Don’t Buy a Home. Buy Whiskey and Shotguns.

Just read a great little follow up to yesterday’s post on buying a home in spite of the economic conditions. If you think things are going to get worse you might want to read it. Whiskey and shotguns might be a good choice.

Everyone needs a place to live and it has never been less expensive to buy than it is now. That is comparing income to housing cost as an affordability index. In most markets it’s less expensive to buy than rent. That is a fact.

I know lots of folks will say ‘wait’ and frankly no one understood the depth of the trouble we have seen. It got worse than anyone predicted. I have said several times that we looked like we were at the bottom and we weren’t. I listened to the economists from the National Association of Realtors and believed we were arriving at a time when it would be getting better. I was wrong but I was in good company.

I have stopped looking to the folks that have a vested interest in the home selling business. I’ll still look but I have to find some other places to check so I know I have a better chance at being right. I have found several sources that don’t have a dog in this hunt so I am planning to share what I see. We’ll dig into the data and see what we can find out. Stay tuned.

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