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