RE:RE:RE:RE:RE:DOOM and GLOOMChefboy69 wrote: sidenote...i know someone who bought a high-end custom built home in the Avenue Rd and 401 area in TDot for 4.2 million in January 2022...its now worth maybe 3.5??? and this person will have to wait 15 years to recover the money
ouch.....have a great day all...
The housing market is not all that different from any other market. Sometimes markets are cheap as dirt, other times they are red hot. If we look back at the 2008 housing market crash there were folks picking up houses for pennies on the dollar. I would not hesitate to guess that some of those folks cashed in on those homes in 2021/early 2022 by selling them again while the market was hot.
Markets move in cycles. Those lucky enough to have cash on hand and a long timeline can benefit from making investments during the down cycles and waiting them out.