…..not cash, a liquid asset or a guarantee of instant or near-term capital appreciation but a long-term store of value.
Why buy real estate? Or better stated, what is your objective? Is it
1. A home in which to raise your family?
2. An income property as an investment?
3. A commercial property for your business enterprise?
4. A piece of land with development potential?
These reasons and I am sure there are others will not disappear. The key is to understand your objective, your time horizon, and current market conditions. Don’t be afraid to buy or sell real estate right now, just don’t have unrealistic expectations. Easy cheap credit is over. Buy it and flip it is over.
My advice: Adopt a sensible long-term time horizon for your real estate transactions and you will weather this period of uncertainty.