A guy I listen to on YouTube (I don’t ‘follow’ since I don’t take his advice, but he’s entertaining) was saying over the weekend for everyone to sell their houses and cash out and go rent until the bottom tanks, then come back in and snap up properties at fire-sale prices.
I’m like huh? Why would I want to do that? Maybe his advice is colored by the fact he lives in California, but back in 2008, ours here in Tennessee didn’t drop that far. And I’d have to find some place to rent-in some locations, even rentals are hard to find! Even though my house isn’t paid for, I think I’d rather stay put.
Of course, he wasn’t talking about those who had reason to move. He was talking to those of us who have no reason to move!
Yes, CA housing prices are volatile. Here in East Tennessee, prices didn’t change much while our house in CA would sell for $100k more at the peak then $100k less at the bottom.