Description: “IT’S a great time to buy a home.” Real estate agents were saying that in 2001, as home prices were rising. They also said it when home prices peaked in 2005 — in fact, David Lereah, former chief economist of the National Association of Realtors, published a book that year titled “Are You Missing the Real Estate Boom?” And many real estate agents said it was time to buy as prices began to drop — and continued to say it over the past several years as prices fell by an average of 33 percent in America’s 20 largest cities.

Source: NYTimes.com

Date: 03/12/2010

Link: http://www.nytimes.com/2010/03/14/business/14every.html?ref=business

Questions for discussion:

• Summarize the arguments for and against buying a house.
• What are the key measurements that should help guide an evaluation of the best time to buy?
• How do you think house prices will behave over the next five years in your region?