What to do when the market you're in has boomed in prices?
the market I'm inn has skyrocketed in price as of last year. I'm afraid to jump on a deal and have the prices correct themselves within the year. What factors do you look at that show you the prices are bound to stay stable? I mean my market has no new economy or jobs, the homes being built are extremely expensive for the average salary and our unemployment rate has not changed. The only thing impacting the prices is that investors from high COL areas have bought up our houses increasing demand letting the prices skyrocket 20-25% in less than a year. The old homes have seen similar increases in prices making them unattractive to flip. Would you invest or wait in this situation.