House prices are sky high right now and that is leaving potential buyers wondering if the market will ever return to a normal state. One of the biggest things that you should be paying attention to when buying a home is that you want a home you will be happy with for at least five years. When you are trying to build wealth, real estate is a great option but it’s not the only option. Finally, you need to understand that the housing market can continue down this path for at least another decade.
- Expert Daryl Fairweather is chief economist at Redfin and as has been a researcher at the Boston Fed.
- If you can’t find a place you think you’d be happy with for five years, consider renting.
- There’s nothing wrong with building wealth through the stock market rather than the housing market.
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