're always going to be living in a house, which means you'll be buying your next house at the same time as you sell the house you buy now. That is: even if you buy now and the market crashes, when you go to buy a new home, you'll be selling your home for a loss, but buying your next home at a discount. That differential ends up getting eaten up. Obviously, if you significantly upgrade or downgrade when you buy your next home, that makes it possible you'll lose or gain some money by the market condition, but it's really minimal.
But what does matter is your interest rate. That's money that goes away forever, and you'll never get back. You shouldn't try to time the market, but you should try to get a low interest rate, and they're only going up...