Legal Quandary

Wednesday, April 27, 2005

Sooooo...

I was talking with one of my classmates this morning about our househunting trip to DC. He asked how it went. I said it was expensive. Blah, blah.

And then he says something to the effect of "Well, you know, I was just reading in The Economist that they predict the housing market bubble is going to burst. And they actually predicted the stock bubble was going to burst a couple of years ago...blah, blah...and they say there's only one market that's capable of sustaining those kinds of housing prices - New York, yada, yada....and that the hard and fast rule is that you should never buy a house unless you're going to be there for at least 5 years anyway."

I pointed out that the "rule" would mean that military families could never buy houses then.

But now I'm sort of angst ridden about the whole thing. Do any of you actually know anything about real estate?

And if so - do you have any thoughts on the situation?

Comments:
I've heard the same thing about the real estate bubble. On the one hand, I guess it's a good time to be selling our house, but on the other hand... I still have to buy something somewhere. I am comforting myself with the thought that real estate near a university is usually pretty stable in value - the university isn't going anywhere.
 
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