Thoughts on the real estate bubble

4 Replies

Hey everyone! Hope this finds all of you and your family safe and healthy!

I am a newbie to the real estate investing world. I have not bought any properties yet because I am working on funding right now. Mostly saving up and penny pinching as much as I can from my W2 job. Along with that, I'm just researching as much as I can about the real estate world before entering so I'm prepared.

I live in the North Jersey area. I'm interested in buying my first property soon and been watching the market. On my YouTube finds, I keep running into this term "the bubble" for the real estate market. A lot of real estate YouTubers are suggesting to hold off on buying until the bubble pops, especially if it's your first property. 

Just reaching out to my BiggerPockets family for some insights and opinions about this. 

If I were you, I would wait and observe the market carefully before making any decision.

Prices are at 8 year highs and maybe they are headed for a correction.

Start looking at how prices evolve over a year for the kind of property you would like to buy. Register which properties sell and the sell price, and which properties do not sell and try to understand why they do not sell. Then you can make a better decision. 



Hi Devyn,
While you are saving your money watch the market.
I don't think chasing the market up is ever a good idea.
Covid-19, elections, fewer people traveling to NYC to work every day, low-interest rates we have a lot going on.
Make contacts, learn the markets you are interested in, save money.
Once the run on properties passes you will be ready.

Good luck - Darren

@juanpardo thank you for that insight

Originally posted by @Juan Pardo :

If I were you, I would wait and observe the market carefully before making any decision.

Prices are at 8 year highs and maybe they are headed for a correction.

Start looking at how prices evolve over a year for the kind of property you would like to buy. Register which properties sell and the sell price, and which properties do not sell and try to understand why they do not sell. Then you can make a better decision. 

 

@darrenklein my thoughts exactly! Remain vigilant, keep saving and grow my circle. Thank you for reaffirming!

Originally posted by @Darren Klein :

Hi Devyn,
While you are saving your money watch the market.
I don't think chasing the market up is ever a good idea.
Covid-19, elections, fewer people traveling to NYC to work every day, low-interest rates we have a lot going on.
Make contacts, learn the markets you are interested in, save money.
Once the run on properties passes you will be ready.

Good luck - Darren