Yes
So it means whoever bought in 2018 bought at peak ? Sad
It doesn’t. Markets don’t move in a straight line. Peaks are relative
Dont buy now. Wait for a year. It will fall
Every market seeks balance.
I would wait. We just moved to the Bay Area and decided to rent. Houses we looked at 1-3 months ago are reduced by 43-150k.
Yes, smart money would wait
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Paragon data for the last 30+ years show the following: 7-8 years of rise followed by about 4 years of decline. 2000 to 2008 was a rise, 2008 to 2012 was the fall, 2012-2019 was a rise, so yea, flattening is already happening and I expect a slow decline until 2023ish then another significant rise (maybe with the next boom in the tech AI/self driving cars, etc.). Bottom line: if you intend to stay 10+ years, buy as long as you can afford. If less than 4 years, I would wait another year or 2 at least. Good luck! Also, the subsequent peaks are always higher than previous peaks! I have yet to hear anyone losing in Bay Area in real estate, except those who bought expensive houses they couldn’t afford to hold on to for long enough.
That’s ML/linear regression for you